Can't get info from the DE licensing dept
Date: Thu, 04/20/2006 - 11:04
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I called the DE licensing division, to ask about the one lender I had that is in DE. First, the woman was very uptight with me once she realized I wasn't trying to apply for a license. The company is listed on the DE website as being a "small loan" lender (I searched the licensing database, and Military Financial is listed as "MILITARY FINANCIAL INC
FINANCE OR SMALL LOAN AGENCY"), under the licensed lender category.
First, the state employee tells me that the "small loan" category hasn't been used in 15 yrs. Ok, then why am I reading it online, on the DE code website? She asked for the statute number, I gave it to her.
http://www.delcode.state.de.us/title5/c022/sc03/index.htm#TopOfPage
It says this:
2227. Definitions.
As used in this subchapter:
(1) "Business day" means, with respect to recission under § 2235A of this title, all calendar days except Sundays and legal public holidays.
(2) "Closed end credit" means the extension of credit by a licensee to a borrower pursuant to an arrangement or agreement which is not a revolving credit plan as defined in subchapter II of this chapter.
(3) "Conspicuously displayed" means highlighted through the use of capitalization, bold print, underlining or some combination thereof.
(4) "Loan" means any single extension of closed end credit.
(5) "Right of recission" means, with respect to any short-term consumer loan, the right to return any amount borrowed, in full, on or before the close of business of the business day following the day on which such sum has been disbursed or advanced without the incursion of any fee or other charges.
(6) "Rollover" means, with respect to any short-term consumer loan, the extension of an outstanding and unpaid indebtedness beyond the stated repayment period solely on the basis of the payment of a fee without approval of a new loan application.
(7) "Short-term consumer loan" means a loan of $500 or less made to an individual borrower that charges interest and/or fees for which the stated repayment period is less than 60 days and is not secured by title to a motor vehicle.
The lady told me she couldn't find anything under definitions beyond #2. So I just pulled it out of my butt?? Then I said something about just wanting clarification about the DE code, since it didn't matter much because the company isn't licensed in VA. blahblah they don't have to be licensed in VA. Oh really? That's not what the VA AG says. Especially since they advertise in print media, in Virginia. They are not just an internet lender, they lend over the phone too.
I know most govt employees are super nice to consumers, but this lady was just uncalled for rude. I was being nice, asking for clarification/ explanation of terminology, and she actually raised her voice at me. eh I hung up the phone on her.
Dana
What a B! Heck with her...Call back another day and hopeful
What a B!
Heck with her...Call back another day and hopefully you'll get someone else.
I read somewhere on ftc.gov or something like that, there was a
I read somewhere on ftc.gov or something like that, there was a link where you could search licensing online in your state, maybe it was a link through the AG office. I will post it if I can find it again.
The question posted of the thread haunts me every day. I work fo
The question posted of the thread haunts me every day. I work for American Express. When I recieved a message on my answering machine to apply for them, I was told that I would be taking calls from happy customers who want to activate their new prestigious credit cards. This lit my fire! So I applied and was hired. Now here I am wondering, if they are so happy, why are they so f-ing rude and obnoxious? Why do people have to piss on those who work for the public? Whatever happened to common courtesy and respect for your fellow person? Why are there people all over the place who **** and complain not because they have a legitimate issue, but for sport. I'm so sick of it and it's making me want to take a vow of silence and join a cloistered convent. Then I'll be Jedi Nun Ari.
[color=Red]****Adult term removed - Jason[/color]
Ari, oh no, I hope you didn't take my post as meaning that I was
Ari, oh no, I hope you didn't take my post as meaning that I was trying to be rude to her. I had no problem with her, until she started yelling at me. I don't have to put up with someone yelling that it's the person's job to know the law, and how dare I question her. All while I'm reading the text of the law. I gave her the citation number, and she wanted to continue agruing. I thought about waiting for her to calm down a little, then realized it was useless because she must just be having a bad day in general.
I worked for a very large credit union for almost 5 yrs, and I know what it's like to work for the public. While I was in college, I worked fast food and at a gas station, so I don't demean anyone for whatever job they have. I know better than that.
Of course, I could just be misreading your post. Sorry if I caused any irritation.
Set4sail, I didn't mean you. I read your post, and about the par
Set4sail, I didn't mean you. I read your post, and about the part of her being rude. I know you're innocent! I just vented a little, wishing that all the pissheads of the world would just die already!
JJ, I'm not serious about joining a convent, I am a married woman you know. I just really think society in general should do well to polish it's manners and treat people how they want to be treated.