payday loans what are the newest laws in maine

okay i have been looking all over the internet for an answer about Maine's Law on Payday loans. I found some that its is illegal unless they are licensed there and other that say pretty much i'm screwed. So what i'm wondering is what is the Newest law in maine? I have 2 payday loans out

and i don't think any of them, from what i have found out is legal in Maine

One Click Cash. Borrowed $300 have paid back $270
Ameriloan Borrowed $250 paid back $225

One click cash said i till owe $510
Ameriloan said i owe $430

????? Can anyone help?

Payday lending is prohibited in the State of Maine. Thus, your payday lenders are not licensed to operate in your state. Thus, you should pay them the principal balance and get rid of the debts.

Ameriloan is not legal in US. Anyway, since lending of payday loan is illegal in Maine, so pay back the original amount to them. If you have paid more than the principal amount, ask them to return it to you. Though, I don't think they will return the money. Try to avoid taking out pdls in future.

i echo most of what the pother two have said.now that being said since these are both MTE and illegal everywhere here is what you really owe.

ameriloan 25.00
one click 30.00

that is it.since the numbers are so inflated i take it you defaulted and they can't access your money.if that is the case then send them an email stating the amounts and you want an address to send it.if they don't want to co-operate then that's too bad for them.that is what you owe on each and they are lucky to get that.

Thanks for the Advice. Believe me i will not take out another payday loan. So now what should I do, show them Maine's law and tell them I only need to pay back:

Oneclickcash $30
Amierloan $20

should i email, fax or mail this info to them. Oneclickcash is expecting a $90 payment on Friday from my credit card. MY bank account is closed and there not enough on my Credit card to pay the amount so it will be declined. Not looking forward to them bugging me at work..

Ameriloan $25.00

yes email them not only the true amount you owe,but your state laws as well.btw to try to curtail the calls at work which both will do.inform your boss that a scam will be calling as that is what this is as they will act like one.just do not even try to pay until they agree to let you pay those amounts only.

This is what i plan on sending One Click Cash. Any with any Advice? Does this sound okay, or if anything what should I change. I just want to make sure its okay before i send it. I found a couple of sample letters and stuff on the internet so just wanted to get it checked out before i send it. Thanks

Whom It May Concern:

After doing research on internet payday loan laws in the state of Maine, I have found that your internet payday loans are actually illegal. In the State of Maine you have be licensed to give a person in Maine a payday loan. I found your name on the unlicensed payday loan companies in Maine that have been directed to cease and desist offering loans to Maine consumers. Any loan made outside of the state Must abide with the rules of the State Of Maine. I have also found the following laws to be true applying to payday loans in the state of Maine in general:

Legal Status: Prohibited - Permitted for supervised lenders

Basic Legal Restrictions

- As per Maine payday loan laws, the NSF fees on bounced checks must not exceed the actual bank fees.
- Lenders are strictly prohibited from charging attorney fees or collection costs on delinquent borrowers.
- The minimum repayment period must not be less than two weeks.
- Two loan rollovers are allowed if the borrower fails to make the repayment on the set due date, but if the borrower doesn’t pay off the outstanding dues even after the second rollover, it will be mandatory for the lenders to offer a repayment plan asking the borrower to repay in small monthly installments over a period of two years.
- The consumers cannot hold more than one outstanding payday loan in their name at one time.

I have contacted the Maine Office of Department of Professional and Financial Regulation and the Maine State Attorney General's Office regarding your internet payday loans and was informed they are indeed illegal in Maine and was advised to pay what is due according to principle amount only of the loan.

To date, I have paid $270.00DOLLARS on my $300.00 DOLLAR loan.. Since you are not permitted or you do not have a license in Maine I only owe you the principal amount Therefore I only owe $30.00 on this loan. I will send the payment by sending a Money Orders. This will be the ONLY payment of method I will use.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my state Attorney General's Office.

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of Maine.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I am revoking your right to debit my checking account/ or charging my credit card any longer. You, your company, or your affiliates are not authorized to debit my checking account/charge my credit card at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my accounts will be rejected by my financial institution.

I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, and my state Attorney General's Office.

I expect a response from your company no later than 7/10/11, regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Thank you,
Please confirm your Address BY US POSTAL MAIL OR EMAIL. So I may send payments by Mail

One Click Cash
52946 Highway 12 Suite 3
Niobrarg, NE 68760


Loan $300.00
Paid 4/15 90.00
Paid 4/29 90.00
Paid 5/27 90.00
Total I owe you is 30.00
FOR A TOTAL OF $30.00 LEFT TO PAY ON THIS LOAN.

http://www.maine.gov/tools/whatsnew/...6715&v=Default list of unlicensed payday lenders

looks okay,but just know they will fight you and try to bring up the fact they are "tribal lenders"it means nothing and they are illegal,but yes send them that letter.