secureloansonline.com
Date: Sat, 01/23/2010 - 06:02
Trying to find out if this company is legal in PA. The loan lender seems to be Southern Financial Services as a short−term loan provider. But the pay day loan was done online at secureloanonline.com. The main problem that I am having is that I can't get a hold of them. I have to continue paying the finace charge of 140 a pay. I'll never have this loan paid off and it seems like the want it that way. My options are shown below (taken from the agreement)
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[LEFT]On the scheduled Maturity Date shown above, you will have three (3) options:
1. You may refinance your loan until your next pay date by paying the finance charge only.
2. You may refinance your loan until your next pay date by paying the finance charge and part of the loan principal in increments of
$50.00.
3. You may pay your loan balance in full.
You will accrue new finance charges based on the amount of loan principal being refinanced. If you wish to pay your loan balance in full
or pay down part of the principal amount, you must contact us by telephone at least two (2) business days prior to the Maturity Date.
Otherwise, your loan will be automatically refinanced until your following pay date.[/LEFT]
[FONT=Arial][LEFT]WE WILL AUTOMATICALLY REFINANCE YOUR LOAN UNLESS YOU INSTRUCT US OTHERWISE[/LEFT]
BY TELEPHONE
this is the governing law clause
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[FONT=Times New Roman][SIZE=1][FONT=Times New Roman][SIZE=1][LEFT]GOVERNING LAW: You acknowledge that we are a Utah based lender, and you
acknowledge that this consumer loan agreement is governed by Utah laws. You
acknowledge that Utah laws governing consumer loan agreements may differ
significantly from the laws of the state where you reside. You agree that courts
located in Salt Lake County, Utah, shall have exclusive jurisdiction and venue of[/LEFT]
any permitted action arising from this consumer loan agreement.
[/SIZE][/FONT][/SIZE][/FONT][/FONT]
....................
[LEFT]On the scheduled Maturity Date shown above, you will have three (3) options:
1. You may refinance your loan until your next pay date by paying the finance charge only.
2. You may refinance your loan until your next pay date by paying the finance charge and part of the loan principal in increments of
$50.00.
3. You may pay your loan balance in full.
You will accrue new finance charges based on the amount of loan principal being refinanced. If you wish to pay your loan balance in full
or pay down part of the principal amount, you must contact us by telephone at least two (2) business days prior to the Maturity Date.
Otherwise, your loan will be automatically refinanced until your following pay date.[/LEFT]
[FONT=Arial][LEFT]WE WILL AUTOMATICALLY REFINANCE YOUR LOAN UNLESS YOU INSTRUCT US OTHERWISE[/LEFT]
BY TELEPHONE
this is the governing law clause
....................
[FONT=Times New Roman][SIZE=1][FONT=Times New Roman][SIZE=1][LEFT]GOVERNING LAW: You acknowledge that we are a Utah based lender, and you
acknowledge that this consumer loan agreement is governed by Utah laws. You
acknowledge that Utah laws governing consumer loan agreements may differ
significantly from the laws of the state where you reside. You agree that courts
located in Salt Lake County, Utah, shall have exclusive jurisdiction and venue of[/LEFT]
any permitted action arising from this consumer loan agreement.
[/SIZE][/FONT][/SIZE][/FONT][/FONT]
CLOSE YOUR ACCOUNT NOW !! I don't even have to look up this lend
CLOSE YOUR ACCOUNT NOW !! I don't even have to look up this lender to tell you they are not a legal lender in your state, the clause about "governing law" is all a bunch a crap. They can NOT change the state laws with a clause in a contract, YOUR STATE LAW PREVAILS! Please, CLICK HERE to find out how to deal with illegal lenders.
