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Payday Loans Illegal in Pennsylvania

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I found this information on the internet. Being that they are illegal, is there anything that I can do to not make payments to them, being they are illegal companies? I added some information but am not sure if I did it correctly.




My attachment did not work. Can someone tell me how to do it? What I did was pull information from the internet, similar to what the other mediators are attaching.

Sub: #1 posted on Tue, 03/04/2008 - 09:10

Bayley5 Bayley5

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If a pdl is licensed anywhere, they are considered legal in PA. You need to find out if your lenders are licensed.

Sub: #2 posted on Tue, 03/04/2008 - 09:11

kashzan kashzan

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I just looked up pay day loan yes on the internet and cannot find any licensing information on them. How can I stop them from calling me at work? I just sent them an email to their "concern" email address to request my paperwork.

Sub: #3 posted on Thu, 04/17/2008 - 09:18

Bayley5 Bayley5

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No PA had a domicillary law that any business that lent money must be in PA. However they have recently changed that law and all pdl's (even those over the internet, through the mail) must be registered and licensed in the state

Sub: #4 posted on Sun, 08/31/2008 - 16:45

Unregistered


They didn't change the law, Guest. The PA Department of Banking issued a policy statement changing its interpretation of a very old law concerning consumer loans. (The same law the Department said in 2005 doesn't apply to lenders outside of PA as long as they are licensed somewhere.) The new policy doesn't go into effect until February 2009, so as of today kashkan is correct.

Sub: #5 posted on Sun, 08/31/2008 - 21:12

FreakyFriday FreakyFriday

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