Payday Loan Help in Nevada

How are you doing I found this regarding Nevada payday loan laws and lenders.
Nevada payday loan laws have done nothing much to protect the consumers from the claws of predatory payday lending. Still, there are a few legal restrictions that have been imposed on lenders to give some relief to those borrowers who are feeling great difficulty in making the repayment. Short-term cash advance in the state of Nevada can be very risky and expensive. Following are some key points regarding the related legal provisions applicable in this state.
Criminal Actions Are Prohibited
Though a few states have allowed payday lenders to file criminal lawsuit against those borrowers who do not pay their loan in time, Nevada has strictly prohibited it unless the consumer borrowed the loan through some fraudulent activities or with a criminal intent.
Collection Fees
Nevada payday loan laws allow lenders to charge various types of collection fees that include Service of process costs, Reasonable Attorney???s Fees, Court Costs, and $25 dishonored check fee. Besides that, the laws have also specified it clearly that lenders cannot charge more than one fee for closed account and more than two fees for insufficient funds. It means lenders cannot send the same check for collection for more than two times.
Repayment Plan Is Mandatory
The only relief that consumers seem to have got as part of the state laws is that an affordable repayment plan has been made mandatory. It means when a borrower fails to make the repayment, the lenders must allow them to repay in small monthly installments. But, here again, there???s a catch. The laws have not prohibited the rollovers.
Rollovers Permitted
Nevada payday loan laws have not said anything specifically regarding the rollovers. But, as per the laws, payday lenders cannot extend the repayment period for more than two months from the due date (that the borrower missed). Since rollovers are indirectly permitted, it is not clear when the lenders can be obligated to offer that mandatory repayment plan to the borrower.
No Limit On Interest And Other Fees
Horribly, the state laws have not imposed any maximum limit on interest and other financial charges on payday loans. It simply means payday lenders here are free to charge as much as they want. However, one thing has been made specifically clear in the law code that when a borrower misses the due date, the interest charged for the extended period of time must not be more than 10% plus the prime rate charged by the largest bank in Nevada.
Maximum Number Of Loans And Maximum Loan Amount
There is no maximum limit on how many outstanding payday loans you can have at one time, but the maximum amount of the loan must not exceed twenty-five percent of your gross monthly income.
If you think that your lenders are not treating you fairly, you can file a complaint with the Nevada Financial Institutions Division. You can also contact them for more detailed information on Nevada payday loan laws. You can fax them at (702) 486-4563, call them at (702) 486-4120, and visit their office at 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121.
Read through this then determine if any of the lenders you listed are licensed to lend in your state. I will check into it as well. I will be back with you.

Ok so my last post is waiting to get approved but I have done some internet searching for you.
Check into cash is a CSO you need to make payment arrangements with them, check with banking and insurance commission about their status
my next paycheck is claiming to be a tribal owned business owned by the Guidviole Indian Rancheria which sounds shady to me so I would say they are illegal and you only owe the principal,
Money Tree sounds looks like a CSO I would check into your state banking and insurance commission for their actual status,
Advance America I would check about their status
Cash yes has lenders in Hong Kong but claims to be located in California, I would definetly check about them.
Payday One is a subsidiary of Think Cash and claims to have offices in Delaware, Nevada and Texas I would call and check their status
MBS Loans I would call about them aswell,
Now DGR Group LLc are you sure it is not DJR Group LLc because they have numerous rip off reports about them how they just deposit monies into a account and then charge monies, They are scam artists.

I think you have some work ahead of you but all companies have to be licensed in Nevada to lend to residents of the state so check with their licensures and if they are not file complaints against them.

Secure your banking information first and foremost then check the begining page of the payday loan help tab there is so many options there.

I will suggest you to contact the Nevada Financial Institutions Division in order to find out if payday lenders are licensed to operate in your state. If they are not licensed , then you can close down your checking account and pay them only the principal amount in order to get rid of the debts. If they are legal negotiate a settlement.

I agree with Anna. The contact detail of the Nevada Financial Institutions Division is as follows:
# Address - 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121
# Phone - (702) 486-4120
# Fax - (702) 486-4563

[FONT=Arial]First you need to close your checking account and get a new one.

Rapid Cash, Check into Cash, Advance America, PaydayOne and Moneytree Inc are licensed lenders in NV. If you're having difficulty paying them, ask them to put you on an extended payment plan. They should break up your current balance into 4 equal payments, due over your next 4 pay dates. No further interest or fees will be charged. If you can't afford to pay them all at once, see if they will allow you to pay monthly (and then you can alternate who's getting paid every 2 weeks). Sometimes, defaulting and working out payoff arrangements with collections is the only thing that works. That is also an option if you need it.

All of your other lenders are not licensed to lend in your state. You should only repay the principal amount of the loan (e.g. you borrowed $300 and have paid a $90 rollover fee 3X so you only owe them the remaining $30), no fees or interest are payable. If you???ve overpaid, ask for a refund. Be sure to include ACH debit and Wage Assignment revocation language when you send your letters.

Follow the advice [URL="http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html"][COLOR=blue]in this thread[/COLOR] [/URL]to learn how to deal with illegal lenders. You will find sample letters and other useful information, shared experiences, etc.

Do NOT send your letters until your account is secure![/FONT]

You can also contact the regulatory agency mentioned in previous posts if you need further assistance or clarification.

Thank you everyone! All your responses helped out a lot! Another question. If I close down my checking account, will that equal fraudulent activity on my part? The whole criminal intent clause confuses me!

No I don???t think so. If you close down your checking account, it will not be considered as fraudulent activity on your part. This is because debts are civil, not a criminal offense.

Sally, please stop telling people what you "think" and only share information you're sure about.

In this case, you're correct.

What's the success rate with these licenced payday loan companies in Nevada actually settling the acount for a lesser amount? I mean are they easy to work with?