Internet Loans In Ky.

Internet Loans are illegal in the state of Kentucky.

I live in Kentucky.

So if the loans are illegal in Kentucky, waht does that mean for the consumer?

I had online internet loans. And I had a ton of them!! Too many to count. This is actually how I found this site. I did what everyone told me to do.

Close your bank account. You have to stop them from debiting your account. This is the only way to do so. You also need to make sure that when you close the account that if anything comes through after it's closed the bank will send it back as a account closed and not try to debit you for it.

Set down and figure out who you have your loans with. How much the loan was for. How much has been paid back total in rollover fees. Since they are illegal in Kentucky, you only owe them what you borrowed.

You need to revoke all wage assignment letter. There is a letter on here that will help you with that.

Stop answering the phone when the call. Only communicate in writing to them. Let them know that they are not licensed to operate in this state and therefore they need to consider the loan paid in full.

File complaints with the attorney general. Don't be scared to do this.

You haven't done anything illegal by having all the loans. You will not go to jail. They can't arrest you.

I hope this helps but please feel free to ask more if you need to.

I got your message but for some reason it wouldn't let me replay to you.

I have a list of the following:

The Cash Spot $300.00 paid $405.00
Discount Advances $210.00 paid $223.11
Payday Max $500.00 paid $542.42
Instant Cash USA $300.00 paid $500.00
City View Cash $300.00 paid $360.00
Cash Advance Network $300.00 paid 0

I also have Payday One but have not figured out the amounts yet.

I would write them a letter and notify them that you have over paid them based on the laws in your state. Let them know they are not licensed and you will be filing complaints with the attorney general. You also need to request a refund for the amount that was over paid. They don't always refund but it's worth a shot in asking.

I sent a letter by email to one company and later someone called me to set up a payment plan. I explained that internet lending was illegal in the state of Ky and they stated we are not in Ky we are located in Deleware and abide by Deleware laws. Is this true?

Sorry, I was not signed in.

I sent a letter by email to one company and later someone called me to set up a payment plan. I explained that internet lending was illegal in the state of Ky and they stated we are not in Ky we are located in Deleware and abide by Deleware laws. Is this true?
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No. It's not true. Alot of them will try to tell you this. You tell them that the state of Kentucky requires that they be licensed in the state of Kentucky and at this time the Department for Financial Institutions does not have a license on file for them. Also tell them that if they need further explanation of the law that you can have the representative from the Department of Financial Institutions make contact them if they do not understand the laws. (you really can't actually have them call but this will scare them)

Now, in my case I had alot of them pull this. I contacted the department of financial instutions so much that eventually the department of financial institutions sent them a letter stating that they must cease lending in the state of Kentucky.