pdl help in Tennessee...legal or illegal??
Date: Mon, 04/27/2009 - 13:48
I am in Tennessee.
Little Loan Shoppe - borrowed $300 - paid $545 so far in fees only
Getecash - borrowed $250 - paid $500 so far in fees
Outback Bucks - borrowed $400 - paid $120
Pack Management - borrowed $300 - paid $90
SDS Processing - Borrowed $300 - paid $90
Sandpoint Capital, LLC - borrowed $300 - no pymt made yet
US Fast Cash - borrowed $350 - all my payments have been returned by my back so far
Loan Shop Online - borrowed $500 - all my payment have been returned by my bank so far.
These are all online.
I am in Tennessee. From what I have read, TN allows the companies to only be licensed in their domiciled state to do business and do not have to be licensed in Tennessee at all.
Is this correct?
If they are licensed companies, how is the best way to get those loans taken care of?
Thanks bunches!!
I believe outback is Red River which does not have a license in
I believe outback is Red River which does not have a license in any US state.
It think little loan shoppe is MTE and also illegal.
I know it was hard to find any info on getecash. Their websire claims if you have complaints you can contact the Utah dept of Finance buit I did not find a license for them in Utah.
What does "MTE" mean? What about the other companies? I
What does "MTE" mean?
What about the other companies?
I have been reading the forums to try to find that information, but I wanted to be sure that the information is updated and accurate.
Thanks so much for the information posted her and these forums! It has relieved a ton of stress from me knowing that I can get these "pdl"s taken care of another way!!
MTE has man names they go under. They are on an Indian reservati
MTE has man names they go under. They are on an Indian reservation like Red River and do not have a license in any US state.
Little loan shop is licensed in Utah.
I am looking into the rest.
i still need help find out the license information for pdl c
I have found that the Little Loan Shoppe is license in Utah under LLS America
I still need the state license information for the following companies:
1.) GeteCash
2.) Pack Management
3.) SDS Processing
4.) Sandpoint Capital, LLC
5.) Loanshoponline - it is noted on the forums that they are licensed in Delware, but I have searched the "Delaware Office Of The State Bank Commissioner" and I can not find anywhere to search for license information.
Can someone please help me with this information?
thx!
I don't think any of those are licensed but without looking thro
I don't think any of those are licensed but without looking through all of the state databases it is hard to tell.
I see those names a lot and they lend to consumers in states where all PDLs are illegal.
If I were you I would consider them all illegal. If they can prove the have a legal license by telling you which state and the license number then you can make payment arrangements later.
Loanshoponline - Illegal Snadpoint - Illegal SDS processing -
Loanshoponline - Illegal
Snadpoint - Illegal
SDS processing - Illegal
The Little Loan Shoppe is licensed in Utah. However if your state law requires them to be licensed in your state they would be considered Illegal.
*FYI*
MTE = Multi-Tribal Enterprises. ILLEGAL
You can read about them here
dealing with "GeteCash"
Take a look at the string of emails that has been past back and forth together with "getecash". I am about to start checking the websites of the TN Atty General, BBB, and the Federal Trade Commission to start filing complaints on this company.
--------------------------------------------------------------------------------
From: xxxxx
Sent: Thursday, April 30, 2009 10:23 AM
To:xxxxx
Subject: Fwd: Payday Loan
Please review the attached email that was sent earlier this week.
Also, I need for you to provide me with a copy of the state license that your company operates under. I review my application and agreement and it does NOT include any information on your company.
I need to verify that you are licensed to do business in the state of Tennessee. If you are not license in any state, then I expect a refund of $250 from your company. I borrowed $250 and have paid your company $500. If you are not licensed to do business...you have overcharged me and I will be forced to file a formal complaint regarding your company to the BBB, TN Attorney General, and the Federal Trade Commission.
2/3/09 Deposit 250
2/13/09 Payment -90
2/27/09 Payment -90
3/13/09 Payment -90
3/27/09 Payment -90
4/10/09 Payment -90
4/10/09 Payment -50
Total Deposits $250.00
Total Payments-$500.00
Overpayment $250.00
----- Original Message -----
Sent: Thursday, April 30, 2009 2:01:29 PM GMT -06:00 US/Canada Central
Subject: RE: Payday Loan
You are entitled to pursue any action you choose. As for GetECash.com we will simply send the account to outside collections if payment is not received as agreed upon in your signed contract. Keep in mind if we send the account to outside collections it will accrue more fees and possible legal action. I fail to understand why you came to us for help in your time of need with no intention on abiding by the terms of the contract you agreed to. It simply escapes me. Please CALL to settle your account.
???Truth is the most valuable thing we have, so I try to conserve it???. ~Mark Twain
Best Wishes,
Collections Manager
GetECash
801-717-1550 ext.1017
--------------------------------------------------------------------------------
Sent: Thursday, April 30, 2009 1:45 PM
Subject: Re: Payday Loan
Please simply answer the question regarding your license. I simply need to know if you are a licensed company!!
The truth is that I have paid your company more that the amount deposited into my checking account.
If I receive no response regarding your license, then I will have to go forth filing my complaints with the BBB, Tennessee Attorney General, and the Federal Trade Commission.
----- Original Message -----
Sent: Thursday, April 30, 2009 3:54:54 PM GMT -06:00 US/Canada Central
Subject: RE: Payday Loan
When you take out a loan ANYWHERE there is interest so as long as you hold the principle of which you borrowed ($250) you pay an interest payment of $90 as described in your contract. If you wanted to pay it off in full then you would be required to pay the interest fee ($90) and the full principle of which you borrowed ($250). You decided to extend the loan by just paying ($90) which is your interest fee. Leaving the full principle ($250) still due. So because you did not schedule a full pay off on your scheduled payment date. As described in your contract it is assumed you wanted to extend the loan because you only paid the interest fee. So as of date you took out a loan on 2/3/09 for $250 you signed the contract saying you agree to the terms and conditions (HONSETY) and every two weeks you made an interest payment as agreed amounting to $450. You have made a $50 dollar payment leaving a principle balance of $200 remaining. Are you still following? It really helps to read the contract before you sign it. That way you can avoid these problems. We are a licensed company but that has nothing to do with the fact that you SIGNED a contract. So I will be forwarding this account to outside collections at the end of the business day (MST) if a payment is not scheduled. Again by doing this it will accrue more fees and affect your good credit and ultimately cost you more money. Again you are entitled to pursue any action you choose. I would recommend that you pay off your remaining balance as this will cost you the least amount of money and headache on your part. Please feel free to call 801-717-1550 to schedule a pay off.
Collections Manager
GetECash
----- Forwarded Message -----
Sent: Thursday, April 30, 2009 4:21:06 PM GMT -06:00 US/Canada Central
Subject: Re: Payday Loan
I read the contract; however my mistake was not checking to see if your company was licensed. If you are not licensed to do business; then the contract is null and void!!
I have simply asked for a copy your license. Could you atleast tell me the state of the license you hold?
They are quite snooty, aren't they. Let it go to outside coll
They are quite snooty, aren't they.
Let it go to outside collections and then send them a DV letter. They are full of it.
GeteCash advised that they are license in Utah and their license
GeteCash advised that they are license in Utah and their license is held under the name of "EASTBROOK LLC DBA ECASH". Since I am located in Tennessee, does that mean that "getecash" can charge me whatever they want since the laws in Utah are not very restrictive in Utah?
another question....the only company that is really bugging the
another question....the only company that is really bugging the "shxt" out of me is Outback Bucks...they have ignore my requests to NOT contact me at work. I have sent numerous emails asking for their license and they won't response. Finally I answered there call yeaterday from work (BIG MISTAKE...they just wanted to argue with me). They said they were licensed in Nevada, but I would have to send a written request for the license to an address in Montana.
How ridiculous is that??
I have sent emails to the other companies and I am not getting calls or any answers to the emails with mailing addresses to make payment. I am not even getting "snail Mail" from them.
They are not getting any money out of my frozen bank account.
Once I get caught up on my mortgage and other normal monthly bills, I was going to pay them the amount that I borrowed, but if they are not telling me where to send it or contacting me...what sould I do??