Posted on: 12th Sep, 2012 02:44 pm
I posted a response instead of a question by mistake but I really am looking for advice.
I am paying 26.99% interest on a dental loan that originated in Hawaii. The legal APR for Hawaii is 10%, how can they charge me this rate when that is the legal limit??
Is this legal? Who do I contact to help me rectify this problem??
I will never pay off the debt at this rate. Help!!
I am paying 26.99% interest on a dental loan that originated in Hawaii. The legal APR for Hawaii is 10%, how can they charge me this rate when that is the legal limit??
Is this legal? Who do I contact to help me rectify this problem??
I will never pay off the debt at this rate. Help!!
Welcome Misti,
If they are charging you a higher percentage than the legal limit, then, as far as I can understand, it will be considered as illegal. You should contact the lender once and discuss the issue with him and try to sort out the matter.
If they are charging you a higher percentage than the legal limit, then, as far as I can understand, it will be considered as illegal. You should contact the lender once and discuss the issue with him and try to sort out the matter.
Hello Misti,
As your payment history improves and your credit score increases, you can apply for cards with lower interest rates.
:idea:
As your payment history improves and your credit score increases, you can apply for cards with lower interest rates.
:idea:
Check out your states Ursury laws for the loan in question. You may have defaulted and are now paying the defaulted rate. Look into your states max rates and default rates on autos
I would suggest you to take the help of an attorney to do it for you.
If you are a charged a high rate than the legal limit, then it is considered to be illegal. Speak with your lender at once and discuss with him and try to sort out the matter at the earliest time possible.