Need help finding something

I did not find any link regarding the law that you've stated. If the online payday lender is illegal in your state, then you will be liable for paying only the principal balance. You won't be liable for paying any extra charges or fees.

I too haven't found any such link. However, you can check out the following link to know how to deal with illegal payday loan lenders:
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

Most lenders have to be licensed in the state where they operate. Did you check to see if this lender is licensed in your state?

It's possible they are an illegal payday lender, but installment loans and store front loans might be legal in TX.

Who did you take the loan with?

Don't know why, but it's not letting me log back in.

The loan was with CashBanc which is lisenced in DE, but not TX. I've already sent the email/letter telling them to cease and desist and not to call me etc etc. I spoke with a supervisor yesterday and one of the things they kept bringing up was proof of a document showing since I live in TX, I fall under TX law not DE even if the (illegal) contract I signed states as most of them do it is from DE and they follow DE laws etc. The original loan was $500. I have paid $575, plus several NSF/OD fees from my bank over this. They were supposed to draft the total amount back in Dec, instead they just kept charging me the intrest over and over which I know is illegal in TX. Now they are saying I owe them an additional $1000 but will settle for $450. I counter offered they pay me $150 to cover the amount over the original principle and the fees I incurred because of their illegal practice. That's when they started getting really upset.

since cashbanc is not licensed in TX then you are done with them as long as you paid back the principle.don't let their attempts at bs sway you.they are illegal and know it.you dealt with them in a confident manner.i like that.that is why they got upset.they are wrong and know it.just keep at it,and if you haven't filed TX AG complaints yet do so.if you have then ignore the cretins when they call,or again deal with them like you did before...confidently.

Oh I have no problem dealing with them when they call me. But I want documentation to back up what I am telling them to try and stop them completely. I am filing complaints with BBB, FTC, and the AT in Texas, but in the mean time it's my wife at home who has to deal with them calling all the time even after we have told them not to call until after 5pm when I get home. As with most of these jerks, they ignore that too and keep bugging my wife. I just want it to stop completely.

Do you have caller I.D.? If so, then don't answer. If not, is it possible to get your phone number changed to an unlisted number? That way you can deal with them in your time frame.

If if my wife doesn't answer, it doesn't stop the phone from ringing all day bugging her. And my # is unlisted, but since I filled out the app with it (should have used my cell #, but think I put both...hind sight is 20/20) they have it. Changing the # is not an option for me...I'm not looking to dodge them, I am wanting to legally resolve it in a timely matter.

Hi

Please send your email address and user id at [email]jason@debtconsolidationcare.com[/email]. We will look into your login issue. In the mean time reload your browser by pressing Ctrl F5.

Jason

Ok, still dealing with these people and of course no matter what I tell them they insist internet loans are made in good faith under the laws of the state the work out of, not the state the lender lives in. I still cannot find any proof (documents, laws, statutes, court rulings) stating that the laws of the state the lendee lives in has jurisdiction over the matter, not the state of the lender. Anybody? Already paid more than what I owe, tons in fees to my bank because they kept drafting amounts different that what was supposed to be done, filed complaints with the AT, FTC, and BB but have not hear back from any of them. I'm looking for the best way to shut them up legally. Oh, and I hope I didn't screw up, I used a collector tactic on my last letter to them. I said the matter was resolved, and any further contact from any person or agent working on behalf of their company will viewed as continued harrassment and I will pursue any and all recourse under the Fair Debt Collection Practices Act, and the laws and statutes of the state of Texas.

I would suggest you do what they told me close your bank account explain to the branch manager what si going on and that they are illegally deducting monies from your account and see how you can work it from there.

Have you contacted the Office of Consumer Credit Commissioner in TX? I'm betting they could help you with this. http://www.occc.state.tx.us/pages/agency/Index1.html

I have contacted them a few times. As well as the AT office they reffered me to. No one really seems to know much of anything regarding on-line debts. I am seriously starting to doubt some of the most commonly given advise here though. Everytime some one has an 'illegal" internet loan the advise is only pay the principle and tell them to go pack sand. Well, what is this based on? I have found nothing so far, and no one has been able to post anything regarding this matter. Still fighting these people, and doing all I can think of. Also calling/emailing my state reps in support of the TX laws to close the CSO loophole, but still can't find any proof of what folks here always say.

Paying the principal is based purely on ethics. Legally, I don't think there's a requirement to repay anything as the contract would be void. Not repaying at least the principal seems "wrong" to me (and many here), however.

I agree with Ohio Gal. It's an ethical thing. The loans are illegal but you still used the money. No one on this board has ever suggested skipping out on what was ethically owed. And we all know there's a difference between what is morally right, ethically right and legally right.

Well ethically you honor your debts, so you should then repay the full principle + intrest and fees agreed on. Legally is a different story. If they breached the contract by deducting a different amount than agreed on and automatically renewed the loan charging more intrest instead of taking the full payment + intrest on the due date as agreed then legally I owe them nothing else. Problem here lies in enforcement. I company claiming to be operating out of DE over the internet may actually be located anywhere in the world. Try and get them to court. Hell, try getting a lawyer to take the case without full payment up front. Not going to happen. So I'm stuck in a loophole. I have paid more than the principle amount borrowed, they broke the contract, they cost me over $350 in fees by deducting different amounts on days other than the original agreed date (and as they kept trying they would send it the day before my payday so it got returned every time.) The state will do nothing, DE won't work with me, can't afford an attorney for this case, not many other options to get them to STHU and leave me alone. And yes, as I stated in another post, I do have an attorney, but it's for my bankruptcy case, not to sue internet lenders.

Most of us that got involved with internet payday loans were where you are now. The best I can say is if you've repaid the principal you've borrowed, you owe nothing else. If you've overpaid, you can try sending a letter demanding a refund. Several have been successful. I actually got a $450 refund from one. But my others.... nada.

If they've cost you fees in overdrafts, then don't pay them anything else. They are illegal and do not have any legal recourse to come after you, except to make your life miserable for a while.

I actually had a payday loan with one internet company that I paid off and took out another loan before I found they were illegal and I had all kinds of fees taken out. I sent them a certified letter telling them what I had overpaid on the first loan, deducted it from what I owed on the second, and let them "keep" the $90 difference.

I don't think you're going to get any satisfaction here, other than not pay out any more money. As with all of us, an expensive "lesson".

As long as they don't have access to your funds, you can tell them to pound sand.