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 Posted: Mon Oct 06, 2008 3:33 pm Subject: Need help in Florida |
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Hi guys, I'm new to this group but not new to the situation that we are all in. I live in Florida and have 4 ipdls. They are ameriloan, Loanshop online, United cash loans and kenwood services. I'm researching how much I have paid these guys and will post this soon, but my first question is, how many of these are legal in florida? I know i have paid Ameriloan over 600 for a 300 loan. The others as I said I'm still researching. Can anyone tell me which ones are legal and which ones aren't? This will help me decide which plan of action to take.
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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| Posted: Mon Oct 06, 2008 3:39 pm Subject: wrong forum |
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Sorry guys, still new to this area. My message was supposed to go into the Payday loan help forum. Any ideas to move it to that one?
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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Shazzers
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Posts: 4646
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| Posted: Mon Oct 06, 2008 5:53 pm Subject: |
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I know that ameriloan isn't legal in FL, you are done with them, and in fact they owe you money, all you are obligated to pay back an illegal lender is the principal amount! Florida requires Internet based pdl's to be licensed by your state, keep in mind though, there are some payday loan companies acting as CSO's (Credit Service Organizations). This means they do not need to be licensed, and are generally 100% legal in what they charge.
| Quote: | Florida State Information
Legal Status: Legal
Citation:
Fl. Stat. Ann. ยง 560.401 et seq.; Rule 69V-560.901-912
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes
Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748 |
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
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| Posted: Mon Oct 06, 2008 5:56 pm Subject: PDL VS CSO |
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Thanks for the info Shazzers, so how do I find out if these companies are cso's in Florida. From what I'm reading, United Cash Loans isn't legal either, as well as loanshop online. Have you ever heard of Kenwood services? I can't find anything on them.
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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| Posted: Mon Oct 06, 2008 5:58 pm Subject: |
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Thanks for moving the post, Shazzers. I think I put another one on here by mistake. Can you please delete that one?
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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Shazzers
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Posts: 4646
Debtcc Points: 29039
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| Posted: Mon Oct 06, 2008 6:02 pm Subject: |
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I finally put together how much I have paid to these companies.
Ameriloan: borrowed 300, pd 625
Loanshop online: borrowed 300, pd 90
United Cash Loans: borrowed 200, pd 350: borrowed(again):300, pd 0
Kenwood services: borrowed 300, pd 435: borrowed (again): 350, pd 0.
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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| Posted: Mon Oct 06, 2008 6:08 pm Subject: |
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I just wonder if the loanshop online you are dealing with is the same as the one below??? I've read SO many loan shops on this site I get confused as to which is which. lol If this is the same one, that means they aren't licensed. Would you happen to have an address on your loan papers you could check? Because I'm not certain about this one. 
Loan Shop
E-Care/Sonic Payday/Cash Transfer Centers/Loan Shop/Northway Credit (these are all one company)
13696 104th Avenue
Surrey, BC Canada V3R 1V9
phone: 1-866-958-3278
fax: 1-866-809-4069
email: customercare(at)cashtransfercenters.com
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
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Posts: 4646
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4646
Debtcc Points: 29039
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4646
Debtcc Points: 29039
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| Posted: Mon Oct 06, 2008 6:15 pm Subject: |
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I hope the information below will help you. 
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender. This doesn't apply to CSO's.
| 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. |
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
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Posts: 4646
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| Posted: Mon Oct 06, 2008 6:25 pm Subject: |
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Again, thanks for the help Shazzers. The address I have for loanshop online is 2207 Concord Pike #505 Wilmington, DE 19803 ph:800-806-9971
and kenwood services I only have a phone # 877-794-5562
I can't find any info about them either. I will get to work right away on the things you suggested, starting with closing my account. I also have an installment with Think Cash but I have already learned from this forum that I will have to deal with them differently.
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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Shazzers
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Joined: 05 Dec 2007
Posts: 4646
Debtcc Points: 29039
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| Posted: Mon Oct 06, 2008 7:00 pm Subject: |
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Thanks for your help Shazzers, I'll check in tomorrow to see if anyone has any more info. In the meantime I've got plenty to do! Take care.
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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| Posted: Thu Oct 09, 2008 2:00 pm Subject: Bank of American and ACH processors no help |
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Well, through my own stupidity, my account became overdrawn yesterday through unrelated financial transactions, not payday loans. So first I called the ach processor and she told me that she could not help me unless I had filed a claim with the bank. I didn't really understand what she was talking about but I did find out that at least two of my illegal payday loans are processed through them. I went to bank of america and was told repeatedly that there was nothing they could do to my account until I paid the negative balance. She also called customer service or some service number and they also told her there was nothing she could do. My account is now 329$ overdrawn and probably the nsf charges from the debits haven't been added yet. I am starting to get really frustrated. I tell these people the things that I've learned from this forum and have been don't "don't believe everything you read on the internet" this came from the ach processor stefanie. somebody please help!!!
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tamarang40
Joined: 05 Oct 2008
Posts: 23
Debtcc Points: 359
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