Is abcpaydayloan.com, aka payday-loan-yes licensed?
Date: Mon, 06/28/2010 - 19:53
Is abcpaydayloan.com, aka paydayloanyes.com licensed for business in any state, specifically PA? I am under the impression they are a foreign lender, but just checking on their legality. Would also like to know about Ameriloan and oneclickcash.com
I spoke to the PA dept of banking, they said while they have upd
I spoke to the PA dept of banking, they said while they have updated their laws to say that payday lonas from online lenders are illegal in PA, the law is not being enforced due to a lawsuit, they further stated that if a PAyday loan online lender is licensed in anoter US state, then they are usually protected. They said if a payday lender is illegal, and not licensed within the US, is a foregin company etc, that the lona is illegal. I am trying to find out if Abcpaydayloan.com aks paydayloanyes.com is licensed within the US as they are from Nassau Bahamas.
Quote:Originally Posted by AnonymousI spoke to the PA dept of ba
Quote:
Originally Posted by Anonymous I spoke to the PA dept of banking, they said while they have updated their laws to say that payday lonas from online lenders are illegal in PA, the law is not being enforced due to a lawsuit, they further stated that if a PAyday loan online lender is licensed in anoter US state, then they are usually protected. They said if a payday lender is illegal, and not licensed within the US, is a foregin company etc, that the lona is illegal. I am trying to find out if Abcpaydayloan.com aks paydayloanyes.com is licensed within the US as they are from Nassau Bahamas. |
As I said, the law clearly states that payday loans are prohibited, it says nothing about online lenders being illegal. Both of the above payday lenders you mention are NOT licensed to lend ANYwhere. You can wait for more replies if you like.
Quote:Originally Posted by AnonymousI spoke to the PA dept of ba
Quote:
Originally Posted by Anonymous I spoke to the PA dept of banking, they said while they have updated their laws to say that payday lonas from online lenders are illegal in PA, the law is not being enforced due to a lawsuit, they further stated that if a PAyday loan online lender is licensed in anoter US state, then they are usually protected. They said if a payday lender is illegal, and not licensed within the US, is a foregin company etc, that the lona is illegal. I am trying to find out if Abcpaydayloan.com aks paydayloanyes.com is licensed within the US as they are from Nassau Bahamas. |
You could go through all the states licensee data bases to be 100% certain, that is the only way to know for certain.
On their website they say they are not allowed to lend in pa.
On their website they say they are not allowed to lend in pa.