Ameriloan Documents Can They Do This?
Date: Mon, 10/13/2008 - 15:41
Governing Law: By obtaining this loan and or renewal of this loan thereafter, both parties agree that this Note and your account shall be governed by all applicable federal laws and all laws of the jurisdiction in which the Lender is located, regardless of which state you may reside, and you consent to the exclusive exercise of regulatory and adjudicatory authority by the jurisdiction in which the Lender is located over all matters related to this Note and your account, forsaking any other jurisdiction which either party may claim by virtue of residency.
This is on their contract, I live in AZ does this make them legal because I signed the document?
The following is information I got off the AZ State Consumer Information Board. Which one actually applies? Their contract or State law?
Tracking down lenders can be hard to do. Online payday lenders may be located off-shore or provide so little information they are hard to locate. They typically claim to make loans under foreign laws or from states with little or no consumer protections. Although Internet payday lenders are subject to the state law where you get the loan, state regulators have a harder time enforcing state laws against virtual lenders than against store-fronts.
File complaints against Internet payday lenders with your state regulator, your state Attorney General, and the Federal Trade Commission. Regardless of where the Internet lender says it is located, it is subject to your state's credit regulations.
This is on their contract, I live in AZ does this make them legal because I signed the document?
The following is information I got off the AZ State Consumer Information Board. Which one actually applies? Their contract or State law?
Tracking down lenders can be hard to do. Online payday lenders may be located off-shore or provide so little information they are hard to locate. They typically claim to make loans under foreign laws or from states with little or no consumer protections. Although Internet payday lenders are subject to the state law where you get the loan, state regulators have a harder time enforcing state laws against virtual lenders than against store-fronts.
File complaints against Internet payday lenders with your state regulator, your state Attorney General, and the Federal Trade Commission. Regardless of where the Internet lender says it is located, it is subject to your state's credit regulations.
They all say that, it's not enforceable. Remember, they are len
They all say that, it's not enforceable. Remember, they are lending illegally!!
