Unlicensed PDLs

That's a tough one. It could mean that it just starts today. I would suggest asking your AG contact tomorrow when you talk to him or her. I wish I could be more help but I don't want to give you the wrong answer. To me it sounds like it's just beginning today but there could be a loophole. I'm glad to see that you state is taking such proactive steps though against these types of lenders.....

Oh me too...I will definitely ask tomorrow...obviously I am not the first person complaining here in Indiana although I don't see to many people here from my state...I think I have only run into 1 or 2!

I'm going to shoot an e-mail to your AG when I get a chance. Since you are one state over, it would be helpful for me know too. KYSIDE would be a great one to ask. Maybe she'll come along and post soon. I was one of the first ones here to post from Ohio but now there are a bunch of us :-)

Yes that's a good idea...I haven't figured out how to email the AG ...I couldn't find a link on the site page...but I was so excited when I found that letter. They had to have had trouble before me to pass that!!! Always nice to know your not the only one...

Hmmm, I can e-mail people at my AG. I don't know. I will have to take a look. I'm glad to hear that Indiana is taking such proactive steps. It's good to see more states cracking down on these loan sharks!

That's great that your state is taking a stand. Hopefully all loans will be uncollectable until the companies are licensed in the state. That's the only way it seems fair. Boy, wouldn't it make a huge impact on the companies to not be able to collect!!!
:-) Also, since your state is taking such a stand, other states might be encouraged to do the same. Good luck!

I would contact them. But I believe it means all loans outstanding and new loans are null and void, and they can not continue with collection activities. I am sure that is how it is, but like I said call and double check.

I have called twice and left messages for my contact person to call me back but she still hasn't. So, Steelers I will ask when I get ahold of her but you think that it would include my outstand loans?? Out of 10..I have overpaid 6...2 I only owe about $50. and 2 I owe maybe $200.I would so love to be able to send that letter to all my pdls and say "goodbye sweetie""...

Morningstar, can you PM me the link to that letter. I need all the amo I can for my state. I am getting other states laws together and going to mail them to my state to get them to change our laws, hopefully. I called the DOJ last week and gave them an ear full. And they told me to write to them and they would have someone look over what I send them. WI laws suck big time. But if I keep bothering them they just might think about it. And I have a VERY loud voice and I told them that. I have enough people who will back me up also. But one more letter from another state would help me out.

You should also have them take a look at Oregon's new state payday loan law, and Ohio is about to pass one as well. It will cap the interst rate at 36%, enough to drive them out of business.

That is what it's all about, helping each other. Steelers, didn't PA just pass a new law?

Puddle, I pm'd it to you...

I got it Thank You!!

I know WI was supposed to vote on a cap. But in all the pdl storefronts they have this sign about the law they want to change and how it would hurt the customer. When I went in and paid off a storefront, I saw that when they were getting my paperwork, I busted out laughing. The guy looks at me like wtf I told him that was a joke and left.

Thanks Steelers and Mishele I will check those out also :D

You know, Kentucky is so close to Indiana. I feel as though we're one state! So I want Kentucky to do the same as Indiana! Hell, I demand it! LOL! I do believe I might email the AG and see if there's anything like that for us in Kentucky. You know how KY and IN like to stick together! Kentuckiana, as they say!

Cannr...you crack me up totally! Wouldn't it be neat if we could all get together for a weekend...can you even imagine the riot!! LOL

Oh my God, we'd probably get arrested! Then we'd have to start a forum of our own "How to get out of jail"!! LOL!

What we don't have get out of jail cards?...we could start a trend!!!

I do not know when the Kentucky law went into effect but the current law already requires a PDL to be licensed in the state of Kentucky to do business in Kentucky. They current law requires a license for each store front operation and Kentucky will not license a company if they do not have a store front operation. The AG would not need to write a letter referencing new statutes because the current ones already state this. The AG could write a letter referencing the current statutes and reinforcing the idea though. This law makes all loans received from non-licensed internet companies illegal in the state of Kentucky and therefore those loans are null and void. I am not a lawyer but I think legally you would not be responsible for any portion of the loan including the original amount loaned.

OMG! I love you, dollars! And I'm freaking out over MTE? SCREW THEM! Screw the rest of these harrassing idiots. Time to file, file, file AGAIN with every agency. I want these marked pif/written off/what-the-hell-ever. I'll be spending tonight and tomorrow refiling my complaints. I love you, I love you, I love you! I know this is what everyone has been telling me all along, and I knew it enough to fight and file complaints. But to see it written in one paragraph (for a simpleton like myself!) in plain english - no fancy flowery wording - just gets the old fire in my gut going again! I don't care if I have to sneak here into work and use the fax and copier on my day off (done that before!). My big butt will be filing again! You've really made me feel better regarding the whole MTE issue. Plus the other ones I was worried about, I'm not worried anymore. The worry has been replaced with anger. You have made my day, dollars. I know I've been told this before, but I'm SLOW here! Seeing it in one paragraph, in english, spelled out for me (duh!)just reinforces my correct thought process. These people can kiss my ass. THANK YOU!!!!!