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Posted: Sun Jun 15, 2008 4:19 pm Subject: PDL legality question

Hi, in California it says they are legal, but the terms that I have appear to be illegal. I have written letters to that effect. Will that be OK? I closed my bank account and am sending out my C&D letters tomorrow, but just wanted to double check.
Thanks so much!

Posted: Sun Jun 15, 2008 6:16 pm Subject:

lovee what companies are they? I am moving this to the Payday loan section so it will receive more attention. Smile

Guest · Posted: Sun Jun 15, 2008 7:48 pm Subject:

thanks so much for moving it!
they are:
impact cash
500fast cash
ameriloan
paycheck today
eastside lenders
power funding
big ltd

Posted: Sun Jun 15, 2008 8:28 pm Subject:

I'm going to go ahead and post your state laws, but it would be great if you could post the amount borrowed and amount paid back, also are these all Internet loans?

Posted: Sun Jun 15, 2008 8:41 pm Subject:

lovee3 I don't think any of those are legal or licensed but I'll let someone else confirm this. Also, I see no reason why you shouldn't send them a C & D letter, and you should also add into that letter you are revoking all rights to any wage assignments, also give a copy of that to your payroll person. Smile

Could you specify the terms of these loans that you feel are illegal, I am just curious about that.

Posted: Mon Jun 16, 2008 6:06 am Subject: reply

i know 500fastcash,ameriloan,and BIG ltd are
illegal.500fastcash and ameriloan are MTE,BIG ltd is located overseas.those three i know are unlicensed therefore are illegal.don't know about the others.

Guest · Posted: Mon Jun 16, 2008 5:37 pm Subject:

Thanks!
So even though at the top of the California laws it says "legal", they really aren't? That is what I am most confused about.
I will get all of the amounts and what I have paid so far in a few minutes.

Posted: Mon Jun 16, 2008 7:36 pm Subject:

Guest Wrote:

Guest · Posted: Tue Jun 17, 2008 8:29 am Subject:

Thanks so much...I will start working on that now and will e-mail with any additional questions. You have all been so helpful. I will also get the amounts I promised last night and wrtie them down for you.

Posted: Tue Jun 17, 2008 10:12 am Subject:

Not only is Ameriloan illegal in California, but I believe they have been banned from doing business there, like Sonic Payday. California has gotten stricter with PDL's, but I would like to see them banned completely, as they are in other states.

Posted: Tue Jun 17, 2008 10:59 am Subject:

these are the places that i owe and what i have paid...
usfast cash $350 paid $790
big ltd $250 paid $1900
eastside lenders $600 paid $1365
paycheck today $400 paid $720
netcash $500 paid $900
little loan shoppe $300 paid $360
impact cash $300 paid $180
I have another one with GFS that I am trying to find out when I originally took it out.