Florida online lending, license requirements?
Date: Thu, 01/21/2010 - 22:35
Ive posted this before but its gone...hope I do it correctly this time!
I have three out currently, first is with Oasis Marketing for 350.00, of which, every two weeks, 105.00 has come out of the bank, amounting to 315.00.
Second is Payday Loan Yes! for 250.00, of which 150.00 has been paid back so far.
Next is Zip19, 560.00. The due date passed and my account was overdrawn so it hit my acct for 730.00 in two withdrawels. Thats the way they operate, they take out two equal payments instead of one large one, in case one bounces.
Anyway, zip19 has repeatedly called my work when I have asked them not to, today the trick was to call me and ask for employment verification line at home office. I was suspicious and offered to have someone call back then did a trace call, sure enough...it was Darryl from Ecare, collecting for Northway/zip19 whatever they go by. So I got a little heated, as did he, I told him he has no choice, I refuse to give new bank info and that he will have to wait til my income tax refund comes in and I will send payment to the address he gives me. He did not, he gave me moneygram info. I acted like I agreed with the full payout amount and date just to get him off my back for at least a few days.
I dont see any information that they are licensed in Florida and Ive since learned that one isnt even in this country. One of the companies has taken electronic check withdrawels without my knowledge or consent and resulted in a HUGE overdraft on that acct. that I have to go in and try to negotiate with my bank tomorrow.
Any infomation would be so great, Ive been trying to research myself as you guys post so much information but its always nice to hear directly that I have at least some kind of recourse...for example...what is "rolling over" of a loan? Is that what they are doing to me, by just charging the "interest" or fee every two weeks? for Four weeks? crazy...
Thanks,
Cara
If these lenders aren't licensed in your state, they are not leg
If these lenders aren't licensed in your state, they are not legal. However, since Florida follows the CSO model, some of the lenders can be legal without even obtaining license. Just check with the office of Secretary of State to confirm that none of your lenders is a CSO as the CSOs are required to register there.
Check the following link about dealing with such illegal lenders.
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html
Quote:Originally Posted by SCIf these lenders aren't licensed in
Quote:
Originally Posted by SC If these lenders aren't licensed in your state, they are not legal. However, since Florida follows the CSO model, some of the lenders can be legal without even obtaining license. Just check with the office of Secretary of State to confirm that none of your lenders is a CSO as the CSOs are required to register there. Check the following link about dealing with such illegal lenders. http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html |
Ive searched every way I can think of...spent really a couple of hours trying to find out if they are CSO or pdl, even contacting the zip19 folks by chat. They were not helpful but did give me a MALTA address!
I know for sure that Payday Loan Yes is not a licensed lender no
I know for sure that Payday Loan Yes is not a licensed lender nor is Zip19, they aren't even located in the U.S. I am uncertain about Northway, you may want to research them to see if they are operating as a CSO (Credit Service Organization), if they are that means they would not have to follow the payday loan laws and are legal in what they charge. CSO's usually are only required to register with the secretary of state and are not regulated.
As far as the two that I am sure aren't licensed, CLICK HERE to find out how to deal with illegal lenders.
Northway/Zip19
Quote:
Originally Posted by Shazzers I know for sure that Payday Loan Yes is not a licensed lender nor is Zip19, they aren't even located in the U.S. I am uncertain about Northway, you may want to research them to see if they are operating as a CSO (Credit Service Organization), if they are that means they would not have to follow the payday loan laws and are legal in what they charge. CSO's usually are only required to register with the secretary of state and are not regulated. As far as the two that I am sure aren't licensed, CLICK HERE to find out how to deal with illegal lenders. |
Northway Financial is the name next to the withdrawels that Zip19 extracts...thats how they list it on my bank acct., so Ive searched that til Im blue in the face with no luck in Florida...must be just a dummy for Zip19. I followed your example of what to email and did just that to all three in the wee hours; we shall see. I suspect the only one I will hear from is Darryl, from ecare...or zip....or northway...
Its funny, the tactics they resort to...I stated I would pay my balance, heck, even the fee, when I get tax refund. I will mail it, if they provide a verifiable address. Of course, he refused and gave me moneygram info but at first, when we getting really snitty with each other, he kept saying "you think you can dictate the terms of a signed contract!" over and over, interrupting me. Well, now that I know the contract isnt legal at all, and that he was calling me from Canada...yeah I do think I can dictate the terms!
Will keep you posted. These guys are unreal.
Zip 19
So, having sent the emails out very late last night, I went in to check out my "account" again. I entered my info as usual. Today it says "you do not have access to this site"
Not sure what that means....typically if I have entered something wrong it will tell me, user and or password not found. Something happened in response to all that ruckus!
Keep you posted!
Well it appears that the only thing left out there is Payday Loa
Well it appears that the only thing left out there is Payday Loan Yes, and they are DOOZIES to deal with! From my other thread you can guess, they are not going quietly into that goodnight, even with an offer of me paying the balance. Noooo. On a 350.00 loan they got 315.00 out of me. More than happy to pay the rest, just give me an address to send it to. Reason, they say, they dont give physical address information? They have received BOMBS and had to move offices 4 times! LOL, yeah like THATS the reason this boiler room has had to move! For safety sake!~ Anyway, I played along, he offered a "settlement", 620.00, down to 4 payments, of only 115.00 each! How generous! All in all, making a 350.00 loan payback 765.00! like loan sharking! so its going to cost me 415.00 to use 350.00 of your money for two weeks? ROFL.
OH and another point, you guys, did you KNOW, that lawyers frequently dont know this (hint of sarcasm in my voice) this was what the guy actually told me...lawyers many times dont even know this, that they can get away with doing and saying whateve they want as the FDCP act doesnt pertain to them...they are first party collectors, not second, third etc. Im sure many lawyers would be happy that he has enlightened them! unreal...
Quote:Originally Posted by Cara DeeWell it appears that the only
Quote:
Originally Posted by Cara Dee Well it appears that the only thing left out there is Payday Loan Yes, and they are DOOZIES to deal with! From my other thread you can guess, they are not going quietly into that goodnight, even with an offer of me paying the balance. Noooo. On a 350.00 loan they got 315.00 out of me. More than happy to pay the rest, just give me an address to send it to. Reason, they say, they dont give physical address information? They have received BOMBS and had to move offices 4 times! LOL, yeah like THATS the reason this boiler room has had to move! For safety sake!~ Anyway, I played along, he offered a "settlement", 620.00, down to 4 payments, of only 115.00 each! How generous! All in all, making a 350.00 loan payback 765.00! like loan sharking! so its going to cost me 415.00 to use 350.00 of your money for two weeks? ROFL. OH and another point, you guys, did you KNOW, that lawyers frequently dont know this (hint of sarcasm in my voice) this was what the guy actually told me...lawyers many times dont even know this, that they can get away with doing and saying whateve they want as the FDCP act doesnt pertain to them...they are first party collectors, not second, third etc. Im sure many lawyers would be happy that he has enlightened them! unreal... |
Hahahaha, well, in my experience people who work for illegal lenders aren't exactly the brightest bulbs in the bunch. It's too bad they will never recoop the principal amount you borrowed from them, no address, no payments, oh well. I am so glad you are following through on all this.
Quote:Originally Posted by ShazzersHahahaha, well, in my experie
Quote:
Originally Posted by Shazzers Hahahaha, well, in my experience people who work for illegal lenders aren't exactly the brightest bulbs in the bunch. It's too bad they will never recoop the principal amount you borrowed from them, no address, no payments, oh well. I am so glad you are following through on all this. |
Its been a very peaceful week so far...the only phone call happened on Monday, I wasnt in (my transmission blew--another story), my on call took a message, a fellow from a lawyers office this time, William Sokol...told her he had some recommendations but needed more info. I took the bait, and called yesterday. He started to spout off about collecting a debt, yadayada, but wouldnt tell me who for until I agreed that I would sit and listen to his speil. Ok fine..go ahead. The very second he said "Oasis Marketing Group" I said hold it right there! I have an email releasing me from that debt and that they are cancelling further collection and to ignore you guys". Please fax that over if you dont mind, he said. I did. Nothing further.
Zip19 is the big shocker...not one peep, after I told this guy I would be western unioning money on Friday, after tax deposit. Well, after I spoke to him, I emailed all the helpful info from Shazzer about violations, and contacting AG, just like Oasis. Maybe they got the hint too. I will NOT bow down, and they can call me here all day long, Im the only one answering the phone, its a game now; who can psyche each other out the most I guess
Quote:Originally Posted by Cara DeeIts been a very peaceful week
Quote:
Originally Posted by Cara Dee Its been a very peaceful week so far...the only phone call happened on Monday, I wasnt in (my transmission blew--another story), my on call took a message, a fellow from a lawyers office this time, William Sokol...told her he had some recommendations but needed more info. I took the bait, and called yesterday. He started to spout off about collecting a debt, yadayada, but wouldnt tell me who for until I agreed that I would sit and listen to his speil. Ok fine..go ahead. The very second he said "Oasis Marketing Group" I said hold it right there! I have an email releasing me from that debt and that they are cancelling further collection and to ignore you guys". Please fax that over if you dont mind, he said. I did. Nothing further. Zip19 is the big shocker...not one peep, after I told this guy I would be western unioning money on Friday, after tax deposit. Well, after I spoke to him, I emailed all the helpful info from Shazzer about violations, and contacting AG, just like Oasis. Maybe they got the hint too. I will NOT bow down, and they can call me here all day long, Im the only one answering the phone, its a game now; who can psyche each other out the most I guess |
Wooohooooo! Sounds like you have them painted in a corner, well darn! lol
Spoke too soon!
Payday Loan Yes! just called my work. I ended up telling this "lady" to go ahead and give me an address and I will be more than happy to send a money order. "We dont take money orders, only credit card or western union" well, I no longer give out any further financial information. If you WANT the money, Im willing to send it to you. Try and sue me for that, any judge in the world would laugh you out of court. Bimbo!
I told her I would have to see if my atty would prefer me to send the money order, or to go ahead and western union...she said to me...if you have a lawyer have him call me but I dont think you really do. These people are unreal! And, yeah, I do, he is called the attorney general and you guys are just in line, he will be getting in touch with ya!
So, I tried my last try. No more. Hang ups from now on, hey, its thier long distance dime.