If the settlement demand is within policy limits, the insurer rejects the demand, litigates the case, experiences a judgment in excess of policy limits but refuses to indemnify its own insured for the full judgment, the insurer invites a lawsuit for bad faith refusal to settle.
Hi, I currently have a $500 PDL with Amscott. Every two weeks i go in and pay it off and then take out another one in 24 hrs. The fee is $51 every two weeks. I am in such a hole from this now that I have had to retake the loan every two weeks for MONTHS!! I can't get out I tried going down by $50 everytime but that plus the fee is more then $200 a month I cant do it anymore I am so in the hole.
High Price for Payday Loans. Payday loans are small, short-term, high-interest loans that typically come due on your next payday. The way they work is you write a check to the lender for the amount of the loan plus the lending fee. The lender gives you cash for the loan amount and holds your check for deposit for two weeks, or until your next payday. Although convenient, payday loans come at a very high price. The lending fee (generally 15 to 30 percent of the loan amount) applies each time the loan is extended.