How do you find out if loans are legal?
Date: Tue, 08/31/2010 - 05:51
First Bank of Delaware
PayDay1One
elastic
If legal, what are the consequences of defaulting?
Will it be reported to Credit Bureau?
First Bank of Delaware are installment loans and are not guided
First Bank of Delaware are installment loans and are not guided by the PDL laws. You have to pay them off. Ask for a payment plan and pay them accordingly.
PayDay1 is a CSO and will give you an extended payment plan. Probably, you will be able to get similar offer from Elastic.
Although criminal actions are prohibited in your state, the companies will file civil case against you if you default. Wage garnishment is another option.
Regarding being reported to CB, it depends on the PDL companies.
I'm sure Paul is right about these three. In general you can al
I'm sure Paul is right about these three. In general you can always go to paydayloaninfo (dot) org. Consumer Federation runs it and they have links to every state regulator. Most regulators are set up so you can look for licensed lenders online.
If you have any problem in finding lenders licensee in that site
If you have any problem in finding lenders licensee in that site, you can also do a search about them in this site. The search box is on the right-hand top corner of this page.