payday loan help
Date: Mon, 12/15/2008 - 19:10
Ameriloan: $325
Avantis Financial: $125
Payday-loan-yes: $390
United Cash Loans: $390
Worldwide Cash: $289 (does anyone know anything about this company? They said I cannot pay down I have to pay it all or keep paying the $89. I received this loan in July and I have paid them well over the principle amount of $200)
I don't mind making arrangements with these companies, but they are very uncooperative.
p.s. I live in Missouri
Missouri requires Internet based pdl's to be licensed by your st
Missouri requires Internet based pdl's to be licensed by your state. I can tell you just by looking at your lender's list most of them aren't licensed to lend in your state. I'll double check.
Quote:
Missouri State Information Legal Status: Legal Citation: Mo. Rev. Stat. ???? 408.500 et seq.; 4 Mo. Code Regs. ???? 140-11.010, 140-11.020 Loan Terms: Maximum Loan Amount: $500 Loan Term: 14-31 days Maximum Finance Rate and Fees: Not Specified (No borrower shall be required to pay a total amount of accumulated interest and fees in excess of 75% of the initial loan amount on any single authorized loan for the entire loan term and all authorized renewals. Otherwise, interest is set pursuant to small loan law which provides that parties may set rate by contract.) Finance Charge for 14-day $100 loan: $75 apr for 14-day $100 loan: 1980% Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: Six (borrower must reduce principal amount of loan by 5% or more upon each renewal) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: NSF fee; Collection costs (including court costs and reasonable attorney's fees) Licensee cannot use a series of ACH transactions to collect a single check. Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker) Where to Complain, Get Information: Regulator: Missouri Division of Finance Address: Consumer Credit Section, P. O. Box 716 301 W. High Street Jefferson City MO 65102 Phone: (573) 751-3242 Fax: (573) 751-9192 Regulatory Contact: Joe Crider,, Supervisor, Consumer Credit |
Avantis Financial - I'm not sure about this one, keep checking b
Avantis Financial - I'm not sure about this one, keep checking back, someone else may have some info to offer.
ameriloan is not licensed anywhere in the U.S.
3531 P Street NW Miami, OK 74355
Phone 800-362-9090
Payday Loan Yes -Not licensed!
Oranyan House Shirley Street
P.O. Box SS 19935
Nassau, NA
Bahamas
8005506051 Fax -- 8006057419
United Cash Loans are part of MNE and are not licensed anywhere.
UCL (800) 279-8511
3531 P Street, NW
PO Box 111
Miami, OK 74355
World Wide Cash Now (Telmerica) - I don't think they're licensed in your state, I believe they are licensed in Delaware.
2207 Concord Pike #449
Wilmington, DE 19803
I hope the information below will help you. :) You are only obl
I hope the information below will help you. :)
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
[quote]What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE
What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.
File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.
Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.
Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/quote]