Virginia Help!!

Date: Thu, 03/22/2012 - 14:03

Submitted by kpoorman1
on Thu, 03/22/2012 - 14:03

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Total Replies: 2

I took out 2 payday loans over the internet from SureAdvance and Cash direct Express GECC. Since then I had read and talked with someone from the Virginia Fail Loans people that internet payday loans are illegal to Virginia residents. And since they are illegal they are unenforceable. I had tried to contact both companies about paying principle balance back on my terms, what I can afford, and when I can afford it. They responded that they didn't agree with my terms and that since I got the loan over the internet, I must follow Delaware law. Even on SureAdvance website on my account it stated my status was PAID IN FULL (made a copy of it), but now a company called Alliance Collection agency has started calling me (had to change my phone number). I recently looked at my credit report and noticed inquiries from this company as well as a couple others I do not recognize. Can they actually look at my credit report? These loans are illegal, is there anything else I can do? Please someone help! I am so tired of dealing with these people! Thank you!

The point of the matter is this: Are you from Virginia or from W

The point of the matter is this: Are you from Virginia or from West Virginia? PDLs are illegal in West Virginia but are legally sanctioned to operate in the state of Virginia.

So if you are from Virginia, you would have to pay back the loan principal along with interest and fees, given that the PDLs are licensed to do business in Virginia.

From what I can make of the lenders, the are downright illegal internet based lenders. Even if they try to convince you that they are ruled by Delaware state regulation, tell them that you are not a resident of Delaware and therefore refuse to abide by Delaware laws.

Check in with the Virginia Bureau of Financial Institutions at State Corporation Commission, 1300 East Main Street, Suite 800
Post Office Box 640 Richmond VA 23218
Phone - (804) 371-9657
Fax - (804) 371-9416
Regulatory Contact - Susan E. Hancock, Deputy Commissioner, Consumer Finance

If the Collection company calls, send them a Cease & Desist letter stating that the PDLs are illegal and all that you are willing to pay is the principal loan amount, no interest no fees. Yes, creditors can pull your creditor report and take a look at it when they need to.

lrhall41

Submitted by StevenDoyle on Fri, 03/23/2012 - 00:02

( Posts: 199 | Credits: )

If your lenders are illegal, then you will be responsible only f

If your lenders are illegal, then you will be responsible only for the principal amount. Ask them for the refund, if you have overpaid them. Close your bank account to stop unauthorized withdrawal. Illegal lenders can???t report to the credit bureaus. If they do so, then it???s a wrong activity. Look at this page, I hope it will help you in this situation:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html

lrhall41

Submitted by Tyler on Fri, 03/23/2012 - 00:15

( Posts: 269 | Credits: )