Pdls inPA

Welcome to the forums :D PDL are prohibited in PA, so you are only entitled to pay back the principal amount of the loan. Sit down and take a little time to calculate how much you have paid on each of them and then let us know. We will be able to help you more once you figure up how much you have paid..Here are the laws of PA, just for your convience...Pennsylvania State Information

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg, PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser, Administrator of Non-Depository Institutions
Regulator????????s Website
Complaint Form
Complaint Instructions
Online Resources:

I am from PA also.I dont have any PDL ,to be quite honest until I started coming to this site didnt even know what they were.My question is not to sound dumb or anything but if they are illegal in PA how do they open their business's here? I was downtown in my town the other day and happen to see one there.

I am wondering the same thing myself - I looked at the list of licensed "check cashers" for Pennsylvania, and did not see Advance America anywhere, and did a search in the financial institutions list as well. I cannot imagine that they are unlicensed - they are one of the storefront lenders that is VERY careful about the state laws, because they know the consequences of not doing so. I could be wrong, though. Anyone else have any ideas how they are operating in a PDL-prohibited state? I know PA has a "check casher" license, so that might be the loophole they're using?

I may take a walk into the store tehnext time I'm downtown and see how this particualr one may work..It got me curious now.When I do I'll keep you posted.

Thanks, Guest - please do that - it will be interesting to find out how they are doing this. I think it has something to do with the "check casher" thing though. I think they're hiding behind that, when all they're really doing is making PDL's and calling it "check cashing".

Sometimes these companies get away with it by "renting" a bank. They will use a banks license for a fee.

Hey everyone,

The advance american used to be national cash advance they changed names and programs. They did payday loans up until june or july. Now they have what they call a line of credit, they charge 149.95 to have a five hundred dollar line, if you dont pay it back in the that month they tack another 149.95 to they balance. The manager told me herself that she is working without a license.

I hope you are filing a complaint and reporting this. It was real nice of the manager to admit they are operating withot a license! :D

Traci - definitely report them - please! That's the only way to stop this sort of illegal activity.

Well right now I just trying to get my situation undercontrol. I have sent emial messages to the attorney generals office about that

Traci 925 does langhorne law help out with the pdl loans quit a bit would you recommended to me

Hi Desiree,

They handle the legal aspect of all of it. What i am trying right know is to handle some of this stuff myself with all the help from everyone here. Are you in PA? The way i am looking at all of this most of mine should be "written off." Langhorne charges a fee depending on how much pdl's you have. They go to then lenders and offer half of what the prin is.

Traci, have you tried using the template letter on Polly's blog to settle the accounts?

Steelers1,

Thank you, actually I have gone to Ashley2006 blog and was looking at all of her info. I dont know of Polly where can I look at her stuff? The more info I can get the better off everyone is.

Here is the link to Polly's blog and letter.....

http://pollyandsay.yesdebtfree.org/template-letter/

Steelers1,

Thanks. I was doing some homework and found out Gov Rendell filed lawsuit on Advance America. Hoorray for us!!!!

Traci, If you dont mind me asking Why are you with Langehorne? The AG can handle this situation and will not charge you a fee. These storefronts are backed by a bank like Steelers said and thats how they get by with it. PA law Prohibits internet loans. Nobody knows your state laws better than your AG. They have the power to get back refunds also. WV AG has got back thousands for consumers. Stick with the AG and work on this yourself and save lots of money. KYSIDE38