Florida PDL Mess
Date: Mon, 11/30/2009 - 11:42
Hello,
I have been contacted by a Frank Otto of United Capital representing Payday Loan Yes. He actually called my boss. I have revoked ACH authorizations, but now wondering if I should get a debt consolidation company because I cannot even find out if the companies I've dealt with have licenses with Florida as they won't tell me. I've tried to look up laws concerning internet PDL's in Florida, but I don't think they have laws for the internet ones, just the storefronts. I have loans with the following lenders: Ameriloan, Payday Loan Yes, United Cash, InstantCashUSA for internet loans and Amscot for storefront. I know the laws for the storefront. Does anyone know the upfront average costs to acquire a debt company? I'm trying to figure out what avenue I should follow to begin to get out of this.
Thanks!
Donna
I have been contacted by a Frank Otto of United Capital representing Payday Loan Yes. He actually called my boss. I have revoked ACH authorizations, but now wondering if I should get a debt consolidation company because I cannot even find out if the companies I've dealt with have licenses with Florida as they won't tell me. I've tried to look up laws concerning internet PDL's in Florida, but I don't think they have laws for the internet ones, just the storefronts. I have loans with the following lenders: Ameriloan, Payday Loan Yes, United Cash, InstantCashUSA for internet loans and Amscot for storefront. I know the laws for the storefront. Does anyone know the upfront average costs to acquire a debt company? I'm trying to figure out what avenue I should follow to begin to get out of this.
Thanks!
Donna
Quote:Originally Posted by defncwHello, I have been contacted
Quote:
Originally Posted by defncw Hello, I have been contacted by a Frank Otto of United Capital representing Payday Loan Yes. He actually called my boss. I have revoked ACH authorizations, but now wondering if I should get a debt consolidation company because I cannot even find out if the companies I've dealt with have licenses with Florida as they won't tell me. I've tried to look up laws concerning internet PDL's in Florida, but I don't think they have laws for the internet ones, just the storefronts. I have loans with the following lenders: Ameriloan, Payday Loan Yes, United Cash, InstantCashUSA for internet loans and Amscot for storefront. I know the laws for the storefront. Does anyone know the upfront average costs to acquire a debt company? I'm trying to figure out what avenue I should follow to begin to get out of this. Thanks! Donna |
all of your internet pdl's are not licensed,and are therefore illegal.that includes payday loan yes.i wouldn't hire someone to do what you can do yourself for free.go to the sticky titled DEALING WITH ILLEGAL LENDERS.that will help guide you.as far as amscot goes.if they are CFSA members,and you didn't default they have to to let you invoke the EPP(extended payment plan).
Section 516 of the Florida Consumer Financial Act makes loans fr
Section 516 of the Florida Consumer Financial Act makes loans from unlicensed lenders non-collectable. It also caps the legal ones on the internet at 18 percent. Wage assignments in Florida are illegal. Florida laws also prevent original lenders and third party collectors from contacting a third party except for one time location purposes. Do not sweat this! You do have a moral obligation to pay back whaqt you borrowed but that is all. PM me if you need an attorney if things get nasty. There are several in Florida that take cases on contingency.
