storefront pdl
Date: Wed, 07/07/2010 - 10:24
I won't have the money to pay this I just closed my bank account because of online pdls.
I will be able to pay them next month(I get paid monthly)Will they let me do this or am I
in trouble. Does anyone have any info? I would appreciate any help.
Payday loans are illegal in PA so you might be able to get away
Payday loans are illegal in PA so you might be able to get away with only paying the principal to your storefront lender and your internet lender.
One problem you will face is that the payday lenders (both internet and storefront) might claim in a court of law that you had reason to know that payday lending was illegal in PA and took out these loans in spite of that. If a court in PA agrees with this then you could end up owing the interest.
I am not saying that you did this, but this is a possible claim your creditors could make, so I feel it is important to make you aware of it so you can be prepared if they do. My advice is to call your lenders up and do your best to negotiate a settlement or a new payment plan. Unfortunately I do not know of any creditors who will allow you to change the way they are paid without their agreement (in writing).
The regulations for a storefront pertain to where the store is l
The regulations for a storefront pertain to where the store is located and not where the customer lives. If the OP crossed statelines to get a loan, they are then bound by the laws/regulations of Ohio. The only exception that I am aware of is in West Virginia, where they will not allow a PDL company to collect debts inside of WV.
As for CheckSmart, the OP needs to determine if this is a PDL or a small loan as there are different regulations for each type of loan. If CheckSmart should go to small claims, it would be in Ohio and not PA since the storefront is in OH.
That is incorrect. Federal civil procedure statute and the US C
That is incorrect. Federal civil procedure statute and the US Constitution require that a person be sued in the state in which they reside with the intent to remain. Therefore, the lender would have to sue the OP in PA, and if you are correct and the OP is bound by Ohio law, the court in PA would simply apply Ohio law. It's done all the time.
In addition, as of 2008, PA law does require that any out of sta
In addition, as of 2008, PA law does require that any out of state lender conform to PA law when making loans to PA citizens.
Quote:Originally Posted by OVLG AttorneyIn addition, as of 2008,
Quote:
Originally Posted by OVLG Attorney In addition, as of 2008, PA law does require that any out of state lender conform to PA law when making loans to PA citizens. |
Will they give me an extension? I will pay it back next month I just dont have it this month
That is something you have to discuss with the lender.
That is something you have to discuss with the lender.
THANKS everyone I'll give them a call. This site is awesome.
THANKS everyone I'll give them a call. This site is awesome.
Quote:Originally Posted by OVLG AttorneyThat is incorrect. Feder
Quote:
Originally Posted by OVLG Attorney That is incorrect. Federal civil procedure statute and the US Constitution require that a person be sued in the state in which they reside with the intent to remain. Therefore, the lender would have to sue the OP in PA, and if you are correct and the OP is bound by Ohio law, the court in PA would simply apply Ohio law. It's done all the time. |
If you say so...
I operate in border states and know how it was handled. You had to have a third party server, but the small claims case was handled in the county of the storefront.