USAPaydayloan.com

Hello,

I was wondering if anyone out there could offer a little help? I had a loan with USAPaydayloan.com and am trying to figure out the amount that I owe and if they are legal. The original amount of the loan was $300, with a $90 fee for a total of $390. I have paid one "fee" of $90, one payment of $50 and one payment of $70. They say the current balance is $270.00.

When I log in on their website, it gives some info. that there is a problem with some transactions and then gives an address that includes Charlestown, USA, West Indies.

I am located in Tennessee, so if they are indeed located in West Indies, doesn't that make them illegal to loan here?

If so, I think I would owe them $180 instead of $270. Not a huge difference, bue just checking to be sure.

Thanks!

If they are in the West Indies then they are indeed illegal.

You only owe what you borrowed. Any fees or amount apply to that amount. You only owe $90.

Secure your account first and then send them a letter stating they are illegal.

You can find a sample letter here. Scroll to the 13th post to find it.

You need to change it to your information and state laws.

I have checked the license database of TN Dept of Fin Institution "http://www.tennessee.gov/tdfi/compliance/Lic_DP.html" and did not find USAPaydayloan.com in the database. So I think that they are illegal in TN. You can visit the link http://www.debtconsolidationcare.com...-dealings.html to check how to deal with illegal PDL companies.

Actually if they are in a country that signed the General Agreement on Trade in Services they only have to follow federal law. It was one of the free trade treaties the U.S. entered into back in the Clinton Administration. At the time, we insisted on allowing cross-border consumer lending to give Citibank and Bank of America access to markets in other countries. There was no internet, let alone online payday loans, at the time. But the treaty is still very much in force and it works both ways.