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Internet payday loans

Date: Thu, 06/04/2009 - 17:41

Submitted by hardy335
on Thu, 06/04/2009 - 17:41

Posts: 32 Credits: [Donate]

Total Replies: 9


What help can I expect my NE Bank and Finance. Filed complaint forms today. Will they take forever to start working on them.


Slim to none, probably. Nebraska has taken some action against local lenders that violate the payday loan laws, but they aren't known for being real aggressive. They'll probably send out some form letters. Some lenders back off when those come; others ignore them.


lrhall41

Submitted by on Thu, 06/04/2009 - 19:17

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So should I next go to the Attorney General of Nebraska for legal action. Do you know what lenders will back off. Its not that I don't want to pay, just don't think I should pay all the fees. If they are illegal, does that mean I only owe the principal. Ameriloan and 500FastCash I have been paying since December 08


lrhall41

Submitted by hardy335 on Thu, 06/04/2009 - 19:50

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Those two won't back off for an AG. They're the same company and the owner pays off two Indian tribes to pretend they are the real lenders. When an AG comes sniffing the tribes claim sovereign immunity and so far the courts (at least in California and Colorado) have backed them up. Fortunately, all that means is the states can't punish the lender. It doesn't make their loan contracts valid and enforceable.


lrhall41

Submitted by on Thu, 06/04/2009 - 20:10

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Even if the loans aren't legal in your State, these bottom feeders more than likely will not leave you alone. Be prepared for telephone calls! RE the loan company "suing" you; is this loan company legal in your State? If not, they're probably just making empty threats. If you know they're illegal, try asking them to send you a letter on their company letterhead stating that in fact they ARE a legal loan company and you owe them a legitimate debt - see what they say to that.


lrhall41

Submitted by on Fri, 06/05/2009 - 07:56

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I have looked at the Nebraska Financial website - It doesn't say anything about payday loans being illegal - how can you tell if legal of illegal - I can't find them on a data base - I called 500FastCash - asked why I'm still paying on a $455 loan. She said because of svc charges - won't be paid off until October 08 - been paying since Dec 08. Please someone talk to me - I am so FRANTIC - Going to lose my shirt at this rate


lrhall41

Submitted by hardy335 on Fri, 06/05/2009 - 08:10

( Posts: 32 | Credits: )