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Date: Thu, 07/15/2010 - 18:41

Submitted by anonymous
on Thu, 07/15/2010 - 18:41

Posts: 202330 Credits: [Donate]

Total Replies: 12


I currently have 5 internet payday loans. They are with Payday Max, Cashnet, Impact, First Bank of Delaware, and Paradise Cash (intl equity grp). I live in the state of SC. Can you tell me what would happen if I closed my bank account and did not pay?


Your payday loan laws are below:
paydayloaninfo.org/stateinfo/SC.asp
Is is Cashnet or Cashnetusa, there is a difference because one is a legal lender and the other is not.
The lenders below are NOT legal in your state:
Payday Max
Impact Cash
Paradise Cash
CLICK HERE to find out how to deal with illegal lenders.

Cashnetusa is a legal lender but will allow you to make payments if you request and extended payment plan
Cashnet is not legal, this is why I need to know which one it is.
First Bank Of Delaware is a bank, the payday loan laws do not apply to them so they are legal also.


lrhall41

Submitted by Shazzers on Thu, 07/15/2010 - 18:54

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Thanks! Yes, it is Cashnet Usa. Sorry. So, if I close my account and make new arrangements with Cashnet Usa and FBDL, there will be no legal ramifications for the other 3 that aren't legal in my state?


lrhall41

Submitted by on Thu, 07/15/2010 - 19:00

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Quote:

Originally Posted by Anonymous
Thanks! Yes, it is Cashnet Usa. Sorry. So, if I close my account and make new arrangements with Cashnet Usa and FBDL, there will be no legal ramifications for the other 3 that aren't legal in my state?

Nope, read the link I gave you on how to deal with illegal lenders, all you owe the illegal lenders is the principal amount you borrowed to begin with, less any payments you have made already. If you over paid, then you should pursue a refund, it doesn't hurt to try!


lrhall41

Submitted by Shazzers on Thu, 07/15/2010 - 19:03

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Thank you so much for your help!


lrhall41

Submitted by on Thu, 07/15/2010 - 19:04

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According to my SC state laws, the max amount for a loan is $300. What if a legal lender in my state loaned more than that amount? Also, what if I renew the legal lender's loan for more than the 31 days? My state law shows loan term 31 days.


lrhall41

Submitted by on Thu, 07/15/2010 - 19:10

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Quote:

Originally Posted by Anonymous
According to my SC state laws, the max amount for a loan is $300. What if a legal lender in my state loaned more than that amount? Also, what if I renew the legal lender's loan for more than the 31 days? My state law shows loan term 31 days.

What type of lender? Are you sure you are talking about a payday lender? Keep in mind that the laws at the link above are payday loan laws.


lrhall41

Submitted by Shazzers on Thu, 07/15/2010 - 19:14

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This one would be CashNet USa. My original loan amount was for $1350.


lrhall41

Submitted by on Thu, 07/15/2010 - 19:16

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Once again, thank you for all of your help. I have lots of info and somewhere to start. Greatly appreciated


lrhall41

Submitted by on Thu, 07/15/2010 - 19:22

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