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payday loan threats

Date: Fri, 06/12/2009 - 11:39

Submitted by BobbyMac1916
on Fri, 06/12/2009 - 11:39

Posts: 3 Credits: [Donate]

Total Replies: 6


I received a call this morning from a guy who appeared to be from India, saying the police would be at my home to arrest me from defaulting on internet payday loans...I am in Philadelphia PA, and while I'm pretty sure the police part is not valid, I do want to get caught up on these debts or at least try to make a reasonable payment plan....does anyone have any advice on this? Also how can I find out which of the lenders I owe is legal to lend in PA?


Hang on, someone will be along to help out; in the meantime you might want to check out the "stickies" at the beginning of this forum, you might find some information on what's legal or illegal in PA. Did the guy who called mention any names, the name of the PDL, the name of his agency, etc?


lrhall41

Submitted by on Fri, 06/12/2009 - 11:42

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Hi there, I don't think any legit company would violate the FDCP by making ridiculous threats, therefore I would venture to say the companies in question aren't licensed to lend. PA payday lender laws are at the link below.
http://www.paydayloaninfo.org/state_detail.cfm?id=PA

PA is a loophole state which means they allow an internet based payday loan company to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in.


lrhall41

Submitted by Shazzers on Fri, 06/12/2009 - 12:04

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shazz,as of FEB this year that loophole is no more.if they got the loan after FEB it is illegal all around.


lrhall41

Submitted by paulmergel on Fri, 06/12/2009 - 12:08

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