Arrowhead Investments and Astro Lending

jules-l76

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

phoenix · Sub: #2 Replied on 09-21-2008, 09:04 PM

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, Â§ 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. Â§ 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

dawnlango7 · Sub: #3 Replied on 09-22-2008, 07:38 AM

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.

wssu91 · Sub: #4 Replied on 09-22-2008, 08:42 AM

Arrowhead is in KS

sdchargers_63 · Sub: #5 **debt** Replied on 09-22-2008, 09:27 AM

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?

dawnlango7 · Sub: #6 Replied on 09-22-2008, 09:46 AM

Yes, if Arrowhead is licensed in Kansas then they would need to follow the Kansas laws

wendylynn93 · Sub: #7 Replied on 09-23-2008, 07:18 AM

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

Shazzers · Sub: #8 Replied on 09-23-2008, 07:27 AM

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.

wendylynn93 · Sub: #9 Replied on 09-23-2008, 07:34 AM

thank you shazzers. I will call them right away

sdchargers_63 · Sub: #10 **pdl** Replied on 09-23-2008, 08:16 AM

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.

Shazzers · Sub: #11 Replied on 09-23-2008, 08:21 AM

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.

Anonymous · Sub: #12 **customer** Replied on 11-02-2008, 07:36 AM

I am a current customer with questions about my account

sdchargers_63 · Sub: #13 **debt** Replied on 11-02-2008, 02:23 PM

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.

kfstaff24 · Sub: #14 Replied on 11-02-2008, 07:51 PM

PA and TN are the two states that have that weird twist to their pdl laws.

Anonymous · Sub: #15 **Astro lending** Replied on 11-26-2008, 06:32 AM

who are they, are they legal in mass

Anonymous · Sub: #16 **Arrowhead Investments** Replied on 07-14-2009, 09:32 AM

Does anyone know if Arrowhead Investments is legal in California?

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Arrowhead Investments and Astro Lending

Community

Call for debt help

( Open 7 days till 9 )

Question of the month

Must know it

Featured Discussions

Follow us and tweet

Latest in Forum

Our Community

Latest in Blog