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#1
09-09-2009, 07:55 AM
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payday loans in LA
I live in Louisiana and have illegial payday loans I have sent letters to for a PIF. I have overpaid on the pdl. I am looking for something that states the contract stating that I will abide by the state law where the pdl is located and not my state is voided if not a licensed pdl lender. Can anyone help. I have checked the Lousiana states sites and can not find anything.
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#2
09-09-2009, 09:01 AM
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I can give you the link for your payday loan laws, you can print them out and email them to the company in question BUT, it doesn't state that anywhere. It just stands to reason that YOUR STATE LAW PREVAILS. That's really all you need to say to these unlicensed lenders. They already know this, but they will use any tactic they can think of to make you believe otherwise. Link below:
http://www.debtconsolidationcare.com...pdls-laws.html Lousiana requires Internet based pdl's to be licensed by your state. If in doubt call yourLouisiana Office of Financial Institutions at (225) 925-4660. __________________
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates! Online Complaints Ohio Attorney General Online complaints: Federal Trade Commission. Ohio Payday Loan Laws CLICK HERE to find a Creditor
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#3
10-09-2009, 04:26 AM
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I have a $400.00 loan pdl with Nationwidecash.com. Since I started paying them back, I have paid $600.00 in fees and $50.00 in principle. Their interest rate on a 14 day APR is 792% and after faxing them twice denying them permission to remove further funds from my account, they took out $170.00 this morning, $120.00 fee + $50.00 principle, prior to this morning they had removed $480.00 in fees only. I live in Louisiana and they are an internet pdl. I have contacted the BBB, LA OFI, LA AG's Office and last evening IC3. Other than closing my account, what more can I do? I am about to fax them another letter denying them permission again from deducting my bank account and I will also dispute the charge with my bank.
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#6
10-15-2009, 04:14 AM
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Well, Nationwidecash got me before I could close my account. They took out $520.00, this even after I faxed them 2 signed notices that their drafting priviliges had been revoked. I called them and spoke with a Mr Lake and I let him have it. I told him they violated Louisiana law and he said they don't have an office in Louisiana so they don't have to follow the states laws, only Delawares, where their office is located. So now I have paid $1000.00 on a $400.00 pdl. Unfortunately Delaware law allows them to screw people. But it seems I should have some kind of recourse against them because they did withdraw funds from my account after their privilages were revoked. I did file a dispute with my bank.
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#7
10-15-2009, 05:59 AM
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Well I spoke with Mr Braud from the Louisiana OFI and basically there is nothing I can do. According to him, there is no such thing as a pdl under Louisiana law, that they fall under the Louisiana Consumer Credit law anfd they can charge or loan whatever amount.
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#8
10-15-2009, 08:17 AM
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Mr Braud also said that they could sue me at whatever the legal limit is of the loan, plus 34% p.a., plus fees. They could also file criminal charges too, if I close the account knowingly owing them money.
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#9
10-15-2009, 11:49 AM
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__________________
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates! Online Complaints Ohio Attorney General Online complaints: Federal Trade Commission. Ohio Payday Loan Laws CLICK HERE to find a Creditor
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