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#1
06-18-2009, 10:56 AM
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payday advances illegal in MD?
If online payday advances are illegal in Maryland, do they have a leg to stand on to collect from me if I have sent them a wage assessment revocation & ACH debit revocation? Can they sue me if payday advances aren't legal in my state? If they continue to call and harass me and I can prove I sent a cease & desist, how do it enforce it?
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#2
06-19-2009, 03:41 AM
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Payday loans are illegal in Maryland and Illegal creditors will not sue you to recover the debt. You are however liable to pay them the principle amount borrowed and not the interest and other finance charges. You can go through http://www.debtconsolidationcare.com...-dealings.html to know more on how to deal with illegal pdls.
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#4
06-19-2009, 08:16 AM
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They really don't have a leg to stand on therefore the most they can do to you is harrass you to death, IF you allow them too. Don't even talk to them and attempt to negotiate because the chances are slim to none they will. The ball is in your court, offer to pay them back (principal amount only), ask them for an address. Simply tell them, no address, no payments, that's really all you need to say to them.
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#5
06-19-2009, 08:29 AM
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i agree with shazzers, some people do not mind using a prepaid debit card to pay them but i always demanded a physical address before paying. they do not like that but i have no idea why they would have a problem, they should be happy to collect payment, i say.
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I'm not as fed up anymore.. making extra money http://www.needbetterdays.blogspot.com
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#6
06-19-2009, 10:18 AM
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bea2ls, I agree with you; you would think that any legitimate company would give all the information possible in order to collect, wouldn't you? I've also asked the PDL's to provide me with a letter on company letterhead, saying I do in fact owe a legal debt. Needless to say, they haven't come up with that, either. Of course, as far as providing a physical address, these places operate with SO many different addresses it's entirely possible they've forgotten themselves which one is "real!"
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#7
06-19-2009, 11:24 AM
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lol, that is true! they do not know where they are supposed to be located!
__________________
I'm not as fed up anymore.. making extra money http://www.needbetterdays.blogspot.com
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#8
06-19-2009, 11:29 AM
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Please check to be sure you are dealing with Pay day lenders and not CSO. In Maryland some are now using the guise of CSO to bypass the pdl laws.
Do a search in the above box for MD CSO and you will find all the info. Or you can ask shazzers
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#9
06-20-2009, 02:32 PM
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Oh yes!! The CSO's are just payday lenders who found a way to be legal. I spoke on friday with somebody from the Maryland Commissioner for Financial Regulation in Baltimore. They confirmed that CSO's are legal but they also said that they sent my documents to the AG office. Hopefully one day MD will block the CSO's too.
But for all of you who have pdls that claim they don't have to go by the MD laws...don't listen!! As long as you were a MD resident when you took the loan you have to go by MD laws. And this means pdls are illegal in this state. Once you paid the principal you are done!!
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#11
06-22-2009, 11:53 AM
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From my experience as long as you paid back the principal of the loan the illegal pdls will close your account and stop bothering you. Of course they will say the Maryland state government is wrong and they are right....it's up to us if we believe the pdls or not.
They did threaten me with the famous "downloading", they were rude on the phone...but in the end once I revoked their ACH authorization none of the pdls continued to debit my bank account. The list of illegal pdls which gave me a PIF includes Payday Max, Iadvance, Fastmoney911 ( I got a refund from them too), Qloot, Shamrock, Cardinal Management, CashSpot , StarAdvance. There might be another one or two which I forgot about. Cashnet USA offered me the EPP and so did Cash Central. I also want to say that I have never sent any mail to the pdls; I have only used faxes and e-mails. I kept faxing and e-mailing them the same CD letter every single day untill I got my PIF. After faxing them I was also calling them to ask if they did receive my fax and inquire about the status of my account. SO do not wait for them to call you....you gotta call them! They will be so annoyed that sometimes I got a PIF in as little as 2 hours. Good luck everyone!
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#12
07-22-2009, 12:05 PM
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I just found out that payday loans are illegal here in maryland, and i have 3 that are outstanding. I am getting nsf charges left and right and just keeps racking up. I found out that i have to fill out the affidavit of forgery becuase they illegally gave me money. can anyone help with this? or is there an easier way to get my nsf charges back?
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#13
07-22-2009, 12:37 PM
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guest, i am unsure of how to get the nsfs back - i think it is something you and your bank have to work out. loans are prohibited in my stated and i ended up having to my nsf (and got reported to chex systems!)
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I'm not as fed up anymore.. making extra money http://www.needbetterdays.blogspot.com
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