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 Posted: Fri Mar 02, 2007 10:08 am Subject: payday-loan-yes saying they are a legal business |
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Payday-loan-yes.com is located in Nassau Bahamas. They say they are doing business legally and that they go by the name Saint George Lmtd. in the Bahamas. I have looked through several websites and cannot find that they are legal. Can anyone help with this? I have read the other blogs on them, but it does not look they got anywhere with it.
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YELIK1
Joined: 06 Dec 2006
Posts: 35
Debtcc Points: 1058
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| Posted: Fri Mar 02, 2007 2:30 pm Subject: |
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Get the licensing information confirmed from the AG and the Dept of Financial Institutions in Bahamas. They should be able to give you accurate information about this loan place.
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Ruby
Joined: 08 Mar 2006
Posts: 120
Debtcc Points: 2104
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| Posted: Fri Mar 02, 2007 2:38 pm Subject: |
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I thought Payday-Loan-Yes was an affiliate of Cashnet500 and Global Payday.
_________________
BROWNSUGAR!!
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brownsugar
Debt Samaritan
Joined: 08 Oct 2006
Posts: 1408
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| Posted: Fri Mar 02, 2007 3:51 pm Subject: |
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Op,
I am very inexperienced on payday loans,but it has always been my opinion that the laws of your residence are the laws they must follow. Contact your state attorney general and office of financial institutions for guidance.
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cajunbulldog
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| Posted: Fri Mar 02, 2007 4:18 pm Subject: |
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Most states have what they call long arm statutes that say that if an electronic business solicits, transacts, and continues to transact business with a consumer in another state, then the business is assumed to be doing business in the state of the consumer and is subject to the laws of the consumers state.
The fact of the matter is that the legally operating pdl's wouldn't be following the laws of other states if they didn't have to. If it was legal to choose which states laws they wanted to follow then they would all do that.
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goudah2424
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Joined: 31 Oct 2006
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| Posted: Wed Apr 04, 2007 6:56 am Subject: |
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Payday-Loan-Yes is part of Cashnet 500/Global Payday. Cashnet has a Utah address, and Global Payday is supposedly located in Kansas. I think Global is actually the parent company of both, could be wrong, though.
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Tiffany99
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Joined: 15 Jun 2006
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