Is this an accurate response from the pd lender?

Date: Wed, 11/29/2006 - 13:55

Submitted by PPRICE
on Wed, 11/29/2006 - 13:55

Posts: 8 Credits: [Donate]

Total Replies: 9

I used the template for payday internet lenders.One of the pd lenders sent me an e-mail from the correspondence office telling me that it did not matter that I live In North Carolina I would be subject to: Regardless of where you may be viewing or accessing this site, you as the borrower are responsible for complying with any local statutory obligations that may exist in your state or area with respect to this transaction. The Federal laws and laws of the jurisdiction in which the Lender is located governing this consumer loan agreement may differ from the laws of the state where you reside. If you do not want to enter into a consumer loan agreement with us under our terms, then you should apply for a loan at a provider located in the state where you live.This is what they sent.

Correct me once again if I am wrong. The PDL company has to foll

Correct me once again if I am wrong. The PDL company has to follow the laws of the state that the "CONSUMER" resides in...

lrhall41

Submitted by natdust20 on Wed, 11/29/2006 - 13:58

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They are more less saying that it my responibility as a consumer

They are more less saying that it my responibility as a consumer to follow the laws of my state not theirs.

lrhall41

Submitted by PPRICE on Wed, 11/29/2006 - 14:04

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The internet payday loan companies have to follow the laws of th

The internet payday loan companies have to follow the laws of the state where the borrower resides. This is a federal law and is followed in almost every state. If the company is preparing the contract in contradiction to the laws, this is a violation. Your State Attorney General will give you more information on this.

North Carolina prohibits payday loans. Are these lenders internet or storefront?

lrhall41

Submitted by ricjil on Wed, 11/29/2006 - 14:07

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Internet

lrhall41

Submitted by PPRICE on Wed, 11/29/2006 - 14:13

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Stand your ground. Repeatedly e-mail your settlement letter to t

Stand your ground. Repeatedly e-mail your settlement letter to them til they get sick of it, don't back down, they are prohibited in your state.

lrhall41

Submitted by WHEREAMI? on Wed, 11/29/2006 - 14:20

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What is?

Truth-In-Lending and Reg Z requirements as prescibed by Federal statute..

lrhall41

Submitted by PPRICE on Wed, 11/29/2006 - 14:42

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Don't let them get away with that excuse. The have to go by the

Don't let them get away with that excuse. The have to go by the laws in which the borrower resides. I have been told this by 3 different attorneys. One of the attorneys happens to have been a member of this site for quite sometime and has actually helped some of us personally.

lrhall41

Submitted by Not so Lucky on Wed, 11/29/2006 - 15:41

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This is a typical response from internet payday lenders. I was

This is a typical response from internet payday lenders. I was told by different attorney general's offices that they MUST follow the state laws of the consumer. I've even filed complaints in states where the internet lenders were located. They told me to file in mine since is where the transaction actually took place. Also send the letter certified mail with return receipt requested. This way you will have proof that they received it.

lrhall41

Submitted by Cow & Chicken on Wed, 11/29/2006 - 16:29

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They received the letter. I have saved the e-mail. I enjoy this

They received the letter. I have saved the e-mail. I enjoy this site. Thanks for your help with these issues.

lrhall41

Submitted by PPRICE on Wed, 11/29/2006 - 16:34

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