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Arrowhead Investments and Astro Lending

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PostPosted: Fri Sep 19, 2008 10:13 am Subject: Arrowhead Investments and Astro Lending

I was just wondering if anyone knew if Astro Lending and Arrowhead Investments are legal in Pennsylvania? I'm thinking that they are not
julesl76



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PostPosted: Sun Sep 21, 2008 9:04 pm Subject:

In Pennsylvannia, payday loans are prohibited. The pdl laws are: -
Quote:
Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, § 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. § 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year


If you want to file complaint against a particular pdl company then you can do so to the following: -
Quote:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions

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PostPosted: Mon Sep 22, 2008 7:38 am Subject:

There's a loophole in the Pa. lending law, as long as they are licensed in ANY state in the US you will need to follow the laws the pdl is licensed in.
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PostPosted: Mon Sep 22, 2008 8:42 am Subject:

Arrowhead is in KS
wssu91

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PostPosted: Mon Sep 22, 2008 9:27 am Subject: debt

Ok........so, if I live in PA and I had gotten a 'loan' from Arrowhead, I have to go by the state THEY are in, instead of the state of PA?
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PostPosted: Mon Sep 22, 2008 9:46 am Subject:

Yes, if Arrowhead is licensed in Kansas then they would need to follow the Kansas laws
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To a crisis of the spirit, we need an answer of the spirit.
To find that answer, we need only look within ourselves.
When we listen to "the better angels of our nature," we find that they celebrate the simple things, the basic things--such as goodness, decency, love, kindness.
Greatness comes in simple trappings.
-Richard Milhous Nixon,
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PostPosted: Tue Sep 23, 2008 7:18 am Subject:

is Astro lending lega in michigan?? I can not find any information on it anywhere.
thank you

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PostPosted: Tue Sep 23, 2008 7:27 am Subject:

Wendy I don't think Astro Lending is licensed to lend in Mi., but if you want to be absolutely possitive call Michigan Office of Financial and Insurance Services at (877) 999-6442 and ask them. Smile
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PostPosted: Tue Sep 23, 2008 7:34 am Subject:

thank you shazzers. I will call them right away
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PostPosted: Tue Sep 23, 2008 8:16 am Subject: pdl

ALL of the PDL's are illegal in the state of PA? I din't know that ( did I misunderstand?). I haven't looked to see which PDL's ARE illegal in PA. As I said, i don't know if I misread the comment above.
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PostPosted: Tue Sep 23, 2008 8:21 am Subject:

Quote:
ALL of the PDL's are illegal in the state of PA? I din't know that ( did I misunderstand?). I haven't looked to see which PDL's ARE illegal in PA. As I said, i don't know if I misread the comment above.


sdchargers if you were referring to my comment I was replying to Wendy, who is located in Michigan.

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PostPosted: Sun Nov 02, 2008 8:36 am Subject: customer

I am a current customer with questions about my account
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PostPosted: Sun Nov 02, 2008 3:23 pm Subject: debt

Arrowhead Investments ....i think I read somewhere that they are NOT legal in MI. I can't remember where I saw the info. I know it was on the web, but, I apologize..I don't remember what sight.
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PostPosted: Sun Nov 02, 2008 8:51 pm Subject:

PA and TN are the two states that have that weird twist to their pdl laws.
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PostPosted: Wed Nov 26, 2008 7:32 am Subject: Astro lending

who are they, are they legal in mass
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