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I have 5 storefront PDL' sand am now wiped out.My bank account was NSF's to a point where the account had been closed. I called these people and asked them not to deposit the checks. They refused and did it anyways.Now not only do I have to fight with the bank about the nsf's..I told them in advance and they would not close the account when the first nsf hit..

I do not have any extra money to pay these back, I tried and was overwhelmed. I had a choice..keep my house and car ( I almost had that repo'd due the PDLs wiping out my account) or not pay them back...What can they do to me? There is nothing left but a few dollars for food to get to the next check..Can they drag me to court? I live in Arizona..




I think the following information may help you: -

Quote:
Arkansas State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Ark. Code. Ann. ???? 23-52-101 et seq.; Ark. Const. art. 19, ???? 13

Loan Terms:
Maximum Loan Amount: $400
Loan Term: 6-31 days
Maximum Finance Rate and Fees: 10% of check + $10; $5 ID card
Finance Charge for 14-day $100 loan: $22.22
apr for 14-day $100 loan: 579%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per location
Rollovers Permitted: None (cannot renew or consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: NSF fee; Court Costs; Reasonable Attorney's Fees
Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker)

Where to Complain, Get Information:
Regulator: Arkansas State Board of collection agencies
Address: Division of Check-Cashing Companies, 523 Louisiana Street, Suite 460 Little Rock AR 72201
Phone: (501) 371-1434
Fax: (501) 371-1440
Regulatory Contact: Peggy Matson,, Executive Director

Sub: #1 posted on Thu, 08/07/2008 - 18:35

phoenix phoenix
Moderators
(Posts: 1444 | Credits: 275.38)

Most of the time store fronts are operating legally in your state, so the bad news is that yes, they probably can sue you. They can also sell your accounts to collection agencies, and then the CAs can sue you.

If you list each company name, amount borrowed, and amount paid so far, someone else may be able to give you additional advice.

Sub: #2 posted on Thu, 08/07/2008 - 21:54

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

Those laws posted are for Arkansas....OP lives in Arizona...

Sub: #3 posted on Thu, 08/07/2008 - 23:45

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.15)

Good catch soaplady...I am sure that phoneix just got confused..and will be posting arizonia laws soon.

Sub: #4 posted on Fri, 08/08/2008 - 02:13

ladybug ladybug

(Posts: 2757 | Credits: 282.45)

Arizona laws:

Quote:
Arizona State Information

Legal Status: Legal

Citation:
Ariz. Rev. Stat. ???? 6-1251 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks

Sub: #5 posted on Fri, 08/08/2008 - 02:26

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

My apologies :oops:

Sub: #6 posted on Fri, 08/08/2008 - 08:54

phoenix phoenix
Moderators
(Posts: 1444 | Credits: 275.38)

Here is the latest update..After faxing my letter stating they are not legal in Arizona or the US, and someone today made a very insulting call to me without giving me a name...Now I after trying to sign in their website to see any more activity with them reloaning with out my consent on a closed bank account. I cannot sign in anymore....Of course, I printed everything up before I sent the faxes. Anyone have any knowledge what they will try to do next?

Sub: #7 posted on Sat, 08/09/2008 - 07:47

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