Internet payday loan laws for Indiana??
Quote:Originally Posted by AnonymousSo do you think Speedy Cash
Quote:
Originally Posted by Anonymous So do you think Speedy Cash can do anything to me? I was able to do it online and we do have the stores up here.. Do you think Payday One will help me out with a payment every week but not for the 96 every 2 weeks |
Based on other members experience here with PaydayOne, they will probably be helpful, but no one can ever be sure until they ask. Did you see if Speedy was a member of the CFSA? If they are, then they should have an EPP available, if they aren't then yes, they will eventually sue you. I am curious, why didn't you add them to your bankruptcy?
Omg, i did this bankruptcy back in May 2005 and at that time i h
Omg, i did this bankruptcy back in May 2005 and at that time i had 8 r 9 Pay day Loans. I am getting out of bankruptcy in April 2010 and i dont need them to be on my credit report and i dont want to call my Attorney and let them no that i just got 3 more. I have really messed up this time i need to get out of this mess really fast..
Good luck!
Quote:
Originally Posted by anonymous i found out over the weekend that my husband has 5 out of state payday loans. They have been wiping out our bank account the last month and taking most of it since january. I am on ssd. We are about to go into foreclosure because he they have been taking the money and my husband didnt want to tell me what he had done. Is this legal for them to do so. They say he has 8 more payments to go. I am running scared |
no!!!!!!!!! They can not continue doing that go. To indiana paydayloans laws. .call this number 317-232-3955 ask for dave larson. He can help you. I have 4 paydayloans too! Close your account and get a money card from walmart. Play their game tell them about indiana laws. Good luck!
Hello, I live in North Carolina. Here is a list of Payday Lend
Hello,
I live in North Carolina.
Here is a list of Payday Lenders I have Now.
OnclickCash
PaydayMax
MycashLoan
Discountadvanace
UnitedCashLoan
SarlaryFast
CashSupply
Any info on these would be great.
Thanks
Todd
Quote:Originally Posted by AnonymousHello, I live in North Caro
Quote:
Originally Posted by Anonymous Hello, I live in North Carolina. Here is a list of Payday Lenders I have Now. OnclickCash PaydayMax MycashLoan Discountadvanace UnitedCashLoan SarlaryFast CashSupply Any info on these would be great. Thanks Todd |
Internet payday lenders are prohibited in N.C. CLICK HERE to find out how to deal with illegal lenders.
Needing help.......Internet Payday Loans in Indiana!
[COLOR=black]Hello,[/COLOR]
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[COLOR=black]I live in Indiana and a few weeks ago I took out several online payday loans in an attempt to get me out of a financial hole. After paying the finance charge alone on several of these loans bi-weekly, I have found myself in a deeper whole and unable to maintain household expenses. I am so afraid right now because these companies have my banking information. I contacted all the companies by phone to discuss possible payment arrangements and none are willing to accept my request. I noticed that all of the companies are illegal in the state of Indiana. What should I do? All loans (minimum finance charge) are due 12/11/2009.[/COLOR]
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[COLOR=black]Kingston Financial: $289 ($200 plus $89 finance charge) [/COLOR]
[COLOR=black]My Payday Loan: $375 ($300 plus $75 finance charge) [/COLOR]
[COLOR=black]Paycheck Today: $260 ($200 plus $60 finance charge) [/COLOR]
[COLOR=black]Loan Point USA: $390 ($300 plus $90 finance charge) [/COLOR]
payday loan hell
I too am in some payday loan hell, I have some that I am not sure how to stop on. I have ended my bank acct and got another one so far. the ones I owe are
plaingreen loans
ameriloan
cash net usa
united cash loans
cash call
are these legal in indiana. are there letters I can send out to either stop them and/or get my money back?
any help is greatly appreciated and needed.
Hi desertlife,I am also from Indiana and recently went throug
Hi desertlife,
I am also from Indiana and recently went through the same thing. I don't know for sure, but I don't think CCC works with payday loans. They may have changed their policy, but I don't know. You've already taken care of your account which is good. The next thing you need to do is send out the revokation letter. Below is what I sent. I made sure to include the Indiana laws with the letters as you can see. I also included the letter from Mark Tarpey which states very difinitivley that they MUST be licensed in Indiana or the loan is null and void. So here is a list of things to put in your emails/letters to these loansharks.
- Verification of license to lend in Indiana
- Validation of debt
- Verification of all funds paid by you for either principle or interest
- A copy of the original contract signed by you electronically or otherwise
- Revoke ACH authorization
- Revoke any wage assignements you may or may not have signed (just include it to be safe they are dirty, sneaky, and a lot of other adjectives)
- Tell them you CANNOT take calls at work
Here is a copy of the emails I sent. You can cut and paste if you like and simply change what you need to in order to suit your needs.
Do some research here on this site to get the contact information for these companies if you don't already have it.
For the Loanshop email William Mashburn or Brad Weathers directly, CC a their customer service if you like. mr. mashburn is: wmashburn(at)ltsmanagement.com mr. weathers is : bweathers(at)ltsmanagement.com.
If you don't get anywhere sending the letters/emails, of if you just want to "carpet bomb" like I did.. Find out who processes their ACH's, and anybody else who is involved with these companies and send them all the same email. Send it as often as you like, i started sending mine every day. Then in place of "this is your formal request" I put "This is my sencond request" and so forth.
You can also contact the Indiana Attorney General's office at this email : constituent@atg.in.gov.
You can also contact the BBB in the state where the pdl has a mailing address, if you can find it.. pfff...
Make sure you tell them you know they are illegal:
If you have any questions, please ask.
Quote:
This is my formal request for verification that the company is licensed within the state of Indiana, a validation of my debt and total amount owed including fees, validation of any amounts paid by me towards the principal of the loan, and a copy of my original loan contract and all forms signed by myself, either electronically or otherwise. I am revoking any wage assignments agreements I may or may not have signed effective immediatly (6-24-2008) as well as revoking all ACH authorization. It appears to me that you are in violation of Indiana State Law Ind. Code Ann. ???? 24-4.5-7-101 et seq., and that I have overpaid this loan by at least $200 according to the law. I am requesting that a refund of ALL amounts over paid by me mailed to me at my address on file. Since you do not seem to be willing or able to provide me with the requested information, I will be filing a complaint with the BBB as well as with the Indiana State Attorney General. You may contact me via email or USPS with the address on file only. Please see information below. Thank you in advance. Your name account # xxxxxxx Quote: NOTICE TO UNLICENSED INDIANA LENDERS WHO ARE SOLICITING BUSINESS IN INDIANA Investigation by the Indiana Department of Financial Institutions (???????Department???????) has determined that your company is among several unlicensed entities making or offering consumer loans to residents of Indiana via the internet. Depending on the type of loan being offered, your company is in violation of IC 24-4.5- 3-502 and/or IC 24-4.5-7-102. These statutes reference consumer loans, and/or Small Loans (commonly referred to as ???????Payday Loans???????) and require a license issued by this office in order to make these consumer loans. During the recently concluded session of the Indiana General Assembly, there was a change to the statute governing the territorial application of the Indiana Uniform Consumer Credit Code, including the Indiana Small Loan Act. Effective July 1, 2007, IC 24-4.5-1-201 requires internet lenders to be licensed, and to comply with Indiana law, when making loans to Indiana residents. Additionally, IC 24-4.5-1-201( reads ???????If a creditor has violated the provisions of this article that apply to the authority to make consumer loans (IC 24-4.5-3-502), the loan is void and the debtor is not obligated to pay either the principal or loan finance charge, as set forth in IC 24-4.5-5-202.??????? You are advised to Cease and Desist the offering of these types of loans to Indiana residents unless/until you have obtained the proper Indiana loan license. Consumers will be advised that these loans are not in compliance with Indiana Statutes and that these loans are considered null and void, and as a result, uncollectible. Additionally, the Department may seek injunctive relief under IC 24-4.5-6 in the event of continued noncompliance. All Financial Institutions operating within the state of Indiana will be advised that electronic payment and / or paper/check transactions connected with these illegal loans should be rejected if an entity is unlicensed. Consumers will also be advised on the procedure to stop electronic debits to their accounts using return codes. Questions concerning the acquisition of a loan license may be directed to this office. Information is also available via our website at www.in.gov/dfi Sincerely, Mark B. Tarpey Supervisor ???????? Consumer Credit Division Indiana State Information Citation: Ind. Code Ann. ???? 24-4.5-7-101 et seq. Loan Terms: Maximum Loan Amount: $500 (not to exceed 15% of borrower's monthly gross income) Loan Term: Min: 14 days Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500 Finance Charge for 14-day $100 loan: $15 apr for 14-day $100 loan: 390% Debt Limits: Maximum Number of Outstanding Loans at One Time: One per lender; Two total Rollovers Permitted: None (cannot renew, repay, refinance or consolidate) Cooling-off Period: 7 days after 6 consecutive loans Repayment Plan: After 6 consecutive loans, lender must impose a 7 day cooling off period or convert to an installment loan payable in more than 4 installments at a rate no greater than 36% APR Collection Limits: Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another Criminal Action: Prohibited http://www.in.gov/dfi/ |
Jen :)
Edited by Shazzers, person info removed for your protection.
Submitted by jennifer_bailey75 on Mon, 07/28/2008 - 04:11
