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Date: Tue, 01/22/2013 - 09:42

Submitted by Jean
on Tue, 01/22/2013 - 09:42

Posts: 6 Credits: [Donate]

Total Replies: 4


I read somewhere, and for the life of me I cannot locate it again, that a contract is governed by the state it was signed in. With these internet lenders, the loan is signed in one state by the person getting the loan, yet the company is in another state. That means to me that the laws of MY state will govern the validity of the contract no matter what state the contract claimes to fall under in regard to law. Do you have any idea where I can find the information I need?


I have done all my groundwork and sent letters to both companies I have dealt with. I have filed complaints with my State Attorney General, the Ky. Dept. of Finance, BBB and FTC. The Ky. Dept. of Finance issued a Cease and Desist to the two companies I dealt with.


lrhall41

Submitted by Jean on Wed, 01/23/2013 - 07:38

( Posts: 6 | Credits: )


I don't think I phrased my question properly. I have a payday loan with East side lenders, out of Delaware. I am in Kentucky. I know they are not licensed in Ky. and under Ky law the contract is void BUT my question is...since the contract stipulates that the loan is under the jurisdiction of Delaware, what are their options? Is there some law or statute somewhere that states that the state the borrower resides in is the state that governs the contract?


lrhall41

Submitted by Jean on Wed, 01/23/2013 - 05:44

( Posts: 6 | Credits: )


their options are to lie,bs,and buffalo you with verbage about "governing law"which is stupid,bogus,and useless.your state law prevails,and they know it as all illegal lenders do.the contract is worthless.


lrhall41

Submitted by paulmergel on Wed, 01/23/2013 - 05:54

( Posts: 15514 | Credits: )