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 Posted: Thu Aug 16, 2007 7:18 am |
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I don't know if sending that letter to CA's would work unless the pdl was taken out after July 1. While the law before intended for internet pdl's to be covered, it wasn't explicitly stated. Hence the new clearer law. But sending that to a CA wouldn't do much if the debt is older then that, which I would assume it to be since it's at a CA . . . . .
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goudah2424
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| Posted: Thu Aug 16, 2007 8:18 am |
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Hello my friends!
OK- I'm reading about this new law that passed in July about payday loans.....So, explain to me in big large letters please  ...IF I or anyone else took out a pdl after July of 2007.........and the company was not licensed then it is?.............
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~ Tweety~
When I'm good, I'm very good, but when I'm bad, I'm better.
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Tweety71
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| Posted: Thu Aug 16, 2007 8:36 am |
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tweety,
If a creditor has violated the provisions of this article that apply to the authority to make
consumer loans (IC 24-4.5-3-502), the loan is void and the debtor is not obligated to pay
either the principal or loan finance charge, as set forth in IC 24-4.5-5-202.”
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cannr
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| Posted: Thu Aug 16, 2007 8:37 am |
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tweety,
You are advised to Cease and Desist the offering of these types of loans to Indiana
residents unless/until you have obtained the proper Indiana loan license. Consumers will
be advised that these loans are not in compliance with Indiana Statutes and that these
loans are considered null and void, and as a result, uncollectible.
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cannr
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| Posted: Thu Aug 16, 2007 8:39 am |
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Thanks CANNR!
_________________
~ Tweety~
When I'm good, I'm very good, but when I'm bad, I'm better.
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Tweety71
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| Posted: Thu Aug 16, 2007 8:40 am |
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but morally you should pay them back?!?
_________________
~ Tweety~
When I'm good, I'm very good, but when I'm bad, I'm better.
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Tweety71
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| Posted: Thu Aug 16, 2007 8:41 am |
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AND-What about the ones I got last year that I'm still fighting them on?
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~ Tweety~
When I'm good, I'm very good, but when I'm bad, I'm better.
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Tweety71
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| Posted: Thu Aug 16, 2007 8:42 am |
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I just think this sounds too good to be true
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~ Tweety~
When I'm good, I'm very good, but when I'm bad, I'm better.
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Tweety71
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| Posted: Thu Aug 16, 2007 8:45 am |
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Tweety - Why did you take out more payday loans?
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goudah2424
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| Posted: Thu Aug 16, 2007 8:52 am |
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I didnt.....I'm just saying what "if" I did......This all just sounds too good to be true....Morally though you should pay them back right? My gf took out 1 from 500fast cash- and I'm telling her about the laws and she's paid back 75.00 so far- but 500fastcash is not licensed in IL...I've learned my lesson trust me.
_________________
~ Tweety~
When I'm good, I'm very good, but when I'm bad, I'm better.
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Tweety71
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| Posted: Thu Aug 16, 2007 10:21 am |
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woohooooooooooooooooooo
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~ Tweety~
When I'm good, I'm very good, but when I'm bad, I'm better.
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Tweety71
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| Posted: Sat Mar 01, 2008 11:38 am |
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I have a $300.00 pdl with Geneva Roth, and they said they were only going to take 90 dollars each payday out to renew the loan. I never got any papers to sign to get the money, but I did talk to someonw on the phone to give them the information to take it out of my account. They hit my account the next week, and seem to be hitting it every nine or ten days. This has left me with a negative balance over 256.00, plus the money they put in the account.
Is this company even licensed in Indiana?
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cwynns247
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| Posted: Sat Mar 01, 2008 1:32 pm |
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cwynns, Did they deposit the money into your account and how much have they debited so far? As far as I can tell, and someone will correct me if I am wrong, they are not licensed in Indiana. Can you close your account or atleast get your bank to stop allowing the debits to go through...here is a thread to read which will help you when you talk to your bank...There are many members here who will be able and willing to help you. It would be very beneficial to you to start your own thread, post what you posted above and the answers to my questions. It is easier for you to find your post again and it is easier for us to find you. ALso, all your information will be in one thread which will make it easier for you to refer to. I jus twant to make sure you receive any and all help or information you need.
http://www.debtconsolidationcare.com/paydayloan/close-account.html
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RoxyNY
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| Posted: Sat Mar 01, 2008 7:07 pm |
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So, you got the loan, however, you didn't get any documents? It seems as though they are debiting you every two weeks? Are they debiting the $90 each time? And you have nothing as far as paperwork? Just a verbal agreement over the telephone? I just want to be sure I'm understanding this correctly. And, as roxy asked, how much have they taken out of your account so far?
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cannr
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