Question..
Date: Thu, 12/16/2010 - 09:44
Submitted by joanne hopkins
on
Thu, 12/16/2010 - 09:44
Total Replies: 16
I am wanting to read the ACTUAL payday lending laws (especially as they are written for the online lending.. which is supposed to be illegal).. Can anyonoe tell me where online I can find this resource? I have been looking and I see summary's of it but can't seem to find the actual laws.. Thanks..
Also, I do have 1 payday loan with CashNet USA, but when the deposited the funds in came through as NCP, anyone know why this is?
And as I understand it, online payday lending in illegal for Ohio, so why is CashNet able to legally lend online ?? Just curious..
Thanks so much for all the help!!
What state are you in? Each state has specific payday loan laws.
What state are you in? Each state has specific payday loan laws.
I don't know why they are lending to Ohio residents, they are us
I don't know why they are lending to Ohio residents, they are usually licensed or registered as a CSO in Ohio, but I could not locate a registration nor a license. Cashnetusa's dba is Cash America International, Inc., so I'm not sure why the debit has NCA.
Ohiogal did you find out whether Cashnetusa was licensed under a different name?
I'm in Ohio. Is there a link I can follow to read the payday lo
I'm in Ohio.
Is there a link I can follow to read the payday loans as they are written?
Yeah I thought it was weird, because it was the deposit that was NCP, but all debits thus far have been Cash Net USA..
Again, thanks so much!!
Aren't CashNetUSA and Advance America the same company? AA is r
Aren't CashNetUSA and Advance America the same company? AA is registered in OH, aren't they?
Quote:Aren't CashNetUSA and Advance America the same company? A
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Aren't CashNetUSA and Advance America the same company? AA is registered in OH, aren't they? |
Not to my knowledge.
Advance America use to have storefronts in Ohio. So, now they a
Advance America use to have storefronts in Ohio. So, now they are not licensed? I also thought cashnetusa.com and Advance America were one in the same.
Quote:Advance America use to have storefronts in Ohio. So, now
Quote:
Advance America use to have storefronts in Ohio. So, now they are not licensed? I also thought cashnetusa.com and Advance America were one in the same. |
Thanks!! I'm so confused though.. Where does it indicate that in
Thanks!!
I'm so confused though.. Where does it indicate that internet payday loans are not legal??
If I read this correctly, it looks like this is cashnet, yes?
If I read this correctly, it looks like this is cashnet, yes?
http://elicense2-lookup.com.ohio.gov/SearchDetail.asp?idnt=2037400&DivisionIdnt=1&CredentialIdnt=484537
Quote:If I read this correctly, it looks like this is cashnet, y
Quote:
If I read this correctly, it looks like this is cashnet, yes? http://elicense2-lookup.com.ohio.gov...ialIdnt=484537 |
Quote:I'm so confused though.. Where does it indicate that inter
Quote:
I'm so confused though.. Where does it indicate that internet payday loans are not legal?? |
Ohio house bill 486 was passed in 2008-2009 which capped high interest (payday lenders) loans, that's when so many payday lenders revamped their entire business and became Credit Service Organizations and or small loan lenders. If you read the law you will see that the rate is capped at 28% annual interest, that pretty much leaves out all Internet lenders.
I too live in Ohio and had an internet loan with cashnetusa.com
I too live in Ohio and had an internet loan with cashnetusa.com that I defaulted on. Call them as they were good to work with in setting up payments for me. They sat up 5 equal payments and I was able to get them paid off. As long as you make an effort and contact them and keep them informed, they will help you.
Take the advise of this forum and call Cashnet. They are easy t
Take the advise of this forum and call Cashnet. They are easy to work with. I had a loan with them and during that time my state made payday loans illegal, and Cashnet did right by me.