Cash Advances

[chelsey1]

What is the name of your state? Pennsylvania

I have gotten myself tied up with several cash advance/payday loans. After showing my banker these agreements for repayment he advised me to look into the legalities of such loan companies.

Is it legal under the Federal regulatory commission for these lending companies to charge such large interest rates. My banker thinks that there is certain regulation as to how high interest rates can be set.

If there is certain rate scales, am I obligated to keep paying these rates based upon their agreement that I signed?

 

[HomeGuru]

What is the name of your state? Pennsylvania

I have gotten myself tied up with several cash advance/payday loans. After showing my banker these agreements for repayment he advised me to look into the legalities of such loan companies.

Is it legal under the Federal regulatory commission for these lending companies to charge such large interest rates. My banker thinks that there is certain regulation as to how high interest rates can be set.

If there is certain rate scales, am I obligated to keep paying these rates based upon their agreement that I signed?

**A: you have made multiple threads on the same subject.