Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008
Re: PayDay Loans--Help!

kt_scarlett007 wrote:

I live in Colorado




According to johnsj21's post (Great one, johnsj21!!), according to CO code, you can only have ONE outstanding PD loan.

Wonder what that means? Does that nullify the other 2? I'm fair sure that the statute means that the PD company cannot legally extend more than one loan to a consumer at one time.

Anyone else want to chime in??

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!