Louisiana Online PDL Laws

You can close your accounts if you want to stop your payday lenders from debiting money from it. After you do that, you can try to consolidate your payday loans and pay them off.

If payday loans are legal in your state, you'll be liable to pay it. Check whether the aforementioned companies have license to operate in your state. If they are illegal, then you only have to pay the principal amount. If they are legal, then you can go for payday loan consolidation.

Firstly, allow me to apologize for the horrendous formatting. Apparently, this site isn't very compatible with my browser.

It seems that in the state of Louisiana, a company doesn't have to be licensed in the state if they don't have a physical presence. However, they do have to abide by the laws of the state.

All of these companies are debiting my account each week for the finance charge alone. That means they are rolling over the loan. Since rollovers are not allowed under LA law, are these loans not illegal?

I plan to go to the bank today and do whatever is necessary to close my account. I will then send each of these companies revocation letters as well as offers to pay them the principal plus one finance charge minus the amount I have already paid in finance charges. Will I be within my rights to do this?

I appreciate those who have already responded and welcome any advice anyone else may have.

I successfully and surprizingly easily closed my account today. I specifically asked the manager if an ACH would reopen the account and she reassured me that it wouldn't. Should I still be concerned, though?

I'm wondering how I should approach these lenders. Should I approach them as if the loans are illegal or should I simply ask them to accept an offer of settlement? Since the rollovers are not allowed in Louisiana, I feel the terms are illegal even if the loans themselves are not.

Any advice?

Most of the lenders you posted aren't licensed to lend anywhere. Cashnetusa definitely is, but they are usually pretty good about working with you, if you request and extended payment plan from Cashnetusa.

The following lenders below are not licensed anywhere, which would make them illegal.
Speedycash
LoanPointUSA
LoanShop
Lakota Cash.
Flobridge Group
JD Marketing Group
VIP Cash
PDLNow
FYI, most of these lenders all have dba's, so, if one has your account information, they all do, because online payday lenders sell and share information. [URL=http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html]CLICK HERE[/URL] to find out how to deal with illegal lenders.

Thank you, Shazzers! That's a great help to know that.

Ok. My bank account has been closed and I have sent my revocation letters. I will be giving copies to my payroll person tomorrow, but how will I know if they try to assign my wages? My company's payroll department consists of about 30 people and they are notorious for screwing up. Should I receive some type of notice before they actually take the wages or will I just see it taken out? Thanks to anyone for advice.

They won't notify your first. I sure hope your payroll department has people employed who are knowledgeable in the law, else they could get into a lot of trouble for not honoring your wage assignment revocation, including hefty fines. So, keep copies handy, and check in often, make them aware that you are being scammed and would appreciate being informed in advance should a wage assignment request come across their desk.

Thank you Shazzers. I will keep that in mind. I've already received a message from so-called Officer Mike Ericson (lol), so I know they'll be coming soon.