Outside of US PDLs

Hi starlite,

Because the 2 pdl's are located out of the country, they are illegal. They can call & threaten you with action, but there really is nothing they can do. Have you overpaid them?

Unless the lender is licensed in the state where you live, you have no support from any regulatory agency. You choose to borrow from an umlicensed lender and until you have a way to cut all ties, they will hunt your accounts down and continue to accrue interest until the loans are paid.

This is the results of state governments enacting legislation that forces consumers in need to these offshore companies. If you are going to borrow online, look for a license on the site for the state in which you live.

question pdl owner.what pdl's are gonna state there license situation when someone applies?answer none.even if they have a license most aren't licensed in most states.as far as the overseas pdl's another question.when can these loans truly be paid off?answer never.these places once you apply want to keep you paying indefinitely.our goverment would like to stop this practice,but many special interests like pdl's in genearal fear that if the overseas pdl's are stopped there next.so please i hate it when a pdl person comes on and states one side of the issue.

I'm happy to report that as of this morning I received a PIF from one of the two out of country lenders - StarAdvance! I still have MyPayDayLoan (Costa Rica) which offered me a payment plan to settle for $150 (still owe them $280) but I have overpaid them in fees by a mile. Then I have EZPayDayCash (owe $200 but overpaid on fees) which I tried to log into my account online and it said my access was invalid. What do you think this means? Account closed or other? I have emailed them back. Wish me luck. Any feedback on these other two would be appreciated.

I'm happy to report that I received my first PIF out of 3 PDLs I have. The other two are a little more challenging. MyPayDayLoan (Costa Rica) basically said I'm governed by their laws. EZPayDayCash didn't repsond to my email but when I tried to log in this morning, my login/access was invalid. Anyone know what this means? I emailed them again for a reply but so far no word. For these last two, I have overpaid them by at least $500 each in fees. Please help. Thanks.

Paul

As hard as it might be to imagine, there are many licensed lenders in the internet. These lenders only lend in certain states, that is ones that either require a license (which will be listed on the page for the individual state) or those that do not require a license. If there are restrictions on lending, the a reputable company will NOT leand to residents of that state. An example is Iowa, the state does not allow for internet lending and your legitamate companies doe not lend online here. If you go Check Into Cash, Check n Go, Advance America and CashNetUSA, they are leaders in the industry and only operate in states where approved. Search some PDL sites and see which ones have licenses listed, they will also be the ones that have a real address and telephone number to call. If this information is not present, run fast.

As for offshore PDL's, there is no current technology that will stop them from doing business in any state in the US. The main reason that US based licensed lenders are concerned with offshore PDL's is due to the unscrupulous behaviors that reflect on legitamate business.

Paul,

Are you going to release my response?

release your response.whatever do you mean?your response is out there,but i choose not to respond.

It took about 30 minutes to show-up, while others were showing immediately.

Mypaydyloan is overpaid & you are technically done with them. Have you closed your account & sent them the pdl letter? If so then I would just resend them an email with the pdl letter attached everytime they send you one. I would also report them to the BBB, FTC & attorney general if you haven't done that already

Most if not all overseas companies are illegal anyway.

PaulMergel, I can't recall ever seeing any PDL showing their license information, if they have it to begin with. And many of them are downright misleading on their websites; PDL's are illegal in my state, but some of their so-called "testimonials" from satisfied customers are shown as being from my state. That would lead people new to PDL's to believe that the company is in fact legal in that state when it isn't.

You won't see any licenses from your state because they are illegal and non were issued. Also, if you were not going to the licensed lenders, you would not see licenses for any state. As for the testimonials, if they are dishonest enough to break the law, do you really think that they would be honest enough to print a true testimonial?