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 Posted: Tue Oct 30, 2007 12:11 pm |
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Zip Cash, One Step, Arrowhead,Cash Supply,United?'
I live in Washington DC
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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| Posted: Tue Oct 30, 2007 12:12 pm |
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United Cash loans is not. The others I don't know, hopefully someone will chime in.
_________________
"Who leaves a country packed with ponies to come to a non-pony country?"
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JEN5276
Joined: 31 May 2007
Posts: 394
Debtcc Points: 7005
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| Posted: Tue Oct 30, 2007 12:14 pm |
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hopefully......
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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| Posted: Tue Oct 30, 2007 12:24 pm |
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Zip Cash is licensed in New Mexico.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111615
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| Posted: Tue Oct 30, 2007 12:25 pm |
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Here are the state laws for DC
| Quote: | D.C. State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
D.C. Code Ann. ยง 26-301 et seq.
Loan Terms:
Maximum Loan Amount: $1000
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 10% of face amount + fee of $5: $0- $250; $10: $251-$500; $15: $501- $750; $20:$751-$1000
Finance Charge for 14-day $100 loan: $16.10
apr for 14-day $100 loan: 419%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Not Specified
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: D.C. Department of Insurance, Securities and Banking
Address: 810 First Street, NE, Suite 701 Washington DC 20002
Phone: (202) 727- 8000
Fax: (202) 535-1197
Regulatory Contact: Howard Amer,, Director, Banking Bureau
http://disb.dc.gov/disr/site/default.asp |
Emails to and from the DFI:
| Quote: | Hello,
Do internet based companies need to be licensed by DC to lend legally in DC? Or can they be licensed in their home state? I have several payday loans and they are all licensed in other states. They say they don't need a DC license. Is that correct?
Thanks!
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| Quote: |
Hello Ms,
The old law required any deferred deposit lender to be physically located in DC. However, these laws were implemented before the internet became an issue. The department has taken the stance in the past that all deferred deposit lenders must be licensed by DC.
New laws have recently been passed specifically addressing the issue of internet lenders. Now, all lenders, regardless of location, must be licensed under the Money Lender Act. This law has just recently taken effect.
Sincerly,
Brian Rouse
Licensing Supervisor, Banking Bureau
Department of Insurance, Securities and Banking
810 First St. NE, suite 701
Washington DC 20002
202-442-7821 |
What does this mean?
Internet lenders, before and after the new law, must be licensed by DC.
No limits to Rollovers.
Specific amounts can be charged.
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lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
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| Posted: Tue Oct 30, 2007 12:28 pm |
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so since I have all internet pdl's then i can dispute them all? i dont really understand? and if i can dispute them would i send my letter to the address listed above?
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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| Posted: Tue Oct 30, 2007 12:33 pm |
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Is this country wide or state specific?
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Breakthecycle2
Joined: 22 Oct 2007
Posts: 192
Debtcc Points: 3223
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| Posted: Tue Oct 30, 2007 12:34 pm |
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for washington dc
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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| Posted: Tue Oct 30, 2007 12:35 pm |
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The info posted above is for DC
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5461
Debtcc Points: 38903
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| Posted: Tue Oct 30, 2007 12:40 pm |
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We need to find out if these companies are licenced in DC. Should be able to access that informaton with the Dept of Finance & Banking for your state. If they are not licensed then you can send the letter I pm'd to you to each one of the pdl companies. As I stated in the pm you can tailor the letter to your specific needs.
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lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
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| Posted: Tue Oct 30, 2007 12:44 pm |
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Good advice IMK.
jay should follow your advice and see if these are indeed licensed. The Dept of Finance and Banking should have this info.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5461
Debtcc Points: 38903
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| Posted: Tue Oct 30, 2007 12:47 pm |
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i just went on the Dept of Finance&Banking, I am so confused, I looked up all the companies, and none of them showed anything
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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| Posted: Tue Oct 30, 2007 12:56 pm |
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Its usually the state dept of corporations...for your applicable state.
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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24895
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| Posted: Tue Oct 30, 2007 1:04 pm |
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can someone help me out with the fax numbers and addresses to these comapnies so that i can get these letters out.
i am going to close my acct tomorrow, and they are set to debit tomorrow, is that wise to do?
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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| Posted: Tue Oct 30, 2007 1:06 pm |
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take a few minutes to check their websites and then come back and let us know which ones you need. most of them have the addresses on their website.
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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24895
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| Posted: Tue Oct 30, 2007 1:10 pm |
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Google them, or use the search box above. That is the best and fastest way to het the info you need.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5461
Debtcc Points: 38903
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