Going to try and do myself....please help
Date: Tue, 09/16/2008 - 06:25
Live in MN, all internet loans
ameriloan borrowed 350 have paid 1040
BIG borroed 200 have paid 730
One Click borrowed 350 have paid 730
Loan Shop borrowed 300 paid 180
Cash Net borrowed 400 paid 200
Magnum borroed 649 paid 269
Payday one borrowed 500 paid 812
Discount Advances borrowed 250 paid 134
One Step borrowed 200 paid 570
Wow, how awful. I have done the first step by closing my account. What next?
Thank you in advance
reply
welcome to the forum,i can tell you the top three are illegal and owe you a refund.i doubt you will get one but push for it.i also know that these places will call your work.especially BIG.don't worry.they are in the UK and can't do anything but call.AMERILOAN and ONECLICKCASH are MNE and illegal as well.
i don't know about the others.good job closing your account.that way you have control of your money again.welcome to the forum,someone should be along to advise about the others,but the top three are illegal and owe you money.do not let them tell you otherwise.
awesome, thank you. I had heard that they may be illegal.
awesome, thank you. I had heard that they may be illegal.
Have you started getting your letters together yet? I would say
Have you started getting your letters together yet? I would say that is your next move, here are the laws for your state, check the licensee website to see if any have licenses to loan....
Legal Status: Legal
Citation:
Minn. Stat. ???? 47.60 et seq.
Loan Terms:
Maximum Loan Amount: $350
Loan Term: Max: 30 days
Maximum Finance Rate and Fees: $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month)
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot repay with proceeds of another loan by same lender)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $30 NSF fee
Criminal Action:
Where to Complain, Get Information:
Regulator: Minnesota Department of Commerce
Address: Division of Financial Examinations, 85 7th Place East, Suite 500 St. Paul MN 55101
Phone: (651) 296-2135
Fax: (651) 296-8591
Regulatory Contact: Kevin Murphy,, Deputy Commissioner
commerce.state.mn.us/FSLicensees/il.html that is the website
commerce.state.mn.us/FSLicensees/il.html
that is the website you should go to to get information on your state