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 Posted: Mon Aug 13, 2007 12:00 pm Subject: PDL - Florida
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The ones that I have are Payday OK, Payday Select, Quickest Cash Advance, CashNetUSA. I found a list showing which were legal for the state of Florida and I did not find any of these on there. So the best I can tell they are operating illegally. I just not sure what I should do.
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sandyhidalgo
Joined: 01 May 2007
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Posted: Mon Aug 13, 2007 12:03 pm Subject:
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Cash Net USA is operating 100% legally in Florida. They are operating as a CSO ( credit services organization), so the pdl laws don't apply to them.
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goudah2424
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Posted: Mon Aug 13, 2007 12:04 pm Subject:
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Just to make sure that you looked at the right place, where did you search for their licensing info? If you have the link to the govt website, post it here. Govt links are allowed in the forums.
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Bridget
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Posted: Mon Aug 13, 2007 12:08 pm Subject:
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For Florida they have a list you can download on the FL DFI website. She is right that none of the names show up.
But part of that is because they may be acting as CSO's, which don't require licensing, only registration.
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goudah2424
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Posted: Mon Aug 13, 2007 12:08 pm Subject:
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Payday OK and Payday Select are the same company, and they are not licensed in FL. I haven't looked at Quickest Cash Advance, but I doubt it would be licensed.
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goudah2424
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Posted: Mon Aug 13, 2007 12:12 pm Subject: Cash America Net of Illinois, LLC
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I'M SORRY BUT THEY ARE IN ILLINOIS
Cash America Net of Illinois, LLC
200 West Jackson
24th Floor
Chicago, Illinois 60606
United States
8888019075 if they registered themselves as a credit services organization, then they must help you pay down your sdebit. offer them $5.00 per month and cancel the interst. I'M SURE THEY ARE SKIRTING THE LAWS OF ILLINOIS
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Nini DC
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Posted: Mon Aug 13, 2007 12:15 pm Subject:
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No crap! I'm not talking about where they are located.
This person asking the question is located in Florida. Cash Net USA operates as a CSO in Florida. A CSO does not have to help you pay down debt. The only have to help you obtain a loan. To follow your advice would get the user sued.
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goudah2424
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Posted: Tue Aug 14, 2007 4:32 am Subject:
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CashNet and Quickest Cash Advance are the 2 that are hounding me. CashNet keeps sending me emails and Quickest Cash Advance keeps calling. The other 2, Payday OK and Payday Select, I haven't heard from them in awhile.
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sandyhidalgo
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Posted: Tue Aug 14, 2007 6:49 am Subject:
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I would file complaints against Quickest Cash.
Since Cash Net USA is operating legally, I would try to set up some sort of monthly payment plan with them that you can afford.
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goudah2424
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Posted: Tue Aug 14, 2007 8:34 am Subject:
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A CSO can not be the one who provided him with the loan. cashnet seems to be the one who made the loan.
Get on the internet b/c i don't think they can function as both. You can not be forced to use a CSO for a loan that I can get onto cashnetusa's website and get by myself. that is why they can not fundtion as both the regulated lender and the CSO.
*A "CSO" is a business that provides any of the following services:
(1) improving a buyer's credit record, history or rating, (2) obtaining an extension of credit for a buyer or (3) providing advice or assistance to a buyer with regard to either (1) or (2) above.
It does not say provide the buyer with a loan.
Florida Department of Financial Services. 200 East Gaines Street, Tallahassee, FL 32399 (850) 413-3140.
ask them if a cso can provide loans to consumers
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Nini DC
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Posted: Tue Aug 14, 2007 8:39 am Subject:
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They are a CSO. Look it up. I actually check my info before i post. Novel idea, huh?
Their website specifically states:
| Quote: | | CashNetUSA will not be the lender for loans received at this site. CashNetUSA is a Credit Services Organization. We will attempt to arrange a loan between you and a third party lender and service that loan once it is issued. Any questions, service issues or complaints about your loan will be addressed by CashNetUSA and not the lender. |
They are helping you obtain a loan. Which goes under #2, obtaining an extension of credit.
The CSO is NOT LOANING THE MONEY.
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goudah2424
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Posted: Tue Aug 14, 2007 8:42 am Subject:
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In the states where Cash Net USA is a registered CSO, they DO NOT LEND MONEY. You cannot go onto their website and get a loan "from them" if you live in one of those states.
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goudah2424
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Posted: Tue Aug 14, 2007 9:10 am Subject:
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That's fishy. To me, they would HAVE to reveal who that 3rd party is. Cashnet is the one calling and the person depositing the funds in his account, correct?
Cashnet is the lender. Sandy who appears on your bank statement? Who put the funds into your account? Was it Cashnet or this mysterious 3rd party? A loan servicing company doesnot deposit funds into the customers account. A CSO would only be tending to that loan if Sandy defaulted with the actual lender. The lender would present their claim to cashnet and cashnet would chase sandy. Where does it say a CSO services a loan? Goudah, these companies will put anything on there site to discourage you. That does
not make it true. 5 of my PDl's claims to be out of the country on their sites. Only one really was. The rest I found right here in the good old USA. They need to make you think that they are in Utah or NM or overseas and now they need you to think they are actually CSO. Don't just believe it. The AG isn't playing that game with them either. Make them PROVE that someone else provided that loan. You have the right to know who gave you the loan.
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Nini DC
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Posted: Tue Aug 14, 2007 9:24 am Subject:
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Um, they are a registered CSO in Florida. They are following all the rules.
Sorry, I check my facts. Maybe you should try it.
They are operating 100% within the laws. You can try to find a hole, but Cash Net USA is the one internet based company that actually does follow all the laws for each state.
Cash Net USA is NOT THE LENDER. You cannot claim they are when it says in black and white over and over and over in your contract that they aren't the freaking lender!
The CSO model of payday lending is not something new. They know what they are doing. They are allowed to "service" the loan. They are brokers. It is very common that loan brokers service loans, deposit the money, and deal with any issues that arise.
nina - I don't know why you bother posting this crap, no one believes you. You are not helping anyone.
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goudah2424
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Posted: Tue Aug 14, 2007 9:38 am Subject:
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And i'm not just going by the pdl's website. I'm not stupid. I'm not new to this like you are.
Here is what must be in the contract for a CSO:
| Quote: | 817.704 Provisions of contract.--
(1) Each contract between the buyer and a credit service organization for the purchase of the services of the credit service organization shall be in writing, dated, signed by the buyer, and shall include all of the following:
(a) A conspicuous statement in boldfaced type, in immediate proximity to the space reserved for the signature of the buyer, as follows: "You, the buyer, may cancel this contract at any time prior to midnight of the fifth day after the date of the transaction. See the attached notice of cancellation form for an explanation of this right";
(b) The terms and conditions of payment, including the total of all payments to be made by the buyer, specifying the amount of the payments to be made to the credit service organization or to some other person;
(c) A full and detailed description of the services to be performed by the credit service organization for the buyer, including all guarantees and all promises of full or partial refunds, and the estimated date by which the services are to be performed or the estimated length of time for performing the services; and
(d) The credit service organization's principal business address and the name and address of its agent in the state authorized to receive service of process.
(2) The contract shall be accompanied by a completed form in duplicate, captioned "Notice of Cancellation," that shall be attached to the contract, be easily detachable, and contain in boldfaced type the following statement written in the same language used in the contract: |
No where does it say that the name of the actual lender must be there. In fact, if you bothered to read anything about CSO's nina, you would see that what they are doing is normal. They are completly within the laws to deposit the money into the consumers account. It is not "their" money. They are not the lender.
You can believe what you want, but this company is 100% legal, and if you are going to f with them, you can look forward to your credit being messed up and possibly being sued.
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goudah2424
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Posted: Tue Aug 14, 2007 9:40 am Subject:
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Goudah, that's not ture. A CSO can not make a loan to a consumer and charge the CSO fee Cashnet charges to find that loan. Ha! If that were the case, the regulating agency would have no way to determine whether or not Cashnet is the actual lender. A CSO is charging Sandy a fee for connecting her to a lender. It would be violation for Cashnet to be that lender. I can't charge you a CSO fee to connect you to myself. Goudah, just say it if you don't know. Sandy needs help not our egos. Sandy should call the regulating agency and ask them. Florida Department of Financial Services. 200 East Gaines Street, Tallahassee, FL 32399 (850) 413-3140
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Nini DC
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