CSO or PDL
Date: Wed, 03/30/2011 - 11:14
Submitted by ballplayersmom
on
Wed, 03/30/2011 - 11:14
Total Replies: 9
You can find a discussion in this regard from the given page: h
You can find a discussion in this regard from the given page:
http://www.debtconsolidationcare.com/paydayloan/cso-pdl.html
Please take a look at it. I hope it will help you.
Thanks for giving me that link, it helped explain the difference
Thanks for giving me that link, it helped explain the difference. How do I find out though if a payday lender is a CSO in New Jersey???? Or are they a PDL pretending to be a CSO?
The lender is cash in advance store.com. It was an internet pay
The lender is cash in advance store.com. It was an internet pay day loan in New Jersey however on contract in small print it says CSO Loan Servicer and also HAD Financial Services LLC. When you go on their website it says provides pay day loans and lists the states where they are not available.
Can anyone tell me if the following companies are PDLs or CSOs?
Can anyone tell me if the following companies are PDLs or CSOs?
-mycashnow
-us fast cash
-fast direct cash
-cashnet usa
-instant cash
-loanshack
-ameriloan
-loanshop
-star cash
Thanks!
BPM, as you know, PDLs are prohibited in the state of NJ. For sm
BPM, as you know, PDLs are prohibited in the state of NJ. For small loans, the usury cap is set at 30% annually. I cannot find this company as a licensed entity in the state of NJ for small loans, as a CSO or otherwise. I would suggest that you contact the New Jersey Department of Banking and Insurance to confirm whether they are a licensed CSO or not. What the APR on the loan? If it's over 30%, I'm betting it's illegal in the state of NJ but, again, I would double check with the regulator.
Regulatory Contact: Ludi Hughes, Assistant Commissioner
Address: 20 West State St. Trenton NJ 08625
Phone: (609) 292-5360
Fax: (609) 292-5461
P.S. I deleted the duplicate posts. I had a similar issue not long ago. I think sometimes the server gets overloaded and it takes a bit to catch up :)
Quote: Can anyone tell me if the following companies are PDLs o
Quote:
Can anyone tell me if the following companies are PDLs or CSOs?-mycashnow-us fast cash-fast direct cash-cashnet usa-instant cash-loanshack-ameriloan-loanshop-star cashThanks! |
What state are you in? There are a couple on your list that aren't licensed to lend in any state in the U.S. There are also a few that are both PDL and CSO, depending on your location.
I've done some research and it looks like CashNetUSA and Loansha
I've done some research and it looks like CashNetUSA and Loanshack are the only lenders who are licensed. CNUSA will allow you to enroll in an extended payment plan. Call them and ask for it. Generally, they will divide your balance into 4 equal payments payable over your next 4 pay dates. I would ask the same of Loanshack. The others aren't licensed and you are only required to repay the principal amount borrowed. Anything you've paid to them thus far can be applied to your principal balance due. Check out [URL="http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html"]this thread [/URL]to learn how to deal with illegal lenders.