PDL Laws

Internet payday lenders are required to be licensed by your state, you are bound by your state laws. Any lender (payday loan lender) who is not licensed in your state are considered illegal lenders. Just make sure you are dealing with payday lenders and not installment lenders. Double check your contract. There are also more and more CSO's (Credit Service Organizations) popping up from state to state. CSO or Credit Services Organization model (unfortunately) IS NO LICENSING required by the state! CSO's are required to "Register" with the Secretary of State, they are NOT licensed, and their fees ARE NOT REGULATED.

Most PDLs have a mail drop at the same address is Wilmington because the lending laws are so loose there. They think because they are located there that they can lend wherever they want. Thanks to people like the members of this site they are finding out that is not so. Reno NV is another place with a multitude of PDLs at one address. Coincidently this site has a PO Box there also! ooops!