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payday loans

Date: Fri, 12/26/2008 - 11:01

Submitted by anonymous
on Fri, 12/26/2008 - 11:01

Posts: 202330 Credits: [Donate]

Total Replies: 9


I have 5 payday loans in PA i can't afford to pay them any longer as I have lost my job and my husband has taken a huge pay cut to keep his job. could some one tell me if the loans i have are legal in Pa.
1.Cash transfer center borrowed 350.00 pd back 444.50 i keep having to re borrow to pay bills.
2.Greenlight Funding borrowed 350.00 pd fees of 270.00 still owe 350.00 + 90.00 fiance charge
3.MMG Holding borrowed 300.00 pd 270.00 finance charge still owe 300.00 + 90.00 finance charge.
4.JVC Funding 300.00 pd 270.00 financing charge still owe 300.00 + 90.00 finance charge.
5.Biggest cash payday 300.00 pd back 375.00 still owe 265.00. please help if you can


Pennsylvania allows an Internet based payday loan company 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. Your next step would be to find out what states your lenders are licensed in.

Quote:

Pennsylvania State Information

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions


lrhall41

Submitted by Shazzers on Fri, 12/26/2008 - 11:05

( Posts: 17344 | Credits: )


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 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!


lrhall41

Submitted by Shazzers on Fri, 12/26/2008 - 11:06

( Posts: 17344 | Credits: )


If you type in the name of the lender into the search box located in the upper right hand corner of this forum you can research these companies to see if and where they're licensed.

Cash transfer Center is illegal and based in Canada and Malta.
Cash Transfer Centers
Email: customercare(at)cashtransfercenters.com
Fax: 866-809-4069
Level 8 Suite 3
Plaza Commercial Center
Bisazza Street
Sliema SLM15, Malta


lrhall41

Submitted by Shazzers on Fri, 12/26/2008 - 11:08

( Posts: 17344 | Credits: )


Quote:

Originally Posted by kjsass
I have 5 payday loans in PA i can't afford to pay them any longer as I have lost my job and my husband has taken a huge pay cut to keep his job. could some one tell me if the loans i have are legal in Pa.
1.Cash transfer center borrowed 350.00 pd back 444.50 i keep having to re borrow to pay bills.
2.Greenlight Funding borrowed 350.00 pd fees of 270.00 still owe 350.00 + 90.00 fiance charge
3.MMG Holding borrowed 300.00 pd 270.00 finance charge still owe 300.00 + 90.00 finance charge.
4.JVC Funding 300.00 pd 270.00 financing charge still owe 300.00 + 90.00 finance charge.
5.Biggest cash payday 300.00 pd back 375.00 still owe 265.00. please help if you can


Is there a phone # for JVC Funding???


lrhall41

Submitted by on Fri, 09/11/2009 - 12:43

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