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 Posted: Tue Dec 18, 2007 10:50 am |
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Hello
I am new to this forum. I am embarassed because I have gotten myself into the PDL trap 
I have 3 internet PDL loans
ameriloan
Netcash
GenevaRoth
I have closed my account and now dealing with the phone calls.
Does anyone know the PDL laws for California?
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rjldl1
Joined: 18 Dec 2007
Posts: 6
Debtcc Points: 303
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| Posted: Tue Dec 18, 2007 11:01 am |
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No need to be embarrassed. we have all been there.believe me 3 loans is not bad at all. I will post the CA laws for you .
California State Information
| Quote: | Legal Status: Legal
Citation:
Cal. Fin. Code §§ 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact: ,
Regulator Website
http://www.corp.ca.gov/
http://www.corp.ca.gov/ |
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5458
Debtcc Points: 38911
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| Posted: Tue Dec 18, 2007 11:23 am |
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Thank you so much for your reply! I have 3 internet pdl on the internet and 3 storefront. I am working with the storefront ones and have agreements with them. What a nightmare!
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rjldl1
Joined: 18 Dec 2007
Posts: 6
Debtcc Points: 303
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| Posted: Tue Dec 18, 2007 12:50 pm |
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Don't be embarassed that is why most of are here we have been in the same boat. You will get yourself our of this nightmare just remember that the storefronts are normally legal and operate legally and will and do sue if you fail to pay them back. I am glad that you are able to work things out with them. If you have any problems with the payments that you are making to pay them back notify them beforehand, they most likely be easy to work with.
How much have you borrowed in principal from the internet pdl's and how much have you paid back? Please provide this information as it will be helpful for others to help you.
ladybug
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ladybug
Joined: 29 May 2007
Posts: 2761
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 5042
Debtcc Points: 31078
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| Posted: Tue Dec 18, 2007 2:16 pm |
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This forum has been SO helpful!!! I have not paid any principal back on any of the 3 internet PDL. Only the $90 extension fee. One loan i took out was $300. Now they say I owe $715 because of NSF fees! They sent me an email to contact them. I replied back and asked for a breakdown of htis $715. No response! Go figure!
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Guest
Debtcc Points: 100
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| Posted: Tue Dec 18, 2007 3:22 pm |
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All 3 of your internet PDL's are illegal in CA...i am also in CA.
ameriloan has been issued a cease and defrain order by the state...they arent even supposed to be doing business here.
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volleyballmom
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Joined: 27 Aug 2007
Posts: 4177
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| Posted: Tue Dec 18, 2007 3:33 pm |
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Thanks volleyballmom for the info! How did you find that information out? It will be helpful for future collection calls that I know I will be getting Netcash says I owe them $715 for a $300 loan. I asked for a breakdown. Havent heard from them since.
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rjldl1
Joined: 18 Dec 2007
Posts: 6
Debtcc Points: 303
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| Posted: Tue Dec 18, 2007 4:37 pm |
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ameriloan hasn't only been told to cease and desist. They have also been sued by California.
Go to this link:
| Quote: | Civil Action
Defendants: Date of Initial Action,
County of Filing, and
Case Number
Defendant
AMERILOAN, a business organization, form unknown; AMERILOAN, a corporation; AMERILOAN, a limited liability company; AMERILOAN, a partnership; US FAST CASH, a business organization, form unknown; US FAST CASH, a corporation; US FAST CASH, a limited liability company; US FAST CASH, a partnership; ONE CLICK CASH, a business organization, form unknown; ONE CLICK CASH, a corporation; ONE CLICK CASH, a limited liability company; ONE CLICK CASH, a partnership; UNITED CASH LOANS, a business organization, form unknown; UNITED CASH LOANS, a corporation, UNITED CASH LOANS, a limited liability company; UNITED CASH LOANS, a partnership; PREFERRED CASH LOANS, a business organization, form unknown; PREFERRED CASH LOANS, a corporation; PREFERRED CASH LOANS, a limited liability company; PREFERRED CASH LOANS, a partnership; INTERNET CASH ADVANCE MARKETING, INC., a corporation
06/29/07
Los Angeles
Case #: BC37336
Complaint For Temporary Restraining Order; Preliminary Injunction; Permanent Injunction; Civil and Ancillary Relief
Temporary Restraining Order; and Order to Show Cause RE: Prelminary Injunction
Order Granting Plaintiff's Motion For Preliminary Injunction and Denying Defendants' Motion to Quash Service of Summons and Dismiss Complaint
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http://www.corp.ca.gov/enf/info/dr/list.htm
You can search by company name and view all the documents.
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goudah2424
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| Posted: Thu Dec 20, 2007 11:06 am |
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Has anyone ever delt with Netcash USA? I think they also DBA as Zipcash and probably alot of other names.
They forwaraded my file to a company called Centrinex. They told me I owe 715 on a 300 loan. I asked for a breakdown of the charges and I haven't heard back from them since.
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guest
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Debtcc Points: 100
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| Posted: Sun Dec 23, 2007 6:51 am |
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as far as store fronts..
stop payments then call them set up payment plans..
they will work with you then every time you pay the 45.00 fee it will go to the 300.00 pay them every 2 weeks as you have but the loan will go down. they can only add 15.00
the only way to get out..
Also the state of Cal will take action.. trust me I am going to court against a Payday loan co.. the state is suing and I am testifing
this is a store front that broke the law it has taken 2 years BUT they are taking action..
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Poptartsmom
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