LLS America loan in florida

from what I can tell LLS, or little loan shoppe, is only licensed in Utah, and as a consumer lender, not any type of bank.

They do hang their hat on this 'unsecured short term loan' but it seems they would need to be licensed to issue loans to florida citizens. Any idea on how to fight?

I have paid these guys thousands in fees over the last year. At present I have a $350 loan that I have paid over $600 on so far with little to no decrease in principal. Any idea on whether I can fight this? Appreciate all the knowledge in these forums.

They are not licensed in FL. Follow the advice in the sticky dealing with illegal payday loans. Trust what all the experts here have to say they have all helped me with my illegal loans in FL.

go the sticky tousi76 mentioned follow it every step.you waaaaaaaay overpaid this loan as tousi stated this is an illegal lender and you only owe the principle.also since this is internet.it is non-enforcable,and non-collectable.

Sorry to question, but I just wanted to make sure.

Does it matter any that they call themselves unsecured short term lenders as opposed to a PDL?

I just want to get over and done with these guys. Just ran my numbers and i took 4 loans over the last year and some months, mostly to try and recoup clearing past loans. I took loan amounts $300 and paid $1230 by the time it settled, another $300 at $1200, a $200 at $260, and this most recent one, which is the only one I have open at the moment, with $612.50 paid on a $300 loan.

Does it matter at all they are an 'unsecured lender' and that i provided no check to hold? That is my only worry, I want to revoke ACH and any other agreements and lock this up now to avoid continued overpayment. I just worry about any legal action as I have been rebuilding my credit and mainly used this to avoid other lates

It does not look like they are backed by any bank in Utah. From what I can tell by looking at their site and the type of license that they have in Utah they are nothing more than a payday lender trying to state they are not. Unless someone else can verify that they are backed by a bank Little Loan Shop still has to follow FL law dealing with short term lending, aka payday lending.

the state of FL will not license anyplace that isn't physically locate in the state.therefore this illegal can claim whatever they want.they are illegal.

OK, so I have called my bank and had the last 2 ACHs reversed, which will leave my payment on the 350 loan at 367.50, still more than the usurious 18% annual rate in FL. The last hit drew me just over so tomorrow when the ACH credit hits I will close my account. I am sending out ACH/Wage revoke and also a letter limiting any communication. I figure to CC the BBB, FL DFI, FL AG, any other tips? I notice it looks like there is some federal investigation into these guys.

Anyone have any stories about ACH reversal and collection? Even after the reversal I will have paid these guys 2000 over the course of a year and 4 loans. I am closing the account I just worry about my employer or references getting calls, and getting sued.

Thanks again everybody

I would demand a refund for the total amount that you have been overcharged. Also to help with some of your worries I have found through this site as well as phone conversations with FL AG's office and the Office of Financial Regulation that not only are the loan contracts unenforceable but FL law also makes it impossible to collect on an unlicensed payday loan.

The ACH reversals came back today and got me back 2 ODs caused by it, so at this point there are 3 payments not reversed, totaling $367.50 on a $350 loan that was open 34 days.

It sounds like i am only stuck for principle, and I don't care to fight out the $17.50, it is already more than the usurious rate in my state so I am hoping that bolsters my argument should it get to collections. I am sending my ACH and Wage assign revokes today although the lender is closed. I am also closing my bank account now that the payments are reversed.

Do they have any case for collection or suit against me at this point?
Any recommendations besides notifying by CC my state AG, finance department, ftc, bbb?
I worry about the collections process but I believe my 2 references have since changed phone numbers.

and by my rough calculation, extrapolating the annual rate based $17.50 over 43 days puts me at over 42%