PDL or Short term installment loan in florida

no.in fact FL won't license or register any loan place unless it's physically located in FL.kinda like KY no internet loan is legal.so internet=illegal.

It depends. If they also have a physical presence in the state (like Advance America, Check 'n Go, etc.) they can also lend online in that state because they will have a license. If they're operating as a CSO, there is sometimes a loophole. If it's an installment loan, there can also be a loophole if they are backed by a bank or if your state has no usury cap or licensing requirements for these entities, etc.

Thanks! Anyone know about Little Loan Shoppe?

That is the company but not sure about any physical presence in the state, nothing I can see in searches seems to indicate they do.

I have looked at the etire Florida statute on all lending and it looks like they fall under the same provisions that payday lenders fall under. As I cannot find a bank that backs them like the first bank of Delaware used to for thinkcash I would say that they are nothing more than a payday lender. Your best bet to make sure is to contact the Florida Office of Financial Regulation at 1-800-848-3792 option 5. They have helped me with finding out who is legal to operate in FL and who is not.

while ohiogal is right.if a lender is located in that state and you apply online they will either direct you to,or have a storefront located near you contact you about the loan.i had friends in IL experience that with check-n-go,and advance america.they do take apps online,but will direct you to a storefront.also speedycash does that as well.

That also depends. We have Check 'n Go in Ohio but, you can apply online and get your loan online. I think it depends on the amount you borrowed? Storefronts can only do $500, online (as a CSO) can do up to $1500? Not sure but, you get the picture. Also, Check into Cash operates in store and online in Ohio.

OhioGal1 you are right on the $500 limit for all legal payday lenders in FL. As for the CSO's I am actually trying to get an answer from the Office of Financial Regualtion in FL if CSO's are even allowed in FL anymore. I have found some information that shows that loophole may have been closed a couple of years ago. Once I get an answer from them I will let you all know.

Hey guys,
I'm glad I came across this site as I am in a PDL loan trap myself. But my question is......if I took out internet payday loans in FL but moved to TN, which state laws would then apply to my situation?? Here's the run down of my loans and amounts owed.........

The Loan Shop Online - $150 plus $45 finance charge
One Click Cash - $150 plus $45 finance charge
Cash In A Wink - $250 plus $75 finance charge
Seaside Cash - $200 plus $50 finance charge
Ez Pay Day Loan - $250 plus $75 finance charge

I've only been able to pay the finance charges with nothing to the principle on all of these loans. I've paid each of them the finance charge at least 3 times. I took these out back in Dec. 2010 and Jan. 2011. I've been getting harassing phone calls and emails every since. I told them I just am not able to pay the money back because of circumstances beyond my control. Bank of America closed my account because they continued to debit it for money that was not in my account. Does anyone have any insight on these companies??? Thanks!!

None of the lenders you mentioned are licensed in FL or TN. You are only required to repay the principal amount borrowed. Review your statements and figure out how much you've actually paid to each lender. If you've met or exceeded the principal, you owe nothing further.

Close your account!

After you've secured your account, send a letter (or email) to the company explaining that you've discovered they are not licensed to lend in your state (or your previous state) and that you will be paying nothing further. File complaints with the AG of both states and the FTC.

If you still owe, make arrangements to pay by money order through the mail or via a pre-paid debit card. If you've overpaid, ask for a refund.

You can find sample letters and lots of other information here.