PDF Wisconsin Can someone help

Wisconsin State Information

Legal Status: Legal

Citation:
Wis. Stat. ???? 138.09

Loan Terms:
Maximum Loan Amount: Not Specified
Loan Term: Not Specified
Maximum Finance Rate and Fees: No Limit
Finance Charge for 14-day $100 loan: No Limit
apr for 14-day $100 loan: No Limit

Debt Limits:
Maximum Number of Outstanding Loans at One Time: No Limit
Rollovers Permitted: Not Specified
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $15 NSF fee if check returned due to no account open at bank, insufficient funds or insufficient credit. Check presentment limit: two times.
Criminal Action: Prohibited (per Wisconsin worthless check law, a check given to secure a loan isn't "worthless")

Where to Complain, Get Information:
Regulator: Wisconsin Department of Financial Institutions
Address: Wisconsin Consumer Act Section, P.O. Box 8041 Madison WI 53708
Phone: (608) 261-9555
Fax: (608) 261-7200
Regulatory Contact: Paul Egide,, Consumer Act Director

Please let us know how much you borrowed and repaid to each lender.

Welcome, sburns! :D We can certainly help you here! I posted your state pdl law so that we can all see it. Now, we can check on your pdls, okay? Thanks for listing them out. However, can you please let us know how much you have borrowed from each one (principle amount only) and how much you have paid back total to date? It helps us figure out where you stand.

Posting at the same time, kash! :lol:

Cash Advance Network will not be licensed/legal. They are a d/b/a of MTE Financial. Not licensed to lend anywhere.

Payday Avenue $500 Load Repay 689.90 every 2 weeks
Impact Cash $350 Loan repaid at least $580
Cash Advance Network $400 Loan repaid at least $650
Pay check today $200 Loan repaid $120
Husk Hawk Marketing $300 Loan New
Electronic Payment Processing $300 Loan New
Little Loan Shoppe $300 Loan New

Alot of these have paid more but they were renewed

I also have a balance from Cash Net from 3-4 years ago they were still calling me on and now am making 6 more payments of 73

Paycheck today is also part of MTE. Not licensed/legal

So if they are illegal, can I send them something to stop the withdrawals right away?

No. You can not send anyone anything until your account is closed and safe. Otherwise they will go in and literally bleed you dry. They will take everything you have.

They won't stop debiting just because you ask them to. They will continue to debit. What is the status of your bank account right now? Open/active?

Damn! Posting at the same time again! :lol:

you must either block debits or close your account.make sure any debit attempts will not force it open.then you contact the pdl's.if you contact them with your account still open they will leave you in a sea of red nsf ink.make sure they can't debit anymore before any attempt to contact is made.

All of us posting at the same time.LOL

My checking acct is still open

drove the point home right? :lol:

Can someone tell me which of my accts are legal and illegal?

More like scared crap out of me worse, Hopefully an end is in sight. SUpposed to be saving for a house and I am sick over the money this has cost me in the last 3 years

If you file anything with the WI DFI they will ask you if you went looking for these loans or if they sent you an e-mail, and you answered the e-mail. The big difference is that if you went searching for these loans then as long as they are licensed somewhere then they will go by that. But if they sent you an e-mail that you answered then they HAVE to be licensed in WI.

What I did was I closed my checking account and once I got all my info together (loan documents, bank statements) I waited for them to contact me. Then I figured out what I have already paid them and sent them settlement offers telling them that they are not licensed to lend in the state of WI and all of my interest payments we to go towards the repayment of the principal of the loan. I had to go back and forth many of times with them and even filed complaints with WI DFI and the BBB and the FTC. Once they got those complaints most of them settled with me. Not all. But it does take time, ALOT of time. Just remember how long it took you to get into this PDL mess, it will take you even longer to get out. But there is light at the end of the tunnel.

These would all have been off of emails that I received. So once I get my bank to help me on their end, I should only have to pay the principal on these? Are they all Illegal as long as I went off an email sent to me?

Payday Ave
Impact Cash
Cash Advance Network
Pay Check Today
Husk Hawk
Electronic Payment Processing
Little Loan Shoppe

If they are licensed in your state they are legal no matter how you got them.The ones that are illegal all you are morally obligate dto repay is the principle. the legal ones are another story .

How do I find which ones are legal/illegal?

Also question on Cash Net.

Thanks

Sburns, Ok... Puddlejumper is from WI so she knows what she is talking about. Follow her directions. According to what she posted, if you responded to a solicitation from them, they have to be licensed in WI to loan to you. If they are not licensed in WI then you are only responsible for paying back what you borrowed. I did notice you overpaid on some of yours. The biggest thing you need to do if you have not already done so is take care of your money. You need to get your account closed or blocked. Please read this if you have not closed your account. There is good information in the thread that you should see before dealing with the bank.

http://www.debtconsolidationcare.com/paydayloan/close-account.html

If you have closed your account let us know so we can work on your next steps.

Sburns, I looked up your pdls and none of them were listed in the WI database. Do you know which pdl is associate with electronic payment processing or do you have a phone number on your bank statement associated with them so we can figure out who they are with.

Phone n umber for that one is 866-468-7111 So if they are unlisted, then they can't lend to WI Even if it is internet right?

MY Acct is takin care of.

If they are not licensed in your state to lend then they are acting illegally.

When I reply that they shouldn't be lending to WI, he is now telling me they will send to collections if I don't settle, What do I reply to that?

when they send it to collections , ask the ca to validate the debt. It is an illegal loan. They will not be able to validate.

off of your list I have delt with paycheck today and I have had a loan with the loan shop (not sure if it's the same one as you have)

First thing, if they send you to collections, don't worry if you get a phone call telling you about check fraud, that your going to be arrested. All of that is a lie, just to get you to pay.

Then you need to file a complaint with the WI department of financial institutions for these loans. If you want the info for the person I have been working with just let me know and I will get it to you.

But when the lenders do call you, you need to tell them that you know they are not licensed to lend in the state of wisconsin. ANd according to WI law you were sent an e-mail and WI says that is solicitation for business and to do that you need to be licensed "IN" WI. SO all interest payment are to be applied to the principal amount of the loan. ANd that you only owe x amount of dollars or that it has been paid in full. Do not back down, stand your ground. They will bug you for awhile but then they will back off.

Thanks, I will print this so I have a script to go by

Can you please help me? My email is (email removed for your safety. cannr)

I have 2 payday loans and I do not know what to do now. I have been paying them for 2 months.

Jacki

Sburns, I saw you post on my home page. I replied on yours.

Quik Payday is calling me on a loan I took out in Jan of 2006 saying I never paid in back(Pretty sure I did) and that it is on my credit report and is going to collections. I said they were not legal to loan to WI REsidents and asked to validate the debt and she snotted back Prove you paid. Can they really do anything?


As an update I got a settlement from Little Loan Shoppe and haven't heard from my others but they didn't get any money and haven't sent me Paid in fulls either?

THanks Much

Have you contacted the Attorney General's office in your state and the payday lenders state? The reason is they may not be licensed in their state either. The key is to contact AG's Office so they can least keep a record on how many complains that the company gets. It may force them out of business.

sburns, they told you they were going to turn you over to collections or they already have turned you over to collections? Once you get turned over to collections, slap a debt validation on them quicker than they can blink their eye. They'll never be able to properly validate the debt since it's an illegal debt. If it has indeed hit your credit report, or does hit it, you can dispute it with the the credit bureaus and have it deleted off of your reports.

I asked her to validate the debt yesterday and she came back with, You Borrowed the money. I told her I paid back the principal and that was all I needed to do.

DO they actually provide something with a validation?

To contact the AG for QUik Payday, they are in UT right?

Request debt validation in writing. Do you need a debt validation letter to send? Do you have an address for them so you can send them something in writing? Some will not respond to the DV letter because they can't validate it. Others will try to half a$$ validate; however, it doesn't properly validate it. So, the chances of them PROPERLY validating an illegal debt is slim to none. But, do it in writing. And, yes, Quik Pay Day is in Utah:

Quik Payday Inc
Quik PayDay.com
41 E 400 N # 327
Logan, UT 84321

Yes, if you can send me a letter that would be credit.

Payday Ave sent me an email with a payment plan but they are international. Are any international PDL Legal?

I got a letter from the WI FInan. Inst so they sound like they will help as well. Thanks So Much

sburns, do you know how to use the 'pm' feature? I'm going to 'pm' you a good debt validation letter to send them in the mail. Let me know if you get it. :wink:

How do you find which state an online company is located in to check their liscense?

how do i go about paying my loan off

bridgette cockrell,contact the company you have the loan with?????