INternet Payday Loans in KY, NEED HELP

what you need to know before you decide to close bank account

hello, welcome :)
sadly the only way to deal with this is to secure your account. it seems as though none of these are legal (someone please correct me asap if i am wrong!!) and revoking the ACH will not work as they will simply go in under a different name.
Yes, the calls are bad but the only way to regain your freedom is to secure your account.

All internet loans are illegal in KY.

thanks for the clarification :) i just did not know for sure and did not want to say anything incorrect.

nohiogal is correct, KY does not recognize internet pay day loans as legal and collectable. You need to close your bank account and secure your money as bakerjonz posted. Also please click on the blue underline and read it. It is really good information about closing your account. I would recommend opening an account at another bank if you can. Once you have close your account, you want to make arrangements to pay back what you borrowed using money order. Many of them will not want to do that but under no circumstances do you give out your new account information. As for the phone calls or your credit...becuase KY does not recognize them as legal they will harrass you and call constantly but they can not legally do anything to you. If they do not want to work with you it is their loss. I am from KY too, if you have any questions, feel free to send me a private message, I had 11 internet and 6 storefront when I started. Just know that I have a difficult time getting on here on the weekends but I will get back to you.

Is payday one Illegal in ky?

Well yes and no - Payday one has started issuing loans to Kentucky residents as installment loans - not pay day loans - even though they do not tell you this up front. So if it is installment - then it is legal and you are obligated to pay. See if you can get them to settle on the principal only - they did that for me.

Payday one is illegal in KY too. They are legal in several states that are listed on their website, but KY is not one of those states. Also, Installment loans have a set payment date that is not based upon when you get paid. If your loan docs say your entire loan is due on your next payday, but you may rollover or refinance before it is due then it is a payday loan.

I sent out the letter two weeks ago to 4 IPDL's and I also live in KY. I still get calls and emails saying that I owe money even though 3 out of 4 owe me a refund. Payday One is a sneaky one, because they are legal in many other states they are very persistant about paying fees and setting up payment arrangements. They should stop giving loans to people in KY.

I just had the Kentucky Attorney General's office look over the contract with Pay Day One and they have said that the contract now reads that loans to Kentucky residents are based through their Think Cash branch and are in reality an installment loan.

Ok, I was wondering if I have to pay the few on line PDL's I have. I live in Kentucky. If on line loans are illegal in Kentucky, if I close my checking and take the appropriate measures so the PDL's can't get in, will I be in any trouble? Also, can the PDL's turn it over to a collection agency? I would greatly appreciate any help!!! Thank you, Jen

to puddles.if they originally gave you a pdl.then that's what is.they can't change the terminology to suite them.to the guest above me.yes internet pdl's are illegal,but we always advocate paying back what was borrowed.these places can send it to collections,but being as the pdl's are illegal.the collection agencies will be as well.they won't be able to collect on it legally.just an FYI.