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help in missouri.....

Date: Fri, 10/19/2012 - 02:14

Submitted by anonymous
on Fri, 10/19/2012 - 02:14

Posts: 202330 Credits: [Donate]

Total Replies: 4


i need help .. i have seven payday loans all online yes i know STUPID. but mistakes been made now need hlp.i need to know if the online lenders are legal in my state and if not i want to contact them and let them know


oasis1 200 have paid 300
sdsprocessing 200 have paid 300
instantloansusa.com 400 have paid 510.95
discountadvances 320 have paid300
getcashusa 377.26 have paid 409
starcash 200 havent paid
bearpawor great river loans 300 havent paid
oh and westernsky financial or cash call 1500 havent paid yet due 11-1:(:(:(:confused:


follow the link below on  how to deal with unlicensed illegal lenders step by step by OhioGal - you are only obligated to pay back principal. 

GetCashUSA is licensed in TX - check to see if they are licensed to lend in your state - what state are you in? also on Bear Paw - more info and we should be able to find... 


lrhall41

Submitted by HelpinAZ on Tue, 01/01/2013 - 04:24

( Posts: 1870 | Credits: )


USfastcash is illegal tribal - owe principal only

Ameriloan is illegal tribal - owe principal only follow link below on how to deal with:

Net Credit is part of Cash America - and I believe legal - you will want to call them at the corp. level and see if you can work out a payment arrangement

Here are the guide lines for Missouri:

Missouri Payday Loan Laws

State Legal Status
Lending of payday loan is considered legal in the State of Missouri.

Loan Specifications
  • Maximun Amount of Loan - $500
  • Term of Loan - 14 to 31 days
  • Maximum Rate of Finance and Fees- Not Specified (Borrowers don’t need to pay an overall amount of accrued interest and fees higher than 75% of the original amount of the loan on any single approved loan for the entire loan tenure and every sanctioned renewal. In other respects, interest is determined in accordance to small loan regulation which allows the parties to determine rate through contract.)
  • Finance Charge on $100 loan for a 14 day period - $75
  • APR for $100 loan for a 14 day period - 1980%

Debt Limits
  • Maximum Number of outstanding loans permitted at a time - Not Specified
  • Permissible number of Rollovers - 6 (upon each renewal the borrower is required to decrease the principal loan amount by 5% or more)

Limits of Collection
  • Collection Fees Amount - NSF fee; Court fees (if disclosed)
  • Criminal Action - Prohibited (when check is retuned due to NSF)

File your Complaint and get Information
  • Regulator - Missouri Division of Finance
  • Address - Consumer Credit Section, P. O. Box 716 301 W. High Street Jefferson City MO 65102
  • Phone - (573) 751-3242
  • Fax - (573) 751-9192
  • Regulatory Contact - Joe Crider, Supervisor, Consumer Credit


lrhall41

Submitted by HelpinAZ on Wed, 01/02/2013 - 04:04

( Posts: 1870 | Credits: )


GetCashUSA is a legal lender
BearPaw - Seems to an illegal tribal lender. Could you please give us a link to the site?
Other than that, all your lenders are illegal.


lrhall41

Submitted by Steve Barris on Tue, 01/01/2013 - 01:13

( Posts: 1043 | Credits: )