Disclaimer on PDL agreement from OneClickCash
Date: Wed, 07/11/2007 - 08:19
Does by signing a Loan Agreement, I have to abide by their state laws instead of my own state laws? Or does the fact that they aren't licensed in my state override that fact?
I believe many of us go by the fact that they are illegal...and
I believe many of us go by the fact that they are illegal...and so then would be the contract. I also know that most of them now have that clause..
They all have that clause . . . . But have you ever heard of som
They all have that clause . . . . But have you ever heard of someone saying they choose to go by the laws of X state as a defense? No, because you cannot pick and choose what laws you want to follow.
Clause
They ALL have this clause. And it's worthless. They think it's "something", but it's not. Internet lending is not even permitted in my state. Collections of an internet loan is not permitted in my state. I was told that this is because the "entity" is not licensed to do business in my state. So their clause and their contract is toilet paper, basically.
I will keep that in mind next time i run out of TP Cannr! LOL JK
I will keep that in mind next time i run out of TP Cannr! LOL JK
Yeah if they are not liscensed in your state then they are operating illegally by lending to you. They do not count on people finding out the laws!
Leah
Thank you, Leah! Leah is exactly right and worded it in plain english. Which is what we all need. Plain english! They put that clause in there in the hopes that people will "believe" it and then the pdl can claim you have to abide by it, blah, blah, blah. However, it's worthless. If they are not licensed in your state & are illegal in your state, their clause can go straight to hell. And when they TELL you about the clause and that you signed the agreement, tough to them on that respect also. You abide by your state laws. They are the illegal ones. Use it as toilet paper.