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 Posted: Tue Dec 02, 2008 8:04 am Subject: NOT store front Pdl's and i live in Pa. |
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Hi, i ran across this and read ALOT of the replies, heres my problem, I too live in pa and have about 5 internet pdl's from other states. I just closed my account and re-opened a new one, thanks to some of the advice on here, and heres what i owe and to whom:
cash net usa orig 400 paid 830 still owe 350
discountadvances orig 700 paid 1230 still owe 420
paydaymax orig 250 paid 375 still owe 220
paycheck today orig 300 paid 270 still owe 390 paydayone orig 700 paid 1490 still owe 900!!!!!!!! what is my next step? anyone help??
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demetriamcneish
Joined: 02 Dec 2008
Posts: 2
Debtcc Points: 43
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| Posted: Tue Dec 02, 2008 11:00 am Subject: |
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Hi,
I will post the laws for PA in a moment, PA is a state that has a "loophole", that is that if a PDL is licensed in another state, then they are legal in PA. You would need to go by the lawa's for the state the pdl is licensed in. I will check your list & see who is/isn't legal.
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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 Administrator of Non-Depository Institutions
Regulator’s Website
Complaint Form
Complaint Instructions
Online Resources:
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_________________
HAPPY NEW YEAR!!!
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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dawnlango7
Debt Samaritan
Joined: 05 May 2008
Posts: 943
Debtcc Points: 3406
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| Posted: Tue Dec 02, 2008 11:07 am Subject: |
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Here is the good news . You should be able to settle these loans very easily. PA is a non-garnishment state so even if the loans are legal you won`t have to fear them suing you and garnishing your wages.
_________________
Scammed ? File complaints at these links
FBI
FTC
State Attorney Generals
www.bbb.org
Losing doesn't make me want to quit. It makes me want to fight that much harder. - Paul "Bear" Bryant
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mobile0311
Debt Samaritan
Joined: 05 May 2008
Posts: 1423
Debtcc Points: 7549
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| Posted: Tue Dec 02, 2008 11:11 am Subject: |
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Here is some more info for you:
CashNetUSA is legal and going under their Nevada license:
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Quote:
Legal Status: Legal
Citation:
Nev. Rev. Stat. 604A.010 et seq.
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
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_________________
HAPPY NEW YEAR!!!
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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dawnlango7
Debt Samaritan
Joined: 05 May 2008
Posts: 943
Debtcc Points: 3406
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| Posted: Tue Dec 02, 2008 11:13 am Subject: |
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PaydayOne is legal and using their DE license:
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Delaware State Information
Legal Status: Permitted under small loan act or licensing law - Legal
Citation:
Del. Code Ann. Tit. 5 § 2227 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified
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 ($1000 aggregate loans outstanding to all licensees)
Rollovers Permitted: Four (rollovers)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees:
Criminal Action:
Where to Complain, Get Information:
Regulator: Delaware Office of the State Bank Commissioner
Address: 555 E. Loockerman Street Suite 210 Dover DE 19901
Phone: (302) 739-4235
Fax: (302) 739-3609
Regulatory Contact: , Administrator, Non-Depository Institutions and Compliance
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_________________
HAPPY NEW YEAR!!!
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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dawnlango7
Debt Samaritan
Joined: 05 May 2008
Posts: 943
Debtcc Points: 3406
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| Posted: Tue Dec 02, 2008 11:15 am Subject: |
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The other 3 are illegal:
Discount advances - illegal - they owe you $530
Payday Max - illegal - they owe you $125
Paycheck today - illegal - you owe them $30
Here is some info to help you:
| Quote: | What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE
What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.
File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.
Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.
Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter.
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_________________
HAPPY NEW YEAR!!!
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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dawnlango7
Debt Samaritan
Joined: 05 May 2008
Posts: 943
Debtcc Points: 3406
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| Posted: Tue Dec 02, 2008 1:10 pm Subject: |
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Now the bad news. The Pennsylvania Department of Banking has never taken action against a payday lender that was not physically in Pennsylvania, licensed or not.
_________________
I was setting up a dead pool, but could think of anyone but Amy Winehouse. Suggestions?
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FreakyFriday
Joined: 13 May 2007
Posts: 385
Debtcc Points: 5060
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| Posted: Wed Dec 03, 2008 9:22 am Subject: many thanks |
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Thank you so MUCH for your quick responses. My bank was SUPERB with understanding and helping me to stop this. I went just like i read on here, and talked to the bank manager and told her the truth and showed her the paperwork as to how much was the original and how much i've paid over the principal! Thank you dawn for the massive info, going to sit tonight and get all the emails ready and hard copies also sent out to the companies! Thank you freaky and mobile also, you dont know how much you ALL help us out here  .
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demetriamcneish
Joined: 02 Dec 2008
Posts: 2
Debtcc Points: 43
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| Posted: Wed Dec 03, 2008 11:08 am Subject: |
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good luck with everything, please keep us posted! this board is great and will help you so much.
_________________
I'm trying to make as much as I can for Christmas! http://www.needbetterdays.blogspot.com
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bea2ls
Joined: 27 Mar 2008
Posts: 865
Debtcc Points: 6410
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| Posted: Wed Dec 03, 2008 1:25 pm Subject: |
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Your very welcome, please let me know if you need any help  Keep us posted on your progress
_________________
HAPPY NEW YEAR!!!
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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dawnlango7
Debt Samaritan
Joined: 05 May 2008
Posts: 943
Debtcc Points: 3406
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