Quikpayday having administrative problems with NC

There is a thread on here regarding payday loans in North Caroline. Do some searching and you will be able to find it. If I remember right, I don't think payday loans are allowed in NC anymore.

Thanks msmishele30

Hopefully they won't be allowed anywhere anymore.

Hopefully we can all work together to get these places shut down so no one else ends up in the situation that some of us have and are working very hard to get out of!!

justme31 contact NC's AG office to find out about payday loans in NC and what you should do from this point on.

these guys appear to be doing some reorganization even to the extent of setting up different companies doing loans in different states. The interesting thing here that for the two that i checked, the new companies are actually licensed in specific states. This is puzzling, at first blush I figured, hmmm new company address right next to old company.. the usual change names to avoid getting caught.. yet after futher research they appear to actually be working to become more compliant. Now if what some other posts regarding them are true.. that they are on one hand okay to work with and the other recently paid a huge settlement in colorado.. then the evidence would suggest that they got caught not following the law (with respect to licensure in colorado) and then paid a price and are trying to avoid the mistake.. Maybe just perhaps then they are not quite as slimy as other lenders... at least they seem to be concerned about following the law which compared to most internet payday lenders would seem to be a huge evolutionary step. for reference, the states I have checked are Washington and Colorado.

Are there any issues here regarding not paying the legal taxes or paying a lower tax? I heard some of payday loan companies change their address in order to skip paying heavy taxes for doing business. The taxes vary from one state to another. So, they shift to that address where the cost of running business is lower.

That makes sense, and that is the weird thing about quickpayday, the new company is next door. I think what they have done is spinoff a new company to legally be able to do internet loans in states that require their licensure.

The heat is coming down on these online payday loans and i am hoping they all get shut down before america goes bankrupt because of them.

David,

I think a lot of these payday loan companies move around because they are not licensed at all to do business. Quikpayday is not licensed in my state. I believe they are licensed in Utah, where they are from. Sue, I agree that these places just need to be shut down. I think we are all learning a valuable lesson from this.