Dealing With Unlicensed Payday Lenders

also other sites say there are no specific laws governing NJ .is that true

where can i find the law prohibiting pay day loans. to insert in the template

Are internet payday loans illegal in Oregon?

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I would just like to THANK every person on this post. Has been the savior i have been looking for..Never again will i fall in same financial mess. Shazzers YOU ROCK

Shazzers YOU ROCK

Question: A clerk who I talked to today said her brother is a financial "advisor" and said all out-of-state loans. including PDLs are legal in NY. He claims that only loans originating in NY are illegal. But I beg to differ.

what is pa laws

We sent this sample letter (with our information) to one of our payday loan companies and this is how they responded:

I appreciate you getting in contact with me. At this time because of your threat to not pay Nationwide Cash, Inc the loan you owe i will proceed with action. Please be advised we are bonded by federal law which supersedes your state law. Once you look up this information you can feel free to get in contact with me. Nationwide Cash, Inc is not located in Delaware. Our headquarters is in the Grenadines. I look forward to your call. Your loan will default if no payment arrangement is created.

How do you suggest we respond?

We sent an email to one of our PDL companies when we found out they are not licensed. We sent the form letter from here letting them know that we we not pay any more to them as we have paid well over the amount. Below is their response. What should we do now?

I appreciate you getting in contact with me. At this time because of your threat to not pay Nationwide Cash, Inc the loan you owe i will proceed with action. Please be advised we are bonded by federal law which supersedes your state law. Once you look up this information you can feel free to get in contact with me. Nationwide Cash, Inc is not located in Delaware. Our headquarters is in the Grenadines. I look forward to your call. Your loan will default if no payment arrangement is created.

they are lying to try and either scare or BS you.there are no federal anything when it comes to these loans.proceed as you were by the way the fact that they are located in grenada makes them illegal.again they are lying through their teeth.do not worry or change what you are doing.

Greatest joke "Please be advised we are bonded by federal law which supersedes your state law". Tell them to send you more such stories. That will not change the illegality of the loan.

[QUOTE=Anonymous;763804]We sent an email to one of our PDL companies when we found out they are not licensed. We sent the form letter from here letting them know that we we not pay any more to them as we have paid well over the amount. Below is their response. What should we do now?
I appreciate you getting in contact with me. At this time because of your threat to not pay Nationwide Cash, Inc the loan you owe i will proceed with action. Please be advised we are bonded by federal law which supersedes your state law. Once you look up this information you can feel free to get in contact with me. Nationwide Cash, Inc is not located in Delaware. Our headquarters is in the Grenadines. I look forward to your call. Your loan will default if no payment arrangement is created.
[/QUOTE]
I would tell them to come get me.:mad:

[QUOTE=Shazzers;393470]Updated on July 14, 2010: At the bottom of this post is a newer version of a letter template which you may or may not want to use, make sure you use your own words, this is only a sample.
If everyone will just give a link to this thread to the new members who come here for guidance it may be more helpful and less work for the experienced members who are researching information. I wrote this awhile back and am most happy to share it. THANKS!
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.

What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE
What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.
File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.
Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.
Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/QUOTE]


I'm a California resident.... Question--what if a payday lender is not only unlicensed in California, but also has a Cease & Desist order against them by the Calif. Dept of Corporations?

I live in pennsylvania and i have taken out 4 payday loans. I cant afford to pay all them at once anymore. Please help
US [URL="http://www.debtconsolidationcare.com/settlement/thread88395.html#"]Fast Cash[/URL] $400.00 paid back $480.00
One Click Cash $400.00 paid back $650.00
CMG Group LLC $250.00 paid back $850.00 (yep thats the correct amount paid back, evertime i email them to [URL="http://www.debtconsolidationcare.com/settlement/thread88395.html#"]pay off[/URL] the loan they hang up on me.)
SGQ LTD $200.00 Paid back $480.00
Please help, I dont want to close my bank account. Do you think my bank will help me from stopping them from withdrawing money?

[QUOTE=hjab_81;764415]I live in pennsylvania and i have taken out 4 payday loans. I cant afford to pay all them at once anymore. Please help
US [URL="http://www.debtconsolidationcare.com/settlement/thread88395.html#"]Fast Cash[/URL] $400.00 paid back $480.00
One Click Cash $400.00 paid back $650.00
CMG Group LLC $250.00 paid back $850.00 (yep thats the correct amount paid back, evertime i email them to [URL="http://www.debtconsolidationcare.com/settlement/thread88395.html#"]pay off[/URL] the loan they hang up on me.)
SGQ LTD $200.00 Paid back $480.00
Please help, I dont want to close my bank account. Do you think my bank will help me from stopping them from withdrawing money?[/QUOTE]Not likely. Check the specific laws pertaining to Payday loans in your state and I'd hate to say it, but the best thing right now you can do is close your account.

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Payday loans company is running my life. I have several PDL lenders such as Titan Group LLC,Sagamore, Pack Managment, Loan Point USA. Could you let me know if these company are legal in Hawaii, these PDL are all from online. Please help!!

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I live in Washington State and I have 5 online loans. Two of them I have paid above and beyond so I sent them the letter and put a hard block at my bank. They are TIOR Capital and Liberty Group LLC. They tried to debit the monies from my bank and when they couldn't about a week later I got an email stating that they were sending me to collections. Then two days ago I received two emails from a National Credit Adjusters from KS stating that they have been unable to make voluntary arrangements with me to collect the debt and have now turned it over to a legal firm of Lombardo. Saturday (10-30-10) I got a voicemail from the Lombardo "law firm" stating I have two complaints associated with my name and SS# and that I needed to contact them. If I did not contact them I would be served with papers.

Then last week I went into my bank and put a hard block on Platinum Finance LLC, and told the clerk that the debits come out as Platinum Cashlin Collections. He said that all he needed was the name of the company. I mentioned three times how the ACH's come out, but he kept saying he only needed the name of the company. I sent Platinum Finance LLC the letter as well. Friday I checked my account and seen that Platinum CashLin Collection had a pending ACH on my account..not only a pending ACH but for $40 more than what they were originally debiting for a total of $160. I called my bank and they said it would go through because the company changed their name from what they put on the block. I told them that I had mentioned three times the company name AND how it appears as the ACH. I am now going to shut down my account with them, but I am wondering what I should do about the National Credit place and the so called law firm of Lombardo and goldstein or something like that.

Additonally I have a 500fastcash that I will be sending a letter to this week after I close my account since I am way above and beyond the payment and fees legal for WA State, but I am worried about my new account because there are two additional loans that I feel I still owe money to, so I will have to give them my new account to pay them off.

My bank finally blocked / reversed the charges from Platinum Finance and by 5 am the next morning I received this email... they act as though they never received my letter to them

[QUOTE=Anonymous;765555]My bank finally blocked / reversed the charges from Platinum Finance and by 5 am the next morning I received this email... they act as though they never received my letter to them

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Has there been any history of someone actually being sued in court by the Lombardo, Davis, and Gold(something)? I have two PDL's that went to them even though I have them paid per Washington State law...and I am going to be sending Platinum another email to cease

I plan on standing my ground, but not knowing what will happen is kind of nerve wracking

Thank you OhioGirl and Shazz... I will stand firm and be done with all this sooner or later.....then never again....EVER! I am a firm advocate against them now and will help others any way I can

I have 3 pay day loans and live in Florida: Paycheck today $ 400
VIP CASH DES: $300
National Money Store $ 500
are these lenders lic in Florida??? Please help

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I have so many out and I got overwhelmed and closed my Bank account before they could start any ACH it felt like my paychecks were going to interest. I am in Oregon, I am on the verge of filing Bankruptcy I have a repo 8 credit cards in default tons of med bills but anyway. which of these lenders are legit

PaydayOne $200 owe $365
CashNetUSA $200 owe $246.12
United Cash loans $200
One Click Cash $250
Cash Yes $paid $75 every other week on $250 loan
247 Green Street $450 borrowed $250 for a week
FBD Loans $1600 paid over $5000 kept paying off and then having to renew
I think there is one more but I can't find the info I was already Garnished earlier this year from Cash Connection they moved on me fast I ended up paying $565 for a $200 loan that would have cost me $226.00 if I would have paid it back in time well that is my dumb life.

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Is there anyway to deal with unlicensed payday loan lenders other than closing your bank account? I've been with my credit union for close to 20 years.

Also, where can I verify that a lender isn't licensed. I looked here: http://www.dora.state.co.us/pls/real/bidS_Search.Search_Page

Does that seem right?

I have loans with
Big Sky $325
United Cash $390
Red Stone Financial $400
Zip19 $500

I've cancelled my direct deposit for my paycheck but I'm not sure what the next steps should be....

Any help is appreciated. I'm struggling with two kids and no child support. I had to take the loans out to cover closing cost when we sold the house after divorce.

Thanks
Sam

We live in Pennsylvania. It seems over the past year both my fiance and i have gotton one payday loan to payoff another. We are typically paying about have of what we would pay just in payments along a month of our total payday loan debt amount. Total comes to about $3,000. We are paying almost $1700 in just payments along a month and the total amount of the payday loans never seem to go down. Desperatly looking for a way to pay them off without being broke and having to extend the loans each and everytime. are any of these payday loans legal in the state of PA? any suggestions on how to pay them off without just making the min payment each time - which does not seem to be working.

MYPAYDAYLOANS
EASTSIDE LENDERS
AMERILOAN
MMG
FBDLOANS OR FIRST BANK OF DELEWARE, ALSO GOES BY THINKCASH
ONECLICKCASH
USFAST CASH

Hi, I live in new york and have 9 payday loans. I am in way over my head and cant pay them off.
1. DMA Financial Inc or VIP - 400
2. Lakota Cash - 480
3. Ameriloan - 200
4. Hushhawke Group - 510
5. Loan Shop - 850
6. Galaxy marketing - 475
7. Nationwide Cash - 315
8. zip19.com - 460
9. vince enterprises - 385.00

I need some advise. I know pay day Loans are illegal in NY. What steps should I take to avoid the harrassing calls and pay off these accounts. I closed my bank accountand would like to pay them off. Which I think I already did with all those loan extensions. thanks for any advice you can give

Sumbrawd, Ask your CU if they will assign you a new account number and not link the old one to the new one.

FBD is an installment loan and is legal. All your other lenders are illegal. Follow the advice on the first page of this thread.

Follow the advice on the first page of this thread.

I sent the letter your site recommended ans got this response in ten minutes from Hushhawk Marketing(borrowed 300):

Since we are not located in your state we are not subject to their laws, you are legally obligated to pay us back per the contract you e-signed.


The renewal fees alone is way more than what I borrowed. How should I respond to them?

I emailed the letter the site recommended and this is the response I got from Hushhawk Group within ten minutes:

Since we are not located in your state we are not subject to their laws, you are legally obligated to pay us back per the contract you e-signed.


I originally borrowed $300 and the renewal fees are way more than what I borrowed. Now they say I owe $510. How should I respond to their email?

hi, i am in nh and i foiund out through the state banking department which governs lenders. they have a lost of lenders in which they cannot lend and have dease desist orders on them. this is for nh, but i am sure they have a website for the state of ma.

http://www.nh.gov/banking/index.html

good luck!

FBD(First Bank nof Delaware) isn not licensed for the state of new hampshire. please use this link to find other state banking department to verify if your pdl are licensed for your state. you can file a complaint and the state banking department will go and investigate the lenders you list.

http://www.nh.gov/banking/index.html

and

http://www.paydayloaninfo.org/

good luck!

eastside lenders and 500 fast cash are not even in the usa! they are in the west indies. definitely not licensed in your state.

try filing a complain on these lenders, but before you do, check with the your state banking department to verify if bany of your lenders are licensed to lend in your state. they will tell you if they are or not. if not licensed, then, file a complaint and submit all your payments made to the lenders and promissory notes and anythign else you think would be useful for the state bankign departemnt to investigate. the government dont know about these loan sharks until the consumers say something.

i believe you will get a result. in the interim, i hope you send a letter to them (PDL) indicated in this thread and stop paying on the loans. you probably have paid the principal and can prove it. also include any refunds of amounts you have paid beyond the prinicpal loans and ask for it in your complaint.

I have 2 loans one is Sure Advance Loan and one is QXLONLINE.com PAYDAY LOAN. I can't get ahold of anyone to pay theses off. I got the loans the last of May one was for $200 and I am still paying on it. Please help me. I am from Indiana. What are the laws here or where can I find out about them... Thanks for any help.

THANKS BOOP. THIS REALLY HELPED.:p

I am trying to figure out the best way to attack the payday loans I have. I currently have:

CashJar - owe $550
Think Cash - owe $600
Upfront Cash - owe $450
Upfront Payday - owe $585
EZ Payday - owe $325
Lakota Cash - owe $292

I live in the state of VA....are any of these lenders illegal? Would it be best to work with a consolidation company?

Is VIP Cash legal in Iowa?

is everest loan illegal in CA.??

I have 4 outstanding payday loans. Please advise on what I can do to get out of this trap.

I have paid well over the amount due on all but 1 of them but have yet to make a payment on the principle on any of them. Are any payday loans legal in PA? If so is there a way to find out which if any of these are legal?

Hi Iam in pa I have 3 loans
I do not know the amount I borrowed But I have been payibg for a long time over a year
paydaymax
oneclickcash
magum
One is saying I owe them almost $2000 with interest that is magum please let me know what to do

Hi I sent the letter to advance me today seeing as how they are illegal in NYS and no one has answered me... I am going to close my back account tomorrow in hopes they will not be able to take any money from me... what should I do?? They are e-mailing me telling me that my account balance has gone up like $100 and I'm nervous

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Hello -

I spoke with the DFI in Michigan about ThinkCash - FBD of Delaware and she told me they were not licensed in the State of Michigan. I also wrote to the First Bank of Delaware about working out a payment and they said I needed to contact ThinkCash. I thought that was interesting.