Payday Max, Responsible Loan, Magnum Cash Advance, and Western Sky in Florida
Date: Mon, 08/22/2011 - 07:36
I took out a $1,500 loan from Western Sky in April of 2011. Western Sky then transferred the loan to CashCall, LLC and I have been paying them since May 2011.
I went ahead and checked to see if either company is licensed in Florida and Western Sky's license under the number MBB0709687 is expired, while CashCall has an active and approved license.
What is the best way to proceed? I am drafting an ACH revocation letter for all of my PDL companies including Magnum Cash Advance (unlicensed in Florida, illegal), Responsible Loan (unlicensed under that name), and Payday Max (unlicensed under that name) but am still iffy on the legality of the Western Sky loan.
Thanks!
I have combined your threads. Please do not double-post. Than
I have combined your threads. Please do not double-post.
Thanks!
Sorry about the double post. Honest mistake with the web browser
Sorry about the double post. Honest mistake with the web browser.
Did you have to sign a new loan contract with CashCall when the
Did you have to sign a new loan contract with CashCall when the transfer took place? If not, I think it's fair to assume that your loan contract is with Western Sky (who is illegal) not with CashCall (who is licensed). This is probably their way of trying to get out around proper licensing.
I suggest you contact the Florida Office of Financial Regulation to verify the legality of the loan. I suspect it's not legal but, I defer to the regulatory authority.
Florida Office of Financial Regulation
Division of Securities and Finance
200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
where didi you find that
i looked for a license and couldn't find one for cash call,or cash call llc.under the dfi,or dfs websites.where did you see that?also western sky being a "tribal lender"and only in business since 2009.i wouldn't trust a thing these places have as far as info on their websites.as ohiogal stated.even if cash call had a license in FL.they took over an illegal tribal loan.btw no tribal lender will ever have a license as it messes with their "immunity"meaning that they can't claim the laws don't pertain to them if they ever get or attempt to get a license.again please tell me where you got this info as i couldn't find it under the DFS,or DFI licensee databases.
