Payday Loan Question

I don't know alot about the laws but I will tell you what I do know. I know that the internet ones might have their main office in one state, but to lend you money and you are in another state, they have to be licensed in your state. I have know idea though if the internet and storefronts are considered one in the same or not---anyone else?

It depends on the state. A lot of the state legislatures, when writing these laws, didn't consider internet payday loans because they weren't a big issue. In some states they have solid laws that make it illegal for any payday loan, internet or storefront, to give loans to their consumers. An example of that is North Carolina.

But for instance in Pennsylvania, if you look at the laws it says they are prohibited. But there is a loophole that allows a pdl licensed in another state to lend to consumers in PA over the internet.

It really just depends on how the laws were written for each state.

I know that some states have tougher laws against payday loans than the state I live in. Here, the internet pdls are not regulated in the state, amazing I know.

Most internet loans are illegal, but you have to check to make sure. Store fronts with the exception of a few are usually legal.

Here, you can check the laws for your state, and I believe you can look up different companies, as well, to see if they're licensed.

www.paydayloaninfo.org.

Good luck.

In pa they also lend under a bank in a different state, pa banking will not back them.

I have looked it up, and not one of the loans I have are licensed in my state. I have typed in every name I can find associated with each company, but I can't find one that is licensed in oregon. You guys answered my questions though. I keep telling these guys that they are not licensed in Oregon, but they keep insisting that it doesn't matter. I just told one yesterday to go ahead and sue me, they were just going to draw negative attention to a company doing illegal business. I sure never thought it was going to be this tough though. I am just glad I found you guys!! Thanks!!

They will try to bully you, have not read all your threads, have you paid them back what you borrowed? Stand your ground with them. How is the mortgage deal going swoody? Hope everything is fine!

I have paid back what I borrowed, just not all of the fees. We are trying to decide what we want to do about mortgage. Do we want mortgage company forbearance aggreement , or do we want chapter 13. Mortgge company wants 1700. for next five months. Chapter 13 would be a couple of hundred bucks for 3-5 years. Any advice or suggestions?

It really depends on what you can afford and what fits in your budget to be honest...I am currently looking into Chapter 13 but if my monthly payment is going to be the same or higher as my debt management program I am just going to continue with that

I really don't now if we could handle the forbearance payment. It would be nice to be done with it in 5 months, but we are trying to raise 5 kids, and I don't want to get into a bigger mess, or tell them I could pay it, and then not be able to. I am so confused.

Swoody - They said the same thing to me about not needing to be licensed. Just keep working at them and eventually they may cave. But since they aren't licensed they can't win a lawsuit against you. Technically, they could sue, but your defense would be that they aren't licensed to lend in Oregon. The judge would throw out the case. Most ipdl's know they won't win a suit, so won't bother. If they won't stop bugging you, call the banking dept, if you need their number PM me and I'll send it to you. They called one of my ipdl's for me and after the call told me I shouldn't be hearing from them anymore. I didn't! I didn't get a pif letter, but they never contacted me again, and it doesn't show on any of my reports.

As far as the mortgage problem, I can't help much with that. I don't own a house, and don't know too much about mortgages. But if you think you won't be able to handle the forebearance plan, then you may want to consider chapter 13. It's something that you will have to decide what will be in your best interest. BK sucks, but not having a home sucks more.

hi,
i was wondering if a payday loan can harm your credit?

Most pdl companies don't report the accounts to the credit bureaus since they use Teletrack. But if the account is sent to some CA for collections, they will put a negative remark on the credit file, hurting your scores.

ok, i do know that these loans are illegal in my state, and my AG is taking care of everything for me, but i have not heard from him lately

Does anyone have an ADDRESS for a company called 500 Fast Cash. I do not dispute I owe them I do however dispute the amount and method of payment. There is no law stating I must pay them any way other than my way which is a money order sent to an address. They refuse to give me one. I am getting to the point where I am not going to pay them a dime.

Few addresses and discussions on this company are listed in the links below.

http://www.debtconsolidationcare.com/forums/about7956.html

http://www.debtconsolidationcare.com/settlement/about22153.html

What state are you in? Are you aware of the laws so that you know how much you are required to pay them legally?

I also need to send them a Cease & Desist notice to stop calling me at my job. Ya know when they refuse to give the consumers thier info. it shows theri refusal to cooperate. Especially when there are those like me who actually are willing to pay what I owe but no way am I going to pay all the fees and interest they are requesting. I doubt they are even licensed to do business in my state.

I am trying to find out if some payday loan companies are licensed in my state. Can someone please help?

You can go to paydayloan.org and look for your state information there.

I am also trying to find out some information on the company Bass and Associates located in Jacksonville Florida. Help?

They are scum! They are liars, they harrass and collect using illegal methods...type their name in up there on the right side and you will find all kinds of info on them..Cajun has a full thread on the investigations going on with them

I just got one of these loans from Astro Lending, and am not due to repay anything until next week, what should I do? I'm thinking of just closing my account now, and just re-opening a new one. I am a single mom, working part time, and definately can not afford any of what is to come. What should I do?

You should pay off the loan immediately. Then close and open a new account. Especially if you haven't made a payment on it yet.

Yes, as Steelers said....pay off what you borrowed plus the legal interest for your state That way you have done what you are obligated to do and owe themnothing further!

Absolutely, pay them, close that account, and don't look back. If you don't close the account right away they will keep taking more money from you. I would recommend using a different bank as well, in case they did a search at your current bank by your social security number. Good luck and let us know how it goes! :) Let us know if you need anything.

I get so frustrated when I see people doing everything that they can to survive, only to see companies trying to rip them off.

That is my comment above, I forgot to sign in.

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we have 5 paydayloans the last 4 made trying to pay back the last ones.. you know that story how it ends..
now we are overdrafted at our bank big time and our pawn shop holding hot checks up to high heaven.. where can i find some one to consoladte these for me ? or is that the road i need to go?[color=DarkBlue][/color][size=3][/size]

Can anyone tell me the appropriate agency to file a complaint against cashneusa regarding their collection practices? I paid them off and the day after I paid them they still send me harrassing emails and even contacted my employer and divulged information they shoould not have. I tried complaining the the attorney general's office in the state I live in, but they only handle complaints against businesses in this state. So it will most likely be a federal agency.

You should file complaints with your Attorney General's Office and the FTC. I know the AG's office in my state will also take complaints against collection activities such as that.

I totally agree with Steelers. :-)

I had a loan with B&L marketing for 200.00 dollars. But they trying to get900.00dollars. The man was very nasty to me over phone.So i hung up the phone.So my boss took charge.Call him up threat him not to call my job anymore.U need to be careful the young man is a big **** harassment to all the female.

[color=Red]****Adult term removed - Jason[/color]

What company is he working for and what state do you live in? I need to find out if B&L are licensed in your state. File a complaint with your attorney general's office.

24% of Americans believe that the Internet is able for a time to replace them with a loved one. For obvious reasons, such sentiments particularly prevalent among residents of the United States alone. Both men and women can replace the beloved, beloved trips to the World Network. However, the willingness to such transactions vary among followers of different ideologies: conservatives frowned relate to this idea, and the "progressive-minded" on the contrary, Nerkarat it.

Study company Zogby International also showed that every fourth resident of the United States have their own representation in the web-site or internet-stranichka. Creating internet-dvoynikov most passionate about young people (18-24 years of age) - 78% of them have personal Web page. In doing so, 68% of those surveyed said that the World Wide Web, they do not appear in its original capacity, their virtual overnight seriously different from the real.

Only 11% of Americans would agree implantable microchip in his brain, which would provide them with direct contact with the Internet. But the situation is changing, in the case of children. Almost every fifth resident of the United States would agree to equip their child safety device which would allow him to track the movement in space on the Internet.

10% of U.S. stated that the Internet brings them to God. " In turn, 6% are convinced that because of the existence of the World Wide Web God away from them.

And how you feel? Sorry bad English.

i had a loan with them and they did the same thing to me..they would not give me an address..i had closed my bank account because i had companies which just would take my entire check in fees with no authorization..i finally reported them to the Better Business Bureau and they called and said they would stop the calls..and they did..and I did not pay them any more (they had already "rolled over" my 300 loan to the tune of $2700 in 6 months so I didn't feel i owed them anything further)

Having the same problem here with pay day loans, but mine is different. I started doing on line surveys and doing things for free and for loans. But you need to do two or three offers in order to finish the survey, plus you are not to be olibgated to nothing. Woke up on day and behold had money in my accounts, my bank sent the money back to them and they still want me to pay. It screwed up both of my accounts and i had to freeze one of them. I didn't authorized the funds to go into my account. So now how to I find out if Michigan has the laws on paying them back and court. I have been threaten jail, internet scam, and other mean stuff. They say to send the money western union or get a pre-paid credit card to pay the debt. So any ideas on how to handle this, i alrealy called FTC and the fraud hotline. So now what do i do to stop this. Open to any idea.

Without knowing who the lenders are, countrymama0, I can't say what the story is on paying them back or not. Some internet pdl's are licensed, others aren't.

As for making the collection calls stop - Stop taking their calls (if you recognize the numbers in your caller ID) and hang up if they get through to you. Collection departments and agencies use a computer program called a predictive dialer to place calls for their agents. The more you talk on the phone (even if you are cursing out the collector) the longer you stay in the queue because the computer knows that more contact = more likelihood of success. The opposite is true as well. The less success they have getting you on the phone, the quicker they abandon the effort.

Troll Post deleted. CA

oh boy :roll:

You must have missed the memo, Employee of the Month. Frank and Evelyn changed Bass' name to Jackson Phillips about a year ago.

Today a debt collector called and said my teaching certificate was going to be suspended for fraud concerning a payday loan. can they do that.

They have no authority to do anything and threatening to suspend your teaching license was illegal. File an online complaint with your attorney generals office.

Any threats of action that is not defined by law is illegal. File an online complaint with the AG office. anthonylemons.blogspot

I happen to be a debt collector, and have been trained to use illegal tactics to get naive consumers to wire us money. I will threaten arrest, which is illegal to say. I will call the consumer's workplace with the intent to embarass or harass the consumer, which is illegal. I will share information about a debt to third parties, which is also illegal. I hate myself for violating federal and state laws. I have spent time in prison and no one else would hire me. So, I am left with only a job as a debt collector. Please forgive me for illegally seeking payment on debts. Remember; my only intent is to scare you into sending me money, even if it takes me breaking the laws that were created to protect you. Learn about the FDCA and how it protects you.

:shock:

i had a collection company call me about a payday loan i owe, they said if i didn't pay the money by tomorrow with a credit card or debit card i would be arrested from my job the next day and charge with fraud they said i would be fired from my job. Is this true will i be arrested

jolean, it's all LIES.

nope.that is the #1 threat of the ham and egger CA or PDL.they can't and won't do that.

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As a newbie, I am always searching online for articles that can help me.Thank you for sharing this !