Pay day loans in michigan

Wendy I am pretty sure that none of these pdl's are licensed to lend in Mi, I will post your laws first, then I am going to research these companies to see what I can come up with. :)

Quote:

I stand corrected, unfortunately Thinkcash is an installment type of loan which is backed by the bank of Delaware, they do not have to follow the pdl laws, your best bet is to focus on this loan and get it paid off, I am still researching the other lenders.

Thank you sooo much, you are a life safer!!
wendy

ameriloan Unlicensed/illegal (You are done with them, they are paid off!)
3531 P Street NW Miami, OK 74355
Phone 800-362-9090

little loan shoppe???
Nelson, Dee
1801 W Broadway
Suite 201
Spokane, WA 99201
us
+1.5093288600 Fax: +1.5092321108

The Little Loan Shoppe - America ???
90 West 500 South #2001
Bountiful, Utah 84010

I don't think The Loan Shop is licensed in Mi, one way you can be sure is to call the Michigan Office of Financial and Insurance Services at (877) 999-6442 and ask them, that's what I would do to be positive!

MTE
compliancedepartment(at)mtefs.com
Rio Resources/MTE Financial Services
147 Eubank Blvd NE
Albuquerque, NM 87123
Phone: 866-859-6129
Fax: 866-668-0535

I found some information on Centrunion , read about them at the link below!
http://www.debtconsolidationcare.com/paydayloan/deposit-made-1.html

I believe that Impactcash is a part of MTE which would make them illegal also, if I am wrong about that someone please correct me!

I hope the information below will help you. :)
[quote]You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.

What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/quote]

thank you so much now with the ameriloan you say illegal what do i do, call them and tell them, my first payment didnt go through so i had an overdraft besides plus an additional fee they took out of my acct because of this, but they did get another 60 out besides.
what about the mte anything i can do with them or are they legal and if they are legal what do i do with them help get out of it.
again thankyou

that is one thing i dont want to bother with is closing my acct i have other things coming and going, would you suggest it be ok just to do what i have to, to deal with this and go from there and if it continues then close, i want that as a last option.
ty
wendy

I don't think it's going to do you any good to try and reason with any of these illegal pdl's by telephone, I would keep my contact with them strictly in written form. It's very important that you place a block on your account because these companies are notorious for changing their names and continually debiting money from personal accounts. Due to the fact that these companies aren't licensed to lend you have to understand that once they have your account number they will stop at nothing to get to your money. I strongly advise you to either close out that account and open a new one, or place a hard debit block on it, there is just no other way to protect your money. :?

i contacted the mich office you suggested and those few were not licensed in mi, but she said if they are licensed in their state i may have to go by those regulations. Not sure whats going on, wish i could just pay them all off.
thanks
wendy

I have to ask it shows that ameriloan is not licensed in michigan so you say that i am done with them, now how does this work, what do i need to do.
thank you so much
wendy

I am in Michigan and I am about to get out this business. I am an executive for a national payday loan company. Our biggest customers, and best, are the social security folks...yes, grandma is living paycheck to paycheck, too. All of the companies that you listed ARE LEGITE. The other poster gave you wrong information.

With the one company, Check 'n Go, I know that they only hold your loan for 55 days and then send you to collections. They won't take you to court...so, you can cancel that one out. I would suggest paying off the companies that WILL take you to court.

First, these are all LEGITE companies. If anyone says different then they are given you wrong info.

I disagree with Hank Blake - because "no" they are not all "legite" rather you mean "legit" correct?...If they were all legit to lend - then the bigger question is are they licensed to lend in Michigan? Store fronts "yes". I know for a fact MTE - nope nada, ImpactCash - nope nada (they are part of MTE), ameriloan - nope nada - all 3 are illegal to lend in almost every state. So as you claim to be an executive - you should know this.

I have two payday loans-one from Everest Cash Advance and First America Credit. I'm not able to keep with the payments each payday. I've tried to work something out with them to no avail. How would I find out if these are illegal loans? I live in Michigan.