Advance cash in maryville mo

French determined that the Short-Term Loan Act (STLA) does not prohibit lenders registered under the separate Mortgage Loan Act (MLA) from making interest-bearing, payday-style loans. Also, under the MLA, a registered lender is permitted to require that an interest-bearing loan be repaid in a single installment, Justice French wrote. The decision reverses the judgment of the Ninth District Court of Appeals and returns the case to the trial court for additional proceedings.

Ohio Neighborhood Finance, which operates lending businesses called Cashland, registered as a lender under the MLA in 2008. The company is not registered to make loans under the STLA. On December 5, 2008, Cashland loaned 500 to Rodney Scott. The loan agreement set up advance cash in maryville mo payment schedule: One payment in the amount of 545. 16 due on 121908 (Payment Date). The repayment amount included a credit investigation fee, loan origination fee, and interest.

Scott did not repay the loan on December 19, and Neighborhood Finance filed suit in Elyria to recover the money.

Advance cash in maryville mo

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Advance cash in maryville mo

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Advance cash in maryville mo