Pdls in Indiana: Illegal?

I live in Indiana & would like to know if these internet pdls are legal????

DollarFlash
Pay1Day
National Payday
USAQuickPayday

THANKS!

State Legal Status
Lending of payday loan is considered legal in the State of Indiana.

Loan Specifications

• Maximun Amount of Loan - $550 (should not exceed 20% gross monthly income of the borrower)
• Term of Loan - 14 days
• Maximum Rate of Finance and Fees- a) 15% for a loan of $0-$250; b) 13% for a loan of $251-$400; b) 10% for a loan of $401-$500
• Finance Charge on $100 loan for a 14 day period - $15
• APR for $100 loan for a 14 day period - 390%

Debt Limits

• Maximum Number of outstanding loans permitted at a time - 2 in total (1 per payday lender)
• Permissible number of Rollovers - None (cannot refinance, consolidate, repay or renew)
• Cooling-off Period - 7 days after a period of 6 consecutive loan days
• Repayment Plan - After giving three consecutive loans to a borrower, a payday lender must offer an EPP (Extended Payment Plan) to the borrower of atleast 4 equal installments without charging any additional cost.

Limits of Collection

• Collection Fees Amount - a) One NSF fee of $20; b) If authorization to debit or check was used to defraud another then additional charges may be applied.
• Criminal Action - Prohibited

File your Complaint and get Information

• Regulator - Indiana Department of Financial Institutions
• Address - 30 South Meridian Street, Suite 300 Indianapolis IN 46204
• Phone - (800) 382-4880
• Regulatory Contact - Mark Tarpey, Supervisor, Consumer Credit

Payday One is definitely legal, ask them for an EPP (Extended Payment Plan). Internet payday lenders must be licensed by your state to lend legally, you can click the link below to check and see if any of yours are licensed:
http://extranet.dfi.in.gov/dfidb/nondep.aspx

By the way, if you find some of yours are not licensed, CLICK HERE to find out how to deal with illegal lenders.

Oh wait, is that Payday One or Pay1day? If it's the latter, check the data base to see if they are licensed because I've not heard of that one before.

Are these licensed in Indiana? I am considering closing my bank account if these are not legal. I have paid fees that exceed the loan amounts.....any recommendations?

Check the licensee data base with the link I gave you in the above post to see if they are licensed.

If you can't find any license for any of them in the licensee data base then all you would owe them is the amount you borrowed to begin with, less any payments, fees and interest. I gave you another link on how to deal with illegal lenders, all of your questions should be answered in that thread as well as a letter template.