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 Posted: Wed Jul 09, 2008 3:00 pm Subject: Ome click cash in Philadelphia |
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HI
How can I find out if they are legal in Philadelphia?
Thanks
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cynthiaw4
Joined: 23 Jul 2007
Posts: 90
Debtcc Points: 1712
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| Posted: Wed Jul 09, 2008 9:36 pm Subject: |
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Legal status of payday loans in Pennsylvania is given below: -
| Quote: | Pennsylvania State Information
Legal Status: Prohibited
Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, § 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. § 6201 et seq.
Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year
Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773 |
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phoenix
Joined: 14 May 2008
Posts: 867
Debtcc Points: 5618
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| Posted: Thu Jul 10, 2008 5:19 am Subject: |
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However, there is a loophole in the PA law and I can't interpret it for you. This is not an area of my expertise so I wold defer to someone who can help you on this one. I know that there has been many people coming on the board lately dealing with PA so I know that someone will be along shortly who can explain further.
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llw1995
Joined: 02 Feb 2008
Posts: 1428
Debtcc Points: 13709
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| Posted: Thu Jul 10, 2008 5:40 am Subject: |
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I can tell you though, that I believe One Click Cash is affiliated with MNE (UsFastCash, ameriloan, 500FastCash, etc.) if that helps with identifying their legal status in PA. Again, someone will be along shortly to help you out.
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llw1995
Joined: 02 Feb 2008
Posts: 1428
Debtcc Points: 13709
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| Posted: Thu Jul 10, 2008 6:19 am Subject: reply |
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llw,the loophole is this.if a pdl internet or storefront has a license in any state those laws apply.it stinks,but them and
tennesee are two that are like that.by the way,thanks for the
heads up on MNE.those are illegal everywhere.
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paulmergel
Moderator
Joined: 24 Jun 2007
Posts: 3492
Debtcc Points: 13326
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| Posted: Thu Jul 10, 2008 7:24 am Subject: |
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They guy was so mean and want's another $1200.00. I just want this to be done but I'm not paying another $1200.00 where I only owe $350.00.
THAnks
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cynthiaw4
Joined: 23 Jul 2007
Posts: 90
Debtcc Points: 1712
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| Posted: Thu Jul 10, 2008 8:41 am Subject: |
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Tell him to stuff it. Are they still debiting you account? Have you sent them a C and D letter? If you have, and if the processor route applies, I would defintely go that way. I believe that they would be using Intercept EFT to process and Bremer Bank as their originator of the loan. Keep us posted.
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llw1995
Joined: 02 Feb 2008
Posts: 1428
Debtcc Points: 13709
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| Posted: Thu Jul 10, 2008 12:16 pm Subject: |
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NO I closed my account months ago. I told them I would do 2 payments of $200.00 and he said can't do that. I did send a c and d letter.
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cynthiaw4
Joined: 23 Jul 2007
Posts: 90
Debtcc Points: 1712
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| Posted: Thu Jul 10, 2008 3:03 pm Subject: |
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I guess if they want their money bad enough, they will take it your way. Why on God's green earth would anyone refuse money that is owed to them, regardless of how they get it? I just don't understand some of their logic.
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llw1995
Joined: 02 Feb 2008
Posts: 1428
Debtcc Points: 13709
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| Posted: Thu Jul 10, 2008 3:11 pm Subject: |
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Another thing, if you are agreed on what you still owe, then I would send them what I can towards the debt and let the ball be back in their court. I am willing to bet that they will not refuse it. Just make sure you keep accurate records of what you sent, when you sent it and that you have a record of someone signing for it. I can't see an illegal organization, going to a legal court and asking for payment on an illegal debt. Just won't add up. Good luck and keep us posted.
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llw1995
Joined: 02 Feb 2008
Posts: 1428
Debtcc Points: 13709
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