Payday Loans In PA Question

the governing law means nothing.your state laws prevail.meaning they are illegal.again that is meaningless.

Now they are going on about truth in lending laws...



You are legally responsible for the loan and we will expect payment on 08/09/2013. You can revoke the payments and that is fine but when by law we follow through with actions which are granted to us by our truth in lending disclosure that you signed please do not be alarmed. You are not the only one who has attempted to not repay from another state. So we will follow suit with garnishing your wages if the loan is not repaid in the timely manner that was discussed and signed by you. Please do take the time to sit with a lawyer and discuss the contract that you signed. An educated consumer should be aware of everything that we are allowed to do in order to receive our funds.

Best Regards,

123Moneyhelp.com

How should I respond to their email above?

Bump.

Does anyone know how I should respond to their last communication above?

respond this way:

don't try that crap with me.here is the truth.no lender is legal in PA so it is up to you to follow the laws of the state of the borrower,no the lender.so if all you are going to do is reach for shit.i'm through engaging in this.complaints to the PA AG,as well as the FTC will be filed.again i'm done with you and your runaround.btw i revoked any wage assignments so you won't garnish jack.


respond just like that.

LOL. They're going to have a tough time garnishing your wages, considering that wages can't be garnished for a loan without a court order in PA unless it's a defaulted student loan.

Thank you very much for the help!

actually PA is non-granishment.meaning unless it's a student loan,tax debt,or child support no court will order garnishment.i forgot to mention that.

Dear 123whatever...

You freely admit to being unlicensed in my state of PA, a state where payday loans are PROHIBITED by LAW!! You are going to have a hard time recovering any funds as A) PA is a nongarnishemnt state and B) the loan was issued in violation of PA state law. So do yourself a favor...mark my account as PAID IN FULL. Do not contact me by any means other than to inform me that my loan has a zero balance. Maybe it is YOUR company that needs to sit with an attorney and learn the laws.

Govern yourself accordingly

This is an attempt to communicate with an illegal payday loan lender and any information will be used for that purpose.

Thanks. 123moneyhelp.com is spouting on about how this is an installment loan not a payday loan. I looked over PA state laws and the cap is 6% on installment loans also. The only provision I found was below... Now 123Moneyhelp is Delaware based... but looks like the provision below is ONLY for National Banks???

The Pennsylvania courts have held that under the National Bank Act, at 12 U.S.C. § 85, a national bank operating in Pennsylvania can charge interest rates higher than permitted by Pennsylvania law, if that bank is authorized to charge those rates by the laws of the state in which it is based. Bank One, Columbus, N.A. v. Mazaika, In re Citibank (South Dakota) credit card litigation, 545 Pa. 115, 680 A.2d. 845 (1996). In other words, national banks based in South Dakota or Delaware, for instance, are governed by the interest rate limitations of their home states even when doing business in Pennsylvania.

they have no license in PA so anything they say is bullshit.treat it as such.btw they are not a bank.they are an illegal lender pure and simple.resend soaplady's respond as it is appropriate.

Good day,

I have the same situation w/this company 123moneyhelp. I have sent they the revocation of ACH/ and wage assignment twice as stated here:

Dear Lender,



It has come to my attention that this installment loan is prohibited in my state. As also stated in your disclosure, "Our loans are governed by Delaware State law. We are not licensed, registered, or authorized to do business in any other state." Therefore, the loan contract that I have with you, according to my state’s laws, is not enforceable. Although I am not required to do so, I am willing to repay the principal balance of the loan. To date, I have received $300 and have made 3 “renewal” payments of $376.16 leaving a balance due of $0 and an over-payment @76.16.



At this time I am revoking ACH authorization. You are no longer authorized to withdraw payments from my checking account. I am also revoking any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.



Please contact me via e-mail or postal mail to set up re-payment arrangements as outlined above.

and they have still taken the money out of my account. I plan to dispute the charges w/my back, but I don't have the funds to do a stop payment right now as it cost like $30 or something. I even received a response from the first time I sent the revocation and got the following response:
Ms Smith
This is nice but keep in mind that when you signed our documents and received our money you agreed to the terms and conditions which were put forth. With that being said a total payment in the amount of $201.92 is due immedtiately or per your documents #13 we will proceed with further collection activity

After I called and was told a totally different amount that would need to be paid and was also informed that they are not a payday lender, that this is an installment loan which I agreed to, but their website reads differently in different sections.

What should I do next? I really can not afford a garnishment, or can they even do that?

BTW.. I'm in GA