Swiming in Payday Loans in Virginia

I'm in VA also. First, internet loans are illegal unless the lender is licensed in VA. I do not see any but Advance America on the licensed list. http://www.scc.virginia.gov/bfi/reg_inst/pay.pdf

Did you take the loan with Plain Green while they were PG or back when they were Think Cash? If it was Think Cash that one is also legal. I can explain more if needed.

You need to contact Advance America and get an EPP. They will file civil suit if you stop paying!

As for the rest find the thread dealing with illegal payday lenders and follow the instructions. http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

VA complaints go to the VA BFI (Bureau of Financial Institutions). You should send them copies of the letters you send to each lender. The BFI can't do much but also send them letters telling them they are not licensed in VA and need to be in order to do business here.

For the illegal lenders you are only morally obligated to pay back what you borrowed (principal). Keep track of what you borrowed and how much you've paid already.

Good Luck!

Quote:

Internet payday loans are all illegal in Virginia. These lenders have committed a felony each time they make these loans-they are criminals and you need to treat them accordingly.
Close the bank account.
Call 866-830-4501
Expect them to harass you but don't let them intimidate you-they are the criminals not you
http://www.virginiafairloans.org/

Thanks for the great information, of the 8 illegal ones 1 company, Cash Jar actually responded and sent me a Paid in full notice and closed my account. 2 others have contacted me one, Sure Advance keeps saying I took the loan via the internet from Delaware so I have to follow Delaware law, the other one that responded, Advance Me Today, says they are a country that has agremments with the US Federal governemnt that supersed VA law. Cash Direct Express GECC is also claiming the Delaware laws supersed VA law becasue I took the loan in Delaware over the internet, and 4 others wont respond at all. I bet they will when they find out the account is closed. Can I send cease and desist letters to them?

They're both wrong.

Your state's (commonwealth's, in your case) laws prevail.

There are no federal payday loan laws.

Stick to your guns.

I hope you closed your checking account!!!

Hello,

I have a PDL with advancemetoday.com and I found it interesting on the bottom of their website it says they only loan to people in states where it's legal. But in my state it's not and I don't find them on the payday lender licenses site for VA. Could they be doing business under a different name? It's still ok to send them a letter advising them no more ACH debits to be taken out of my account?

Thanks!

I emailed Advance me Today and they say they are a St. Vincent company and the US are both in the General Agreement on Trade in Services, a treaty which specifically permits companies in one country to make consumer loans to citizens of the other.

They say they are only obligated under federal laws of the US, not state licenses and state licenses do not apply.

Is that true?

Nope. Not true. They're feeding you a line of BS to try to scare you into giving them your money. Don't do it.

I get the same lines. You took the loan out online and we aren't subject to your laws.

I have continued fighting but I'm only about 3 weeks in so far. I have good arrangements with one lender to pay back principle only.

Some others are fighting, some are silent. I think I have an offshore lender too so I'm interested to see how yours turns out.

It's great to have your check back, isn't it?

Quote:

I had no problems closing my account at Wachovia and I discussed with them why. The lady was very understanding and said they've seen a lot of this type of illegal loans recently. (I'm from Virginia, too).They completely closed my old account and put a hard block on it. I opened a new account that will never be linked to my old account. As a matter of fact, I opened a second account for online buying only with no link to my other account! I need now send out the letters to the internet PDL companies and wait for the threatening calls. I will not let them intimidate me into giving them money that they don't deserve (2 of the loans I have paid the principle and then some) and 2 I haven't paid anything on yet but will only pay the principal. I'm looking forward for this nightmare to be over with and am looking forward to actually seeing my direct deposit not eaten up on the first day I get it!:D

I bank with PNC and at first, I called the 800 number and nothing could be done to close my account.

But, per the advice here, I went in and talked to a branch person (not even the manager) and she took care of me immediately. Said it would take about 48 hours before the account was completely locked. I never I did this 3 or 4 days before my next scheduled withrawals and also made sure all of my other checks, etc. were through. I never had a charge or problem after that.

Good luck. It will be nice to have your check for the holiday weekend!

Good for you! Good advice, don't call but go in and talk to a manager or someone who has the ok to close an account! Luckily, when I closed mine, it was immediate and I didn't have to wait. 2 of my illegal loans have been Paid in Full after I sent the letter found in this forum: CashJar and Magnum Advance Cash. I still haven't heard anything from the other 2.

Glad to see that some fellow Virginians are getting out of this trap. I'm glad my previous advice helped some of you.

Stick to your guns. Follow up with the VA BFI and let's put these folks out of business in our state and hopefully others!