Internet's first get-out-of-debt community - 199,000 members

jrodriguez3 · 08-19-2008, 06:24 PM

Hello all, I have some unfortunate payday loans that are all from the internet. The help I am seeking is which ones are illegal pdl's and which one are legit. I live in CA so I know they have strict tough laws regarding pdl's. The companies I have these with are through:

Unitedcashloans
ameriloan
Sandpoint a.k.a. clearwaterbaymarketing
FTR processing
VIP payments
EZ payday cash
discount advances
Paragon
VIp Cash which I believe is qloot
payday max

I know that a couple or more have a cease and desist order against them in CA, but I do not know what to do if they do have the order against them. I have a feeling now that most or all are illegal but with your guy's help I am seeking advice on how to get rid of them. I have already closed my checking account and reported Unitedcashloans to the AG office and left a message with the CA Dept of Corp. Please help me. Thank you.

danilewis82 · 08-20-2008, 06:16 AM

Quote:

Legal Status: Legal

Citation:
Cal. Fin. Code Â§Â§ 23000 to 23106

Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact: ,

danilewis82 · 08-20-2008, 06:18 AM

it says that you are only supposed to have on loan at a time also rollovers are not permitted

from looking at your list i can tell you that ameriloan and united cash loans are not legal, the rest i am not familiar with, but i would suggest you using the search box above, it can be very helpful

Hope that helps