Langhorne
Date: Wed, 06/30/2010 - 07:41
I wouldn't recommend a debt consolidation program until you find
I wouldn't recommend a debt consolidation program until you find out whether the payday loans you have are even legal.
First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
yes, first find out if they are legal or not. check your state l
yes, first find out if they are legal or not. check your state laws http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
Use the search box and you will find lots of discussion on Langhorne
Quote:Originally Posted by ShazzersI wouldn't recommend a debt c
Quote:
Originally Posted by Shazzers I wouldn't recommend a debt consolidation program until you find out whether the payday loans you have are even legal. First of all, please list the following information so we can help you. -Names of each pdl company. -Whether they are store front or Internet. -How much you borrowed. -How much you paid so far. -The state in which you reside. |
I live in Ohio. I am new to debt consolidation program. I have sent you a private message. would you please respond.
Someone needs to get rid of the email address for the OP.
Someone needs to get rid of the email address for the OP.
Quote:Originally Posted by PDLOwnerSomeone needs to get rid of t
Quote:
Originally Posted by PDLOwner Someone needs to get rid of the email address for the OP. |
I am new to Debt Consolidation Care Forum and I am in way over my head. I am thinking of hiring Langhorne but don't even know if the payday lenders that I have taken out loans with are even allowed to do business in Ohio. Can you help me?
Quote:Originally Posted by Danise SpencerI am new to Debt Consol
Quote:
Originally Posted by Danise Spencer I am new to Debt Consolidation Care Forum and I am in way over my head. I am thinking of hiring Langhorne but don't even know if the payday lenders that I have taken out loans with are even allowed to do business in Ohio. Can you help me? |
Just as Shazz requested, post the list on here and others can help also.
Quote:Originally Posted by PDLOwnerJust as Shazz requested, post
Quote:
Originally Posted by PDLOwner Just as Shazz requested, post the list on here and others can help also. |
I live in Ohio.
The following are companies I have payday loans with:
Wagesfast.com - I have made 6 payments and the current principal balance is $200
Integrity Advance - I have made 6 payments and the current principal balance is $300
mypaydayloan - I have made 4 payments and the current principal balance is $300
Magnum.com - I have only made 1 payment. The original loan was for $600
Elastic.com - I have made 1 payment. Original loan was for $300
Cashnetusa.com - I have made 2 payments. original loan $600
Spotya.com - I have made one payment - original loan $275
Quote:Originally Posted by Danise SpencerI live in Ohio. The fol
Quote:
Originally Posted by Danise Spencer I live in Ohio. The following are companies I have payday loans with: Wagesfast.com - I have made 6 payments and the current principal balance is $200 Integrity Advance - I have made 6 payments and the current principal balance is $300 mypaydayloan - I have made 4 payments and the current principal balance is $300 Magnum.com - I have only made 1 payment. The original loan was for $600 Elastic.com - I have made 1 payment. Original loan was for $300 Cashnetusa.com - I have made 2 payments. original loan $600 Spotya.com - I have made one payment - original loan $275 |
Can you add the amount that you have paid on each?
Quote:Originally Posted by PDLOwnerCan you add the amount that y
Quote:
Originally Posted by PDLOwner Can you add the amount that you have paid on each? |
Wagesfast.com - I have paid $504 - my original balance was $400
Integrity Advance - I have paid 246.50 - my original balance was $400
mypaydayloan - I have paid $1,301.25 - I originally borrowed $600 (they are still showing I owe principal of $300)
Magnum - I have paid $254.71 - originally borrowed $600
Elastic - I have paid $90.
Cashnetusa - $132.71 has been paid
Spotya - $90 has been paid.
OMG -- I can't believe the mess I am in. HELP
I checked the Ohio database (including the Credit Service Organi
I checked the Ohio database (including the Credit Service Organizations, since Ohio still have the CSO loophole.)
I found only Cashnetusa to be licensed. Before we assume the rest are unlicensed/illegal, should we have Danise call the lenders and ask if they have a license under another name?
I would hate to have Danise proceed with the unlicensed/illegal lender procedure, only to find out later one was licensed.
Elastic/FBD is an installment lender, I am still waiting for a r
Elastic/FBD is an installment lender, I am still waiting for a response from the Ohio DFI about Elastic, I emailed them twice. I was originally going to call them on Monday if I hadn't heard back, but since today is the 4th, I'm pretty sure they won't be opened tomorrow, so I will call them Tuesday.
Cashnetusa is the only legal lender, the others are not licensed to lend in Ohio (with the exception of Elastic.). CLICK HERE to find out how to deal with illegal lenders.
Quote:Originally Posted by ShazzersElastic/FBD is an installment
Quote:
Originally Posted by Shazzers Elastic/FBD is an installment lender, I am still waiting for a response from the Ohio DFI about Elastic, I emailed them twice. I was originally going to call them on Monday if I hadn't heard back, but since today is the 4th, I'm pretty sure they won't be opened tomorrow, so I will call them Tuesday. Cashnetusa is the only legal lender, the others are not licensed to lend in Ohio (with the exception of Elastic.). CLICK HERE to find out how to deal with illegal lenders. |
I have decided not to hire Langhorne but to do this alone. Why should I pay Langhorne $1,300 in fees when I can do this alone? It is my understanding from your post that Cashnetusa (and possible Elastic) is the only legal lender licensed to lend in Ohio. Is that correct? I have closed my bank account and explained to my situation to the manager of the bank. She is very supportive as her sister is in the same mess. Now, that I have closed my bank account. What is the next step for me to take?
Quote:Originally Posted by Danise SpencerI have decided not to h
Quote:
Originally Posted by Danise Spencer I have decided not to hire Langhorne but to do this alone. Why should I pay Langhorne $1,300 in fees when I can do this alone? It is my understanding from your post that Cashnetusa (and possible Elastic) is the only legal lender licensed to lend in Ohio. Is that correct? I have closed my bank account and explained to my situation to the manager of the bank. She is very supportive as her sister is in the same mess. Now, that I have closed my bank account. What is the next step for me to take? |
Yep, they ARE a legal lender. I received an email from the Ohio DFI, since they are not a non depository lender, they are not required to be licensed in the state of Ohio. I would call them (or email them) if I were you and explain that you will need to close your account due to fraudulent activity on your account, therefore it will be necessary to make payments to them via the mail with money orders as you are not going to open a new account until you have this situation under control and resolved. Meanwhile, CLICK HERE to find out how to deal with illegal lenders.
By the way, here is the reply I received regarding FBD, from the
By the way, here is the reply I received regarding FBD, from the Ohio DFI.
[FONT=Arial, sans-serif][SIZE=2][QUOTE][/SIZE][/FONT]Dear xxx
[COLOR=#0000ff]First Bank of Delaware is not a payday lender. It is a Delaware chartered state bank. As a bank it is allowed to offer many types of loans, including payday loans. Lending rates for banks are not regulated. The bank may operate in Virginia by internet or the bank could apply to have branch. This is by agreement among the states. The bank is regulated by the Delaware office of the State Bank Commissioner and the Federal Deposit Insurance Corporation (FDIC). You can reach the regulators at the links below if you have a complaint or other concerns. I have also included a link to the bank's website. [/COLOR]
[COLOR=#0000ff]We hope this information is helpful. [/COLOR]
[URL="http://banking.delaware.gov/default.shtml"]http://banking.delaware.gov/default.shtml[/URL]
[URL="http://www.fdic.gov/"]http://www.fdic.gov/[/URL]
[URL="http://www.fbdel.com/pgsGen/aboutUs.asp"]http://www.fbdel.com/pgsGen/aboutUs.asp[/URL]
[/QUOTE]
Quote:Originally Posted by ShazzersYep, they ARE a legal lender.
Quote:
Originally Posted by Shazzers Yep, they ARE a legal lender. I received an email from the Ohio DFI, since they are not a non depository lender, they are not required to be licensed in the state of Ohio. I would call them (or email them) if I were you and explain that you will need to close your account due to fraudulent activity on your account, therefore it will be necessary to make payments to them via the mail with money orders as you are not going to open a new account until you have this situation under control and resolved. Meanwhile, CLICK HERE to find out how to deal with illegal lenders. |
So, out of my PDL, the only 2 that are legal to do business in Ohio are Elastic and Cashnetusa. Is that correct?
Quote:Originally Posted by Danise SpencerSo, out of my PDL, the
Quote:
Originally Posted by Danise Spencer So, out of my PDL, the only 2 that are legal to do business in Ohio are Elastic and Cashnetusa. Is that correct? |
That is correct.
Quote:Originally Posted by ShazzersThat is correct. ok, my fir
Quote:
Originally Posted by Shazzers That is correct. |
ok, my first step is to write a letter to those that are illegal to do business in Ohio using your template but modifying it to fit my situation, right? What is my next step for the 2 that are legal?
Quote:Originally Posted by Danise Spencerok, my first step is to
Quote:
Originally Posted by Danise Spencer ok, my first step is to write a letter to those that are illegal to do business in Ohio using your template but modifying it to fit my situation, right? What is my next step for the 2 that are legal? |
First step, close your account. Read the link I gave you above on how to deal with illegal lenders.
Quote:Originally Posted by ShazzersFirst step, close your accoun
Quote:
Originally Posted by Shazzers First step, close your account. Read the link I gave you above on how to deal with illegal lenders. |
I closed my bank account. Talked to bank manager and she was very understanding as her sister is in the same boat. I wrote letters to all the illegal lenders using your template, but modifying it to fit my situation.
The 2 pdl that are legal in Ohio, what should I do next with them?