Credit Service Organizations

Dear Ms. Sink:



Not to long ago I emailed you regarding internet payday lenders and their total disregard for the laws that were so carefully put in place here in Florida regarding them. The storefronts here are required to adhere to the strict laws but apparently the IPDLs are not. I have heard recently that the FLDFS is now looking into the Florida Consumer Financial Act sections 516 and 560 as a means of regulatory action regarding these companies. I applaud your department for this and wait anxiously to see if the predatory lending practices of these companies can be brought to a halt. I am however disappointed that I did not get a response to my last emailed letter.



What I have found disturbing in the wake of all this is the fact that these companies are now setting themselves up as Credit Service Organizations here and in other states and there is virtually no law regulating the ???????fees??????? that they charge. They are brokering loans from other lenders and making on time payment difficult for people by their 48 hour faxed document rules. If you do not fax a printed document to them telling them that you wish to pay in full 48 hours before your due date you will be charged a ???????fee???????? and your loan will be extended automatically. These fees are taken as ACH withdrawals from your account. I personally do not have a fax in my home so I would have to get to Kinkos within a few hours or I would be extended and charged a ???????fee.??????? That is virtually a rollover which is against the law here in Florida. This particular company operates as CashNetUSA but is licensed under a different name.

I implore you to look into the CSO laws in this state before the Internet Payday Lenders have completely circumvented the rules and will be preying on Florida residents more than they are now.



As I said in my last email, I am a counselor on a large internet website that has helped over 85,000 people get out of debt. My specialty is dealing with people that have sometimes a dozen of these loans out at a time. Many are Floridians. A copy of this email will be posted there to encourage others to contact their state regulatory agencies. I am also writing my representatives, Governor Crist and the various editors regarding enforcement of the laws in this state. I am also encouraging all Floridian that I help on the site to file complaints with your agency and the FTC regarding their usurious charges and harassing collection practices. Because they are original lenders the FDCPA does not apply to them.

Thank you for your valuable time in reading this. I look forward to hearing from your office in the near future.



Respectfully

Detail by Entity Name

Foreigc31b3694n Limited Liability Company
CASH AMERICA NET OF FLORIDA, LLC

Filing Information
Document Number M06000003392
FEI Number 205921254
Date Filed 06/16/2006
State DE
Status ACTIVE

Principal Address
200 W. JACKSON ST., SUITE 2400
CHICAGO IL 60606
Changed 10/02/2006

Mailing Address
200 W. JACKSON ST., SUITE 2400
CHICAGO IL 60606
Changed 10/02/2006

Registered Agent Name & Address
CAPITOL CORPORATE SERVICES, INC.
155 OFFICE PLAZA DR.
SUITE A
TALLAHASSEE FL 32301 US

Address Changed: 11/09/2006
Manager/Member Detail
Name & Address
Title MGRM
CASH AMERICA NET HOLDINGS, LLC
200 W. JACKSON ST., SUITE 2400
CHICAGO IL 60606
Title MGR
FEEHAN, DANIEL R
1600 W. 7TH STREET
FORT WORTH TX 76102
Title MGR
LINSCOTT, J. CURTIS
1600 W. 7TH STREET
FORT WORTH TX 76102

Annual Reports
Report Year Filed Date
2007 02/22/2007