Do internet loans need to be licensed or not in Lousiana?!
Date: Thu, 05/31/2012 - 09:18
I am really confused and frustrated! The Office of Financial Institutions has said that Internet PDL's do not have to be licensed in Louisiana or Regulated. Yet in the link above, it says that internet lenders have to be licensed.
PLEASE can you PLEASE, I am BEGGING HERE. Give me the details on how you found this out?!
I'm trying to get us out of the roller coaster my husband put us in and we can't afford! Please, Please, Please help.
I need to know how to deal with PD One, as I have no money to pay them. Cash Central is legal, I sent them a ACH revoke email with a payment arrangement request $125 a month starting in June. Magnum I know is offshore and have not heard anything from them! I don't even have their email address.
I'm clueless on what to do with Cash Call who bought Western Sky and oh by the way they have 2 pulls from Western Sky and Cash Call on my husbands credit report!
Any help would be greatly appreciated by myself and sewsewgrandma who is also from Louisiana looking for help!
Thanks!
You will have to pay both the principal and interest, if your le
You will have to pay both the principal and interest, if your lenders are licensed in your state. But if they are illegal, then you can get rid of this trap by paying back only the principal amount. Both Western Sky and Cash call are illegal lender. Close your bank account asap to stop unauthorized withdrawal. Ask them for a refund, if you have overpaid them. Look at this page to know about how to deal with illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
As far as legal lenders are concerned, you may try to negotiate with them. If possible set up a payment arrangement with them.
If you have paid off the principal amount of the CashCall/Wester
If you have paid off the principal amount of the CashCall/Western Sky loan, tell them to go pound sand if the call again.
As for PaydayOne, there is nothing much you can do except for try and work out an extended payment plan. PaydayOne is a CSO and not what you would classify as an internet lender.