PDL was legal at time of loan, but recent laws make them illegal in MN
Date: Mon, 04/20/2009 - 10:53
I applied for a loan with CityViewCash on 12/2/2008. I sent them a letter stating that since they are not licensed in MN, they are an illegal PDL and I will not be paying anymore than the principal, which I borrowed and have paid off with all the insane intereset charges.
They are stating that the loan was legal at the time I signed the contract so I have to pay. According to my research, MN laws changed in August 2008, months before I accepted the loan. So Do I have to pay the entire amount (including interest) or should I simply reply stating that MN laws were that a PDL must be licensed in MN.
thanks!
They are stating that the loan was legal at the time I signed the contract so I have to pay. According to my research, MN laws changed in August 2008, months before I accepted the loan. So Do I have to pay the entire amount (including interest) or should I simply reply stating that MN laws were that a PDL must be licensed in MN.
thanks!
They are illegal everywhere. They are on an indian reservation a
They are illegal everywhere. They are on an indian reservation and do not have any license in the US.
They are part of Red River and have a ton of different names and websites.
There reply is inaccurate. The laws changed, however as nohiogal
There reply is inaccurate. The laws changed, however as nohiogal stated they hold not vaild license to lend in your state. If you overpaid them I suggest you demand a "paid in full" confirmation.
thank you.
Thank you both! I will continue to reply with my letter stating that they are not licensed in MN and therefore I will be paying no more.
I have filed complaints with BBB and the MN AG.
