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New Here NEED HELP

Date: Sun, 09/21/2008 - 09:14

Submitted by anonymous
on Sun, 09/21/2008 - 09:14

Posts: 202330 Credits: [Donate]

Total Replies: 11


[font=Arial][/font][color=Black][/color][size=3][/size] :shock:

Hello ...

I have been reading the threads for the last several hours. I still have some questions regarding PDLs and such.

My very first question is this:

What do you mean when you say that a certain PDL (which all of ours are online) is unlicensed or illegal?

My other questions are regarding the codes concerning TN.

I understand that any loans we have will be bound by the laws in the state they are registered in..but I don't understand the following:
Under "loan terms" I need help understanding the math.
In the section marked, "Debt Limits" it states
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)

I think my husband took out more than 3 loans. How can he have more than what he is allowed by law?
or
Is it just that I misunderstand what is written?

He just got "payed" this past Friday...these loan companies left us with .37 cents in our checking account. :x ..and the money they took according to my husband will only be applied to interest and none to principal...we don't even have the money to put gas in the car to take the kids to school and him back and forth to work every day and there are no grocerys until the next check ... 2 weeks from 9-19.

(which would likely be taken except for he is going to stop the direct deposit of his checks first thing Monday [9-22] morning...)

All help is greatly appreciated.


Hello and welcome! First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank (Branch Manager) to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it!

Illegal lenders mean they are not licensed to lend, it varies from state to state. Some states, such as Tennessee allows Internet based payday loan companies to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in. Read THIS and it will give you a better understanding of what I mean.


lrhall41

Submitted by Shazzers on Sun, 09/21/2008 - 10:53

( Posts: 17344 | Credits: )


please provide the information shazzers requested.especially the names of the pdl's some or all may not be legal,even according to TN law.in regards to the guest i've noticed more and more of you coming on with no intent to help just cause trouble.so if i see another guest like this you will see.

please disregard the guest,there opinion is neither wanted or appreciated.

now if you could provide the names of your pdl's we can help you here.


lrhall41

Submitted by paulmergel on Sun, 09/21/2008 - 15:33

( Posts: 15514 | Credits: )


when a guest wants to hijack a thread like you two have done with the wonderful posts.that is when it gets that way.the OP still hasn't responded.i put it on you two.this isn't amateur night at the forum.want to make smart remarks.that is not welcome or wanted or appreciated.


lrhall41

Submitted by paulmergel on Mon, 09/22/2008 - 08:16

( Posts: 15514 | Credits: )