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 Posted: Mon Nov 20, 2006 8:41 am Subject: Pay Day Loan Licensed in State? |
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Hello,
I want to know if WebPayDay is licensed in my state? I live in South Carolina. Also How do i find out if a payday loan is licensed in my state?
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seanski7
Joined: 24 Aug 2005
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| Posted: Mon Nov 20, 2006 9:25 am Subject: payday loans |
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Welcome Payday lending unfortunately is legal in your state. You can check secretary of state to see if they are licensed there. I would still fill a complaint with Attorney General and they can direct you in right place. Keep us posted. KYSIDE38
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KYSIDE38
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| Posted: Mon Nov 20, 2006 9:39 am Subject: PDL licensed in states?? |
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How do I find out if companies are licensed in my state? Tennessee
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atm
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Debtcc Points: 100
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| Posted: Mon Nov 20, 2006 10:10 am Subject: |
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| Quote: | Citation:
Tenn. Code Ann. §45-17-101 et seq. and Tenn. Comp. R. & Regs. § 0180-28-.01
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville, TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill,
http://www.tennessee.gov/tdfi/
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NotsoLucky
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PDLFREE
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| Posted: Mon Nov 20, 2006 10:42 am Subject: |
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ATM - as far as finding out if they're licensed in your state, go to your state's governmental website, look for your Attorney General's department and start there. If there is no licensure link there, do a general search from the state government's homepage on "business license status". That should help you find them.
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SUEBEEHONEY70
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| Posted: Mon Nov 20, 2006 11:21 am Subject: |
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Probably, you will get some info with the South Carolina Dept of Consumer Affairs. Here is the link
http://www.scconsumer.gov/
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keystrokes
Joined: 13 Jul 2006
Posts: 501
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| Posted: Mon Nov 20, 2006 11:32 am Subject: |
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Alot of these companies will tell you that they don't have to go by your laws, but they do have to go by the laws of the state of the "consumer"...
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natdust20
Joined: 19 May 2006
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| Posted: Mon Nov 20, 2006 1:08 pm Subject: |
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When you say this, I thought this information should also come along with -
Natdust is right but there are a few exceptions. In PA, if a lender is licensed in their state, they can do the business in the borrowers' state even if they are not licensed there and even if payday loans are prohibited in that state.
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FlyingCats
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