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 Posted: Mon Apr 07, 2008 11:16 am
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I have loans with the following, can you tell me if they are legal to loan to Wisconsin? Any help would be great, I have Issues:
Impact Cash
Cash Advance Network
Pay check today
Husk Hawk Marketing
Electronic Payment Processing
Little Loan Shoppe
Payday Avenue
All are internet Sites
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sburns
Joined: 07 Apr 2008
Posts: 15
Debtcc Points: 416
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Posted: Mon Apr 07, 2008 11:20 am
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| Code: | Wisconsin State Information
Legal Status: Legal
Citation:
Wis. Stat. ยง 138.09
Loan Terms:
Maximum Loan Amount: Not Specified
Loan Term: Not Specified
Maximum Finance Rate and Fees: No Limit
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: No Limit
Rollovers Permitted: Not Specified
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $15 NSF fee if check returned due to no account open at bank, insufficient funds or insufficient credit. Check presentment limit: two times.
Criminal Action: Prohibited (per Wisconsin worthless check law, a check given to secure a loan isn't "worthless")
Where to Complain, Get Information:
Regulator: Wisconsin Department of Financial Institutions
Address: Wisconsin Consumer Act Section, P.O. Box 8041 Madison WI 53708
Phone: (608) 261-9555
Fax: (608) 261-7200
Regulatory Contact: Paul Egide,, Consumer Act Director |
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cannr
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Posted: Mon Apr 07, 2008 11:21 am
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Please let us know how much you borrowed and repaid to each lender.
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kashzan
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Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Apr 07, 2008 11:22 am
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Welcome, sburns!  We can certainly help you here! I posted your state pdl law so that we can all see it. Now, we can check on your pdls, okay? Thanks for listing them out. However, can you please let us know how much you have borrowed from each one (principle amount only) and how much you have paid back total to date? It helps us figure out where you stand.
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cannr
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Posted: Mon Apr 07, 2008 11:24 am
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Posting at the same time, kash! 
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cannr
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Posts: 9339
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Posted: Mon Apr 07, 2008 11:25 am
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Cash Advance Network will not be licensed/legal. They are a d/b/a of MTE Financial. Not licensed to lend anywhere.
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cannr
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Posted: Mon Apr 07, 2008 11:41 am
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Payday Avenue $500 Load Repay 689.90 every 2 weeks
Impact Cash $350 Loan repaid at least $580
Cash Advance Network $400 Loan repaid at least $650
Pay check today $200 Loan repaid $120
Husk Hawk Marketing $300 Loan New
Electronic Payment Processing $300 Loan New
Little Loan Shoppe $300 Loan New
Alot of these have paid more but they were renewed
I also have a balance from Cash Net from 3-4 years ago they were still calling me on and now am making 6 more payments of 73
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sburns
Joined: 07 Apr 2008
Posts: 15
Debtcc Points: 416
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Posted: Mon Apr 07, 2008 11:43 am
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Paycheck today is also part of MTE. Not licensed/legal
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Apr 07, 2008 11:43 am
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So if they are illegal, can I send them something to stop the withdrawals right away?
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sburns
Joined: 07 Apr 2008
Posts: 15
Debtcc Points: 416
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Posted: Mon Apr 07, 2008 11:46 am
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No. You can not send anyone anything until your account is closed and safe. Otherwise they will go in and literally bleed you dry. They will take everything you have.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Apr 07, 2008 11:46 am
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They won't stop debiting just because you ask them to. They will continue to debit. What is the status of your bank account right now? Open/active?
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cannr
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Posts: 9339
Debtcc Points: 123859
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Posted: Mon Apr 07, 2008 11:46 am
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Damn! Posting at the same time again!
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cannr
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Posts: 9339
Debtcc Points: 123859
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Posted: Mon Apr 07, 2008 11:47 am
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you must either block debits or close your account.make sure any debit attempts will not force it open.then you contact the pdl's.if you contact them with your account still open they will leave you in a sea of red nsf ink.make sure they can't debit anymore before any attempt to contact is made.
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paulmergel
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Posted: Mon Apr 07, 2008 11:52 am
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All of us posting at the same time.LOL
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Apr 07, 2008 11:52 am
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My checking acct is still open
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sburns
Joined: 07 Apr 2008
Posts: 15
Debtcc Points: 416
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