Should a close my bank account
Date: Tue, 07/03/2007 - 10:07
What does all this mean? How do I determine what I have paid back? Does the interest payment count for what I have paid back as far as overpaying them?
The laws in your state are very difficult to interpret. That is
The laws in your state are very difficult to interpret. That is probably why so many PDLs make their home their. Hopefully someone with experience in Nevada law will come along to help you.
It would be the ipdls responsiblity to prove criminal intent, an
It would be the ipdls responsiblity to prove criminal intent, and they are the ones who are operating illegally and charging illegal fees. You should contact the department that deals with this business and get their input, I know in OH, it is the LICENSED storefronts responsiblity to prove criminal intent, (ie: going to several payday stores taking out loans and then closing the account before they are due, and not paying back the loan would be one way to prove criminal intent, the person took out the cash advances and turns around and closes the account before the due date, that would be criminal intent in my book.)
It looks like the laws are in favor of the lenders doing busines
It looks like the laws are in favor of the lenders doing business in NV. Good thing is that you should be able to set up a repayment plan with the companies. Calculate the outstanding balance and then you need to give a call to each IPDL company and work out arrangements. Make sure they are listed with the DFI of your state.
Definately check out if the one's who are located in New Mexico
Definately check out if the one's who are located in New Mexico or Nevada hold a license in those states. Don't be surprised to learn that they don't, I found out that Cash Supply was not licensed in New Mexico where they were located. There are several out there like that, no license in any state.
Go to this link, and click on each state to get the licensee loo
Go to this link, and click on each state to get the licensee look up data base and enter the company's name. If they have a license it will show. I actually did that and I followed up with phone calls. It was during a phone call to somebody in New Mexico's Attorney General's office who was checking to verify a company, she did this while on the phone with me, and found out the company which was located in their state was not even licensed to be in business. And if they are licensed, they would be all too willing to share that number with you, when they don't, that is when you should become highly suspicious.
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html