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Posted: Mon Sep 29, 2008 11:20 am Subject: HELP IN PENNSYLVANIA

I don't know how this happened. I am so embarassed.
Principal Payment
Payday One $1000 $250
MyCashNow $530 $175
Loan Point $400 $120
One Step Cash $400 $1350
Think Cash $500.00 $84.46
National Payday $360.94 $90.24
Cash Net USA $450 $77.25
Sign My Loan $400 $120
East Side Lender $500 $150
United Cash Loan $400 $120
500Fast Cah $300 $90

I am NEVER going to get out of this...HELP HELP HELP...PLEASE!!!

Posted: Mon Sep 29, 2008 12:11 pm Subject:

Pa is a loophole state, even though it states that pdl's are not legal, as long as any of your lenders are licensed in any state you must abide by the state they're licensed in. The first step is to find out which of these are licensed to lend and where, and which are not licensed at all. You can research these lenders by typing the name of them in the search box in the upper right hand corner of this forum, meanwhile I will see what I can do to obtain information about them. Hang tight! Smile

Posted: Mon Sep 29, 2008 12:20 pm Subject:

Click HEREto read more about Mycashnow[/url] It appears they are not legal.

Posted: Mon Sep 29, 2008 1:04 pm Subject:

One Step Cash-not licensed

One Step Cash
9218 Metcalf Avenue
Suite #112
Overland Park, Kansas 66212
(866) 431-2274

Think Cash- is legal and backed by the bank of Delaware.

Posted: Mon Sep 29, 2008 1:14 pm Subject:

Cash Net USA is licensed and lending to PA consumers under it's Nevada license, so they are legal.

Sign My Loan - I am not sure about them, I can't seem to locate any info about them, perhaps someone else will know.

Posted: Mon Sep 29, 2008 1:18 pm Subject:

Eastside Lenders has a license in Utah. Under this address:

Eastside Lenders
50 W 3900 S
Ste 2-B
Salt Lake City, Utah 84107

500 Fast Cash and United Cash Loans are part of MNE and are illegal.

Posted: Mon Sep 29, 2008 1:22 pm Subject:

The principal amount is all you are morally obligated to pay on the illegal/unlicensed lenders!
I hope the information below will help you. Smile

Are they legal?

Posted: Tue Sep 30, 2008 5:47 am Subject:

Some are legal, some aren't, I posted which are and which are not. Smile

Posted: Tue Sep 30, 2008 6:00 am Subject:

What about NATIONALPAYDAY.com. Their address is Coasta Rica.
I am so very scared right now. I have calls in to 2 debt settlement companies for help...PDLassistance and Langhore. Are they reputable?
I am ready to cry...what do I do first?
1. Close my bank account?
2. Write letters/emails to the companies?

I am so scared...seriously.

Posted: Tue Sep 30, 2008 6:47 am Subject:

nikpop, you can probably resolve this yourself, I wouldn't pay someone else to deal with these companies if Iwere you. There is a lot of paper work and research involved, but it has been done successfully by other members! If you follow the steps I posted above, you should be just fine! Keep in mind that these illegal and unlicensed lenders can threaten and try to intimidate you, but when it comes right down to it, there isn't a single thing they can do in a court of law because they are illegal! Please don't allow their threats to scare you, that is their intention, to scare more money out of you! Follow the steps for the illegal lenders and you will be fine! As far as the legal lenders, you will need to try to contact them (try email first) and work out some type of payment arrangements, once you have a new bank account, do NOT give that information out again to ANYone. Tell these legal lenders you will send payments via US postal service with money orders, stress to them you no longer have a bank account and this is the only possible way you can make payments!

Posted: Tue Sep 30, 2008 6:52 am Subject:

If NATIONALPAYDAY's address is in Costa Rica then they probably aren't legal either, if you have paid them the principal amount you borrowed, then you do not owe them another dime! Please do not allow these illegal/unlicensed lenders intimidate you, they will try every trick in the book to get as much money from you as they can, they are thieves! It's very important that you get a letter sent out to these illegal lenders revoking wage assignments, then give a copy to your employer, this way they can not attach your wages! Please follow the steps above and you should be fine! Smile

Posted: Tue Sep 30, 2008 7:18 am Subject:

Ok. I am just so scared. I see other people having success, but they are not in Pennsylvania.

So...I need to close my bank account (will do tomorrow)
Start the letter writing. I saw a sample letter in another post. One letter will cover (1)do not call me, my references or my employer (2)consider my account pif.

That is for the illegal ones
1. Mycashnow, Onestep, 500fastcash, Unitedcashloans and National cash.

What about the legal ones?
1. Eastside, Paydayone, Thinkcash and Cashnet?
Do I send a letter saying "Do not contact me via phone. I want to set up a repayment option on the principal only?"

I am not clear on what I can ask for from them!!! What are the chances of them settling?

You have been a lifesaver to me so far. I finally feel like I am not alone and I might actually survive this! Can you please get me more info....

Posted: Tue Sep 30, 2008 7:33 am Subject:

Nikpop, you are MOST definately at the right place. Take a deep breath, these people on here are awesome. They will talk you through it. Taking the first step (closing the bank account) is the hardest and also the first pdl you deal with. It WILL get easier. I bumped my last post which is titled NRS/Arrowhead. Read it, you are NOT alone. I also live in this horrible state that has the silly loophole. For the ones that are legal, send the letter and when they respond, talk to them. You don't know if they will work with you until you do. An example for me is PayDayOne. I owe $1300 and they wouldn't budge with the finance charges on the account (taking them off) but they first came back with a payment every two weeks of $250 which I couldn't afford so we worked together and got it down to $180. My point again, talk to the legal ones. I have other examples that I could share but won't now.

Hang in there, you are in the right place. By the way, keep EVERYTHING you send in one place that is easy to access.

Good luck,

Diane

Posted: Tue Sep 30, 2008 7:33 am Subject:

Is this the letter to send to the ILLEGAL lenders? I found the one you posted and made the adjustments.
What about the LEGAL lenders?

______________________________________________________
Date:

Name Of PDL

NAME
Account #

After doing research regarding Internet payday loan laws in the State of Pennsylvania, I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of Pennsylvania in general:

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
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with Washington Federal Bank to protect my interest in this matter, per instructions from The Pennsylvania Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed to be a legal and binding contract, I am requesting that you send me your license number which enables you to offer loans to Pennsylvania residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the Pennsylvania Attorney General's Office.

I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,

NAME
CC:
Better Business Bureau
Pennsylvania Attorney General
Federal Trade Commission

Posted: Tue Sep 30, 2008 11:51 am Subject:

Nationalpayday.com • Apartado 10455-1000 • San Jose, Costa Rica • 1-866-513-0374

I am guessing this company is illegal?

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