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Posted: Tue Aug 14, 2007 3:18 pm Subject: Unlicensed Store Front PDL

I have a question to throw out for some input from others. Let's say "Joe" has 3 store front pdl's out in his state where store front pdl's are legal. Joe can't pay his checks off and re-write, so he gets concerned wondering what he can do. Joe contacts the store fronts and two of them will not work with him. I found this surprising myself. So Joe looks into seeing if these 3 store front pdl's are licensed to do business in his state. First, Joe called one of them to be sure of the name & that they were not operating under a different name. No. They are not. So Joe then looks up the 3 pdl's. One store front is licensed/legal. One store front is not licensed in his state; however, is licensed in another state. The last store front came up as LICENSE SURRENDERED. So, what does this mean? One store front is licensed/legal. That's fine. What about the one that is not licensed in Joe's state but licensed in another state? And how about the store front that says LICENSE SURRENDERED? Any input or information? Thanks! Very Happy

Posted: Tue Aug 14, 2007 3:21 pm Subject:

I would think that being a storefront, it would need to be licensed in that state.

As far as the storefront with the surrendered license - That means for whatever reason they had to give up their license before it would expire. Probably because they were breaking some laws.

I would have this person contact the DFI. They can confirm any licensing issues, and start the complaints!

Posted: Tue Aug 14, 2007 3:26 pm Subject: goudah

Thanks, goudah. I didn't want to give "Joe" any information without getting some input. Because my thought is that the store front that "surrendered" their license had to do that for a reason (breaking laws???). Complaints should definately be filed on that one! The one that is not licensed in "Joe's" state, I would have to believe that they would need to be licensed to operate their pdl business. How can they be operating legally without a license? They are licensed in another state, but to me, that shouldn't even be an issue. Like if one store front is licensed in say Tennessee, that doesn't mean they can open a store in say, Indiana, and operate without a license. Right?

Posted: Tue Aug 14, 2007 3:27 pm Subject:

All these storefront lenders have to be listed with the Secretary of State in your area. You can get more information verified by them. In my opinion in case 1, you have to be careful of the company because they are a licensed business and can take you to the court and file legal actions.

In case 2, you have to check the laws of your state from your state AG and verify if the lending company needs to be licensed in your state apart from them being licensed in their state. For example, in the state of PA, any company needs to be licensed in their state first.

And in Case 3, I think the storefront is undergoing some legal actions by the law enforcement agencies and they are restricted to do business in your state.

Posted: Tue Aug 14, 2007 3:33 pm Subject: Ruby

Thank you, ruby. I understand the first store front is licensed/legal. In this case, the state pdl law would apply. The 2nd store front, which is not licensed in Joe's state but in another state - how can I go about checking to see how that works? To see if they have to be licensed in Joe's state? And the 3rd store front that had to surrender their license, what's up with that? What does it mean then if you have a check out with that store and they don't even have a license? The state law for Joe prohibits criminal action, which I take to mean (because it's posted in all the store fronts) that they can't throw you in jail for a bad check. However, can a store front who is not licensed try to take some kind of action (civil court? something?) against Joe? What kind of leg would they have to stand on if they're not licensed to do business? Thanks for any insight!

Posted: Tue Aug 14, 2007 4:11 pm Subject: checked

Okay, I just checked again. The 2nd store front is not licensed to do business in Joe's state. The 3rd store front, every single branch has had their licensed surrendered (one said "closed"). So what does this mean for Joe, who has checks out with these 2 unlicensed store fronts?

Posted: Tue Aug 14, 2007 4:32 pm Subject:

just courious, what is the name of these store fronts, and what state are they in?

thanks

Posted: Tue Aug 14, 2007 5:11 pm Subject: luke

luke, I pm'd you.

Posted: Tue Aug 14, 2007 5:15 pm Subject:

thank you cannr, i got it

Posted: Wed Aug 15, 2007 7:05 am Subject: storefronts

Cannr - are these illegal storefronts right here in KY? If so, what are the company names?

Posted: Wed Aug 15, 2007 7:09 am Subject:

I would think this means that the companies are operating illegally. Joe needs to talk to the DFI. Let them know about this company. It's entirely possible the DFI will say that this makes the loan null and void.

Posted: Wed Aug 15, 2007 7:38 am Subject:

Cannr...is this true and I still can't get your pm's. I left Mike in Marketing a message about that.

Posted: Wed Aug 15, 2007 9:38 am Subject: okay

Okay, apparently I've peaked interest with this question. So, anyone who wants to help me in figuring this out, please feel free.
CheckSmart - operating legally with a license under the name of Buckeye CheckSmart of Kentucky (fine)
Check 'n Go - states "license surrendered" for every single branch in Kentucky and one in another state
National Cash Advance/MacKenzie - can not find a license for either name in Kentucky
The last two are the ones I am concerned with. How would one handle it if one has a check out with these store fronts? Especially Check 'n Go? I checked in three different places and they all say "license surrendered". And also the National Cash Advance/MacKenzie - if anyone finds that they are indeed licensed, please post. CheckSmart is operating legally. So - how about the "license surrendered" one and the one I can't find as licensed in Kentucky? Any and all help/input is greatly appreciated! Very Happy

Posted: Wed Aug 15, 2007 9:46 am Subject:

Cannr....Check 'n Go is now under the name of Southern Specialty Finance dba Check 'n Go according to the DIF in KY

Posted: Wed Aug 15, 2007 9:49 am Subject: sbell

sbell, thank you for posting that information. Which I find quite amusing. Since I personally called Check 'n Go yesterday and asked them flat out if they were operating under another name. The lady (and not a nice lady) told me "No, we are just Check 'n Go. Operating as Check 'n Go. No other name." Okay..... What's up with these pdl's? Do they not want you to know their "business name" or what?

Posted: Wed Aug 15, 2007 4:39 pm Subject: sbell

sbell, I'm glad you got that information from the DFI. However, I'm still confused as to why when I called Check 'n Go, they told me the "use no other name." Okay.... It is Southern Speciality Finance, Inc. d/b/a Check 'n Go. Licensed. Now, here's another question. Would the reason it says "license surrendered" be because they were bought out or something by Southern? You wonder why people get soooo confused. Can't anyone just use ONE name, for crying out loud! And, luke, thank you for the tip regarding Great Lakes Speciality Finance, Inc. d/b/a Check 'n Go. Now, another question (sorry). How about the other store front MacKenzie? How does one find out if these store fronts are going by another name? Just call or email the DFI directly?

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