Payday Loans

Date: Tue, 08/21/2012 - 15:45

Submitted by anonymous
on Tue, 08/21/2012 - 15:45

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Total Replies: 4

I've read the contract with one of the online payday lender (Multi Loan Source),and the part about governing law: both parties agree that this Note and your account shall be governed by the jurisdiction in which the Lenders is located, regardless of which state you may reside...kinda get me wondering if this is true and applies if i did sign the contract. :(

what state do you reside in. I believe this is an illegal lende

what state do you reside in. I believe this is an illegal lender and the wording is typical in many of the lenders contracts. If illegal, your state law prevails no matter what the contract says. They are feeding you a lot of hogwash.

lrhall41

Submitted by bingonut on Tue, 08/21/2012 - 16:22

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There is no choice of law BS in this case. Your state's law ALWA

There is no choice of law BS in this case. Your state's law ALWAYS prevails and takes precedence over the laws of whichever state the lender might be located in.

P.S: Multi Loan Source is not an actual lender. They are just a loan matching service which means they take your application and hand it over to an actual lender.

lrhall41

Submitted by on Tue, 08/21/2012 - 21:04

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You should only pay what you borrowed. Nothing more.....

lrhall41

Submitted by Artn on Fri, 08/24/2012 - 13:05

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You may glance through this page to know about how to deal with

You may glance through this page to know about how to deal with illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html

lrhall41

Submitted by on Sat, 08/25/2012 - 02:12

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