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Is Cash Advance USA legal in Florida does anyone know?

PDL laws in Florida: -

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

You can get information on Cash Advance USA from ceusa-letter.html .

Sub: #1 posted on Sat, 08/30/2008 - 04:28

phoenix phoenix
(Posts: 1445 | Credits: )

Sorry but that doesnt really answer my question are they legal and how do I find out if they are or not?

Sub: #2 posted on Mon, 09/01/2008 - 18:52


Try checking this web site....Look to see if they are licensed. I tried by the security settings on the computer I am working at would not let me access this...

http://www.flofr. com/Downloads/licensecheck.htm

Sub: #3 posted on Tue, 09/02/2008 - 05:28

RoxyNY RoxyNY
(Posts: 4178 | Credits: )

what category would they fall under?

Sub: #4 posted on Tue, 09/02/2008 - 10:19


Some internet lenders are licensed in Florida as Credit Service Organizations and are not listed under the name they trade as, but under another name. I do not believe that Cash Advance USA is licensed here as a CSO. The Florida laws posted above do not pertain to the Internet lenders, they are written for the storefronts. The Florida Consumer Financial Act Chapter 516 is what is being used as a guidline. It was recently amended by legislation and I am waiting for an interpretation from Mr Sam Whited of the FLDFS. As soon as I get it I will post it. But it does say that all lenders must be licensed in Florida regardless of their geographical location. Loans by unlicensed entities are deemed uncollectable. You can call the FLDFS and get 6 different answers from 6 different people which make it a very frustrating encounter with ignorance. Its like asking the conumers affairs depatment if something is advertised 7 for 10.00 how much should one cost. You will get 5 different answers.

Sub: #5 posted on Tue, 09/02/2008 - 10:33

Frogpatch Frogpatch
Moderators Cum Industry Expert
(Posts: 5382 | Credits: )

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