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 Posted: Thu Oct 11, 2007 8:59 am Subject: PA payday loan Hell!!!
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I have several pdls in Pa and I clsoed out my chechecking account becasue the fees were crazy!!!! I need help figuring out who is legal and who isnt who Ive paid too much to and who I still owe. PLEASE HELP!!!
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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Posted: Thu Oct 11, 2007 9:03 am Subject:
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| Quote: | Pennsylvania State Information
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
Where to Complain, Get Information:
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
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Please let us know who you have loans with, are they internet or store front?
how much do you owe each lender, how much have you paid back to each, add fees and principle to get one total for each lender
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5458
Debtcc Points: 38911
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Posted: Thu Oct 11, 2007 9:12 am Subject:
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All are internet
payday one laon $500 paid $729
Cashnet USA $450 paid $226
us fast cash $300 paid $270
upfront payday $200 paid $180
Rapid cash $400 paid 240
One step cash $300 paid $180
Northway (CTC) $200 paid nothing
Genevea roth $ 300 pid nothing.
CTC is stating they are going to attach wages and wont take a payment and rapid cash will not send me anything to pay off loan in full which worries me! They just want a money gram.
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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Posted: Thu Oct 11, 2007 9:19 am Subject:
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PA allows internet based companies with no physical location in PA to lend under another state's license and laws.
I can tell you right off that Payday One is licensed. I'm not sure which state's license they are using for PA, I'll check on that one.
Cash Net USA is licensed and lending under their Nevada license.
_________________
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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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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Posted: Thu Oct 11, 2007 9:21 am Subject:
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how do i find out the law for nevada?
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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Posted: Thu Oct 11, 2007 9:22 am Subject:
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| Quote: | Nevada State Information
Legal Status: Legal
Citation:
2005 Nev. Stat. 414 (A.B. 384)
Loan Terms:
Maximum Loan Amount: 25% of expected gross monthly income
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %)
Finance Charge for 14-day $100 loan: No Limit
apr for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Not Specified (Lenders cannot extend payment period beyond 60 days after expiration of initial loan period)
Cooling-off Period:
Repayment Plan: Yes
Collection Limits:
Collection Fees: $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account) Court Costs; Reasonable Attorney's Fees; Service of process costs
Criminal Action: Prohibited (Unless customer acted with criminal intent)
Where to Complain, Get Information:
Regulator: Nevada Financial Institutions Division
Address: 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121
Phone: (702) 486-4120
Fax: (702) 486-4563
Regulatory Contact: , Supervisory Examiner
Regulator Website
http://www.fid.state.nv.us/ |
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5458
Debtcc Points: 38911
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Posted: Thu Oct 11, 2007 9:24 am Subject:
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Thanks! How do I get the maximum % charge permitted?
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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Posted: Thu Oct 11, 2007 9:25 am Subject:
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Payday One is probably lending under their Deleware license . . . But that isn't 100% for sure.
_________________
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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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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Posted: Thu Oct 11, 2007 9:26 am Subject:
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There is no max for Nevada . . . . That's why they use that license. Same for DE, no interest rate cap.
_________________
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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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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Posted: Thu Oct 11, 2007 9:30 am Subject:
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Thanks you guys are awesome!!!!
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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Posted: Thu Oct 11, 2007 9:31 am Subject:
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I think, but am not 100% positive, that the other companies you are dealing with are not going to be licensed anywhere, making them illegally operating companies . . . . No interest at all for them!
_________________
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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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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Posted: Thu Oct 11, 2007 9:51 am Subject:
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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Northway/CTC is bad news and illegal everywhere. They are based in malta with call centers in Canada. You must send them a letter revoking the wage assignment that you agreed to with them. As soon as you are behind with them they will send a letter to your employer trying to get there money. Wage assignments are voluntary and illegal in some states. You have a couple on their that are extremely difficult to deal with. I have heard that there may be changes in PA law but I will need someone with more knowledge to answer that.
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frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3767
Debtcc Points: 31152
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Posted: Thu Oct 11, 2007 10:01 am Subject:
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This is probably why rapid cash wont put anything in writing!!!! They're in Utah and want money but wont email or fax a "bill"..... How do I resolve????
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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Posted: Thu Oct 11, 2007 10:17 am Subject:
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DO YOU KNOW IF THERE IS A GENERIC TEMPLATE I CAN USE TO REVOKE WAGE ASSIGNMENTS?
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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Posted: Thu Oct 11, 2007 10:19 am Subject:
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All you need to say is
I (name) hereby revoke any and all wage assignments that I mat have given to you , or your affiliates.
Also give a copy to your employer.
You can send the same thing revoking Ach debits(this they will porably ignore)
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5458
Debtcc Points: 38911
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Posted: Thu Oct 11, 2007 10:29 am Subject:
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Thanks!!! I think you guys are my new bffs..... Anyone know anything about rapid cash?
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karwatske20
Joined: 11 Oct 2007
Posts: 18
Debtcc Points: 519
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