Re: PayDay Loans--Hel
10-23-2008 05:55 PM
Everything that I'm reading online pretty much reads that if a payday loan lender wants to loan to a resident of colorado that the lender must be licensed in Colorado, if they are not then the loan would be null and void. Check with you specific lenders to see if they are licensed in CO.
Actually, my point was that according to CO statutes, even a licensed PD loan company can only extend ONE loan at a time to a consumer.
Of course, after re-reading her original post, it seems as though she might have gotten the 3 loans from 3 different PDLCs ... perhaps making that statute moot.
Still good non-the-less!
Starting Score: 454
Current Score: 690
Goal Score: 750
Take the FICO Fitness Challenge