Why can't illegal PDLs be stopped.

That is why they are illegal...they are operating outside the law. And consumers are dumb enough to borrow from them and to believe their BS.

I am one of those consumers but DONT LIKE TO BE CALLED DUMB. So, what would happen if you and I did something illegal. We would get arrested, fined, jailed, etc. So where is the law when it comes to this stuff. Are lawyers, judges, banks, all bought at a price to allow this to happen. Can't Congress even stop this mess.

As you said, many of these outfits ARE outside the US and it would be extremely difficult for the US government to stop them or to block them from using the internet to offer their loans. These loans ARE prohibited in certain states and when you see PDLs' offered, for instance, in magazines, you can see in itty-bitty print "void where prohibited by law." PDL's are gradually being put out of business here in the US (the storefronts, I mean). For the storefronts that have NOT been put out of business, I also believe more regulation is required. But of course the PDLs have a big lobby in this country so they'll fight just as hard to keep in business without a lot of Federal regulation. No easy answers, I'm afraid.

The problem is that there is a demand for the product and people jump at the opportunity to get the money without thinking about who they are giving thier personal information to.

Due to the demand, there will always be people that offer the service. Todays world provide for anonymity via the internet and based on that, it has grown to a worldwide product. There is not enough money in the political coffers to fight the illegal lenders, so the elected official and opponents of the industry keep eliminating the licensed, legal lenders. All of these "ground breaking" regulation changes have done absolutly nothing to "fix" the industry. In fact, it has only managed to play into the hands of the internet!! In every state that has managed to eliminate the store fronts, the profits of the illegal, internet lenders and sky rocketed becuase the law change did not eliminate the demand overnight. All that it did was to reduce the number of reported loans (publicized results) while increasing the number of unreported loans (non-publicized results.

If the legislator's and opponents of the industry really want to help the consumer, then they need to create laws/regulations that allow the licensed lenders to operate in a profitable fashion. By creating this climate, the govt. has the ability to license, regulate and audit PDL companies. By simply eliminating the industry, they have left the consumer "out to dry". They will not help because they do not know where to find the internet lenders and when they do find them, they have no "oversight" of the industry. Many will say, " but the loans are illegal". Yeah, but where is money going to come from to investigate and prosecute the offenders?

Could I make alot more money by closing my storefronts and channeling all of my money to the internet model? You betcha!! The problem is that I would rather do this the right way and comply with the regulations of the states in which I operate.

all good points raised (except i also disagree that people caught up in payday loans are dumb, perhaps careless, but most people had good intentions to pay back when they took the loans out).
pdl owner, i do respect you for following the laws.

Dumb or stupid is a relative term. A better chioce of words may be uneducated. The general or percieved definition is the same, but is a more "PC" chioce. It still amazes me that someone would go onto the internet, give all of their personal information to an anonymous person/entity on the other end and wonder why they have no rights.

My "beef" is that if you take a random sample of this forum, probably 95%+ of the issues have to do with illegal online lenders and inturn, I get lumped in with those idiots!! Evevn when you read about a storefront lender, the issue is generally due to an individual employee and not the entire company. As I have stated many time, those employees need to be report to the Corp Office and when completed, the issue is resolved.

If you need to borrow money, ask or look for the license before you give any information!!! All storefronts will have it prominently posted in thier lobby and licensed internet lenders will have a link to an image.