Payday Lenders not licensed
Date: Sun, 01/06/2013 - 21:58
I am from New Mexico and I just found out that pdl lenders must be licensed to lend in my state. I did research on the License and Registration department website and found the below to not be licensed:
Lenders International, Ltd t/a AdvanceMeToday.com
Red Cedar Services, Inc. dba 500FastCash
MNE Services, Inc. dba UnitedCashLoans
Cash Reserves, LLC- PAYDAY Mobility
Mount Sion Investment Holdings & Ventures llc -Best Pay Today
TLE- National Payday Loans
Hydra Financial Limited Fund- Hydra
I have seen threads, about this subect, on this website pertaining to states WA, CT, VA, and NC but not New Mexico...That being said, I would like help clarifying there is no loop hole or hidden typing in the agreement that separates NM from other states...
I have written to the above companies revoking any ach authorization and wage assignment as well as had my account closed due to unauthorized and fraudulent activity from a Palm Loan Advances...
I received a response from Advancemetoday stating they are legal because they are from St Vincent and have a "treaty" with the US... I understand from other threads this is "b.s." and that state laws prevail, so I responded to clarify the revocation and that there is no treaty or federal law governing the contract I have with them.
I am willing to repay the principal, to all, but if these predatory lenders are not following New Mexico state laws by not being licensed do I have to honor the loan agreement?
500FastCash- illegal tribal
500FastCash- illegal tribal lender
United Cash Loans- illegal lender
Hydra Fund- illegal offshore lender
Most of your lenders are illegal. So you owe principal only. Don’t pay them any interest or fees. Close down your old bank account and open a new one. Don’t worry, they can’t do anything.
Those are all perfectly
Those are all perfectly illegal - pay them back principal at your convenience.
