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Little Loan Shoppe

Date: Sun, 01/04/2009 - 18:20

Submitted by anonymous
on Sun, 01/04/2009 - 18:20

Posts: 202330 Credits: [Donate]

Total Replies: 7


Hello Everyone,

Does anyone know for sure if Little Loan Shoppe is a PDL? There website states it is an installment loan. I currently have a loan with them which I have definitely overpaid. Before I send out any letters regarding this company I just want to be sure. Any information is greatly appreciated. Thanks.


Thanks, Phoenix......I will definitely check the thread. I live in New Jersey. Just wanted clarification before I tried to contact them. :)


lrhall41

Submitted by on Mon, 01/05/2009 - 08:10

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Quote:


Quote:
Legal Status: Prohibited

Citation:
Consumer loan act applies but rates as agreed to by contract. N.J. Stat. Ann. tit. 17,???? 1 et seq. However, criminal law sets the usury cap at 30%. N.J. Stat. Ann. ???? 2C: 21-19. A check cashing licensee cannot cash or advance money on a postdated check. N.J. Stat. Ann. ???? 17:15A-47.

Small Loan Rate Cap
30% per year

Where to Complain, Get Information:
Regulator: New Jersey Department of Banking and Insurance
Address: 20 West State St. Trenton, NJ 08625
Phone: (609) 292-5360
Fax: (609) 292-5461
Regulatory Contact: Ludi Hughes, Assistant Commissioner
Regulator????????s Website
http://www.njdobi.org/


lrhall41

Submitted by dawnlango7 on Mon, 01/05/2009 - 09:31

( Posts: 1147 | Credits: )


No..they are not a PDL. I spoke to the Attorney General for Utah (where they are registered) and he suggested that I suck it up and pay what they are asking because the laws in Utah do not regulate them. They do not bend, but they will work with you. I was able to give them a schedule on my terms and they accepted it. Good luck.


lrhall41

Submitted by on Mon, 01/05/2009 - 13:39

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Thanks for the info. everyone. I have had 2 loans with them (1 previous for $350 and 1 current for $400). To date for a $750 loan I have repaid them $2,250. I could just kick myself for my stupidity. Still going to try for PIF and refund, it can't hurt.


lrhall41

Submitted by on Mon, 01/05/2009 - 17:13

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Hi Divaesque....I emailed Little Loan Shoppe today requesting PIF and overpayment refund....ALSO file complaints with Missouri Attorney General Office, Better Business Bureau and the Federal Trade Commision and copies them on my email. I am just hoping it gets some attention. I will let you know..good luck to you too!


lrhall41

Submitted by Kellz1017 on Mon, 01/05/2009 - 19:06

( Posts: 44 | Credits: )


For all who live in states where paydays are prohibited, please be advised that the state will not assist lenders in collecting monies from you. These companies must be registered and licensed by the state. Pay what is owed and that is it. Everyone please close you accounts and open new accounts after you finish paying off your payday loans. Companies have been known to continue debting funds from peoples accounts after they have been paid off. If you are flustrated, close your account now and pay payday loan providers with money orders.


lrhall41

Submitted by on Wed, 01/07/2009 - 12:42

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