Ohio website

Just saw on the late news this bill is being voted on tomorrow and I only caught the tale end of the story, but it was saying something about CheckSmart and stop issuing loans this evening, but like I say I only heard the tale end, so I'm not sure what's happening, did anyone else in OHIO hear this?

I'm more than a bit offended by PDL supporters saying that if you get in trouble w/ PDL's, you're "irresponsible;" much of the time it's called "- - - - happens!" Say you have a PDL with all intentions of paying it back in full in the allotted time period - in the meantime you have a medical emergency and all of your cash on hand and maybe your next paycheck has to go to cover the emergency, so you extend the PDL. Now, in addition to your regular expenses, you also have the extension fee on the PDL; maybe you take another one out to help pay expenses, and so on... If PDL's are all on the up-and-up, why do so many of their parent companies operate overseas or on Indian reservations in this country so they don't have to abide by State/Federal laws? If they're truly trying to help people, why such horrific interest rates? When people get in trouble and offer to work out payback plans w/ PDL's, why do so many PDL's give these people a hard time rather than try to work with them? "PDL's help people?" Puh-leeze.

i noted on one of goudah's posts.even if you pay in a timely manner they can't wait to get you to re-loan.whats up with that?

Shoot, I defualted on nine, five of which I now have pif's from and three of those send me regualr emails offering me a loan since I have been such a great customer. 8)

RoxyNY, I received those generous offers after I closed out my bank accounts, too; you don't suppose that - gasp! - they wanted to get my new bank account information, do you? Naaah, not our friendly PDLs! :D

I'm really anticipating the outcome !

i just sent a nice email to the legislator....stating how the $900 in PDLs I took out in January have cost me $2500. Why would I not support them....hmmmmm. I wonder?

I heard from my uncle who went to a pdl place the other day (US Cash) that the staff there told him they were going to be closing down in June because of this new bill.

"Sassnlucy," I guess if these people have to close down, then they'll have to go out and get PDL's to cover their expenses, now won't they? I don't wish bad luck on anyone, but there IS an old saying "what goes around comes around..."

I've seen this coming in ohio for a while, and have been doing my best to pay down my loans (4). The Ohio senate votes today and My bigest fear is that it will pass. And all 4 PDL offices will want their money now. Does anyone know if there is any kind of exit strategy attached to this bill?

I just received an email from the Columbus Dispatch that had an article on the bill. The Senate committee approved the bill. One of the girls I work with knows someone that works at Checksmart and she was told she would be out of a job in the next 90 days.

WOW !! :D I think I will wait until it's officially announced before I have a BIG party !!

Wahoo!! Here it is, party at my house guys !!
http://www.dispatchpolitics.com/live/content/local_news/stories/2008/05/14/payday.html?adsec=politics&sid=101

did it pass shazzers????? "crossing fingers"

Any idea what to expect regarding the 4 Ohio storefront loans I have? Will they allow me to make payments or will they just lock their doors and start depositing my checks?

Check into cash
Advance America
American Payroll Advance
Cashland

i tried to google that info LaLa...i couldnt come up with anything. i will keep lookin though.

Thanks Toledo Guy.

I called a couple of them up (did not identify myself) here is the scoop they gave me:

I talked to cashland and they say they will continue to loan for a couple more months. They are looking into "Broker Loans" and some other type of income based loan product. They may start up a pawn shop also.

I called Check into cash (they will not loan to new customers). They were wishy washy about loaning to existing customers.

It passed, I posted the article in the payday loan news forum. La la, I am sure there will be some type of time frame before this law goes into effect.

That is what I am trying to find out as well. I have them with:

Express Payroll Advance (Checksmart owned)
Cashland
National Check Cashers

i dont use them but whats next take our guns away[color=Red][/color]

YESSSS it passed!!!! Shazzers I have a question. I read the article and it said it will ban internet payday loans. I thought they were already illegal. I wonder if this will help with the cases that I have now. I still have nothing from the AG office and it has been three weeks. I contacted my rep and she said no news yet.

Guest....personally I would not mine the guns going away too. That is just my opinion.

This is great news! Shazz. . . has the party started yet?

Shazz, in the article, at the very end it says "Strickland has said he supports the bill, which must still get final House concurrence. What does final "House concurrence" mean?

I haven't seen anymore pdl or heard any more pdl commercial for awhile now in Ohio anyone else seen any lately? I do now see ads for cash call. It cracks me up at the end it says make sure that you have the money to pay this back.

Imale
Quote:

shazzers...I think I am confused. Are you saying you think that internet pdls were legal in ohio? From what I understood they were illegal. Maybe I am not understanding what you are saying.

Imale, Internet pdl's are/were legal in Ohio as long as they were licensed and followed the laws of the state of Ohio, ei., the interest rates/fees.

Now I am totally confused. I have been told this whole time they were illegal in Ohio. I don't ever remember seeing that they had to be licensed in Ohio to be legal. I have checked my other posts and I have been told they were illegal. As far as I know though none of the internets pdls are licensed here but like I said I thought it did not matter. Is this a standard that they have to be licensed in the the state you live in?

As far as I know, they don't have to be licensed IN Ohio, just licensed, but they MUST follow the laws of Ohio, ei., interest rate/fees, etc.

Mandy:


Mandy, if I remember correctly (I could be wrong! lol) the pdl's you had in particular weren't licensed anywhere. Am I remembering that right? Perhaps you assumed we meant they weren't legal in Ohio. Hey, I could be totally wrong here, but I am certain IPDL's can lend in Ohio as long as they have a license SOMEwhere, they just have to follow Ohio's pdl laws.

BTW, does anyone know when the final vote will be? I've looked everywhere on line and can't find any info?

Well I heard on tne news yesterday that the bill passed the house and is now in the govenors office for his signature. They are reporting that Cashland will be closing as well as Check into Cash. WOO !!!! Having been in payday loan hell for about 8 years and after having finally dug myself out I couldn't be happier.

Well I heard on tne news yesterday that the bill passed the house and is now in the govenors office for his signature. They are reporting that Cashland will be closing as well as Check into Cash. WOO !!!! Having been in payday loan hell for about 8 years and after having finally dug myself out I couldn't be happier.

I don't suppose it would be very nice for anyone to visit the website which supports PDLs in Ohio and post "Neener, Neener, Neener," would it? :D

Shazzers....I have looked back at my post and I don't see anywhere that it stated that if they were legal in any other state they were legal in Ohio. It just stated they were illegal in Ohio. Maybe I read that wrong (which could be the case LOL!!!) or it was assumed I understood that but I did not. I don't think that any of my loans have licensed in other states. Can we recheck to make sure?

ameriloan
United Cash loans
ezloansbynet
3bpaydayloans
little loan shop
Loan shop
Magnum Z
Mw Marketing/Edollars

MJ, as far as I can remember in Ohio the pdl has to be licensed in OH to lend in OH so if none of those are licensed in OH youare good to go...

MJ, Here is your original thread to refer to... I know you have changed your screen name due to loggin in issues, I just searched MJM to find it...None of your pdls were licensed when I went back throught to read.

http://www.debtconsolidationcare.com/paydayloan/about42924.html

There is no doubt that internet pdl's have to be licensed by the state of Ohio in order to do business here. I have verified this with the attorney general's office.

Ok I guess I miss understood. I have looked at my old posts and did not see anywhere saying they would be legal licensed somewhere. Like I said maybe I should have assumed that but I did not. I thought they were illegal no matter what. I was pretty sure all of mine were illegal but wanted to check once again.

Thanks for you help and clearing things up for me Shazzers.

Guest....are you working with someone in the AG office? If so who and have you gotten anywhere with them at all?

The only problem with closing down the regulated store fronts is that people still need money and more will go online. To me, thats scarier than the storefronts, at least they are regulated by the state and audited annually. I am glad I am finally done with all of them but I really feel the worst is yet to come for a lot of people.

I just feel like the bottom line is that people need to learn to live within their means. I have learned to live within my means and have even saved money. What people really need is financial eduation and budgeting smarts. Paydays loans help no one. I truly believe it has hurt more than it has helped. And I agree with bmblbe69 that internet payday loans seem worse and that is the bad thing about the storefronts closing. I fear people will turn to the internet ones when they have no other choice.

I think with the new law on-line PDL will be illegal also...

lmale, they are illegal now in a lot of places and people are still getting them. It's only because we found this great site that we even know they were illegal. I don't know what the answer is, I too wish they would all go away, but the store fronts are the lesser of 2 evils. You don't see too many stories on here that deal strictly with storefronts, there are almost always online PDL's involved and I think because they keep charging interest that never goes towards the principle the customers have to default on everyone.