Can someone tell me if these pdl's are legal in Florida please
Date: Sat, 10/11/2008 - 16:51
payday loan yes
united cash
500fastcash
cashnetusa
cashadvancenetwork
myquikloan
B.I.G
quickest-cash-advance
cashcentral
B & L Marketing
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welcome.first i can say none of these are licensed in FL.next if you could provie the following.
how much borrowed
how much paid back total including fees and rollovers
you see,these companies are illegal in your state,therefore you are only obligatedto pay the principle.anything debited goes toward these loans.please provide the info requested.we can and will help you here.
payday loan yes borrowed 350.00 pd 450 united cash borrowed 200
payday loan yes borrowed 350.00 pd 450
united cash borrowed 200.00 paid 240
500fastcash borrowed 200.00 paid 240.00
cashnetusa borrowed 300.00 paid 335.00
cashadvancenetwork borrowed 300.00 paid 990.00
myquikloan borrowed 400.00 paid 840.00
B.I.G borrowed 200.00 paid 150.00
quickest-cash-advance borrowed 300.00 paid 597.00
cashcentral borrowed 300.00 paid 308.28
B & L Marketing (now called Packs Mgmt)borrowed 300.00 paid 645.00
Florida requires Internet based pdl's to be licensed by your sta
Florida requires Internet based pdl's to be licensed by your state, however, there are some known to have payday loan companies acting as CSO's (Credit Service Organizations). This means they do not need to be licensed, and are generally 100% legal in what they charge.
Quote:
Florida State Information Legal Status: Legal Citation: Fl. Stat. Ann. ???? 560.401 et seq.; Rule 69V-560.901-912 Loan Terms: Maximum Loan Amount: $500 Loan Term: 7-31 days Maximum Finance Rate and Fees: 10% + verification fee 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: One Rollovers Permitted: None (cannot rollover) Cooling-off Period: 24 hours Repayment Plan: Yes Collection Limits: Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages Criminal Action: Prohibited Where to Complain, Get Information: Regulator: Florida Office of Financial Regulation Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399 Phone: (850) 410-9805 Fax: (850) 410-9748 |
Payday loan yes : Unlicensed/Illegal B.I.G: Unlicensed/Illegal
Payday loan yes : Unlicensed/Illegal
B.I.G: Unlicensed/Illegal
Cashnet USA - they are usually legal, and probably operating as a CSO, you will need to make payment arrangements with them to avoid a law suit.
United Cash Loans has the same address as USFastCash and I would venture to say 500FastCash is also the same company. USFC and 500FC have identical forms and they both have addresses in Miami, OK, I'm pretty sure they're both illegal/unlicensed, if not someone else can jump in here and correct me!
cashadvancenetwork: Illegal/Unlicensed, they are all part of MTE.
MyQuikLoan.com illegal/not licensed, they're located in BC I believe.
Cashcentral: I believe they're licensed, and possibly acting as a CSO, that could explain the high interest rate.
:?
B & L Marketing: I'm uncertain about this one but am leaning toward illegal/unlicensed, hopefully someone else will be able to provide some info about them.
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i forgot about cashnet usa.just for my reference,which other states have this dumb exception.i know texas does.so now florida is another.any others?i think it's a sham that ilegal pdl's get to hide behind this.
Sorry I must have missed those! ameriloan is unlicensed/illegal
Sorry I must have missed those!
ameriloan is unlicensed/illegal
mycashnow is unlicensed/illegal
ZipCash - I'm not certain about this one, but I think they are legal.
