Is Nationwide Cash (internet lender) legal in Minnesota?
Date: Fri, 08/14/2009 - 13:27
Plenty of people will be along to tell you their illegal, but yo
Plenty of people will be along to tell you their illegal, but you'll still have to do the fighting yourself. Most AG's won't do more than send out a form letter and until very recently Minnesota's position was that the lender's state law applied. Although they changed that interpretation, they haven't gone after anyone yet.
Think of it like this. Someone robs your house. Of course it was illegal. But if the cops won't investigate did it really matter whether it was illegal or not. My advice would be to tell you're going to file complaints with the Minnesota regulators and see if they'll write off the loan. If not, go through with it and see what happens. Either way, they'll eventually stop calling and they aren't gonna sue you. They'll be banking your AG won't do anything, so why would they sue you and give a court an opportunity to decide their illegal?
They aren't licensed to lend to your state residents, no. Meanwh
They aren't licensed to lend to your state residents, no. Meanwhile I am moving this to the payday loan help section so more people will see it. CLICK HERE to find out how to deal with illegal lenders.