State of CT internet payday loans legal or not?
Date: Tue, 08/11/2009 - 15:48
Can someone help me? I have loans out with Loanshop, Discount advances and a really old one from Midland finance. Here is my problem. Our checking account was closed by the bank because of unauthorized withdrawls from ach's debit's I had no idea who they were. I am being overwhelmed by collectors calling and telling me I am going to be sued and they will not work with me for payments. I have no problem paying back what I borrowed. I can't do it on there terms and I am not sure if any of them were the ones making the withdrawls. My bank says because these companies have so many sister companies and other names they use they can not stop them because they have access to my bank information.(( Really stupid on my part!!) I need to know if these internet loans are even legal and what if anything can they do to me?? This Midland finance is over a year and a half old and they were paid back well over what I borrowed. They have been calling non stop and scared me so badly with a legal law suit if I didn't send five hundred dollars that day by five o'clock. He was so rude and just kept saying send it, or open the phone book and pick a lawyer and good luck. I lost my job, have a very sick teenager at home and the house is on the brink of forclosure. I am not a person who doesn't pay my debt, I am so stuck now I have no where to go from here. Any advice would really be great. LESSON LEARNED IN CT!!
Thank you for the information
I have copied the information and am going by that. The loan companies really have a deaf ear when you try to show them that or tell them. I am just worried about being taken for leagal action.
if the companies are not legal, no legal action can be taken
if the companies are not legal, no legal action can be taken
NO payday lender is legal in your state unless they are installm
NO payday lender is legal in your state unless they are installment type of loans and NOT payday loans, it should state either or on your original contract. Click the link below to read your payday loan laws.
http://www.paydayloaninfo.org/state_detail.cfm?id=CT
CLICK HERE to find out how to deal with illegal lenders.
Hi, I did send the letter for the loanshop online and that wen
Hi,
I did send the letter for the loanshop online and that went okay. The problem I have now is with Discount avances. They will not give an email or their address. They said it is for security reasons. When they email it links to an email that says do not reply to this as it is an automated response and it comes back not able to deliver. What do I do to get the letter to them?
bedlackdoll, As Shazzers says, they are ILLEGAL in Ct. except
bedlackdoll,
As Shazzers says, they are ILLEGAL in Ct. except the other type loans. There has to be a phone number you can contact them through. If they are ILLEGAL do as i did and call them and explain the situation and arrange a payment plan you can afford.
In my case it worked very well with two of the three companies I borrowed from. Two of them were very friendly and accepted my payment plan. The one that is a P.I.T.A. is PayDayMax. I over paid 25.00 on the 400.00 I borrowed and now they are trying to get , as someone here mentioned, a bottom line collecter , to try for 200.00 more. The collecter has only called me once at work and on my cell. That was about two weeks ago and good luck to them!!
The Bank of Delaware was a installment loan and I had to pay them. Two payments left to go!!!
Then it will be all over for me!!!! Gl.....
bedlackdoll, Also note that you only have to pay back the amo
bedlackdoll,
Also note that you only have to pay back the amount borrowed.....
In my case I paid back 390.00 on the 300.00 I borrowed. I think the only reason I did was because they were so friendly and really willing to work with me on the payment plan I arranged with them.
Hi, Thank you for the note. I have them through discount advan
Hi,
Thank you for the note. I have them through discount advance and loanshop online. The only people who will speak to me about the discount advance loan is a company called CPD They say they handle all of discount advance loans that are in collections. I called and wanted to know Discount advantages number not cpd and discount advantages license number. I was told they did not have the license number and any information I wanted had to be submited in writing. She told me that the loan was legal and I am legally binded to pay the loan back. I wanted something in writing as to the amount of loan, what was paid to date. All they kept saying was you should have that information, they will not send anything because they do not do that. My problem is my checking account was forced closed because of these companies making random withdrawls, not sure who they are or which company they were from but they were payday loan withdrawls. I don't even know what they have been paid so I can't figure out if I owe them anything at all. Thank you for letting me vent. This really has been a lesson for me!
hello, i just wanted to add that they must have an email and add
hello, i just wanted to add that they must have an email and address. i would bug them everyday until you get it and i seriously would not make payment arrangements until you get an address to send a money order to.
