Pennsylvania PayDa Loan Victim

Welcome to the forum redhotfoster.
In the state of PA Payday loans are prohibited:

You will find the Payday loan laws for Pennsylvania here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Pa is one of those "loop hole" states. If a Pay day loan is licensed ANTWHERE it is considered legal in PA. It looks like First Bank of Delaware is an installment loan, not a pdl. Do you know if any of your lenders hold licenses in any state?

CashnetUsa is one of the few legal, licensed online PDLs. However, they are a member of the CFSA and based on the testimonies of some others, they are pretty easy to work with as far as doing a payment plan goes.

Kash, would PA usury laws apply here?

Not according to the PA Department of Banking. If the lender is licensed elsewhere and the interest is legal in the lender's state it isn't usury. To make it worse the federal courts in PA have upheld the arbitration clauses most payday lenders use in their contracts.

I'm also from PA and am working through the legal/illegal mess. From your list I recognize Mycashnow - not licensed and CashnetUSA - licensed. CashnetUsa wasn't too bad to work with, they came up with a repayment plan I could live handle. Good luck, you've come to the right place. I don't know what I would have done if I hadn't found the folks on this forum to help!

Thank you guys so much! You have given me courage.

Here is an update on my Loans:
Electronic Payment Processing - PAID OFF But requested a refund of $161.00 due to Pa Laws of loan fees $9.50 per $100. We will see what happens.
Summit Group LLC - Requested a Refund of $121.50 and said to make it state paid in full due to the Pa Laws of loan fees $9.50 per $100.
Cash Net USA - Offered then $53.50 to comply with Pa Laws of loan fees $9.50 per $100.by MO.
my cash now - Requested a refund of $15.75 due to Pa Laws of loan fees $9.50 per $100.
Vince Enterprise/Prestige Marketing - Requested to make a payment of $58.50 to pay off loan due Pa Laws of loan fees $9.50 per $100.
My Loans USA - Requested to pay $106.50 to settle the account in full due to Pa Laws of loan fees $9.50 per $100.
CMG Group - Requested a refund of $31.50 due to overpayment as calculated by Pa Laws of loan fees $9.50 per $100.
What do you think?

EXCELLENT. I bet you feel so much better now.

I will feel better after there response. I can tell you I feel so much better from this website :D

any one know were to get the info on what this company status is in colorado

Seems illegal in Colorado. Not fully sure though.