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MagicMike0914 · Posted: Wed Jul 30, 2008 10:22 am Subject: PAYDAY LOAN HELL!!! I NEED HELP!

I am reposting per the request of whomever can help me. I am providing the additional info you asked for.

I do not have exact amounts for all of them available at this moment, but can basically break down the scenario for you.

Most of these loans are for 300.00 initially, with a few of them at 500.00, and then two fo them are much higher. one is for a principle amount of 1100.00 (zip19.com) and the other is for a principle amount of 1500.00 but i recently learned via this site and verified with the state of florida, that florida only allows a max amount borrowed of principle of 500.00, does this leave me an out with these two?

ALL of these listed below are via the internet, none of them are store fronts.

As for the rest, i also learned that in florida the max amount they can charge you is 10% + 5.00, is that correct? meaning on a 300.00 loan, then should only be allowed to collect by law 300.00 x 10% (30.00) + 5.00 = $335.00. Is this accurate? if so, then i have alreayd paid the majority of these off!

i also noticed a few of the companies that i listed below were tagged as bogus or illiegal companies on this site. PLEASE HELP!

I need help. Like many people on this thread, i am in serious debt with these payday loans. i currently have more than i even want to divulge on here, but was wondering two things.

1. can someone on here let me know if any of the following companies are real, or licensed in my state? (Florida)

one click cash

TJF Corp

Sandpoint

Cashnet USA

Zip19.com

united cash loans

MTE financial

B.I.G.

Cash Advance Network

Discount Advance

my cash now

Payday Max

2. i have closed my bank account and do not knwo what to expect next. i have several payments due in a few days and once they find out i know they will try to contact me. if i know which ones are legit, it will help me make payments to them and ditch the rest.

please help ASAP!

THANKS!

Posted: Wed Jul 30, 2008 10:31 am Subject:

Welcome! Someone will be along shortly to post and interpret your state laws for you. You have already closed your bank account so you have gained control of your money, that is a good thing. However, we always advise repaying what was deposited into your account, legal or no. You have listed you PDLs, which is good, but could you list them individually as to how much you borrowed and how much you have repaid? As well as whether they are internet or store front. You will need to draft a C and D letter which you will send to all of the applicable PDLs. Hang tight.

MagicMike0914 · Posted: Wed Jul 30, 2008 10:42 am Subject:

llw1995, thank you for your immediate response. couple of things real quick. i do plan to pay back the amounts deposited by these companies, not trying to screw them at all.

i will have to research back and get the dates, payments, etc., however, most of these companies i borrowed from months ago, 300.00 with a 90.00 finance charge, so i am certain that many of these guys got all of their money back.

the are all internet loans, no storefronts.

my main question right now, are the two loans that i have the greatly exceed the amount and terms allowed by my state, florida. is there anythign i can do to challenge them as well, the interest rates are quite hefty.

Posted: Wed Jul 30, 2008 10:46 am Subject:

MTE financial - Illegal/Unlicensed

B.I.G. - Illegal/Unlicensed
Those are the only two I know of off the top of my head, I will do some checking on the other ones.

Posted: Wed Jul 30, 2008 10:51 am Subject:

Posted: Wed Jul 30, 2008 10:52 am Subject:

Payday max, mycashnow, discountadvances

These are all credit protection depot and more than likely not licensed in your state (they're not licensed in Indiana anyway).

hang in there-you've come to the right place for help.

hea12ther1 · Posted: Wed Jul 30, 2008 10:56 am Subject:

zip19 is not legal. They are not even located in the US.

Posted: Wed Jul 30, 2008 11:08 am Subject:

MTE financial - Illegal/Unlicensed

B.I.G. - Illegal/Unlicensed

I believe zip19 is the same as northway-financial and based out of Malta, making them illegal/unlicensed.

One Click Cash, are unlicensed/illegal to lend in any state in the US.

FreakyFriday wrote:

MagicMike0914 · Posted: Wed Jul 30, 2008 11:35 am Subject:

Thank you for all of the help thus far, you are all wonderful people!!! couple of quick questions though.

does the fact that they are operating illegally in my state mean that i do not have to have any more interaction with them as far as paying them anything additional? most of these i have already paid more than what i borrowed, some much more than i even want to say.

also, the link above for cashnet does not work, is there another url that you can send? are they legal and can they legally lend me more than my state allows?

also, how do i do a search on my state's website to see if a company is registered or not. i mean i found the page, but am unsure what kind of business a ipdl is, and you have to search by category, can anyone help with that as well?

thanks again to all for your help and support!

Posted: Wed Jul 30, 2008 12:02 pm Subject:

Your welcome, I hope you are able to get things moving. Here is a working link for CashNetUSA http://www.debtconsolidationcare.com/paydayloan/complain-sgoffice.html .
Have you sent these companies a wage assignment revocation? If not, then that is something you need to do asap! If you need help with that, just ask. All you are morally obligated to pay back to these illegal companies is the principal amount you borrowed!

Posted: Wed Jul 30, 2008 12:07 pm Subject:

For the search, I just did a separate search for each category on my state's site (IL DFI has a dropdown box). It might take a bit longer, but you don't want a company trying to weasel out by being licensed differently than what you thought they were doing business as.

MagicMike0914 · Posted: Wed Jul 30, 2008 12:20 pm Subject:

I have another question:

if the ipdl lender violates the law in florida (let's say for example they do a rollover, but call if 'finance charge', does that stand enough in the state of florida forthem to not be able to legally collect any more money?

i have read all of these things related to the laws, but no one has been able to tell me that 1) if they are illegally operating or 2) if they breach the law in florida, if that obsolves you of any additional money owed to them. i want to pay them back what i borrowed, but as mentioned earlier, most of these i have paid back 10 fold.

please help!

Posted: Wed Jul 30, 2008 12:31 pm Subject:

Under general laws, if the entity is acting in an illegal fashion, this nullifies any contracts. Additionally (and they will throw this one at you), if any contract clauses contradict laws, those are nullified as well.

So, if they are operating illegally under the rules in FL, you owe them what they gave you (the principle), and they can cram the remainder up their keesters. And use the contracts to hold it in place if they want!

MagicMike0914 · Posted: Wed Jul 30, 2008 12:45 pm Subject:

you see drburr, that's why i absolutely LOVE THIS SITE! You all are not only the best, but seem to have the spirited humor needed to make it through these tough times.

i deal with contracts myself in my business, so i am aware that a breach, on either parties part, whether intentional or unintentional with regard to the law of that state can be considered null and void, i just wanted to see if i would get a confirmation of that from this thread.

thank you sooooo much!

i will also be posting very accurate and hard numbers and info tomorrow, for all to see. i want to ensure that i handle each one of these the correct way. thanks for your help and there are only three more companies that i am still unsure if they are illegal or not, can someone help with these three?

Cash Advance Network

B&L Marketing

Impact Cash

thank you again soooo much, you are definitely making it easier for me to sleep tonite!

MagicMike0914 · Posted: Wed Jul 30, 2008 1:24 pm Subject: Please help me with these ipdls!

can anyone answer my last question? please help me if you can... i am all alone on this and need all the help i can get..

MagicMike0914 · Posted: Wed Jul 30, 2008 1:26 pm Subject:

can anyone help me with these couple of questions? i really need help and am all alone... please help if you can. i need to verify these companies above so i can take the next step.

thanks!

*Name:
*Email:
*Phone:
*Zip:
*Debt

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