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Arizona illegal lenders

Date: Mon, 04/13/2009 - 14:33

Submitted by anonymous
on Mon, 04/13/2009 - 14:33

Posts: 202330 Credits: [Donate]

Total Replies: 15




Really??? So if I understand correctly, I need to:
1. Contact the bank and stop all ACH with these lenders
2. Write them a letter
3. Ask for a refund on what I have paid in interest already?

Any advice would be greatly appreciated - Thank-you so much for the information - I'm feeling a little more hopeful about getting them off my back and out of my bank account!


lrhall41

Submitted by on Mon, 04/13/2009 - 20:23

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That pretty much sums it up. Make sure your account is secure. You may need to stop all ACH or close the account.

TogetherCash is Red River and they have MANY names. You can block the ACH but they will then debit under one of their other names.

So put the account on deposit only or close it.


lrhall41

Submitted by nohiogal on Tue, 04/14/2009 - 01:48

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I have several PDL's in AZ. I'm realizing many are illegal. I contacted Flash Loans about a $400 loan, that I have been renewing weekly for 1 year (paid about $2500). They $0.00 out my account the next day when I confronted them about illegal practice in AZ. I was shocked. Could I possibly have the same effect with others? Can I refused to pay paydaymax, zip 19, and other illegal lenders? They must be licensed, and some blatantly violate AZ laws

Ameriloan- Loan$400-Payoff owe $520
Cashnet USA- Loan $500-Payoff owe $580
Payday Max- Loan $900-payoff owe $711 (AZ max loan can be $500)
Paychecktoday- Loan $500- payoff owe $650
Acecashservices- Loan $300- payoff owe $390
Zip19-Loan $750- payoff owe $898 (AZ max loan can be $500
Cashcentral- Loan $500- payoff owe $520
Instantcashusa- Loan $400 -payoff owe $520
USFASTCASH- Loan $300- Payoff owe $195


lrhall41

Submitted by on Wed, 10/07/2009 - 13:46

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I have closed my bank account. I was going to go thru a debt consolidation, but am having 2nd thoughts. My thought was to respond to the illegal lenders with: A revocation of wage assignment, c and d letter. I was also going to send to each lender and state specifics.

For example: Ace cash services: You are not licensed in Arizona, and your loan fee/interest rates also violate Arizona state law allowances. I have already paid you 3 installments of $90 in illegal interest/fees equaling $270 for a loan of $300. Please provide in writing an address where I can send the $30 I owe for the balance of the principal I borrowed. I expect to receive this information within 30 days by USPS mail, or I will consider the debt cured.

Do I have a chance?


lrhall41

Submitted by on Wed, 10/07/2009 - 15:40

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I still need clarification Cash Central is a licensed mortgage company in AZ. They are not licensed as a payday loan. So, are they legal in AZ as a payday lender?

I still can not find cashnetusa on the state page at all. How do you know they are legal? I have looked at all the licensees on the AZ Department of Fianancial Institutions, and Cashnetusa is not listed as a business.

My loans are current until Friday 10/9. The phone calls will start soon.


lrhall41

Submitted by on Wed, 10/07/2009 - 20:06

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Quote:

Originally Posted by Anonymous
I still need clarification Cash Central is a licensed mortgage company in AZ. They are not licensed as a payday loan. So, are they legal in AZ as a payday lender?
I still can not find cashnetusa on the state page at all. How do you know they are legal? I have looked at all the licensees on the AZ Department of Fianancial Institutions, and Cashnetusa is not listed as a business.
My loans are current until Friday 10/9. The phone calls will start soon.


Take another look at your contract, they may have listed their self as an installment lender. Installment lenders do not abide by the payday loan laws and wouldn't be listed in the payday lender data base.


lrhall41

Submitted by Shazzers on Wed, 10/07/2009 - 20:34

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