Pay day Loan Company / Legal or Illegal

Date: Wed, 07/11/2012 - 10:23

Submitted by on Wed, 07/11/2012 - 10:23

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How do I find out if certain lenders are illegal in my state? The Loan Shop out of Delaware, AAA Pay Day loans, and 3 B Pay day loans...I live in the state of Louisiana...

Total Replies: 4

I am quite sure that all the 3 lenders are illegal in the state

I am quite sure that all the 3 lenders are illegal in the state of Louisiana. You can check out the official website of Louisiana Office of Financial Institutions to be 100% sure.

Submitted by on Wed, 07/11/2012 - 23:16

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Thanks! I am pretty sure that they are not legal, because even t

Thanks! I am pretty sure that they are not legal, because even though internet pay day loans are legal in Louisiana, ( I think), they have to follow the Louisiana pay day loan guidelines, which they are not. Our max loan amount should be $350 with a $20 fee per hundred (max) and they allowed me to borrow $600 with a $150 fee....But I will double check this information today with the Office of Financial Institutions in Louisiana. If anyone has any other information,please let me know...

Submitted by on Fri, 07/13/2012 - 07:54

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I just contacted the Office of Financial Institutions of Louisia

I just contacted the Office of Financial Institutions of Louisiana and I am being told that they do not regulate the online pay day loan industry. You need to contact the Louisiana Attorney General's office.

Submitted by on Fri, 07/13/2012 - 08:16

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Attorney General's office had no idea !!! Has to call me back !!

Attorney General's office had no idea !!! Has to call me back !! WOW...

Submitted by on Fri, 07/13/2012 - 08:51

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