Florida law on pay day loans

Go through this page for the laws in FL

http://www.debtconsolidationcare.com/florida/paydayloan-help.html

What is the actual loan amount and how much is paid so far?

Please remember that Florida is a non garnishment state. They can only garnish up to 25 percent and only with your written permission. If you signed any "wage assignment agreement" that is a different thing. You must revoke that. They can not take any criminal action against you under Florida law either. What payday loan company is it? Some are not licensed and can only make threats. Someone here will have experience with them and will tell you what they are all about

your Florida state info here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

i have a defaulted payday loan with cash banc they have threatend to have me arrested for not paying my debt by monday , they say they will download my case can they do this.

I was contacted today from a "processor". He told me that they are taking me to court for a felony. Can they do that?

I have two outsanding payday loans and they have been calling my job and home threatening that they are going to garnish my tax return and wages can they so this?

why not just pay them.

damion,

You can not be arrested for not paying a debt. It is a civil matter not criminal.

Florida law prohibits any debt collector from threatening criminal action! Even an originasl creditor! You can file a suit against them for that! Also if a payday lender is not licensed in Florida the debt is non collectable under the Florida Consumer Financial Act regardless of the geographic location of the lender.

Can anyone give me any information of the following companies as far as legalities in the state of florida? The one, in particular, FOX, is really shady. I called them and they cussed me up one side and down the other for asking for a mailing address.

unitedcash.com
fox enterprises
m1ydirect
paragon
loanshoponline.com


Also, how much can they charge in florida per 100?

Thanks in advance!!
Robyn

Robyn, below contais a link for the FL payday loan laws, payday lenders must be licensed to lend in your state:
http://www.paydayloaninfo.org/state_detail.cfm?id=FL
Below contains a link for the licensee data base for FL.:
http://www.flofr.com/Downloads/licensecheck.htm

Keep one thing in mind, FL does have CSO's (Credit Service Organizations), they would not follow the payday loan laws and are usually perfectly legal in what they charge. None of yours are CSO's but I wanted to make you aware of that fact. CLICK HERE to find out how to deal with illegal lenders.

Thank you Shazzers!! When I hit the link to check if they are legal, which search are the lenders under? Would it be Consumer Services??

Robyn

None of yours are legal. You would search under non-depository lenders.

i keep getting call from these indian guys threating me and cussing me said they are going to keep calling my job until i get fired called me all kinds of names. say they are from some law firm and they are putting a warrent out for my arrest. i live in florida and have several internet payday loans from loan point usa, star cash, JHS marketing ,Avantis Mesa Finacial In My Account. Com I have been in Touch with all and am making payments are any of these lenders liscensed in florida. Please help I am a single Mom and in fear of Losing my job over this mess.

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I took a 150.00 payday advance on the internet 5 years ago. They took 50.00 for an automatic extension fee each time. They cause me to overdraft and they took out more than what I owed. Well, ACE Cash Express bought the company and I got a call from an Agent Moss today saying I owe 700.00! He said if I do not pay it charges for check fraud would be bought against me here in Florida. What do I do? I am afraid to be arrested he said he willhave the sheriff come get me before x-mas if I dont paythis and I refuse to pay that amount I know I dont owe it.

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Hello,

I actually got into a verbal altercation at my JOB today with a fellow from Northway Financial, aka, zip19.com, aka...who knows what else...threats, etc. ensued. I calmed down and pretended to go along with the act that i was intimidated, wanting to get more information.
I am more than willing to pay what people have loaned. No problem. Also I am reading that rollovers are not legal in Florida? if that is so, then Oasis Mkt group and payday loans yes are both violators and have long since gotten what the loaned, plus run my checking acct into the red zone. Still calling for more!
Any advice?
Thanks,
C

Ive searched and can find no license thru Fla Financial Regulator website on Northway Financial, dba/zip19.com, or Oasis Marketing, or Payday Loans Yes.
Ive borrowed 250.00 from PDLY, repaid 150.00 so far(rollover "finance" charges)
350.00 from Oasis, paid back 315.00 so far (rollover "finance' charges)
and 560.00 from Northway, they dont do rollovers, but the repayment amt is
739.00! outrageous.
They have also taken 79.00 and 19.99 respectively, to "join" a discount restaurant club, without my consent, and over drew my acct.

And of course, they are demanding the entire original loan amount plus another "finance" charge on top of that to pay it off.
I had no idea what rolling over could do to your accounts as I did not know how they worked, now I know why they are illegal, as they should be. What can I do?
I live in Fla.
Thanks!
CD

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Hi does anyone have any info on a company called National Credit Works? 866-941-3774? They are telling me that they are going to fax paperwork over to the courts and file charges for check fraud? Can they do that? They will not even let me pay anything unless it is there full amount. I called cash net usa and they said i had to talkt to the other company. PLease help I dont know what to do. Thankyou

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about a year ago i took out a payday loan online with shamrock marketing group in the amt of $200. I believe they sold my debt to a company called Frontier Financial Group that calls me and leaves messages about a check i wrote, and a suit that will be filed in the future. I am so tired of these companies calling me, if i had the money to pay them i would but honestly, who has money these days? I am also scared to pay. I dont want them to suck me dry i hardly have anything as it is. What can these companies legally do and am i legally required to pay either of them? what are my rights and are these companies legit? i have read on a few message boards that they are scams. neither of the companies are in jacksonville fl are they illegal?

Can someone get me an address or fax# for FFG & Associates - Mid-Continent. I want to send them a C&D letter and cannot find any info on them besides a fax number. Please help!!!

They can do nothing beside what they are doing! Threats with no teeth! Florida law prohibits lending by any PDL that is not licensed in the state! They also make loans by unlicensed lenders non collectable. Also the collection agency is required to be licensed in Florida also! Add to this Florida is a non-garnishment state! There is nothing that they can do to you. If you do decide to pay them as strictly a moral obligation do it by prepaid debit card which you can get in Albertsons, Amscot or many other places! That way they can only get what you give them.

Hi, may be most of the clients are not aware of this fact that in the Florida bill it states that lenders cannot loan more than $500. The Florida bill also puts a restriction on the amount of interest payday loan lenders can charge. Currently in Florida, interest rates are capped at 10%, one of the lowest rates in the nation.
The Florida bill also puts additional restrictions on the number of loans a borrower can take out at one time. Currently under Florida law, a person is only permitted one payday loan at a time. Also, under Florida law if a person cannot payback a payday loan on time, the lender must give a 60-day grace period before collecting. This is only if the customer completes credit counseling and works out a payment plan with the lender. This Florida bill that puts restrictions on payday loan practices was sponsored by Senator Lee Constantine. Constatine???s bill (CS/SB 1526 & 314) is the first bill of it???s kind in Florida. So far it has stopped a lot of consumers from getting caught in the treadmill of rollovers and extensions.

I tried to find if the companies SSM Paydayloan and Pack management Group have license to work in Florida? They've been calling me in daily basis threatening of legal action, garnish my salary. At the begining I was receiving calls from a William G Sokol law office and now I am also receiving phone calls from a Fl phone number which states that is a debt collection agency. I included these two debts in a consolidation program but they insists that they are not going to do business with them and I have to pay $520. Any suggestions?

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I'm a five-year Florida resident. I'm dealing with two payday loans:
1) money2advance ($700 original loan; have paid $350 in interest thus far)
2) discountadvances.com ($760 original loan; first payment due Aug. 13)
it appears neither of these is licensed in Florida. can anyone confirm this?
Also, i was working with a debt consolidation group and their first suggestion was to close and re-open my Bank of America account. That did not help. I now am going to close my BOA account and re-open elsewhere.
1) neither of these outfits can draw from a new account at a new bank, correct?
2) why in the world would I pay a settlement outfit to "handle" these for me? in other words, it appears they will just stonewall, then deal with collections, while charging me about $700 in fees for their services on $1,460 in loans.
Seems to me I should just blow these off and let them go to collections, then negotiate. Any reason I would not do this?
p.s. I want to stab myself in the eyes for getting myself into this predicament!

I'm a five-year Florida resident and have two of these things with:
1) Money2advance.com; ($700 original loan, have paid $350 in interest)
2) discountadvances.com; ($760 original loan; payoff of $1048 on Aug. 13)

Are either or both of these licensed in Florida? best i can tell, they are not.

I checked out the debt relief sites and even started the processes. The first step recommended by one company was to close my Bank of America checking account and re-open another. well, that didn't work at all. so my account was drained as I paid off the original discountadvances.com advance ($1038 hit) and the second $175 bi-weekly payment to money2advance. so, walla, i had to take another loan today with discountadvances.com to cover rent. sigh.

for what it's worth, i have taken a lot of these dumb things and have always paid them off.

i spoke with another payday consolidation company. first step is to CLOSE the account, particularly with Bank of America. I look thru their materials and have to admit, I don't know why I would pay them to do what I can do: blow this off till collections come up, then deal with that. or not, if these outfits are illegal and they certainly seem to at least be well outside of the parameters that florida allows.

MY MAIN CONCERN at the moment is closing my Bank of America account. I'm amazed to see that it looks like they can somehow keep your account open and allow these outfits to continue to draw for up to 45 days after closing. i will NOT be depositing there, however, so does that really matter even if true?

Can i SAFELY open another checking account at another bank (Sun Trust or Wachovia, probably)? since i obviously have not given the account and routing numbers nor my permission to draw from that account to money2advance.com and discountadvances.com, it seems to me there is no way they could even attempt to draw from a new account, but i've read some creey stuff this morn thru these forums.

Any help ASAP would be GREATLY appreciated.

sorry for the double (now triple!) post. the first did not appear for a good bit of time.

I took a payday loan from The Check Cashing Store. I owe $330 and I cant pay it back. They have a paper check the was written to them from me from an account that has now been close due to a continuous negative balance . Is there any potential legal action they can take against me if I don't pay back the loan? I looked over the previous post on this topic but they were all referring to internet based lenders.. is their any difference? Please help...thanks.

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On 2 different occasions I was able to make payment arrangements for less than the amount that was owed that was broken up into 2 or 3 payments without continuing to renew when I couldn't pay (so basically no interest). Also ,to answer someone previously, yes, you can open acct. at another bank. Loan company does not have the authorization to mess with your other bank accts. I have had up to 4 loans at once by applying online but it was hard to pay back (The National Money Store, Payday Loan Yes, One Click Cash, and Ameriloan) I have renewed 2 of them.Oh and I live in Florida. PLY told me they can no longer operate in Fl because they don't have a storefront and that is the new law in Fl but not sure if that is true.

Also, someone called my friend saying that they were from Payday Loan Yes and needed her info. When she realized that they were asking too many questions she hung up and called them on the number that she had for them and she was told that someone hacked into their system and stole customers info. Again not sure if true just wanted to put that out there.

Florida law requires all lenders to be licensed regardless of their geographic location! They are not required to have a storefront from what I was told by the FDFS! If they are not licensed the loans are not legally collectable! Although that does not erase the moral obligation to return the principal!

I just recieved a phone call from a lady stating she was an attorney that was hired by one of the pay day loans and if I didnt pay her $500 within 5 hours she was going to fill out a form fax it to the state attorneys office in florida for an arrest warrant on me and I will be charged with 2 felonies for writing bad checks. When I took out the loan they automatically would take it out of my account until I closed that account because it went negative. Can they do that? I told her I didnt have the money and she got upset and said "I should stay on her good side" and then stated she was going to immediately fill out that form and have an arrest warrant out for me. I believe her number is from Texas 512-547-6823?
Can someone please help me.

Hi, I am trying to confirm if the payday loans i have outstanding are licensed in florida. I am having a hard time with the link posted above. Can someone please help....
I have the following:
Thinkcash
pdlnow.com
integrity Advance, LLC
paydaymax.com

Thinkcash is backed by First bank of Delaware, so yes it is legal

Well I filled alot of online loan applications. For all the harassing to be done away with these companies is just fill in false info on the app. They don't check it and pretend like they are. I never give out my real phone number or at an address... they're illegal and cant access your info either way. all they have is a bank account number and routing number which you can change. Also just for confirmation is Ameriloan illegal if so I'm closing my account.

did anyone know about the new law that is effective October 1, 2010. The state of florida has increased the amount that is exempt from garnishment. The amount is $ 750.00 per week. Does that mean that i would be exempt if the pdls or Chase take me to court seeking a wage garnishment. I do not make more than $ 750.00 per week.

An Any out-of-state consumer debt collector who collects or attempts
to collect consumer debts in this state without first registering in accordance
with this part is shall be subject to an administrative fine of up to $10,000 not
to exceed $1,000 together with reasonable attorney fees and court costs in
any successful action by the state to collect such fines.

for everyone who is in the state of florida should read this. It is a brand new law which went into effect October 1, 2010.

http://laws.flrules.org/files/Ch_2010-127.pdf

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yes there is a lot more to that law

I have seen in some cases they can charge you in civil court as well as criminal court :Dit up!

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I have some outstanding payday loans that at this time I am not able to pay. I have paid one in installments, but now another one that I used, is calling and threating me with 3 criminal charges and saying they will contact my employer and put me in jail. I have every plan to pay them back, but I will have to take one at a time. I live in Florida, and I am wondering can they put me in jail for check fraud charges? Also can they contact my employer telling them they are going to put me in jail, and that my employer needs to garnish my wages in one lum sum? Finally why can the attorney not tell me who the plantiff is. I do not want to go to jail, or have them contact my job, but I don't know what to say to them to stop this from happening. The man who called me today said I need to have my attorney contact him back, but if I can't afford to pay him back, how can I pay an attorney? He said if I can't afford attorney , the states attorney office will apoint me one. Please help me. Below are the payday loans I had.
Cash transfer Center
United Cash Loans
I Advance Cash
Cash Jar
the cash Spot
VIP Loan Shop

I also received this call fron these people. I even called a relative who is a police officer. I was so scared!!! Aftrer my friend got a hold of them they backed out and left me alone. I too had a loan from loan point usa so perhaps it has something to do with that.