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Paperday on-line loan, Rude and illegle? help please ...please

Date: Wed, 12/17/2008 - 09:37

Submitted by anonymous
on Wed, 12/17/2008 - 09:37

Posts: 202330 Credits: [Donate]

Total Replies: 6


hi, i aapplied a few years ago on-line in MA, for a paperday check loan. $500. i never recieved this nor any bills. i have gotten a number of calls from legal mediation and Hand P capital. they were both rude and said they would have the police at my house or place of buisness if i didnt pay. H&P is out of FL. i don't know what to do . they keep saying they are going to take further action, but they don't even know when it was deposited into my account so i could find out the truth. someone please help me...


no i did not recieve the loan, they said i did and they are saying i owe 1600. but i never received anything. sorry for the mix up anthonie8


lrhall41

Submitted by on Wed, 12/17/2008 - 10:38

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I would check your bank statements from that time frame and see if they deposited anything into your account. If they didn't I'd tell them that you looked at bank statments and that you did not find any deposites from them (send these certified, also then send c&d letters to the company calling)

Then check with the state of MA if they are licensed in your state.

. http://www.mass.gov/?pageID=pressreleases&agId=Eoca&prModName=ocapressrelease&prFile=06_05_30_lenders.xml


lrhall41

Submitted by beli2005 on Wed, 12/17/2008 - 10:47

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No, they aren't licensed to lend in MA.

Quote:

Massachusetts State Information

Legal Status: Prohibited

Citation:
Small loan act applies. Mass. Gen. Laws Ann. ch. 140 ???? 96 et seq.;209 Mass. Code Regs. ???? 26.01. Check cashers are specifically prohibited from making loans unless licensed under the small loan act. 209 Mass. Code Regs. ???? 45:14(8).

Small Loan Rate Cap
23% plus $20 administrative fee upon the granting of a loan

Where to Complain, Get Information:
Regulator: Massachusetts Division of Banks
Address: One South Station Boston MA 02110
Phone: (617) 956-1500
Fax: (617) 956-1599
Regulatory Contact: Kevin McNamara Supervisor


lrhall41

Submitted by Shazzers on Wed, 12/17/2008 - 11:05

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