Is Cashnet Usa legal in Florida?

nutsie...that os great info you have there...I am sure many who have dealt with this company will be very pleased to read your post!!

I hope so. It is very confusing. All I can do is post this reply from Florida. Hope this helps someone.

Ill be waiting for it.

nutsie, can you ask Sandra if they are operating as a CSO? I think I remember goudah saying something about that maybe they could be. Can you ask Sandra & then post when she replies to you? This would be a huge relief, as morningstarr stated, to anyone in Florida reading this thread!

hi cannr,
yes I will do that. Just as soon as receive her reply, I will post it. Don't want to sound dumb, but, what does 'CSO' stand for??

nutsie1, I also live in the State of Florida and have defaulted on the IPDL. I also called Lee Dixion and she confirm this company is not license in the State and should file a complaint, which I have. How much was your loan and what have you written to cashnet usa regarding your loan. Let me know. Thanks

It was for $150.00. I had paid them $38.79. I told them that as far as I'm concerned, I owe them $111.21.
Here is the email to cashnetusa and here is their response:

Here is the Florida law.

Florida State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


I don't think she understands the law on payday loans, do you??

CSO means Credit Service Organization. Pretty much, Cash Net USA is not the lender for loans in Florida. They are just a broker. They would not need to be licensed then, only registered. It's a totally unregulated industry.

Federal courts have found that fees paid to a CSO cannot be considered interest. So they can legally get around the payday loan laws by acting as a CSO.

How come they are the name listed as being the one who is taking the money from my checking account??
Weird, :shock:
nutsie1

Because they service the loan for the "lender". They pretty much do everything, but they are not the actual lender.

It's total crap, in my opinion. They are piggybacking on laws that are meant to help the consumer improve their credit.

ok, I will let you know what I find out.
Thanks, I LOVE your picture !!
nutsie

Thank you! That's my baby . . . :D

cute !!! Ineed to upload mine !!

You should! :D If you need help doing it let me know . . .

I tried to upload a pic, but it didn't work!! what did I do wrong??

What did it say? Did it say the pic was too big?

it said nothing.... just kept taking me back to the 'edit info page'

Hmm . . . That is strange. At the top of the page there wasn't anything? Normally when it takes you back to the edit info page there is an error message at the very top.

let me try again. Thanks goudah... I'll let you know if it works or not.
Nutsie1

yea, it came back and said the pic can be no larger that 28kb. any suggestions??

nutsie, pm Mike. He will help you with it.
goudah, does the response received from CashNetUSA stating that 4 rollovers are allowed and that they will not be contacting Florida because there is no need to because they are acting as a CSO? Is that pretty much what their response is saying - without exactly saying that? I'm thinking this because they're quoting the pdl law, not Florida law. To me (and of course I could be wrong) they're acting as a CSO and know it and know they are getting away with it. Am I reading this right?

Yeah, that is how I read it. Since they are acting as a CSO the pdl laws don't apply to them.

Nutsie - If you are on a PC this is how you would resize the pic.

1. Go to Start - All Programs - Accesories - Paint

2. Open your picture

3. Go to Image - Stretch/Skew. Next to the stretch box change the numbers to 75 for both horizontal and vertical. Hit Okay.

4. Save it.

5. Go to Image - Attributes. It will show the siz in bytes. 1000 bytes is 1 kb. If you select pixels, it will show you the picture size. It must be no more then 135 pixels wide and 100 pixels high.

6. If the picture still can't be uploaded here, just keep repeating the steps until the size is small enough.

here is the letter that I got from them:

Quote:

it doesn't say anything about them acting as a CSO????

They are saying they are acting within the laws of Florida. The CSO stuff would be in your contract.

Also see this thread:

http://www.debtconsolidationcare.com/paydayloan/cashnetusa-licensed.html

It's got some more stuff about the CSO laws in Florida.

Yes, I read them. I wonder why they will not send me they copy of my loan papers and their audit number? Is it a case of , "na na na na na, don't pay and I get you in the end"??

This is my baby, she is a manx. such a sweetie. Thanks goudah for helping me the other day

nutsie! I love your avatar! You are cool now, my friend!! :D

thank you cannr ;-)

Aww . . . . How cute! Glad I could help!

The laws being posted from the site paydayloaninfo.org are incorrect. They apply to Storefront Lenders in Florida. The State of Florida is using the Florida Financial act which applys to any "lender" in Florida. It has an 18% cap , not 10% and it also states that if the lender is not licensed here the loan is not collectable. It does not apply to CSOs that charge a fee. As always I urge all Florida residents to write to our CFO, Ms. Alex Sink, to have this CSO scam broght to a halt. You can email her @ CFO(at)FLDFS.COM The key here is where is the lender for Cash Net really located and are they licensed here? You will never be able to find that out but the FLDFS can.

frog, is there somewhere that we can locate these laws? I hate the fact that the Florida law we are posting is not accurate.

To be honest - Paydayloaninfo.org should be used as a starting point. There are often misleading items listed there. Plus it doesn't differentiate between internet, storefronts, CSO's, etc. Different laws can apply.

What I do is go to the site, see what laws they cite, then find that state governments website and look at the laws myself, then ask any questions to that state.

Thanks, goudah! The Research Queen! We love you! :D