Contract Law

No, because these places are breaking the law. Illegal contracts are considered null and void by courts.

Goudah is correct.Just about every court has ruled an illegal contract is null and void.That is why they threaten the world and don't go to court.

How often do these ipdls turn you over to collection agencies or garnish wages...??

They almost always turn you over to some type of collection agency.If you revoke your banking and employment assignment,they cannot garnish without a court order.If they are illegal in your state,they will not go to court.

ok...at the top of the Indiana Law for pdls...it says legal...is that just if they comply with the interest laws..because none of them are licensed. Darn..I wonder how much it would cost to hire a lawyer to explain it to me ..

You would have to go to Indiana's dept of Financial Institutions license database.You then check each individual lender name against their list.

Cajun is right..They ain't going to court. I have never ever seen an internet PDL sue anyone, ever

I think what you;re seeing simply means that PDLS are legal in the state of Indiana. However, they must each be licensed, and I'm willing to be none of them are.

That would COST money, hey, they only steal money!

Thanks...to Cajun, Cannr, Fins and Goodah...I think I just need a few days to recoup and stop thinking about them...then maybe I will feel stronger...:)

I did look up each one under every dba I could find and none of them are listed in licensed lenders.

morningstarr, you will not find them as licensed in your state. Internet pdl's are illegal. They can not be licensed in your state. I don't care what your neighbors friend says. These are internet pdl's. They are located in another state, not your state. The pdl laws everyone refers to when refering to your state are the laws for licensed pdl's (store fronts). Yes, these are legal. They abide by your state laws. The internet pdl's are NOT. They are not legal in your state, they are not licensed in your state. They are not even located in your state. Don't freak. And listen to these people. They're not going to sue you or take you to court. They can't. They're illegal. And if they turn you over to collections, have your documentation ready. They're going to collect on an illegal loan??? These ipdl's should not even be lending to residents of your state. That's the biggest point of all. They are in the wrong. Not you. They should never have lended the money, as they are not licensed in your state. The broke the law.