Dealing With Unlicensed Payday Lenders

Please make a new thread in the forum and we can help more.

Just at a quick glance there are some you listed that are illegal.

I live in GA and have 2 payday internet loans. Are these illegal?

To the guest above,

To furthur assist you, please start another thread listing your PDL names, how much you borrowed, and whether they are storfront or internet lenders. Thanks!

"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. "

So how does this work with lenders that don't allow you to make interest only or principal + interest payments? The ones that require you to pay in full and then reloan?

For example I'm basically paying $200 a month for a $300 loan, and have been for the last 6 months, however they only offer full repayment, and then reloaning, as an option.

1) Am I able to apply the interest paid for the same loan amount, at least during this year?

2) This is a company I have confirmed is illegal in my state and is not a CSO, so does it even matter? If the lender is illegal would I technically be required to repay them anything at all, even if I had just taken out the loan?

well stu,if you borrow you should at least pay back what you borrowed.we always advocate that.they can't however charge interest or fees.ant contract they come up with is worthless as they are unlicensed.two questions.
how much was borrowed?
how much was debited total by this pdl?
that would help us help you.

Hi Paul. I have my own thread with all my info, I was just wondering about that one aspect of dealing with PDL's. From doing searches it looks like I'm going to have to work out paying the principal on these, but thats fine. As long as I'm freed from that insane interest and can set reasonable terms for the repayment.

Can I get the link to the letter template. This way I can send to the PDL company that is not legal?

Link
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Scroll down to the 13th post.

I live in Texas and currently have 3 PDLs ..Thinkcash, Paydayone and Discount advances. All are internet based.
I am not sure how to tell if they are legal or not. Is there anything I can do to get out of this mess

Think =cash is not a PDL, it is an installment loan backed by a FDIC bank. They are Legal and you should contact them to try and work out a settlement.
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Paydayone is a PDL and is also Legal. They have a reputation for being reasonable in working out repayment plans.
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I am not to sure about Discount Advances. I will check them out and get back to you. This PDL might be registered as a CSO in Texas.

Has anyone dealt with payday lenders in New York State I understand that they are illegal and was wondering what has happened after closing your bank account because I closed mine last week and they are calling and sending crazy emails.

I live in Virginia and have 6 pdls out -
Sonic Payday - $731. ($503,92 & $217.47 for nonpayment of last loan
Payday Services - $650.
Cashadvancenetwork - $500.
Paycheck Today - $420
Cash Today - $420.
do I have to pay them back -They have tried debiting my checking account twice and each time they were returned because of insufficient funds and I had over 900 in NSF How do I go about telling them I don't have to pay because I know they are illegal in the Commonwealth of VIrginia but the pdls are in different states I have also applied for debt consolidation help with the Oak View Law Group. Please let me know what to tell them when they start calling me on
Monday and they do call me at work. ALso where can I find the letters about ach and abour revoking the loans

Karen

I live in Ga and have 4 internet payday loans, Cashtree,Lakota Cash, 1800899cash.com and Payday loans of America. Please Help.

Payday loans are prohibited in GA.

Please make a new thread and we can help you more.

I live in the state of Ga, I have 4 internet pdls. I lost my job recently so now when they go into my account every two weeks for payment, no funds are available. Do I have to repay the loans since they are illegal in Ga?

You should repay what you borrowed, you not have to repay all of the fees and intrest but the amount you borrowed needs to be repaid