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 Posted: Sun Nov 16, 2008 8:39 pm Subject: are these pay day lenders (all online) legal in tennessee ? |
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United cash loans, Out Back bucks, Payday one, e pay day loan, pay day loan yes, One click cash, instant pay day cash, ez pay day cash.
i am in pay day hell and i am totally disabled and have been since 1990. please help. i am now closing my bank account and sending a letter to stop the madness. i tried but i can no longer afford the pdl payments and my medicine and house too.
any advice? i know that i screwed up.
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prowealthsolutions
Joined: 16 Nov 2008
Posts: 1
Debtcc Points: 24
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| Posted: Sun Nov 16, 2008 10:00 pm Subject: |
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Tennessee allows an Internet based payday loan company to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in.
| Quote: | Tennessee State Information
Legal Status: Legal
Citation:
Tenn. Code Ann. §45-17-101 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill, |
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
CLICK HERE to find a Creditor
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 5042
Debtcc Points: 31076
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| Posted: Sun Nov 16, 2008 10:05 pm Subject: |
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United Cash Loans are part of MNE and are not licensed anywhere.
UCL (800) 279-8511
3531 P Street, NW
PO Box 111
Miami, OK 74355
Payday Loan Yes Not licensed!
Oranyan House Shirley Street
P.O. Box SS 19935
Nassau, NA
Bahamas
8005506051 Fax -- 8006057419
Payday One is usually licensed to lend in all the states, you will need to make some type of payment arrangements.
e-payday-loan - illegal/not licensed
Mailing address:
e-payday-loan.com
PO Box 571992
Murray, UT 84157
Phone: 1-877-633-1100
Fax: 1-866-840-4593
One Click Cash, are unlicensed/illegal to lend in any state in the US.
One Click Cash
52946 Highway 12
Suite 3
Niobrara, NE 68760
Fax 1-800-803-9136
Ph: 1-800-349-9418
compliancedepartment(at)oneclickcash.com
I'm not sure about outback cash and instant payday cash.
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
CLICK HERE to find a Creditor
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 5042
Debtcc Points: 31076
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| Posted: Sun Nov 16, 2008 10:06 pm Subject: |
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I hope the information below will help you. 
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
| Quote: |
What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE
What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.
File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.
Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.
Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. |
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
CLICK HERE to find a Creditor
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 5042
Debtcc Points: 31076
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| Posted: Sun Nov 16, 2008 10:59 pm Subject: |
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I think you should look for payday loan debt settlement and wipe out these debts.
You can also get Free Counseling from one of the financial experts by filling up the FREE counseling and analysis form.
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phoenix
Joined: 14 May 2008
Posts: 1081
Debtcc Points: 6075
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| Posted: Sun Nov 16, 2008 11:07 pm Subject: Thanks so much for all the info. You are a lifesaver. |
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How do i find out about the 3 pdls that you did not have any info on? they are Out Back bucks, instant pay day cash, ez pay day cash.
if i could find about these 3, it would leave me owing only payday one. how can i look up this info?
My friend, you have been such a great help. words can't express how much i appreciate your help. thanks so much. i feel a weight being lifted.
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ann smith
Guest
Debtcc Points: 100
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| Posted: Mon Nov 17, 2008 2:00 am Subject: |
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Outbacks Bucks, Ez-payday Cash are licensed to lend in Tennessee. So, you have to repay the loan as per the pdl laws of your state (given above by Shazzers).
I'm not sure about Instant payday cash as I haven't heard about it.
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phoenix
Joined: 14 May 2008
Posts: 1081
Debtcc Points: 6075
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