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Posted: Fri Sep 05, 2008 9:08 am Subject: Virtual Portal ??

I just spoke with someone from American Consumer Credit. I live in the state of Ohio.

The PDL is through TheCashSpot. The original amount borrowed was 300. To date I have paid them 592.00 still owing a principal amount of 252.00 (of course that includes no fees).

I explained to the lady that rollover and extension fees are not legal in Ohio and she said that the company is out of Delaware and it's considered a Virtual Portal..Can someone please help me with this?

Posted: Fri Sep 05, 2008 9:14 am Subject:

They can say what they want, but courts have found that the company IS doing business is the residents state, and if the state requires so, MUST be licensed by that state to do business.

Posted: Fri Sep 05, 2008 9:43 am Subject:

And in doing so does that mean they must follow the state's laws, i.e. not being able to charge extension fee's ?

Posted: Fri Sep 05, 2008 9:51 am Subject:

In the case of Ohio, yes, they must follow Ohio's laws.

Posted: Fri Sep 05, 2008 9:52 am Subject:

Could you tell me how I get started to stop them from taking anymore money and to get a refund for the overpayment ?

Posted: Fri Sep 05, 2008 10:18 am Subject:

Refunds are hard to come by . . . .

You need to close your bank account. Read the sticky at the top of the forum for some important info on doing that.

You will then need to file complaints with your state AG, and DFI.

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