Need help with several PDL's in MN
Date: Fri, 07/17/2009 - 15:34
I've been browsing this site for couple of days and there appears to be a lot of great info. Here is my situation, I have the following loans:
-Sparkloans: Original Loan Amt: $450, Fees: $101.25, Paid To Date: $405, Scheduled to Pay: $551.25 on Jul 31st <-PIF
-LoanShop: Original Loan Amt: $300, Fees: $90, Paid To Date: $90, Scheduled to Pay: $450 by Aug 14th <-PIF
-SolomonFinance: Original Loan Amt: $300, Fees: $90, Paid To Date: $90, Scheduled to Pay: $570 by Aug 28th <-PIF
-National Payday Loans: Original Loan Amt: $300, Fees: $90, Paid To Date: $180, Scheduled to Pay: $390 on Jul 31st <-PIF
-Clearwater Bay Marketing: Original Loan Amt: $300, Fees: $90, Paid To Date: $450, Scheduled to Pay: $260 on Jul 31st <-PIF
-B&L Services: Original Loan Amt: $200, Fees: $60, Paid To Date: $360, Scheduled to Pay: $260 on Jul 31st <-PIF
-CashNetUSA: Original Loan Amt: $650, Fees: $90, Paid To Date: $673.19, Scheduled to Pay: $398.66 on Jul 31st <-PIF
Help!!!!
Lenders have to be licensed in Minnesota. http://www.commerc
Lenders have to be licensed in Minnesota.
http://www.commerce.state.mn.us/FSLicensees/il.html
You may need to call and ask. If they are not legal, you only need to pay the amount you borrowed back.
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
SOAPLADY, thank you for your response. Last night, I sent out
SOAPLADY, thank you for your response.
Last night, I sent out ACH revocation letters, based on the template on in the forum, to the following:
-CashNetUSA
-SparkLoans
-B&L Services
-Clearwater Bay Marketing
Based on information I've read here, the only lender that makes me nervous is CashNetUSA. I've read bad stuff about their tactics.
That said, I've had several loans with them, have always paid, and never been late. To date this year, I've had $3600 in loans from them and paid out $5256.57 in principle and fees.
So, hopefully they will respond in a positive way...
I hope that you closed your account/secured your money before yo
I hope that you closed your account/secured your money before you sent out the letters last night. That is the first step.
I am pretty sure CashNetUsa is going to be legal-so just make arrangement with them to pay off the balance you owe if your not able to do the PIF on July 31 like scheduled.
Yes! Please say your closed or froze your bank account before s
Yes! Please say your closed or froze your bank account before sending out the ach revocation letters!
If not, go to your bank immediately and give them a copy of the ach revocation letters, and put a block on your account or close it (read your state laws first per closing account)
Yes, I did place a hold on my account and opened a new account.
Yes, I did place a hold on my account and opened a new account. My bank told me that the hold would prevent any and all transactions from posting. That said, I got a response from CashNetUSA:
"Cashentusa is an internet based company, as such; we are able to provide services in certain states as long as we are licensed. With the state of Minnesota, we are able to use our Nevada License to provide service to customers. As stated on your contract, first paragraph. With this contract the same rules and fees apply for both states. The fees, available extensions, and maximum approval amount applies the same for both Nevada and Minnesota."
Is that accurate?
Dont think so....they have to be licensed in Minnesota and follo
Dont think so....they have to be licensed in Minnesota and follow minnesota rules. Call the dept of commerce phone number above.