state law vs fed law precedence in payday lending?

the lender is blowing smoke. I would immediately file a compliant with the state of virginia adn see what happens

ironically, I finally found someone that was interested in hearing the story, at the VA Bureau of Financial Inst. I was eventually transferred to a lead investigator, and he is going to start calling the companies today.
And they had previously contacted United Cash Loans so United Cash Loans/ One Click had already been notified of their violations. Woohoo, repeated multiple offenders lol.

Set4sail,where do I get intouch with the Va Bureau of Financial Inst.I would like to file a complaint against GECC.

twokidtwocat, the phone number is

804/371-9657 (general info, this is the number I used when I finally reached an investigator)

or

804/371-9705 (complaints)

I would recommend asking to speak to an investigator regarding unlicensed businesses operating in VA. I'll pm you the name of the one I spoke with, maybe you can ask for him directly.

Thanks Set4sail,and good luck.

Keep us updated on this ladies :-)

Thanks,Mishele,Hows youre battle with GECC going?

Thanks Myshelle (did I spell your name correctly?)

I admit I was feeling pretty hopeless when I first came back to the site. I know, I registered last year but I hadn't really read over it. Reading others success stories with these vultures inspired me to do more research, to try to renegotiate the amount owed to what is allowed by law before I turn it all over to T&C. :)

Dana

I went ahead and joined the consolidation program,so that payments would be made,The payday lender that changed my loan to paid in full contacted the consolidation company for me.When I told my consolidation people how I go it paid in full,they told me to go full force with the other 2,so Im giving it a shot,but I think taking GECC to court is going to be the only option,and a lawyer cost bucks.But the law states in Va,that the lender will pay the cost of court,so maybe I need to look into this.

Twokid,

I contacted Simm's yesteray and they knocked it down to the original amount of the loan. They were very pleasant to deal with. Even with other payments I made, it will still just be the original amount. They should receive a payment from T &C this week. Plus they need to get my payment history from GECC. I am going to do it in three monthly installments so it will be gone by june. :)

Thats great news,maybe I should have contacted Simms instead of GECC,did you send them a letter,with information about the laws,is that what go them to lower the amount?

The lady told me once it gets turned over to Simm's, they cannot add anymore interest on it, they offered me half of that amount, which was pretty much the original loan amount,

Set4Sail: Could you pm me the name of the investigator too? Payday loans are illegal in the state of Virginia. I live in VIrginia and have a whole bunch of payday loans. How did you ask the investigator about payday loans. Maybe pm virginia-legal-defense. he posts on here quite a bit. He's been writing to me with advice.

Now if I could just figure out which of these blankety-blanks sold my email address! lol I receive over 200 SPAM messages a day now, and 90% are offers for payday lenders. No, I don't even open the emails, just trash 'em.

same here :x

two, I figured everyone here probably received the same junk emails. I did finally get the telemarketers to stop calling. We had switched phone companies last year, couldn't transfer our phone number, but I didn't think to block OTHER people's caller id from picking up the new phone number.