12-27-2008, 07:56 AM
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Georgia law in regard to out of state payday loan
I am a Georgia resident
I obtained a payday loan at a store in Alabama (the money store) they nsf'd my bank 3 times now threatining legal action, recieved summons from Alabama small claims court Are Georgia residents protected from out of state lenders if the loan was made in Alabama at a storefront?????? I have heard various opinions but need facts before I go to court, or dont go to court. Thanks. 
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12-27-2008, 08:12 AM
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I'm not certain about this but I am going to direct this to someone who does. Keep checking back.
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12-27-2008, 02:34 PM
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Crossing a state line to get a loan subjects you to the laws of the lenders state. The recent appeals court decision in Quik Payday makes it clear that "something" has to happen in your state - other than the mere fact that you live there - for your state's laws to apply. In that case, the appeals court used the hypothetical of a Kansas resident that works in Missouri getting an internet loan from their work computer instead of their home computer. They said that if a Missouri computer was used Kansas law wouldn't apply. (They didn't say whether Missouri law or the lender's state law would apply.)
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12-28-2008, 06:10 AM
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Check with your states Department Of Financial Inst. They would be able to help answer your questions.
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