payday-loan-yes saying they are a legal business

Get the licensing information confirmed from the AG and the Dept of Financial Institutions in Bahamas. They should be able to give you accurate information about this loan place.

I thought Payday-Loan-Yes was an affiliate of Cashnet500 and Global Payday.

Op,
I am very inexperienced on payday loans,but it has always been my opinion that the laws of your residence are the laws they must follow. Contact your state attorney general and office of financial institutions for guidance.

Most states have what they call long arm statutes that say that if an electronic business solicits, transacts, and continues to transact business with a consumer in another state, then the business is assumed to be doing business in the state of the consumer and is subject to the laws of the consumers state.

The fact of the matter is that the legally operating pdl's wouldn't be following the laws of other states if they didn't have to. If it was legal to choose which states laws they wanted to follow then they would all do that.

Payday-Loan-Yes is part of Cashnet 500/Global Payday. Cashnet has a Utah address, and Global Payday is supposedly located in Kansas. I think Global is actually the parent company of both, could be wrong, though.