How do I find out if a payday company is licsensed in my sta

To find out if it is licensed, do a google search on Pollyandsays' blog, find your state and click it on.

Welcome to the forums :D Check out this website for your state info. paydayloaninfo.org. Is this a storefront or internet pdl?

Internet pdl

bluedreamerone -

Welcome! Since you have registered with this site, a debt counselor will be contacting you for a free phone consultation. If you feel you don't need their services, please let them know when they call.

Take a few moments to browse around the site and check out the posts on payday loans. Educate yourself about the various ways these companies go about collecting their money from their "clients" - you'll be quickly convinced not to ever take one out again.

Also, bluedreamerone, can you give us the name of the company you're dealing with? That helps us give more accurate advice.

The website didn't provide me with the information that I was looking for. The companies that I was looking for were Arrowhead investments and Northway

Arrowhead Investments, Inc.
32 West 200 South, Suite 350
Salt Lake City, UT 84101
Phone#(866)355-7308
Fax # (866)379-7667

Northway is a company that Cash Transfer Centers, Sonic, Paydayavenue,etc. use. Do you have a pdl with one of these companies?

I know that Arrowhead or Northway are not licensed in the states.

Here are several posts on both Northway and Arrowhead. Neither is a good company to deal with - they are both notorious for making threats in order to get you to pay. These threads should contain contact info for you:

www.debtconsolidationcare.com/creditors-information/about19805.html

www.debtconsolidationcare.com/forums/northway-debit.html

www.debtconsolidationcare.com/settlement/about19938.html

www.debtconsolidationcare.com/settlement/arrowhead-call.html

Thanks for the information. I have a pdl with both companies. I am in the process and sending letters to both for payment arrangements.

bluedreamerone -

before you send that letter, can you tell us how much your original loan was with each company, and how much you have paid? We might be able to help you get them marked paid in full if you have already overpaid. No need to make a settlement with these companies if you have already overpaid them.

Also, are they still debiting your bank account each payday? If so, you may want to consider closing your bank account and opening a new one with your bank (or another bank). Explain to your bank what is going on, and tell them you simply want to start over with a new account to regain control of your money.

These companies are hard to deal with when it comes to payment arrangements. I have a direct contact # for the account manager for Northway. Her name is Lisa Burton and her # is (866)261-4036. Best believe, she is a trip. Good Luck :D

I have closed my account and opened one with a new bank. The two companies are fairly new and I have only made one payment. I have spoken to my bank and have an appointment next week.

Thanks for the contact info.

I understand that this wil be a challenge, but I am up for the fight. Faith goes a long way.

Any advice, however, would be helpful.

I have read about these companies

Pay back the principal and what your state allows in interest and not a dime more. Also send in complaints to your Attorney Generals office. These people are loan sharks and noithing more. They catch people in desperate circumstances and take advantage. They will tell you everything that they dont have to follow your state laws they will arrest you etc. be ready for a fight. You will be ok. KYSIDE38

My gads. Arrowhead is only a couple of blocks away from where I work. Anyone want me to throw eggs at their windows?

Thanks, kyside38 for your insight. I have my state information regrading payday loans and have letters in place for paying back the principal and the interestt allowed by my state. Do you know whre I can find a sample/form letter for complaints to the AG and how I can get the address for the AG?

In case kyside isn't on yet this morning...

here is the law and contact info for the Florida state regulator:

Legal Status: Legal

Citation:
Fl. Stat. Ann. ???? 560.401 et seq.; Rule 69V-560.901-912

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes

Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee, FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748


If you are not located in Florida, please go to www.paydayloaninfo.org and click on your state to find the info you need.

Debtfairy--

Make sure you throw an egg for me :lol:

LOL Brownsugar!

I have a couple dozen available. I'm taking reservations now. (j/k)

Guest Just look at your state and type in Attorney General there are usually forms that you can find on there to download ad mail in. Consumer division. Hope this helps. Kyside38