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 Posted: Mon Aug 25, 2008 1:21 pm Subject: pay day loans in mississippi |
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I have probably three pay day loans and I can't pay them right now. What can I do?????
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scolburn
Joined: 25 Aug 2008
Posts: 6
Debtcc Points: 52
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frogpatch
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| Posted: Mon Aug 25, 2008 1:51 pm Subject: |
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3 internet loans
3B financial--300 paid 100
zip cash--500 paid 300
total lending--300 paid180
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scolburn
Joined: 25 Aug 2008
Posts: 6
Debtcc Points: 52
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4630
Debtcc Points: 28954
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| Posted: Mon Aug 25, 2008 4:26 pm Subject: |
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Mississippi requires Internet based pdl's to be licensed by your state to be legally lending to Mississippi residents.
| Quote: | Mississippi State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
Miss. Code Ann. ยง 75-67-501 et seq.
Loan Terms:
Maximum Loan Amount: $400
Loan Term: Max: 30 days
Maximum Finance Rate and Fees: 18% of check
Finance Charge for 14-day $100 loan: $22
apr for 14-day $100 loan: 572%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot renew or otherwise extend)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: NSF fee; Court-awarded fees (if disclosed)
Criminal Action: Prohibited (When check returned due to NSF)
Where to Complain, Get Information:
Regulator: Mississippi Department of Banking and Consumer Finance
Address: 901 Woolfolk Building, Suite A 501 N. West Street Jackson MS 39201
Phone: (601) 359-1031
Fax: (601) 359-3557
Regulatory Contact: Ronny Harrison,, Chief Examiner, Consumer Finance |
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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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Joined: 05 Dec 2007
Posts: 4630
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| Posted: Mon Aug 25, 2008 4:33 pm Subject: |
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I'm not sure about 3B Financial, perhaps someone else can shed some light on it.
Zip19's aka ZIpcash mailing address: Unlicensed/illegal
Northway Broker Limited,
Level 8 Suite 3, Plaza Commercial Center, Bisazza Street,
Sliema, SLM15, Malta
Phone: 1-877-947-1947 (Toll Free)
Fax: 1-866-202-6498
Email Address: customercare (@) zip19.com
Total Lending Center Inc
1909 Surrey Ct
Columbia, MO 65203
573-446-9200
Total Lending Center, Inc. (I don't think they are licensed in MS.)
10975 Benson Dr Ste 350
Overland Park, KS 66210
913-491-5300
866-412-2369 phone
866-379-7667 fax
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4630
Debtcc Points: 28954
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| Posted: Mon Aug 25, 2008 4:34 pm Subject: |
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I hope the information below will help you. 
| Quote: | You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
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
Moderator
Joined: 05 Dec 2007
Posts: 4630
Debtcc Points: 28954
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| Posted: Tue Aug 26, 2008 5:32 am Subject: |
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Thank you all so much for all of your help. I will do what you said and make sure I don't make this mistake again. thanks again!!!!
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scolburn
Joined: 25 Aug 2008
Posts: 6
Debtcc Points: 52
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| Posted: Tue Aug 26, 2008 7:09 am Subject: |
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How do I find out if they are licensed in this state and what if I don't know the exact amount I have paid back???
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scolburn
Joined: 25 Aug 2008
Posts: 6
Debtcc Points: 52
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| Posted: Tue Aug 26, 2008 9:54 am Subject: pdl |
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I have a payday loan with total lending and arrowhead investments, these are both internet pay day loans and I put stop pmt on them after already paying in total for the both close to 2500$. they just keep refinancing and I live in MN and see by our law, these loans are not able to be rolled over and they have rolled my loan over a million times. My question is, I got a call from PDM (Pheonix debt management) that stated they were garnishing my wages if I didn't make arrangements with posted date pmts to pay them right away. How will I know if my loan had a wage assignment or what it entailed of?
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tinisha
Guest
Debtcc Points: 100
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| Posted: Sun Oct 12, 2008 1:41 pm Subject: Same fax as Arrowhead and VC Funding |
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Did you notice that Total Lending lists the same fax number as Arrowhead Investments and VC Funding?
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rebsoto
Joined: 05 Oct 2008
Posts: 14
Debtcc Points: 149
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