Hello, I want to pick some brains and get a little help on this topic. I am trying to find information regulating Installment Loans. Specifically the laws/requirments governing these types of loans.
For example "Little Loan Shoppe" claiming to be a short term installment loan when they are a PDL. I have read in this forum that installment loans must be backed by a bank and licensed in their state to lend to out of state consumers. Then I have read that installment loans NOT backed by a bank must be licensed in the consumers state to lend.
Where exactly can I find the laws regulating this information? Thanks in advance :)
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.