American Credit line legal in MD?

All payday loans are illegal in MD....follow the link in my signature line for informaiton on how to deal with them....you owe principal only, no fees, no interest.

Thanks for the feedback. Not sure if things are different since it's s credit line not a payday loan. I know Cashnet USA is legal in MD. The website is www.americancreditline.com

I'm curious about this as well. I know they're based out of Houston Texas. But their website isn't very detailed compared to some of those illegal lenders. Either way i believe they'd have to be licensed in your state to lend. Nowhere on their site to they mention licensing or anything of that nature.

Debating sending an letter revoking ACH transactions, but I'm not sure if they're legal in Maryland. Anyone know how I can find out? I have an account with Cashnet USA and they are legal in Maryland.

Maryland Payday Loan Laws - State Legal Status
All lending of payday loans are prohibited in the State of Maryland. I have been on Cashnet USA' s website they are not allowed to loan in Maryland.. you can look here - http://www.cashnetusa.com/fee-schedule.html any type of loan... who told you they were legal there? have you checked with the sate of Maryland to see if they are licensed to lend there? You can check here - Maryland Commissioner of Financial Regulation - you can also check here for American Creditline and any other loan you have -

Thanks for the information. I remember checking somewhere about Cashnet USA and you refereced a link, but there wasn't one. If you could send that I would appreciate it. I'm going to check the sticky notes since I think I saw it there. Also, in another thread someone mentioned they were legal since it's a line of credit.

My mistake - I found the link to search by license by entity name - I selected by entity name and then entered name and selected all categories - http://www.dllr.state.md.us/finance/industry/licsearch.shtml
Here I found Cashnet USA - licensed in Maryland as an installment loan company and as a collection agency- I had to search just as Cashnet -

But when I searched for American Credit Line - - I got nothing.. I used just American an scrolled down the list..

I knew I had seen it somewhere. Thanks for finding it. So basically I have to payback Cashnet USA but not American Credit line?

I would contact Cashnet USA - they may be able to offer you a Extended Payment Plan - the weird thing is from the link above from their own website - shows they don't do loans in Maryland.. As for American Credit Line - I am not 100% sure - they appear to hide behind the line of credit - I am hoping some one else on here can enlighten more - we have determined they are not licensed to lend in MD.. Are these the last two you have to deal with.. I would still revoke their ACH authorizations - you should be in control of how you pay anyway- have you secured your bank account..

These are the last two and I didn't send e-mails revoking ACH since I assumed they were legal. I contacted them and said my bank information changed, but never got back to them. Should I send the same letters I sent to the other lenders? My old account is closed...YEAH!!

I would still revoke ACH authorization and any possible wage assignment regardless of legality..
This is what I sent my legal lenders:
"Contract # XXXXXXXX
Dear Whoever,
I, _______________ hereby revoke authorization of any and all EFT/ACH authorizations by your company to any and all of my personal bank accounts. I also revoke any and all wage assignments I may or may not have signed with your company. "
and sign it...

The weird thing about Cashnet USA - is in the link above from their own website - they don't lend to residents of Maryland.. no fee schedule at all - or for any other state where payday lending is illegal...

I seriously doubt if American Credit Line is legal. Your best bet would be to call the Commission and ask them. They will definitely give you the correct answer.

@bingonut - On Cashnet USA's website - just curious if they are allowed to lend in MD - why are there no fee schedules for MD - it is grayed out just like all other states not allowed to lend in?

I do know that they are legal but not sure why they are grayed out. I did have several loans with them. In fact, their license is still good and is set to expire September 24, 2013. I assume also that this will be renewed. Again, maybe the MD Commission can shed some light on this.

Thanks for all the advice. I am in the process of filing a complaint with the MD Commission and hope to find out more about this.

Yes, please let us know. I am most curious as well!!!

I have dealt with MD Commission. I needed to send in my loan docs along with any emails received as well as any phone conversations. When they start working on your lenders, they will call or email and ask for your bank statements showing the amounts you have paid. They are very easy to work with. As a matter of fact, one of the lenders case has been forwarded to the attorney general for review.

So my payment with ACL is due tomorrow. I never contacted them with my new banking information like I said I would. Should I conveniently forget? I called MD Commission yesterday and left a message, but didn't hear back. Will try again today. When I first contacted by e-mail the person in charge of this department (Michael Jackson) told me to send a complaint in, but when I was online getting the phone number I noticed there is a complaint form as well as other documents needed. Not sure if my letter descibing my experiences will suffice. I only have one loan agreement, but have bank statements. Anyone have experience with MD Commissioner?

Just faxed over my complaint letter and e-mailed the information I had. Unfortunately I didn't keep copies of my loan documents (except for one) and since I am locked out of my accounts I can't access them.

So I did some investigating and found this...http://www.cashnetusa.com/state/marylandpaydayloans.html
Seems that it's "legal" since it's being called a line of credit. I did reference Cashnet USA and ACL in my letter to the MD Commissioner.

Great, they will do everything in their power to help you out. Keep us posted.

I did find this funny " How much does it cost to take out a payday loan in Maryland?" from Cashnet USA's website link above under "I want to know more".. but yet Lending of payday loans are prohibited in the State of Maryland. I'm thinking there is still an issue here that the Maryland Commissioner of Financial Regulation should be addressing.. There are a lot of contradicting statements on that page..

I agree, but there is still the thing that they do have an actual license to lend in the state of Maryland.

I know, I just found it strange - more strange that MD is allowing it...

So I had a payment due today for ACL, but didn't make it. No e-mails or calls...yet. Cashnet USA was due too, but I made arrangements to miss this payment. Hope to hear from MD Commissioner on these companies as well the other 4.

You will hear. It just takes time

Not sure how many complaints they get, but from these forums I've noticed lots of MD residents. Still haven't heard from the lenders, other than Castle Payday.

I have spoken via email and phone with the Commission and have been told that they are very busy with many complaints. Trust me, you will hear from the lenders. Just stick to your guns.

Thanks again for the great advice. Just playing the waiting game.

You are welcome!

It's actually all about waiting now.

So I received a call today from ACL. They said that since my account was delinquent (didn't pay on the 15th) they would take the necessary steps. I still haven't e-mailed them as I am unsure if they are legal or not. Do I send the letter I sent to the illegal lenders or the one suggested earlier in this thread?

Still unsure what type of letter I should send to ACL. Not sure if they are legal and since my bank account is closed they can't withdraw money. Do I just wait for a call from collections?

ACL is illegal. I just checked the licensee database for MD. Just wait for call from collections and then send them a cease and desist.

Thanks for letting me know. I did list them in my letter to MD Commissioner. I heard back and my case has been assigned to an investigator, but they have contacted me yet.

You are welcome. No don't worry but it will take awhile before you hear anything, but do know that they are working for your benefit. Just hang in there!

Just hope they can do something to these scumbags who take advantage of hardworking people who make bad decisions.

Got a letter from MD Commissioner that they received my complaint, but needed more information such as contracts or written communication, bank statement showing the payment transaction and copy of the proof of payment. I had e-mailed the letters I sent the lenders, one contract (One Click Cash) as I don't have the others and bank statements. Guess they weren't given to the investigator. I will mail them this week, but am unsure about the proof of payment and the fact that I don't have all the contracts.

You should have gotten some thing from them all via email when you did the loans or maybe from their websites you can still access as for the contracts.. if you never signed a contract or were given one you will tell the MD commissioner that..The bank should be able to get you copies of bank statements or print outs of the payments made to these companies..

So I can't access my accounts online and I don't have copies of the loan agreements. Doubt they'll send them to me now. I have one from One Click Cash. I do have bank statements and they have you fill out a form giving them access to your bank account. Hope this information is sufficient.

Anything that helps will be great. Just send all that you have.

They have all the information I had. Now I just wait.