Payday loans

Date: Wed, 10/03/2012 - 06:57

Submitted by sqrlrmn
on Wed, 10/03/2012 - 06:57

Posts: 130 Credits: [Donate]

Total Replies: 5

Hi All: I live in Maryland and am in the process of closing my checking acct. I have paid way over on all these loans. Can you tell me these are legal in my state and what to tell them when they start calling?

Shoreline
ABL Funding
MyCashNow
CashNetUSA (Line of Credit only)
Money Center (located in Texas)
500FastCash
Beacon

Thanks

Payday loans are illegal in Maryland with the exception of CashN

Payday loans are illegal in Maryland with the exception of CashNetUSA. They are considered a CSO. You can work out a payment plan with them to pay your loan in full over a period of 4 to 5 payments. You are only morally responsible for paying back the principal amount borrowed, no interest or fees. Under Forums, click on payday loan help, then click on sticky on how to deal with unlicensed lenders. Follow every step. :p

lrhall41

Submitted by bingonut on Wed, 10/03/2012 - 08:19

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You should see the crap Money Center writes on their home page:

You should see the crap Money Center writes on their home page:
Quote:

NOTICE: This ad is an invitation to send us a loan application, not an offer to make a loan. We are a Texas based lender. If you send a loan application to us, we will receive and process it in Texas the same as if you submitted it to us in person at our office. We only make loans from our offices in Texas. Our loans are governed by Texas law. Texas law governing consumer loan agreements may differ from the laws of the state where you reside. If you do not want to enter into a loan agreement subject to Texas law, you should apply for this loan at a lender located in the state where you live.

lrhall41

Submitted by Steve Barris on Thu, 10/04/2012 - 01:51

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Payday lending is prohibited in Maryland. That means all lenders

Payday lending is prohibited in Maryland. That means all lenders are illegal here. You owe principal only. Don???t pay them any interest or fees. Close down your old bank account and open a new one.

lrhall41

Submitted by on Thu, 10/04/2012 - 05:09

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please

guest don't post blanket incorrect info.cashnetusa is A CSO and therefore legal in MD.it was already established.

lrhall41

Submitted by paulmergel on Thu, 10/04/2012 - 05:48

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Forgot to mention, you may also want to contact the Maryland Com

Forgot to mention, you may also want to contact the Maryland Commission of Financial Regulation, 500 North Calvert Street, Room 402, Baltimore, MD, 21202, 410-230-6100, [EMAIL="finreg@dllr.state.md.us"]finreg@dllr.state.md.us[/EMAIL] I too am from MD and they along with this great site has helped me become payday loan free.

lrhall41

Submitted by bingonut on Thu, 10/04/2012 - 05:57

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