PayDay Loans -- Paid in full success
Date: Mon, 11/27/2006 - 19:49
PayDay Loans -- Paid in full success
What makes a company willing to do this?
Is there a consistent "success factor" in getting your account marked PIF?
thanks in advance for your advice. I am really considering becoming a Debt Samaritan. I am amazed at how many good people are having financial hardships.
thanks again!
Quote:What makes a company willing to do this? 1. Not bein
Quote:
What makes a company willing to do this? |
1. Not being licensed in either your state and/or state to loan money.
2. Charging usurious interest rates defined by your state laws.
3. Reporting them to your and/or their AG or Division of Financial Institutions for any laws they are violating.
Polly - I have a paid in full loan from my cash now, where they
Polly - I have a paid in full loan from my cash now, where they clearly were out of the NE law. (loan was for over $1000, where NE law states max is $500).
However, the website of My Cash Now says they are only governed by the laws where there offices are located. (Grenada) Can this be true?
I believe there corporate headquarters is actually in Tennessee.
I believe there corporate headquarters is actually in Tennessee.
They all pull that governing law clause.
All lenders need to be licensed in at least there home state. my cash now is not licensed anywhere, thus giving you latitude to negotiate a settlement.
In the letter in my blog there is a citation to WDPA 97, which supports the notion that a internet lender should be licensed in the consumer's state.