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Send message to brownsugar
Sub: #81
Replied on 11-25-2006, 02:39 PM
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Laverne--
This is for you. It is from CashnetUSA's website which states they are licensed in your state. It also talks about a repayment plan. Read it carefully

Quote:
Governing Law
The loan agreement will be governed by the applicable laws. Questions or complaints should be directed to your state's regulatory agency that you can find by clicking here.

Illinois Pamphlets
English and Spanish pamphlets.

Illinois Disclosure
This loan is not intended to meet long-term financial needs. This loan should only be used to meet short-term needs. The cost of your loan may be higher than loans offered by other lending institutions.
This loan is regulated by the Department of Financial & Professional Regulation.
You cannot be prosecuted in criminal court to collect this loan.

Interest-Free Payment Plan
If you still owe on one or more payday loans after 35 days, you are entitled to enter into a repayment plan. The repayment plan will give you at least 55 days to repay your loan in installments with no additional finance charges, interest, fees or other charges of any kind.

Maximum Loan Amount
The maximum loan amount for Illinois residents will be 25% of gross monthly income.

Fax of Pay-Stub
By Illinois regulation, all Illinois customers must have a pay stub on file with CashNetUSA when receiving a payday loan. Please fax or e-mail your latest pay stub when applying to ensure quick processing of your loan. If you receive income by means other than an employer, please fax or e-mail other proof of your Social Security, disability, child support or alimony payments.

Loan Terms
Your loan will be due on your next payday that falls between 13 to 35 days away.
If you are paid by paper check, we will give you a grace period of 1 day to deposit your check.
If you are paid monthly, your loan will be due on your next payday that falls between 13 to 35 days away.*
If your pay dates fall outside of these ranges, your loan will be due in 14 days.
* For loan contracts written prior to 02/01/2006, the maximum term was 31 days in all states except for Kansas and Louisiana, which had maximum terms of 30 days.

Extensions
In accordance with Illinois law, your loan must be paid in full on the due date. Early payoff requests must be received at least 2 business days prior to your due date.

Fees and Charges
Your loan fees will be $15.50 per $100 borrowed.

Fees


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Send message to cojames_2000
Sub: #82
Replied on 11-25-2006, 02:47 PM
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I have a loan with cashnet as well. they don't have a license on their PA page as they do for IL. Does that mean that they are not licesend in PA? they also don't have anythin about a repayment plan.

Sub: #83
Replied on 11-25-2006, 02:50 PM
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That is a great question. PA does not allow lenders to obtain licenses in their state however, if the lending company is licensed elsewhere, those laws of their home state must be followed. You should call CashnetUSA and find out what state laws your loan falls under. Will you let us know what they tell you?

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Send message to brownsugar
Sub: #84
Replied on 11-25-2006, 02:51 PM
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Cojames_2000--

Quote:
I just look at Cashnetusa's website and this is what I found for Pennsylvania.


Rates and Terms > PennsylvaniaEnglish
En Español Governing Law
The loan agreement will be governed by the applicable laws. Questions or complaints should be directed to your state's regulatory agency that you can find by clicking here.

Maximum Loan Amount
The maximum loan amount for Pennsylvania residents will be $1500.00.

Loan Terms
Your loan will be due on your next payday that falls between 8 to 35 days away.
If you are paid by paper check, we will give you a grace period of 1 day to deposit your check.
If you are paid monthly, your loan will be due on your next payday that falls between 8 to 35 days away.*
If your paydates fall outside of these ranges, your loan will be due in 14 days.
* For loan contracts written prior to 02/01/2006, the maximum term was 31 days in all states except for Kansas and Louisiana, which had maximum terms of 30 days.

Extensions
If you are paid weekly, bi-weekly or twice a month, you may extend your loan a maximum of 3 times by paying an additional fee before the full amount must be satisfied. If you are paid monthly, you may extend your loan a maximum of 1 time by paying an additional fee before the full amount must be satisfied. Extension, partial payment, and early payoff requests must be received at least 2 business days prior to your due date. You can request these updates to your loan by logging into your member account.

Fees Schedule and apr


Sub: #85 now i am depressed again
Replied on 11-25-2006, 02:53 PM
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so you are saying what to the licensed companies can they sue me take me to court garnish my wages, what to do i need the counselor to hurry and call me so i guess all the payday loans i have are legal huh so i guess i am in a mess i dont know how to get out right now i need to pay my gas light morgage,right now then i will guess i will make a arrangement with thes companies till i pay them off. thinks rach for the tip so i am back to square one, dont know how to do this by dec 8th..

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Send message to WHEREAMI?
Sub: #86
Replied on 11-25-2006, 02:53 PM
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Rach and Brownsugar are right, CashNetUsa only has to be licensed in their state to loan to PA residents. (Even though they are prohibited in PA, this really only means that you won't find any storefronts in PA)

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Send message to cojames_2000
Sub: #87
Replied on 11-25-2006, 02:56 PM
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do I follow the same process for them as the other loan companies and send the letter from Polly's blog?

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Send message to WHEREAMI?
Sub: #88
Replied on 11-25-2006, 02:58 PM
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You can do this, but CashNetUsa usually follows the law. You can contact them and make payment arrangements, treat them as you would a storefront.

Sub: #89
Replied on 11-25-2006, 02:58 PM
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I don't think that would be in your best interest to do that. Polly's letter is intended for unlicensed companies. You would probably get a better result by simply calling Cashnet USA to work out a repayment plan.

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Send message to cojames_2000
Sub: #90
Replied on 11-25-2006, 03:00 PM
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how do I know if they should apply to the other payday loan lenders that I have. Should I send them all the letter (except cashnet). With cashnet, should I offer them arrangements? how small will they go?

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Send message to brownsugar
Sub: #91
Replied on 11-25-2006, 03:00 PM
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Cashnet isn't doing business right now in the states of Florida, Indiana, and Michigan, but their website says they will be soon.

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Send message to cojames_2000
Sub: #92
Replied on 11-25-2006, 03:07 PM
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I will contact Cashnet directly. Do they have to accept the payment plan that you offer? Can you send the payments in instead of having them debit them directly?

Also, for the other online loans, should I use the letter for them and file a complaint with the AG? Also should I file a complaint with the AG for Cashnet as well?

I am planning to do this starting to tomorrow so I want to make sure that I am following the proper process so that I don't have any legal issues with any of the companies.

The list of companies are:
Cashnet
Cash Central
Cash Transfer Center
Payday OK
Impact Cash

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Send message to WHEREAMI?
Sub: #93
Replied on 11-25-2006, 03:11 PM
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Demand a physical address to mail money orders should you still owe anything on the principal amount borrowed. DO NOT GIVE OUT YOUR ACCOUNT INFO. TELL THEM YOU NO LONGER HAVE A CHECKING ACCT. And do not send it Moneygram or Western Union, tell them if they want paid it will be by money order only. And as for CashNet, I would not file a complaint with the AGs office against them, they are operating according to the law.

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Send message to cojames_2000
Sub: #94
Replied on 11-25-2006, 03:12 PM
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Steelers - do I assume that the other companies are not legal so I should send the letter, correct? I should not owe them anything additional, correct?

Sub: #95 now
Replied on 11-25-2006, 03:16 PM
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i dont know what to do who to beleive i dont want trouble with anyone i need to get back on track i have a lot of debt and bills i was ok till rach can on now i dont know what to do should i wait till they find out they cant pull anything out and then make a deal or will they just take action immediately along with the rest of them i owe a lot. the one that rolls over i problem will be through with them so help tell me what to do cring.

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Send message to WHEREAMI?
Sub: #96
Replied on 11-25-2006, 03:17 PM
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That is up to you laverne. But I'm not sure what Rach said that would make you think anything otherwise. Other than for residents in PA and the pdl law in PA.

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