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Sub: #33
Replied on 08-28-2007, 12:13 PM
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So they are not charging more then 18% interest, since the fees by law cannot be considered interest.



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Sub: #34
Replied on 08-28-2007, 12:16 PM
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Nope - I just found their registration:
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Sub: #35
Replied on 08-28-2007, 12:16 PM
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Ch 516 also says that



WOuld that play into this?



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Sub: #36
Replied on 08-28-2007, 12:17 PM
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The inactive registration is probably from before when they did act as a pdl. The new registration is for the CSO. So they are following Florida law to the letter.



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Sub: #37
Replied on 08-28-2007, 12:18 PM
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No, because they are a CSO. They are not making you the loan. They are only brokering the loan. Making them not the actual lender.



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Sub: #38
Replied on 08-28-2007, 12:22 PM
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Here is their active registration for Florida
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I earn at least $20 extra every month doing offers. And you don't have to pay a cent.



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Sub: #39
Replied on 08-28-2007, 12:28 PM
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Here are all the Florida laws which deal with CSO's:





http://www.leg.state.fl.us/statutes/...Section%207005

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How I make some extra cash

I earn at least $20 extra every month doing offers. And you don't have to pay a cent.



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Sub: #40
Replied on 08-28-2007, 12:29 PM
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Quote:
817.701 Surety bonds; exemption.--The requirement to obtain a surety bond and establish a trust account as provided in s. 817.7005(1) shall be waived for any salesperson, agent, or representative of a credit service organization where the credit service organization obtains such surety bond and establishes such trust account.
Quote:
817.702 Statement to buyer.--Upon execution of the contract as provided in s. 817.704 or agreement between the buyer and a credit service organization and before the receipt by the credit service organization of any money or other valuable consideration, whichever occurs first, the credit service organization shall provide the buyer with a statement, in writing, containing all the information required by s. 817.703. The credit service organization shall maintain on file for a period of 5 years an exact copy of the statement, personally signed by the buyer, acknowledging receipt of a copy of the statement.
Quote:
817.703 Information statement.--The information statement required under s. 817.702 shall include all of the following:

(1)(a) A complete and accurate statement of the buyer's right to review any file on the buyer maintained by any consumer reporting agency, as provided under the Federal Fair Credit Reporting Act, 15 U.S.C. ss. 1681-1681t;

(b) A statement that the buyer may review his or her consumer reporting agency file at no charge if a request is made to the consumer reporting agency within 30 days after receiving notice that credit has been denied; and

(c) The approximate price the buyer will be charged by the consumer reporting agency to review his or her consumer reporting agency file.

(2) A complete and accurate statement of the buyer's right to dispute directly with a consumer reporting agency the completeness or accuracy of any item contained in any file on the buyer maintained by the consumer reporting agency.

(3) A statement that accurate information cannot be permanently removed from the file of a consumer reporting agency.

(4) A complete and detailed description of the service to be performed by the credit service organization for the buyer and the total amount the buyer will have to pay, or become obligated to pay, for the services.

(5) A statement notifying the buyer of his or her right to proceed against the bond or trust account required under s. 817.7005.

(6) The name and address of the surety company which issued the bond, or the name and address of the depository and the trustee and the account number of the trust account.


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How I make some extra cash

I earn at least $20 extra every month doing offers. And you don't have to pay a cent.



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Sub: #41
Replied on 08-28-2007, 12:31 PM
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I earn at least $20 extra every month doing offers. And you don't have to pay a cent.

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Sub: #42
Replied on 08-28-2007, 12:47 PM
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Well deflate my hope why don't you? No seriously thanks for posting the information. It just confuses me that I tell the investigator that they are operating as a CSO and she says they fall under ch 516.



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Sub: #43
Replied on 08-28-2007, 12:52 PM
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That would be great if they did!

The only problem is that federal law states that fees paid to a CSO cannot be considered interest . . . . CSO's are a relativly new thing, and it's possible that the person you were talking to isn't familiar with them yet.

You should tell her about all this. The CSO "payday lender" model needs to stop. It's just another way for these places to skirt the laws. It's sick.



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Sub: #44 reply
Replied on 08-28-2007, 07:23 PM
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goudah, I must say - you are awesome! Your research is absolutely wonderful! Once again, a mystery cleared up by Miss Goudah!

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Sub: #45
Replied on 08-28-2007, 08:19 PM
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Is usfastcash licensed /operating legally in state of pa? Reside in oaklahoma bank of nevada or utah

Yes it's jules in pa

Netcashusa licensed/ operating legally in state of pa?

Geneva-roth lic? (loanpointusa) ooperating legally in state of pa? They reside in kansas and thru bank of utah?


My hearrtfelt thanks

Jules



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Sub: #46 reply
Replied on 08-28-2007, 08:34 PM
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julie, hang on. morningstarr and I are both searching to see who is licensed on your other post. Stick to that post. We're working on it right now.

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