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I live in Nebraska and have 4 payday loans which were rolled over several times so I've paid more than I borrowed but still owe on each. I stumbled on this forum and realized many of the payday loans are not legal. I went to the Department of Banking and Finance website and searched each of the 4 and could not find a license. If I'm reading correctly, internet payday loans are not legal, they have to be store front in Nebraska and can only charge $15 per $100 with a maximum loan term of 31 days. I found the c & d letter which I sent to each of the 4. I've heard back from one, Advance Me Today, and this is what they said:

This is a St. Vincent company. St Vincent and the US are both parties to the General Agreement on Trade in Services, a treaty which specifically permits companies in one country to make consumer loans to citizens of the other. Under the treaty, we are only obligated to follow the federal laws of the US. We are not required to obtain state licenses

So since they are not in the US they don't have to abide by the states rules?? Thanks!

Blah blah, just a bunch of legal jargon that means nothing to a US citizen. You don't have to abide by their laws either.

Sub: #1 posted on Thu, 02/03/2011 - 16:22

Shazzers Shazzers
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(Posts: 17344 | Credits: )

One of the other ones I had was Cash Direct Express which I took out a $250 loan and have paid back $220. They won't give me a physical address to mail the remaining principal, they just keep emailing me back that they are licensed in Deleware and they are bound by the laws of Deleware. I know I owe this and want to get it paid off, what do I do? Another one I have is Sure Advance which was a $400 loan that I've paid $811.40, they are not responding to my emails or faxes at all. The last one I have is Bottom Dollar Payday which was a $300 loan and I've paid $510. They aren't responding to my emails or faxes either, but I did get an email from them this morning that my payment was returned by my bank and I need to call to correct it. I've emailed the NE dept of banking and finance and she did confirm they have to be physically in NEbraska to be licensed, but she said just because they are not licensed does not mean the loan is illegal. What does that mean? Oh, all the loans were done on the internet. Thanks for all the help!

Sub: #2 posted on Tue, 02/08/2011 - 10:42


Do they have access to your bank account? If so, you should probably close it as soon as possible. Read this thread for more info. dl-dealings.html

Sub: #3 posted on Tue, 02/08/2011 - 10:49

jwb1963 jwb1963

(Posts: 15 | Credits: )

I went to my bank and told them what was going on and got my account closed and a new one opened last Thursday before I sent out the letters.

Sub: #4 posted on Tue, 02/08/2011 - 12:59


to address a couple of points.

1)again your state law prevails and that is another stupid attempt to lie,and sway you.
2)the response from the bank dept is why i don't advise going to them for info on these loans as they sre not supposed to interpret the laws.go to your AG for further advice and info in the future as any place not licensed in your state is illegal in your state.period.

Sub: #5 posted on Tue, 02/08/2011 - 13:20

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15514 | Credits: )

Cash Direct Express is also known as Government Employees Credit Center.....address in Delaware Below. A few years back they were given a desist and refrain order in california for not having a license.

[SIZE=3]Government Employees Credit Center, Inc. [/LEFT]

Vincent Keith Ney
Cash Direct Express
300 Creek View Road, Suite 204

Newark, Delaware 19711

Sub: #6 posted on Tue, 02/08/2011 - 14:17

rvl_73 rvl_73
Industry Expert
(Posts: 154 | Credits: )

Cash Direct Express is also known as Government Employees Cedit it and you will find an address in Delaware. They received a desist and refrain order in California for not having a license. Bet the same in Nebraska will/would happen.

Sub: #7 posted on Tue, 02/08/2011 - 14:19

rvl_73 rvl_73
Industry Expert
(Posts: 154 | Credits: )

I emailed Sure Advance again and told them if I did not hear anything back from them by tomorrow, I will be contacting my Attorney Generals office. They immediately emailed me back and said they are reviewing my loan and wanted to know if I had yet filed any complaints. I replied back right away and said I had not yet but will be tomorrow if it is not resolved today. Within 5 minutes, I had an email from them saying they came to a resolution suiting both parties and attached was a PIF.

Sub: #8 posted on Tue, 02/08/2011 - 14:27


Oh how they mighty will fall when threatened. Way to GO!!!!!! :rolleyes::p

Sub: #9 posted on Tue, 02/08/2011 - 14:54

rvl_73 rvl_73
Industry Expert
(Posts: 154 | Credits: )

I need more help! I just got a call at my work from TRS Recovery. They are calling about the Bottom Dollar Payday loan I took out. I paid $510 and the loan was for $300. She said I have committed bank fraud and I owe another $476.50 and they are sending a wage assignment to my work. I told her I needed something in writing and proof of this debt and she said I already have the proof, I have the contract. I asked for a fax number which she rattled off so fast I couldn't get it all down. I said I needed the fax again because I didn't get it all and she said she already gave it to me and wouldn't give it again. I live in Nebraska and this was an online payday loan. I sent the c & d letter to bottom dollar payday and haven't heard a word from them, that was over 2 months ago. What should I do?

Sub: #10 posted on Wed, 04/20/2011 - 08:08


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