Payday Yes-legal or not in Tennessee

Can anyone tell me if Payday Yes is legal in Tennessee? I know from the boards that Tennessee law dictates a lender only has to be licensed somewhere to lend in Tennessee, but I seem to find conflicting info. about Payday Yes and whether they are actually licensed.

Also, has anyone had any luck negotiating with them? I had agreed to payments to settle the account, but the amount keeps changing (increasing). Then I received an email that said Good News! Since I am such a valued customer they were not including my debt in an upcoming debt sale, and that I should contact them to make a settlement for a fraction of what is owed. When I called to see about the settlement, I was told that this is a form email and that they really can't settle for anything less. They are ridiculous to deal with!

Any info. on their legality would be greatly appreciated as I try to deal with them.

BTW-the original loan amount was $475. I have paid a fee of $118.75, one of $237.50 and two "payments" totaling $175. If they are illegal, they owe me.

Thanks for the help!

Payday Loan Yes also goes by Cash Net 500 / Global Payday

i think they are unlicensed

They are illegal.

I would not pay them another dime. Have you sent them an ach revocation letter and have you secured your bank account? You may want to read the stickys at the top about closing your bank account and dealing with illegal lenders.