Legal Question in Credit and Debt Law in Massachusetts

I recently took out four payday loans from four different Internet companies. The loans totalled $650.00 (three for $150 and one for $200). The total amount owed on these loans is $845.00 ( three for $195 and one for $260). Because of financial difficulties I consolidated these loans through PayDayLoanHelp for $175.00 per month, and they use Global Client Solutions to dispurse these funds. Both companies can be located on the Internet. So far, no money has been paid out. So my question is twofold: are payday loans legal in the state of Massachusetts, and should I take any further legal action to safeguard my rights? Thank you very much for your time.


Asked on 1/27/10, 8:16 am

1 Answer from Attorneys
JOHN TATOIAN LAW OFFICE OF JOHN A. TATOIAN ESQ.*Licensed Only in Massachusetts

Payday Loans are prohibited by law in the state of Massachusetts. There are , however, certain loopholes various payday lenders are attempting to use to circumvent the law. Please feel free to contact me direct for a free initial consult based upon the facts of your specific situation :))

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Answered on 2/01/10, 9:06 am


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