Payday Loan in Indianapolis, IN

Payday lending is legal in the State of Indiana. In order to know whether or not 247 Greenstreet is licensed to operate in your state, you will have to contact the Indiana Department of Financial Institutions. They will let you know the details in this regard.

The contact detail of the Indiana Department of Financial Institutions is as follows:
# Address - 30 South Meridian Street, Suite 300 Indianapolis IN 46204
# Phone - (800) 382-4880

If you find that the lender is not licensed to operate in your state, then you can get rid of the debt by paying them only the principal amount. You will be responsible for both the principal and interest if they are licensed in your state.

since neither the first two really want to help i will.this lender is not legal in any state period.as sally did state yiou only owe the principle and anything that was debited till now gets deducted from that.example:

you borrowed 300 from 247 greenstreet.they debit 90.00 three times.you only owe 30.00.that's it.go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of the payday loan help forum.follow every step.the first being to close your account and open a new one.do that and again know you only owe the principle.no fees or int.

I appreciate the answers and will definitely only pay the principal....last question is: I have looked back at my bank statements and noticed that I have had 5 pdl with them and each time paid as agreed interest and all. Because of that I have paid them a total of $339.66 in interest for loans that were not legal. Can I deduct the interest paid over the 5 pdl's from the principal that I now owe. I don't know if I am wording this right, but here's an example:

8/2/11 principal 400, interest 79.92, paid 479.92
8/15/11 principal 300, interest 59.94, paid 359.94
8/31 principal 400, interest 79.92, paid 479.92
9/10/11 principal 300, interest 59.94, paid 359.94
9/25/11 principal 300, interest 59.94, paid 359.94
10/11/11 principal 540, interest 107, not paid, due 10/28
TOTAL INTERST PAID BETWEEN 8/2/11 -9/25/11= $339.66

From the loan dated 10/11/11 can I deduct 339.66 (interst paid from previous loans) from the principal, owing $200.34, in payments of 6 for $39.39 weekly by money order to their address in Malta?:confused::confused:

I answered you PM.

I agree with your calculations. You've overpaid on previously loans by $339.66 so you only owe $200.34 on your current loan.

8/2/11 you've overpaid 79.92
8/15/11 you've overpaid 59.94
8/31 you've overpaid 79.92,
9/10/11 you've overpaid 59.94
9/25/11 you've overpaid 59.94

nice work ohiogal.OP go by what she posted.

Thank you all so much!!! I'm so glad there are people out there like you who are for helping the consumer:D I will post once I close my bank account and send them letters by email and regular postal mail to let you know how they reply.

Ok, so I sent an email to the Indiana Department of Financial Institutions regarding 247 greenstreet and this was the response I received:

247 greenstreet is not licensed to make consumer or payday loans in the state of Indiana. Basically since they are not licensed in Indiana, the loan is not a valid loan and is considered null and void.


We have sent letters to these out of state and off shore companies to no avail. Most of the letters come back as non deliverable. Your only recourse may be to close your bank account (after explaining the situation to your bank) and opening a new one. The company 247 greenstreet has no legal standing in Indiana and will not be able to take any action against you. They will threaten you with arrest and court action; however, other than harassment they will not be able to go further.


I suggest you change your bank account and the first time they call you for collection, tell them you have been in contact with this agency and they are not licensed in Indiana. You should tell them to contact this agency directly.


In any subsequent calls, we suggest you gently lay the phone down and walk away. Time is money to them and when they realize you are not going to speak to them further they will eventually give up.


We suggest that you never get a loan via the internet, a TV or newspaper ad. Most of these are bogus offers and many are money making scams. This agency can do little to stop these businesses since they are located all over the globe. Federal action has been started against many of these companies but they count on their being anonymous and hard to reach.

Hope that helps!

that's what is great about certain states AG'S.swift and detailed action.love it.

I contacted my bank, closed my account, opened a new one at a different bank and sent the letter to 247 greenstreet by email (twice). They responded a day later with this:

You are responsible for the loan that you applied and your account was debited for the payment of your loan. You signed the loan agreement that allows us to deposit and to debit your account for the loan that you applied. If our debits doesn't go through a collector will try to contact you after the repayment date.

If you have any questions, please contact us via:

Phone: 1-877-696-1822
Fax: 1-866-591-9347
Email: [[EMAIL="cancel@247greenstreet.com"]cancel@247greenstreet.com[/EMAIL]
Web Site: [URL="https://www.247greenstreet.com/"]https://www.247greenstreet.com[/URL] ->
mailto:[EMAIL="cancel@247greenstreet.com"]cancel@247greenstreet.com[/EMAIL]]

So, I replied with this:

Since you have operated in the State of Indiana illegally, I would
encourage you to read the following information sent to me by the Indiana Department of Financial Institutions:

A change to the statutes which took effect July 1, 2007, IC 24-4.5-1-201( 8) reads: "If a creditor has violated the provisions of this article that apply to the authority to make consumer loans (IC 24-4.5-3-502), the loan is void and the debtor is not obligated to pay either the principal or loan finance charge, as set forth in IC 24-4.5-5-202.


I will not be repaying this fraudulent loan regardless of who contacts me. You may call the Indiana Department of Financial Institutions for more information.

I haven't heard from 247 greenstreet since then and they have blocked access to my account on their website. Just wanted to give an update and will continue to update periodically to let you know where things stand.

Thanks!

you are on it.just know that is a typical move by an illegal lender.blocking you when you get wise.do keep us posted as some piece of dirt will contact you about this.we can help there as well.just know you are doing great.