Payday loans...prohibited states

Thanks "bingonut" I will. I did send them an email asking for the refund. We'll see how they respond. One more question for you folks. I have a CashNetUSA Installment loan of $2,600.00. I'm almost done paying it off, but curious about they high finance fees. Is it legal to charge almost the same amount in fees that I borrowed? If the usury laws state otherwise, I'm wondering if I can get a refund. I live in California. Thank you in advance for your help! :)

Hi,

I recently just found this forum. I am from New York. I borrowed $1,020.00 from PaydayMax and this is not the first time i borrowed from them and also Ameriloan for $750.00. I realized these PDL's are illegal in my state. What should I do? I'm ready to send out my ACH revocations letters to the BBB, FTC, and AG of my state. Even though this is not the first time I borrowed them will they catch me on the grounds of being decietful in anyway.

Sorry...I thought that it did not post.

Payday loans are being regulated in almost 37 states while it is band in 13 states as it is either illegal or not feasible. In banned states, payday lending is in the form of usury limits: hard interest rate caps calculated strictly by annual percentage rate (APR).

I have a loan with usawebcash (genesis financial) that I placed a stop payment on. My loan transaction currently says "waive loan" whereas the ones I paid on says different. What does that mean? I received an email stating that my loan was paid off and payment method was "wl" whereas the other ones said "ach".

Just an fyi. Pdl are legal in Iowa but most online pdl's are not. They have to have a physical adress in the state to be legal here.

hi soaplady,

@ Blue Sea - answered this in your thread - please try not to double, triple post.. http://www.debtconsolidationcare.com/paydayloan/forum/thread99705.html

Hi SoapLady. I have a question in re Zip19. I sent a C/D e-mail to Zip19 back in Nov/Dec 2012. They sent me a reply e-mail yesterday stating the following...
"If you take a moment to review the attached loan agreement, you will see that Northway Financial Corporation, Ltd. is a Financial Institution licensed and regulated in accordance with the European Union (EU) Directives. As such, the laws of the Republic of Malta (member State of the European Union), not the state of California applies to its terms. We povided you with this notice so tha you would understand the terms of your loan. We are prepared to offer a repayment arrangement in the amount of five (5) egaual payments of $140.00 and a final payment of $139.86 as payment in full of your outstanding loan. This represents the $839.86 balance on your outstanding loan."

My question is, can they legally collect this amount? I do owe them $700, but since they are an illegal PDL and I have already paid them well over the $700 in finance fees, should I still pay them? Any advice would be greatly appreciated.

Thank you.

They cannot legally collect this amount. They are illegal in every way. DO NOT pay them another dime as you have overpaid. Push for a refund. You may get lucky.

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