I have 5 PDLs in Montana and would like help

According to the sticky about state laws made simple, based on the e-mail reply from the Montana state official, it looks to me like a pdl lender needs to be licensed in Montana in order to lend in Montana, and I find none of my PDL lenders listed (at least, they're not listed under the names I have for them). So, to me, it looks like they're all illegal.

Does it seem like I'm right to you folks?

and, I would use this information to correspond with the PDL lenders and make payment arrangements on my terms to just pay the principal (after I get all the bank closing and ACH stopped and all that has "blown over"), right?

I went and read it myself:

If the internet payday lenders are offering loans to Montana residents or engaging in business in this state, they must be licensed by this state. They may need to be licensed as a deferred deposit lender or consumer lender depending on the products they offer. They need to contact the Banking and Financial Institutions Division for licensure. See banking.mt.gov/

God, I love goudah!

Anyway, yes, apparently they have to be licensed in your state to lend to residents in your state. Which means, yes, you are only obligated to pay the principle amount of the loan. No fees. No rollovers. No extras of any sort. And, yes, when we start sending out letters to your pdl's, we will quote your state law and also that information.

That information goudah posted is awesome!

So, you folks are going to sort of assist/support me on an ongoing basis as I get through this mess? That is so terrific!!

Thanks!

kri, we will walk you through the entire process. Believe me. We are here for you all the way through to the end.

Wow. That is so amazing. Thank you!

You're cracking me up now! I'm serious! We're going to walk you through it all. No question is a dumb question. Ask anything. Post anything. Someone gives you a hard time, post. Out of all of us, someone has dealt with them and can advise you of what to do. Believe me, this place is a God send. You are "one of us" now! We're in it together!

I now have an address for one of the PDLs that cannr couldn't find - does this help find them at all?
OMG
941 'O' Street, Suite 800
Lincoln, NE 68508

Oasis1 Marketing Group, Inc.
866-209-3035

Oh - and my direct deposit already stopped going into that checking account, so these PDLs are definitely going to bounce - there's not enough money in there for them to take any fees - I still have to call the bank as a followup to my e-mail to them about the ACH freeze - they did e-mail me back and said it would cost $29 per ACH but that I should contact the payees. I still have to call the bank and explain.

Did you check under both the deferred deposit lenders and the consumer lenders licenses? They could be licensed under either it sounds . . . .

Thanks, I did check under both listing and didn't find these names under either (I know they could have other d/b/a names, but obviously I don't know what those names might be!).

Looking at the names of the companies you are dealing with, I'd be shocked if you had found a license. I think it's safe to say that none of them are licensed.

kris, is there a reason you are dealing with your bank via email? Can you not go there? This way you can speak directly with the branch manager and get anything you need in writing.

Kris's bank isn't local, so they can't go there in person. The good thing about emailing them is at least you have something in writing.

I'm in Montana and my bank is in Texas. It's a really good bank and I got a membership right before they started majorly closing down membership, so once I close it I won't qualify for a membership there, but that's just too bad for me. But, yes, that's why I can't go there in person. I do like the aspect of having things in writing. I had sent them a message on their website yesterday (after their bank had already closed for the day) before I found this forum.

I really don't think any of these PDL lenders are licensed, but I wanted to double and triple check to be really sure.

So, now I've contacted the bank and my employer with copies of the revocation letters.

Okay, kris. What did the bank tell you? Are they going to prevent the pdl's from hitting and not charge you any fees?