licensed to do business in NC

iknow,

According to NC law, payday loans are illegal. Period. Legislators allowed the law to expire last summer, and the NC DOJ is battling the last companies that were licensed in the state. If they wanted to continue operating in NC they had to get licensed as a finance company, and be bound by NC usury laws.

Storefront lenders signed agreements with the state AG's office to stop collecting interest and fees, and only what is left of principal could be recovered.

What if I am living in NC but get online loans from these horrible companies from outside of my state? Can they still threaten me?

No matter where the online lender is from, they are illegal in NC. But you have the upper hand by saying that payday loans are illegal in my state and you are in violation of the lending laws of North Carolina.

Thanks for the information!! Here is my plan of action:

Stop direct deposit at work.
Close the account.
If they call me, I will tell them that I will only send them money orders WHEN I HAVE THE MONEY!!
Get on with my life.

I had a payday loan that i went delinquent on and the collection agency for the loan companyis threatening to call the da for the county I live in and having me arrested for passing a bad check. I faxed him a copy and they have never tried to put the amount of the check through thye did attempt to put it through on the same day with two figures totaling the maount of the check. Can I get arrested for that?

You will not be arrested or charges be filed for a bad check. Is this an online lender? If so, did you have to fax a voided check when you took the loan? Either way there is no check fraud involved, civil matter at best.

I did tsend them a check - though it did not say viod. The porcess it in two seperate amounts on 12/24. One part of it went thru and the other part did not. Can they garnish my wages for this?

Sonic Payday sent my employer a packet to garnish my wages - without going thru court - can they do this and if not is there some legal documentation that I can print to show my empployer? I live in North Carolina

They have to get a court order to garnish wages. North Carolina is one of the states that has banned pdls. What you digitally signed with Sonic was a wage assignment. Wage assignments have to be signed in person.

The collection agency for the payday loan has faxed me a Complaint for Warrant for my arrest. CAn they do that in NC??

Connie,

Be assured that you can't be sent to jail for not paying the debt. You might like to talk with the lender and get some payment arrangements. If you are able to set up a plan with them, you won't need to work with the CA.

It is against the federal laws to threaten with jail. You must report the CA to the local AG's office as well as the FTC and the BBB and put an investigation on them.