Are the pdl legal in PA?

Someone with more experience than I will be along shortly to advise you what the pdl laws are in your state. I do have one question that they will ask you, are these internet or store fronts?

ladybug

THEY ARE INTERNET

The Cashnet loan that you have....Is that CashnetUSA?

Here is some info to help you understand PA's laws (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Emails to and from PA Banking Dept

Hello,

I have a question about payday loans in Pennsylvania. Does the small loan rate cap of $9.50 per $100 per year discount or 24% per year apply to these loans? I took out a few on the internet and am trying to figure out how much I legally need to pay. For instance on a $200 loan would I be legally responsible for paying back only $248?

Thanks!

Response:

Dear Ms.:

The 9.5 discount and the 24 % simple interest refer to calculations that can be used by companies that are operating in Pennsylvania and are licensed under Pennsylvania????????s Consumer Discount Company Act. With a number of exceptions, a lender that is located inside of Pennsylvania and who does not have any special lending authority (i.e., a special license or charter) who is making smaller loans not secured by real estate can only charge interest at a rate of 6% simple.

A lender that does not have a physical presence in Pennsylvania but who has lending authority from some other state can generally charge the interest rate and finance charges allowed by that other state.

The Department may or may not be reviewing this policy and I would not count on this e-mail as an interpretive opinion before starting any lending or business operations.

James Keiser | Administrator Non-Depository Institutions

17 North Second Street, 13th Floor | Hbg PA 17101
Phone: 717.783.8242 | Fax: 717.787.8773
jkeiser(at)state.pa.us | www.banking.state.pa.us

What does this mean?

There are no storefronts in PA. They are illegal.

Internet lenders can lend legally to PA residents as long as they are licensed in another state. They would need to follow the laws of the state in which they are licensed.

IT IS CASH NET USA

Cash Net USA is legal and lending to PA residents under it's Nevada license.

WHAT I DO NOT UNDERSTAND IS HOW MUCH I WOULD LEGALY
HAVE TO PAYTHEM BACK

It would go by Nevada law.

You will find the Payday loan laws for Nevada here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

There is no limit to the amount they can charge you.

i have already talked to these people and they said that there is no repyment plan and that ihave to pay it off all at once. is this true. they were really rude

another question is where do i start, i intend to to pay these loans, i am just not sure what to do, because i cannot pay them off all at once.
i am desperate