Help with understanding TN pdl laws
Date: Tue, 02/24/2009 - 08:01
I have 4 pdls, all internet based:
impactsolutionsonline.com
paydayone.com
nationwidecash.com
discountadvances.com
I do know that at least 2 of these are definitely legal per TN law-Impact & PayDay One. I have already made a payment arrangement with Impact & had just defaulted on PayDay One on Friday & am waiting for them to contact me about the default. My plan is to take each legal pdl one at a time & get them paid off, since I am no longer in a position to pay each of them all at once.
I am not sure if Nationwide or Discount Advances is legal. From what I understand, in TN, pdls just have to be licensed in any other state to be legal, but what about other countries? From what I have read, Discount is licensed in Granada. Does that make them legal in TN? I have been getting calls on my cell & at work from Credit Protection Depot (I think they collect for Discount), but have not answered any of the calls because of what I have read about them on here. I have also received an e-mail from them asking that I Western Union/Money Gram the amount owed or further action will be taken, which I have also ignored, based on the info read on here. And I do not know if Nationwide is licensed anywhere. Any additional info regarding these pdl companies would be greatly appreciated.
Thanks!
If they are not licensed in at least one of the US states then t
If they are not licensed in at least one of the US states then they are unlicensed/illegal.
Nationwide Cash is illegal, not sure about the other one, I will do some digging.
Thank you for checking into this! I was reading the Sticky on S
Thank you for checking into this!
I was reading the Sticky on State PDL Laws. I know that PayDay One is licensed in DE. If I read correctly, the maximum loan amount is $500. PayDay One allowed me up to $1000, which I had done due to not being able to cover my regular bills from these pdl ACHs. Does this mean all I have to pay them back is the principal since they are allowing more than the DE state law allows? Also, I have had this loan since January of 2008, where I have either paid down (but not paid off), rolled it over or increased the amount since then until now, which I think exceeds the maximum length of time for the loan, unless there is some loophole I'm not understanding. Not trying to get out of paying them back-just, if legally possible, avoid all the fees associated with them!
Again, any help is appreciated!
I did some checking and discount advance is also illegal. For
I did some checking and discount advance is also illegal.
For Payday One their main office is in Texas.
PDO Financial, LLC dba PayDay One
4150 International Plaza, Suite 400
Fort Worth, TX 76109
I would contact them and make payment arrangments. Their customer service people are really nice and will work with you.
[email]support@paydayone.com[/email]; [email]accounts@paydayone.com[/email]
If for some reason they won't or you need extra help I have this information from when I was dealing with them.
PayDay One Special Handling Team
shteam(at)paydayone.com
paydayone.com
866.580.1226
866.580.1228 - FAX
Business Hours:
Monday - Friday 7AM - 10PM Central Time
Saturday 9AM - 8PM Central Time
Thank you for your suggestion with PayDay One. I talked to them
Thank you for your suggestion with PayDay One. I talked to them today & set up a payment plan for 7 payments starting next Fri. They have also stopped the interest & fees. So, barring any unforeseen problems, I will have them paid off by May, hopefully sooner.
Now I have to work on the illegal pdls. I have to figure out how much I have actually paid into them. Once I do that, I will email or USPS mail them the suggested letter. I'm pretty sure I overpaid both, but not positive.
Thanks again for the help!
This site rocks!!