PDL nightmare

Ameriloan, BIG, and United Cas Loans are ILLEGAL. Pay Day loan Yes should allow you to work out some sort of payment arrangment.

Read THIS for information concerning closing your account.

Thanks for the info. I talked to the bank and they put the hold on there and are aware of what's going on. The account isn't closed and does have $3 in it but they can't access it. I just wish i wouldn't have been so stupid. I was reading something and It talked about theese internet companies being illegal in some states unless they liscensed in that state. Is there a way to find out if any of theese places are liscensed in the state of Missouri

Quote:

Here is the Link to your state laws.

Payday Ave is illegal they are based in Canada.

I checked with the Missouri Department of Financial instituions and none of theese companies are licensed in Missouri can they still come after me or should I really look into the bankruptcy option?

Bankruptcy is pretty drastic :(

I don't know the rest of your financial situation, but I agree with anyaroberts on the bankruptcy issue.

Read some postings on this website. If all of your lenders are illegal and your bank account is closed, I think the worst thing that can happen is that they will call/harass you and threaten to sue/throw you in jail, etc., even though they know full well that they can't. My understanding is that you only owe the illegal companies the amount that you borrowed, nothing more. If you have already paid that amount, you owe them nothing else. And you have the right to ask for a refund of what you've overpaid. Not sure if you'll get it, but you can ask (example: you've overpaid Payday Avenue by $600). On the opening page of this forum, there's a link describing how to deal with illegal lenders. Yes, they will probably call and try to scare you, but don't fall for it. If the Missouri Dept. of FI has already told you that they are not licensed to lend to you, you can file a complaint against the illegal companies. Let the companies know that. The best thing to do is scroll through as many postings on this forum as you can and you will learn A TON of information that will help you. I don't know what I would have done without this website. Thanks to the advice/knowlegde of other members, I am finally breaking free from my PDLs, and I was in the same situation as you described, although a few of my PDLs were legal. Good luck, please keep everyone posted.

Exactly, don't let an ILLEGAL lender drive you to bankruptcy. Reason is you can always pay them on your terms if they are unwilling to cooperate. They will get their money, but do not let them put you in financial hardship over it :wink:

I'm just afraid I have a new baby and I don't want to take any chances with these scumm bags. is there a way to find out exactly which of these companies are illegal or not and the addresses for them?

And filing bankruptcy will not purge the illegal lenders that are not in the US. They will not follow the no contact law and they won't get discharged since they are illegal.

Here is the list to the licensed payday lenders in MO.

thanks for the info. i don't see any of the internet lenders I used listed on there do you know if any of them are operating under a different name. I have loans with;

Payday Avenue ( i know you said illegal)
Avantis
Ameriloan (illegal)
Pay Day loan Yes
High County PDL aka: Pay Day loan Center
Speedy Cash
BIG (illegal
United Cash loans (illegal)

I am not too sure of all the d/b/a names. That is impossible to know. If they are not licensed against the list you checked. Then I would take steps in securing my account then sending each company proposals for repayment.

Agreed.

I have many of those addresses but they are on my work computer. If I get a chance I will fire up my laptop later and post them. You can also search in the search box for them by putting the name of the company and then the word address. That is how I found most of them.