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Last edited by goudah2424 on Thu Jun 26, 2008 2:50 pm

I've complied a list of all 50 states showing which state's require the company to be licensed by that state, and which one's allow other state's licenses.

** This is just preliminary *** There may be changes to it.

States that require internet based pdl's to be licensed by that state:

Alabama

Alaska

Arizona

California

Colorado

DC

Deleware

Florida

Hawaii

Idaho

Illinois

Indiana

Kansas

Kentucky

Lousiana

Maine

Michigan

Missippi

Missouri

Montana

Nebraska

Nevada

New Hampshire

New Mexico

North Dakota

Ohio

Oklahoma

Oregon

South Carolina

South Dakota

Texas

Utah

Washington

Wisconsin - If the online company solicited you

Wyoming

In the above states the internet payday loan company must be licensed by that state and follow that state's laws.

Posted: Mon Jun 16, 2008 12:38 pm Subject:

The following state allow an internet based payday loan company to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in.

Arkansas

Minnesota

Pennsylvania

Rhode island

Tennessee

Wisconsin - If you found the company online by a search or other means

Posted: Mon Jun 16, 2008 12:39 pm Subject:

The following state are known to have payday loan companies acting as CSO's (Credit Service Organizations). This means they do not need to be licensed, and are generally 100% legal in what they charge.

Florida

Maryland

Texas

Posted: Mon Jun 16, 2008 12:40 pm Subject:

In the following states internet payday lenders are not legal, either because of restrictive laws, or because the state does not license companies not located in that state, but requires a state issued license to lend.

Connecticut

Georgia

Iowa

Maryland

Massachucetts

New Jersey

New York

North Carolina

Vermont

Virginia

West Virginia

Posted: Mon Jul 14, 2008 4:28 am Subject: where can i find this list

good morning still at work on these lenders how can i find this list so that I can send to two of my lenders that say they don't have to be licenced in my state fast bucks now and upfront money thank you

Posted: Mon Jul 14, 2008 6:33 am Subject:

Goudah, how is it that Maryland shows up under CSO and Illegal?

Posted: Mon Jul 14, 2008 7:19 am Subject:

PDL's are illegal, but CSO's are legal.

Posted: Mon Jul 14, 2008 7:20 am Subject:

CSO's are different from pdl's, and are under totally different laws. So pdl's can be illegal and CSO's legal in the same state.

Posted: Mon Jul 14, 2008 7:47 am Subject:

That's great goudah, good info.

Posted: Mon Jul 14, 2008 7:50 am Subject:

Barbiwalk - I made this list myself. It is not found elsewhere on the internet.

Posted: Mon Jul 14, 2008 8:50 am Subject:

Goudah...help me...I am not sure, as in the case of Maryland, how/when to determine if it is a CSO or PDL. Maryland says that a CSO doesn't have to be licensed, ergo, no record of them on the MD site. So a person could easily interpret that a lender is not licensed and therefore is not legal. They may confuse it as being a PDL lender.

Posted: Wed Jul 16, 2008 11:02 am Subject: NEW YORK

I live in new york and I have "HAD" a pdl in 2005 and paid on it and know they want $5000.00 in 2008 when I only borrowed $200.00

HELP ME!

Guest · Posted: Thu Jul 31, 2008 1:53 pm Subject:

If a lender is required to have a license but is not on the state's roster, does that mean it's illegal? What do I need to do if it is? I've got 11 payday loans and they eating me alive!

Posted: Fri Aug 01, 2008 6:50 am Subject:

Licenses can be hard to find. The company may be licensed under a corporate name, or some other way.

I can't speak to general legalities. Everything depends on the specifics.

DSS - CSO's must still be registered with the Sec of State. It's a different process then licensing, but most states still have searchable databases of the registrations. Also, the contract will also state that the business is a CSO.

Posted: Fri Aug 01, 2008 7:01 am Subject:

Best you can do is to tell the company that you believe them to be unlicensed and force them to prove that they are (they need to be licensed at the time of transaction, btw).

If they give you a corporate name, or a d/b/a name, come back here and post it to assist other community members.

mymaddie · Posted: Mon Aug 18, 2008 10:53 pm Subject:

So If the company is not licensed what does that mean? I have loans with BIG, 247advance, Loanshop and FTR processing. Are these companies licensed in AZ? If not what can i do about the loans? I have already taken the first step and closed my bank account, but now I am freaked out abou that harrassing phone calls I am sure I will get.

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