PDL in MI
Date: Mon, 02/21/2011 - 04:50
[SIZE=3]I have the link to Michigan???s laws on PDL and the link to the info for Licensed lenders but I can???t find any of these. They are all internet only, as far as I can tell. If they have a storefront, I???m not sure where it is.[/SIZE]
[SIZE=3]Ameriloan $450 ($580pd)[/SIZE]
[SIZE=3]United cash loan $150 ($140pd)[/SIZE]
[SIZE=3]500fast cash $450 ($320pd)[/SIZE]
[SIZE=3]Mycashnow $200 ($190pd)[/SIZE]
[SIZE=3]Thinkcash $500 ($390pd)[/SIZE]
[SIZE=3]That is how much I borrowed as well as what I (paid). From what I can find, Ameriloan, united, 500fast cast all seem to be non-licensed here. Not sure on mycashnow but I read somewhere in these forums that Thinkcash is pretty legit as they are a small loan kind of deal as opposed to a PDL.[/SIZE]
[SIZE=3]Had to close my bank account a few days ago because I had $50 and $25 taken out this month by places I???ve never heard of. Went to the bank and explained and showed everything and as far as I know, no one will be able to force it open for an ACH withdrawal since they closed it due to fraud\etc. We???ll see, come the first. Was with my banker as she tried talking to people from all these places trying to get addresses (which we never did) and their responses were, well, not very friendly. They didn???t like talking to her.[/SIZE]
[FONT=Times New Roman]So, are any of these legal and licensed or am I just not using the MI database correctly? I go to the database and type in all the names and come up with nothing on them and finding a physical address is proving difficult. Any help would be greatly appreciated and yes, I am browsing the DIY and How to Deal With???sections.[/FONT]
Think Cash is not a payday lender, they are backed by a bank, th
Think Cash is not a payday lender, they are backed by a bank, therefore they are legal, you won't find them in the payday lender licensee data base because they aren't a payday lender.
You can check their licenses at the link below, but your other lenders are not legal:
http://www.dleg.state.mi.us/fis/ind_srch/ConsumerFinance/Search.asp
[URL=http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html]CLICK HERE[/URL] to find out how to deal with illegal lenders.
Thank you Shazz for the quick response. I only have one more pay
Thank you Shazz for the quick response. I only have one more payment with thinkcash to close them out and had read in the forums they were backed. I'm a little tired so not wording things correctly. Sorry. This place is amazing and I know some people were on the verge of tearing their hair out before I pointed them this way. Again, an amazing place for knowledge and my thanks.
