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Posted: Wed Jan 03, 2007 1:34 pm Subject: Payday Loan-yes

I need to find out if payday loan-yes & Global payday are licensed in Florida. My original loan was with Cashnet500 they are not licensed but not sure if these 2 others which are 2 other names they do business under are. thanks!

Posted: Wed Jan 03, 2007 1:48 pm Subject:

Global payday is cashnet500 . . . . They also go by usacashexpress. I haven't heard of payday loan yes, but I'm not surprised they are going by another name. I'd be surprised if they were licensed, they weren't in my state, and when I asked them about it they said that they are licensed in Utah, and that gives them the right to lend in other states without a license. Yeah right, since when does one state's laws apply in another state?

Posted: Wed Jan 03, 2007 1:48 pm Subject:

What state are you in?

Posted: Wed Jan 03, 2007 1:52 pm Subject:

I think jessie is in Florida . . . . In the post it mentions licensing in Florida . . . .

Posted: Wed Jan 03, 2007 1:59 pm Subject: Cashnet

They are very sneeky, I revoked wage garnishments & everything, closed my account and now they have taken $590 out of a new account. It's a mess, one nightmare after another with these people. My bank will do the provisional credit but this happened on 12/29, the credit will not post until this Friday or even Monday...then they have chaged me $420 in OD fees and only gave me back $300 of it. I'm stuck.

Posted: Wed Jan 03, 2007 2:01 pm Subject:

How did they get your new account info after closing the previous one?

Posted: Wed Jan 03, 2007 2:09 pm Subject:

I have no idea. I will close the current one after I get my money back but I'm afraid this will happen again. My bank said they may use a different name and we wouldn't know about it until after it went thru...this is a nightmare.

Posted: Wed Jan 03, 2007 2:13 pm Subject:

Thanks, Goudah, I missed that.

Jessie, Payday loan - yes and Global payday are NOT licensed in Florida. And even if they were, rollovers are NOT allowed.

Therefore, figure out the total amount you have paid each company including interest and fees. Deduct this from the original amount borrowed. You need only pay the principal back since they are not licensed. If you have already paid the principal, send them a letter, stating this fact. If you have overpaid, demand a refund. You can find a PDL template letter in Pollyandsay's blog. Just insert your state's laws and edit as appropriate. Also, let your bank know that these companies were acting illegally and, with that in mind, you don't feel you should be responsible for the bank fees. Good luck to you.

Most importantly, contact your attorney general's office and file a formal complaint with them. You can do this online. Also, when you write your PDL letter, let these companies know that you are reporting them to the AG's office. The best of luck to you.

Posted: Wed Jan 03, 2007 2:18 pm Subject:

ok, kinda new here so where do I pick up this letter...how do I find Pollyandsay's blog? And where do I find the states laws to add to this letter?

Has anyone had any luck getting the money they overpaid to any company refunded? Just curious. Thanks for all your help.

Posted: Wed Jan 03, 2007 2:27 pm Subject:

Hi Jessie.

To get your state laws, go to this site:

www.paydayloaninfo.org. To the left, click on state information. At the bottom of the page, click on your state. The laws will be stated there.

Here is the site for pollyandsay's blog:

http://pollyandsay.yesdebtfree.org/

I was able to get a refund for $150 from one company known as DMS Marketing after I sent the PDL template letter and informed them I was going to contact my attorney general's office. so it's definitely worth a try. Let us know how it goes.

Posted: Wed Jan 03, 2007 2:39 pm Subject:

ok, I pulled the letter off of the blog, now do I put inplace the laws from my state that I got from paydayloansinfo.org? This is all so confusing. Also that site gave me a link on filing a complaint, can I do that since they are not licensed in FLA, or just send a letter to the Attorney General?

Posted: Wed Jan 03, 2007 2:44 pm Subject:

Yes, where it says to insert your state laws, pull it from the paydayloansinfo.org site. You can file a complaint there and with the Attorney General. I know it's very confusing, but it's worth it in the end. If you have any more questions, let me know.

Posted: Wed Jan 03, 2007 4:48 pm Subject:

what i would do is research your state laws, go to your bank and advise them that you never authorized them to debit that account number. Now at that point it is straight up fraud especially if you revoked everything. I am going through this with nationwidecash and since i did it as fraud they are investigating and forwarding it to the AG, my department of consumer credit and the DA. That would be my recommendation. Now you would have to read your banking laws but if you do it as a fraud the bank may have no choice but to give you your money back, the full amount and take away the overdraft charges. Thats how my bank has to do it but they have been very cooperative in this. Especially if this company got your account information from a third party somehow as happened with me