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I currently have 5 payday loans. I would like to know which ones are legal for Florida. They are all from the internet. I have taken the first step and closed my checking account.

They are as follows:

Paycheck Today
Loan Shop
Payday Online (I have already received a threatening letter, which looks like a kid addressed the envelop)


Hi sh0762,

Can you please tell us how much each loan was and how much you have paid to date. I am posting your law's for FL:

Florida State Information

Legal Status: Legal

Fl. Stat. Ann. ???? 560.401 et seq.; Rule 69V-560.901-912

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes

Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748
Regulatory Contact: ,

Emails to and from the DFI:


Do internet based payday loan lenders with no physical location in FL need to be licensed by FL to lend legally to FL consumers? I am trying to help a friend with a huge mess. She has several internet payday loans, and they are saying that they only have to be licensed in their state, and that they can follow the laws of their state, not FL's laws. What is correct? Any information would be very much appreciated!



She can file a complaint through our website at and under 'helpful information' click on file a complaint. Then click on
finance related and you can download the form. Or click on money transmitters and call the 1-800 number. The Office will review her complaint when received. All lenders must be licensed by Florida, regardless of location, however, the current payday loan laws in place do not address internet businesses. The department is currently looking at other laws to apply to them.

She may also wish to contact Legal Aid in her area, to determine what recourse she may have.

If you have further questions, please contact this Office.

Office of Financial Regulation
Pam Henley
Financial Speci alist
(850) 410-9805

What does this mean?

Internet based companies must be licensed by FL.

No Rollovers are allowed.

Since you have already closed you account, the next step would be to determine if the companies are legal or not, if they are not legal you need to send them a letter revoking your authorization to contact you by phone at home or work, contact your references or any wage assignments that you might have signed. Someone with a little more experience should be along to help.

Sub: #1 posted on Fri, 09/12/2008 - 12:00

dawnlango7 dawnlango7

(Posts: 1147 | Credits: )

I can only give you one, will get you the rest later.

Payday Online - Loan amount was $300, have paid to date $630.

Sub: #2 posted on Fri, 09/12/2008 - 12:14


I can only give one at this time, which is Payday Online.

Payday Online
Amount of loan - $300
Amount paid to date - $630

Sub: #3 posted on Fri, 09/12/2008 - 12:17


Sorry to have posted this twice, still new to this and forgot to log in first! :)

Sub: #4 posted on Fri, 09/12/2008 - 12:19

sh0762 sh0762

(Posts: 27 | Credits: )

Well I can tell you that if Payday Online is illegal then you have overpaid them and they actually owe you a refund of $330. Hopefully someone will be along to help determine if the companies are illegal or not

Sub: #5 posted on Fri, 09/12/2008 - 12:21

dawnlango7 dawnlango7

(Posts: 1147 | Credits: )

Well first off, there are no rollovers allowed in your state, did you continue to renew your loan?

Check with your state licensee website each state has one, just google it. And BIG is ILLEGAL EVERYWHERE, they aren't even in this country, just put that name in the search engine up top and see just how nasty they are

Sub: #6 posted on Fri, 09/12/2008 - 13:39

danilewis82 danilewis82

(Posts: 296 | Credits: )

I received from PaydayOnline in the mail yesterday stating a repayment plan of ten $42 every 2 weeks starting 9/26. That totals $420 more than I have already paid. Also there address is from Yuma, AZ.

For Loan Shop Online they say I owe them $390. I calculated when I took out the loan and I have paid them $720.00. Does anyone know if they are legal in Florida?

Sub: #7 posted on Tue, 09/16/2008 - 06:34

sh0762 sh0762

(Posts: 27 | Credits: )

I was looking at other threads and I don't believe that Loan Shop is licensed in FL.

Sub: #8 posted on Tue, 09/16/2008 - 09:20

dawnlango7 dawnlango7

(Posts: 1147 | Credits: )

350.00 loan Paid Well over $400.00 in interest, and now paying $90 interest every 2 weeks, and then $50.00 every 2 weeks to paydown loan. Is this right????

And qloot! Ive been paying since MAY 2008, $100.00/bi-weekly, $400.00 loan, and to date I still owe $400.00 . They just renew my loan every other week, no questions asked.

Sub: #9 posted on Tue, 09/16/2008 - 10:13

kevang1996 kevang1996

(Posts: 2 | Credits: )

I wanted to let u know I live in FL, and I called Impactcash today to complain about overcharging interest, and they transferred me to the legal department. I spoke with Emily, and she said since I have been paying my loan on time, never missed a payment, they will close my loan out, IN FULL! $325.00 GONE, LIKE THAT. I logged on to my account to verify, and it said Loan Status: CLOSED! Tell them u live in Florida and 390% annual interest is the max the law allows, and they have gone WAY over.


Sub: #10 posted on Tue, 09/16/2008 - 19:35


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