Help on Ohio PDL laws
Date: Tue, 10/02/2012 - 13:26
This is a vicious cycle. I really need some advice on how to pay off these loans. I have been paying them every pay day barely getting by until one of them made a mistake and tried to take out the entire amount of the loan which they admitted they did by mistake because of their system error. It was with Cash Net USA for $2270. Once they tried to take out the full amount it cause other checks & PDL to be returned or I incurred bank fees as a result. I have been reading the posts but I am still a little confused on whether or not internet PDL is legal in Ohio. Ohio seemed to have changed their law on PDL in 2008. I have started following the steps listed on the boards by first closing my bank account but before I proceed with sending letters I need to know if these companies are legal in Ohio. Here is my info:
I have 6 outstanding internet payday loans. Some I have paid additional on it and still owe!
Principal and interest:
Cash Yes – 1 st loan for 585 - paid off 890, 2 nd loan for 625 –paid 125
Fireside Cash - loan for 585 - paid 1642
Cash Net USA - loan for 2270 - paid 470, Have had previous loans with them
Integrity Payday Loans (IPL Today) - loan for 600 - paid 1250
Cash Web USA - loan for 550 - paid 700
First American Capital Resources, LLC/Splash Cash Advance/Chippewa Cree Tribe - loan for 550 - paid 315
I have 6 outstanding internet payday loans. Some I have paid additional on it and still owe!
Principal and interest:
Cash Yes – 1 st loan for 585 - paid off 890, 2 nd loan for 625 –paid 125
Fireside Cash - loan for 585 - paid 1642
Cash Net USA - loan for 2270 - paid 470, Have had previous loans with them
Integrity Payday Loans (IPL Today) - loan for 600 - paid 1250
Cash Web USA - loan for 550 - paid 700
First American Capital Resources, LLC/Splash Cash Advance/Chippewa Cree Tribe - loan for 550 - paid 315
Contact with Ohio Division of Financial Institutions to check th
Contact with Ohio Division of Financial Institutions to check the legality of the above mentioned pdl companies. If they are licensed, then you will be responsible for both the principal and interest. But you are required to pay only the principal if they are not licensed in Ohio. In this case it would be better for you to close down your old bank account and open a new one. Don???t pay them any interest or fees. Ask them for a refund, if you have overpaid them.
Fireside Cash and Integrity are not legal in Ohio. Cash Net USA
Fireside Cash and Integrity are not legal in Ohio. Cash Net USA is legal.
