PA consumers dealing with illegal internet pdls

And like we have stated time and time again. The interest rate max is 36 percent in Pa. Send those complaints in . Kyside38

Exactly, and some folks get told there is nothing they can do and that these companie can follow the state in which they are located inerest rate laws. I knew that was BS all along, but I'm hoping that new folks coming here from PA will get the right info. and fight these vultures that are abusing PA's usury laws.

I FILE WITH MY AG OFFICE ANY WHERE ELSE I NEED TO FILE

The BBB and the department in your state which regulates these type of companies. You do have hope lostlady and you should stand up and fight these guys, because they are not supposed to be abusing PA's usury laws and PA is now starting to sue the internet companies that are abusing them!

The company they are suing is Direct Financial Solutions dba Quik Payday out of Logan Utah. Kansas is suing them WV is suing them. If previous info is right then why is Pa suing them? Because they are breaking the law charging more than the allowed interest rate thats why. Lost Lady I think the Ag office will take care of these matters for you. I wish you the best. Kyside38

Kyside, I am waiting to be corrected. LOL. But that would be incorrect to correct information here that is correct. LOL

I thought this was true, thank you ladies for confirming the information. YOU ROCK!! This gives hope to residents in PA :-) I hope Quik Payday gets their pants sued off :P

First off, I've never once told anyone there is nothing they can do, on the contrary, there is still quite a bit you can do.

And second, my information is posted on the PA Dept of Bankings website. So I'm not just making up the information.

I just know that KYSIDE has the inside track on these things so this is very valuable new information. :)

I agree that it's great they are suing . . . . I just feel this post is directed at me, even though I'm not the first person to say PA allowed companies to be licensed elsewhere.

People can tell me I'm wrong all day long, but when my information in posted on the state's banking website, and is confirmed in writing from the guy that is in charge of regulating payday loans for that state, I'm going to believe it instead of people who I don't know.

Besides, I don't know what this suit is for, and what it's about. It could be that this company isn't licensed in it's home state as PA requires. That is very common that these places are licensed anywhere, as you know.

I think they are just trying to get the information out there. We are trying to encourage people to stand up and fight against these places. There has been to much false information on the posts lately and it's time to get the correct information out there. How you take a post is really up to you.

Huh? What? Say it again? What I get from this is actually great news for anybody dealing with this nightmare in Pennsylvania! How could anybody read anything other than good news out of this post? I would be celebrating if it were me not arguing over the content.

I must say this is great news :-) I have a friend in PA who is fighting through her own pdl situation right now. I will have to relay the information to her :-)

Get the information to her pronto! She could use news like this I am sure of it!

Here is the whole point about this post. Pa is not going to allow other states to charge what interest rate they want to. There is a cap set at 36 percent I dont care what state you are lending from. No more loopholes for them there. I also need to mention this has taken place June 12 according to the website. This payday company which is a DBA of Quik Payday charged to much in interest. Pa is not going to allow that and trust me this company is licensed in their state. This goes to show the Pa AG is not going to allow this kind of interest. That is their Law plain and simple. I am not directing this post at anybody just want Pa consumers to be aware of their rights and to complain to the Attorney General. Kyside38

kyside,

I think it is very valuable information that you posted here. What DBA is it? My friend had a loan with Quik Payday so that is why I am curious.

THey are listed under many names. This one particular company is calling theirselves Direct Financial Solutions. One in the same.

Very interesting, thanks!

You are welcome. Kyside38

Direct Financial Services, I did not know that. Good information to know, I will store this for future references! Thanks kyside38, it seems to me that you really know your stuff and are in the know as to what is going on with the law changes! You are an awesome resource. COOL!

PA has sued several other payday lenders in the last few years . . . . I was merely relaying that the information contained on the PA Banking Dept's website and James Keizer, the guy in charge of regulating payday loans for the state of PA, says that the companies can be licensed in another state, and that they can charge what that state allows.

Besides, it also clearly states that the 36% cap is for companies licensed and operating in the state of PA. Companies not licensed and still operating in PA are only allowed to charge 9% interest.

Finally found an article about it!


From the way I read this, it is a class action lawsuit with a private attorney. Not the AG's office suing them.

That is exactly right they have hired their own attorney however the state laws will be backing them. 36 percent max that is the law. Attorney Generals helps enforce these laws. I wish all of these plantiffs the best of luck. When these companies quit breaking the law maybe they will go down for good. The law is on the consumers side. KYSIDE38

Folks PLease go to the PA Attorney Generals website and search payday loans. You will see a press release there that date backs to 2005. Even then the AG cracked down on the internet lenders. They have to abide by PA law. I dont think the Attorney Generals website is wrong. KYSIDE38

Yes, they've sued Advance America for getting around their "no physical location in PA" ban when they tried to offer "lines of credit" that you paid a "monthly participation fee" for. That suit is still pending.

They also sued Ace Cash, who marketed a "instant cash rebate". You would sign up for membership, recieve your rebate, and get charged a daily participation fee. Ace agreed to no wrongdoing but refunded the money to all that complained.

Each company that the PA AG has sued has done something to try to get around the laws by marketing their products as something other then payday loans. These companies all disguised their loans in an attempt to trick consumers into them.

Goudah, I think thats all they do is try to skirt the law. I guess they just couldnt turn a profit if they followed the law. Its a shame they prey on people like they do. Hopefully more states will follow suit and try to get something done. KYSIDE38

Yep! Now that a handful of states are starting to really crack down, hopefully the others will follow suit!

I think that when you complain to the AG's office it is a good idea to have all of the names that the pdls go under to cover all bases.

thanks so much for the info! how do i start filing the complaints?

Go to the PA AG website there should be a form there to print off and send in complaints. Best Wishes KYSIDE38

Haven't been on the boards much lately, but it's a great event anytime a PDL is sued!