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9 PDL's - 3 Store Front; 6 Internet

Date: Mon, 09/21/2009 - 10:02

Submitted by anonymous
on Mon, 09/21/2009 - 10:02

Posts: 202330 Credits: [Donate]

Total Replies: 5


First of all, THANK YOU so much for helping all of us with the pdl mess. I have regained confidence and strength in knowing there is a way to fight these weasles.

I have a total of 9 pdls, and reside in Kansas:

The following are local Storefront and I reloan every two weeks:

#1 - Check Into Cash; $ 500.
#2 - Advance America; $ 500.
#3 - Check N Go; $ 500.

I am contemplating an extended payment plan with the local strorefronts beginning this week.

The following are internet loans:

# 4 - Cash Jar - $ 500; paid total of $ 375 and stopped.

# 5 - Zip19.com/Northway Financial; $ 600. (Originally borrowed $ 300, paid back $ 360.00 then reborrowed $ 600.)

# 6 - InstanLoansNow; $ 300. Have paid back $ 180 (all considered fees)

# 7 - UpFrontCash; $ 200. Have paid back $ 120 (all considered fees)

# 8 - ElasticCash/Urban Trust Bank; $ 300. First payment due 9/23/09.

# 9 - FBDLoans/First Bank of Delaware; $ 600. Have paid back $ 182 (partial fee and partial principle)

Have notified all internet loans via email to cease and desist based on EFT laws, and that I will only pay principle and by money order. Have called my bank to revoke ACH and called ACH company (ACH Commerce) to revoke future ach transactions from these pdls but they were not very helpful.

Any additional thoughts?


Kansas requires Internet payday lenders to be licensed by your state, some of your are not. UpFrontCash, Zip19. and Cash Jar are not. I'm not sure about the rest. I do know that some of yours are installment type of loans, therefore they would not abide by the payday loan laws and are perfectly legal in what they charge. You can check the link below for the licensee data base for payday lenders.
http://www.kansas.gov/index.php
Revoking their right to debit your account won't stop them, they will only change their names and debit the full amount, you would be better off closing out that account. CLICK HERE to find out how to deal with illegal lenders.


lrhall41

Submitted by Shazzers on Mon, 09/21/2009 - 10:57

( Posts: 17344 | Credits: )


Thank you! In other words, are you saying the installment loan companies (Elastic & FBD) are not required to abide by pdl laws? They are not licensed in Kansas as per the Kansas Office of State Banking Commissioner (OSBC) website: http://www.osbckansas.org.

I'll keep you posted on how it plays out.


lrhall41

Submitted by on Mon, 09/21/2009 - 12:00

( Posts: | Credits: )


Quote:

Originally Posted by Anonymous
Thank you! In other words, are you saying the installment loan companies (Elastic & FBD) are not required to abide by pdl laws? They are not licensed in Kansas as per the Kansas Office of State Banking Commissioner (OSBC) website: http://www.osbckansas.org.

I'll keep you posted on how it plays out.


They aren't required to abide by the payday loan laws because they aren't payday loans, however, they ARE required to abide by the laws that regulate them.


lrhall41

Submitted by Shazzers on Mon, 09/21/2009 - 12:18

( Posts: 17344 | Credits: )