PayDay Lenders Licensed in KY

internet payday loans are illegal in KY.

If they are illegal does that mean that I don't have the responsibility to repay them?

If they are illegal then you have a moral/ethical obligation to pay back the amount that you borrowed but not all of the interest and fees. Just be careful and be sure that they are actually pdls and not installment or any other type of loans. If can list which companies you are dealing with we can help you sort it out.

The lenders are:

Star Advance
Pay Day Services
Pay Day One
Think Cash
500 Fast Cash
Payday Loan Yes
Ace Cash Services
Integrity Advance
My Cash now
Eastside Lenders
Greenpicket
Greenlight and
United Cash Loans


If they aren't legal can I repay them on my terms? Another words as I get the money. I understand that installment agreements are different and I had received information regarding Think Cash being an installment loan company. Do you know any thing about Pay Day One are they an installment or a PDL?

Are you the same person who has another couple of threads going right now? If it is its really easier to keep track of what info you have already been given if you keep everything on one thread.

If they are illegal then yes you can repay them on your own terms and anything you have paid them so far should be applied to the principal.

The KY AG has looked over the PayDayOne contract and has said they are operating as a legal installment loan in KY. Others from KY after reviewing thier contracts have noted that it does mention that it is an installment loan-which would be legal. Also on the PayDayOne website they say they are licensed in KY-well we know that pdls cannot be licensed in KY so again that leads me to believe they are in fact operating as an installment loan in KY. So far I have not seen any cases of PayDayOne lending illegally.

If you have further questions about it I would suggest you read over your contract with a fine tooth comb and see what it says. If you have further questions about how they are operating you can contact your AG and send them your contract for review and claification.

Denise, my suggestion to you is to dig up your contracts and re-read them thoroughly. Pay Day One and Think Cash are BOTH installment type of loans, you are responsible for paying back each lender you have, whether legal or not, at LEAST the principal amount you borrowed. The two above are legal lenders, I'm afraid you are going to need to contact them and make payment arrangements with them. You need to find out by looking over your contracts whether these other lenders were acting as payday lenders or installment lenders. After you have looked over your contracts to differentiate who are licensed and who are not, CLICK HERE to find out how to deal with illegal lenders.

How do I find out which lenders are licensed in KY?

What you need to find out is if they are payday lenders, or installment loans, the only way to differentiate is the original contract.

I meant to add, if your contract states the loans you obtained were payday loans, they are ILLEGAL, if they state the loans you obtained are installment loans, they are LEGAL.

So if they are illegal am I obligated to repay them? From a moral aspect I want to, however, due to the number of them it will be slow going. Do I officially enter into a repayment agreement or repay as and when I can?
If an installment agreement am I obligated to repay principle plus all interest and fees?

Quote:

what is the difference between an installment loan and a payday loan?