Can anyone tell me whether these are legal in NC?

Loan Shop
Ameriloan
Cash Advance Now
High Country Ventures
Sonic Payday

I owe all these and I need to get out from under. Any help is appreciated.

no pdl is legal in NC.we need the following.

how much borrowed from each
how debited total by each.include fees and rollovers.

you only owe the principle borrowed.there is a sticky at the top of this forum.it is the third from the top.it will guide you.

You can go here and read up on the steps to take when dealing with illegal lenders.

You will need to send a letter to each AFTER you close your bank account.

You only owe them the amount you borrowed. All fees or rollover charges you have paid go towards that amount.

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To infinity, and beyond

Loan Shop Online, borrowed $500, ($300 on 9/24/08 and $200 on 1/27/09), pay $90 on the $300 and $60 on the $200 every 2 weeks from checking account.

Ameriloan - borrowed $400 on 11/6/08, had a NSF to pay fees, now paying $120 every 2 weeks for next 3 weeks

Cash Andvance Now - $200 with a $50 fee, by check

High Country Ventures - $300 on 3/24/90 and pay $90 every 2 weeks by ACH

Sonic Payday - $800 on 4/21/09, $216 fee due by ACH

Also forgot payday loans under spouse

Loan Shop Online borrowed $400 on 4/14, rollover $240 once a month by ACH

Cash Advance Now $200 on 2/27, $100 rollover each month by ACH

Ameriloan $400 on 11/26, owes $111 each month by ACH

okay.please check your bank statements to see if these places have debited anything.if they did it goes toward your loan.example:AMERILOAN you borrowed 400.00.they debited that 120.00 twice.that 240.00 goes toward your loan.you only owe them 160.00 that's it.again these places are illegal the contract means nothing.

Okay so once I check my statements, should I send them a letter? I assume I ask them for a pif or something. Should I close my bank account?

I appreciate the help. I've been reading so much my eyes are burning now.

there is a sticky at the top of this forum.the third one from the top.it will explain each step in how to deal with these places.

You can find the example letter here. You just need to change it to your information and state laws.

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Thanks again for all the help.

I know I've read that these are illegal in NC but what does the law say (in simple terms)?

Here are your state laws...

[quote[North Carolina State Information

Legal Status: Prohibited (N.C. Gen. Stat. § 53-281 authorizing payday loans allowed to sunset in 2001)

Citation:
The consumer finance act applies. N.C. Gen. Stat. § 53-173

Small Loan Rate Cap
36% per year

Where to Complain, Get Information:
Regulator: North Carolina Attorney General (See also Commissioner of Banks)
Address: NC Attorney General's Office 9001 Mail Service Center Raleigh NC 27699-9001
Phone: (919) 716-6400[/url]

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Ameriloan took out $450 on 11/7, have paid $927
Ameriloan spouse $400, have paid $334

Loan Shop took out $500, have paid $1410
Husband took out $400, no payment yet

Cash AdvanceNow took out $200, paid $50

High Country Ventures took out $300, paid $90

Oh by the way, is there a way to check online to see if any of these businesses are licensed in NC?

None are. They are prohibited in NC.

No payday loans are legal in NC.

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To infinity, and beyond

What about Cash Advance Now? They had me send a copy of a check made out to them and signed. So this is not an ACH. Is it handled any differently?

That is ILLEGAL. PDL companies are prohibited to lend to NC residents period.

Was the check voided?? Or did you make out a the loan amount payable to the PDL company and signed the check??

Hope you did not just send them a blank check unvoided

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