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Posted: Tue May 29, 2007 1:09 pm Subject: Is this payday loan legal?

QUOTE:"GOVERNING LAW.The transactions related to loans will be deemed to have taken place in the offices of Mycashnow.comâ„¢ Inc. and according to the laws of Grenada, regardless of where you may be viewing or accessing this site." Does this qoute mean it doesn't matter if MyCash now is not licensed in Virginia?

Posted: Tue May 29, 2007 1:17 pm Subject:

Welcome to the forum. Where did you find that? My understanding is that the laws of the state that you live in govern the way that pdls are handled. I know that someone who knows more about the law will be around to answer you in mor detail, so stick around.

Posted: Tue May 29, 2007 1:23 pm Subject:

All payday loan companies must be licensed in the borrower's state before lending. Mycashnow is trying to throw a crap on you by misrepresenting the laws. You can get this info verified with your state attorney general and file a complaint.

Posted: Tue May 29, 2007 9:10 pm Subject: loan

I am from WV and I know firsthand the VA Attorney General is looking into these payday loans. Please file a complaint with them. They are not licensed in VA. They must be licensed there to lend you money. Best Wishes KYSIDE38

Posted: Wed May 30, 2007 4:46 am Subject:

They are trying to throw you off the track with this. Don't believe it for a second. And to throw their argument back at them, do the laws of Grenada allow for outrageous interest rates on loans?

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Is this payday loan legal?

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