not so smart in mn please help
Date: Fri, 10/17/2008 - 19:38
Cashnet usa 1175.00 pd 350.00
cashdirectexpress 244.00 pd 88
IAdvance 390.00 pd 90.00
Paydaymax 593.10 pd 239.4
paydayone 588.00 pd 570.00
any suggestions
fyi my job will NOT tolerate phone calls at work and I could lose my job!
Hello and welcome ! Minnesota allows an Internet based payday l
Hello and welcome !
Minnesota allows an Internet based payday loan company to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in. I am assuming yours are all Internet loans, is that correct? I'm going to post you state laws but just browsing through your list of lenders I can tell you that Payday One and CashnetUSA are usually legal in all the state, therefore you will need to contact them and try to set up some type of payment arrangements. Have you defaulted on any of these yet?
Quote:
Minnesota State Information Legal Status: Legal Citation: Minn. Stat. ???? 47.60 et seq. Loan Terms: Maximum Loan Amount: $350 Loan Term: Max: 30 days Maximum Finance Rate and Fees: $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month) 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: Not Specified Rollovers Permitted: None (cannot repay with proceeds of another loan by same lender) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: $30 NSF fee Criminal Action: Where to Complain, Get Information: Regulator: Minnesota Department of Commerce Address: Division of Financial Examinations, 85 7th Place East, Suite 500 St. Paul MN 55101 Phone: (651) 296-2135 Fax: (651) 296-8591 Regulatory Contact: Kevin Murphy,, Deputy Commissioner |
Cash Direct (GECC) - I believe they are also unlicensed/illegal
Cash Direct (GECC) - I believe they are also unlicensed/illegal but I'm not possitive of that, perhaps someone else will know, keep checking back to see if there are any more responses.
This is for Cash Direct Express/GECC:
Tracy L. Callaway
(302) 737-0926 ext. 302
(302) 737-3873 - fax
tcallaway(at)geccloan.com
CashDirectExpress
Phone: 866-432-2562
Fax: 866-432-2736
Email: Info(at)CashDirectExpress.com
IAdvance- I can't seem to find any info on them.
Payday max - Also known as Credit Protection Depot, I don't think they're licensed anywhere in the U.S.
Paydaymax
support (@) CreditProtectionDepot.com
You will need to get your bank account closed to stop these lend
You will need to get your bank account closed to stop these lenders from debiting your account, but first try to work out some type of payment arrangements with the legal ones, tell them you had to close your account due to some illegal activity on your account. Get a physical address and send them payments via USPS with money orders. I would also send them letter revoking ACH authorization and wage assignments, then show a copy of the wage assignment revocation to your employer.
Thanks for the info! I used to have a pdl with ZIPCASH and when
Thanks for the info!
I used to have a pdl with ZIPCASH and when you go to the website it brings you to IADVANCE saying ZIPCASH is no longer giving loans.
Also, I read that Mn law is changing and as of Dec 1rst all internet pdl companies have to be licensed in MN, will that make a difference to my laons. Cashnetusa sent me an Email saying the State has also changed the law that I have to pay 15% of principle and finance charge?
Thanks for the info! I used to have a pdl with ZIPCASH, when go
Thanks for the info!
I used to have a pdl with ZIPCASH, when going to their website it says they are no longer giving loans and redirects me to IADVANCE?
Also the state of MN passes a law effective Dec1 that all internet pdl companies need to be licensed in MN Does that mean anything for my existing loans.
Cashnetusa emailed me and said new MN law requires a 15% payment on principle along with finance chg?
loanshop and fast money 911
I am reading these comments, and freaking out. I just took a payday loan with loanshop, and am pending approval for romorrow with fast money 911.
Do they take money from your checking account even if you paid the loan with the fee, in full, on the designated pay date?
Loans
Please whatever you need to do Gina do not take out a payday loan, it is not worth it, if you have to borrow money until your next check it will be worth it in the long run, otherwise you will get yourself inthe payday loan trap
I took a loan out from cash direct express for 250.00 fee of 75.
I took a loan out from cash direct express for 250.00 fee of 75.00 for renewal. I have renewed the loan 3 times and just paid the 75.00 each time. I read the laws of minnesota and a payday loan lender cannot legally renew a loan in minnesota what should i do
Quote:Originally Posted by AnonymousI took a loan out from cash
Quote:
Originally Posted by Anonymous I took a loan out from cash direct express for 250.00 fee of 75.00 for renewal. I have renewed the loan 3 times and just paid the 75.00 each time. I read the laws of minnesota and a payday loan lender cannot legally renew a loan in minnesota what should i do |
Cash Direct is not licensed to lend to your state residents, CLICK HERE to find out how to deal with illegal lenders.