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 Posted: Tue Mar 04, 2008 10:09 am Subject: Payday Loans Illegal in Pennsylvania
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I found this information on the internet. Being that they are illegal, is there anything that I can do to not make payments to them, being they are illegal companies? I added some information but am not sure if I did it correctly.
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Bayley5
Joined: 22 Feb 2008
Posts: 121
Debtcc Points: 2115
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Posted: Tue Mar 04, 2008 10:10 am Subject:
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My attachment did not work. Can someone tell me how to do it? What I did was pull information from the internet, similar to what the other mediators are attaching.
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Bayley5
Joined: 22 Feb 2008
Posts: 121
Debtcc Points: 2115
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Posted: Tue Mar 04, 2008 10:11 am Subject:
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If a pdl is licensed anywhere, they are considered legal in PA. You need to find out if your lenders are licensed.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5461
Debtcc Points: 38903
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Posted: Thu Apr 17, 2008 9:18 am Subject:
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I just looked up pay day loan yes on the internet and cannot find any licensing information on them. How can I stop them from calling me at work? I just sent them an email to their "concern" email address to request my paperwork.
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Bayley5
Joined: 22 Feb 2008
Posts: 121
Debtcc Points: 2115
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Posted: Sun Aug 31, 2008 4:45 pm Subject: Kashzan please check your facts
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No PA had a domicillary law that any business that lent money must be in PA. However they have recently changed that law and all pdl's (even those over the internet, through the mail) must be registered and licensed in the state
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Guest
Guest
Debtcc Points: 100
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Posted: Sun Aug 31, 2008 9:12 pm Subject:
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They didn't change the law, Guest. The PA Department of Banking issued a policy statement changing its interpretation of a very old law concerning consumer loans. (The same law the Department said in 2005 doesn't apply to lenders outside of PA as long as they are licensed somewhere.) The new policy doesn't go into effect until February 2009, so as of today kashkan is correct.
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FreakyFriday
Joined: 13 May 2007
Posts: 368
Debtcc Points: 4956
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