I came across some info that may be of help to someone else.

Toll free number of Nationwide Cash is 866-808-0936. And here is the address

Ambassador Collections dba Nationwide Cash
314 North Riverside Dr.
Espanola, NM 87532
Phone #866-808-0936
Fax #866-808-7187

Most of the unlicensed loan companies are operating from Bahamas. I don't think this company is either licensed. Whatever may be the case, they should be at least licensed in your state before they are allowed to lend money to the consumers. Have you checked them with your state attorney general's office?

If they are not licensed, one needs not pay it. Thats the law working for the consumers.

That could explain, wy I haven't gotten a letter, from CA's, on some PDL's.......bause they aren't licensed to do anything in the state, where I live?! Thanks for the info.

They count on consumers lack of knowledge to gain money.

Thanks for the info Steg. I haven't taked to anyone at the AG office yet, but I did check the WI website that lists the license #'s for all Pay Day lenders and couldn't find them on there. Out of the 7 PDL's I have only 2 were listed on the website. I'm waiting to see if I get any response from my letters, before I contact AG. I am not in default on any of them yet, but I will be next Friday, that's when my payments are scheduled to be debited, but I stopped my direct deposit, so they won't get anything. I'm going to the bank tomorrow to talk to them. Thanks again.

Anthony,

If the PDL is not licensed, don't you still have to pay the principle amount borrowed?

Good question!! I would like an answer to that one, too!! I would think you would only have to pay what you barrowed...but, I don't know. I HAVE gotten letters from CA, that are dealing with a few of my PDL's. The CA's say ( listen to this one!) they are "willing to settle for -----this much $".....if you READ the 'fine print', it's what originally barrowed..w/o all the %!! OR.....only the % that related to the state I live in. Let me 'tell ya'll'...I'm getting ALOT of positive feedback from this forum, on how to deal with PDL's!! Thanks.

Teri, I have an address for paydayone:2207 Concord Pike #604, Wilmington DE 19803. Someone correct me if I am wrong but morrally I think you would just pay the principal if they are not licensed.

They are part of Westbury Ventures, apparently that's just a mail drop for the PDL co's. They operate under numerous names.

ladybug

Ladybug, I thought they are a sister company of paydayok and paydayselect and these are both out of DE

We are back on the subject of moral/legal once again. As anthony stated, if these are indeed unlicensed/illegal pdl's, you do not have to pay them. They have no legal recourse to collect the debt as it is not recognized as a "legal debt". However, some people will pay the principle amount only because that amount is what was deposited into their bank account and they did use the funds. The issue of paying back an unlicensed/illegal pdl is entirely up to the individual. Some say morally you should pay back the principle, as you did receive the funds. Others say don't pay a friggin penny to an illegal company even though they gave you money (which they were not licensed to legally do). It is up to you. If you choose to pay or not pay is your decision alone. Every person is different, every situation is different. Some people feel one way and others feel another way. It is your choice actually. Like stated, you are not legally bound to pay if they are indeed an unlicensed/illegal pdl. However, just know that regardless of your decision, you will be hounded by the pdl's. Whether you pay the principle only (they won't be happy) or whether you decide not to pay at all (they won't be happy). But - to answer the famous moral/legal question - the answer lies only in the individuals decision as to what they choose to do.

canr, thanks for that response I can always count on you to clear up alot of information. I am trying to help by making some kind of imput. I am still a little rusty since joining the forum about a month ago. You guys have been awesome and very knowledgable.

flyers, you are ALWAYS welcome to post! Post away, my friend! Everyone has something to contribute! :D

Cannr- I always count on you to give great advice. I do think its up to the individual because techincally arent people who dont pay back anything "stealing" the money? Mind you I have paid back on all and have overpaid on a few but I just cant get the fact that if I dont pay the entire loan off I am stealing from that company?

tweety, that's the whole issue here. That's why I always say it's up to the individual. If you are someone who would be unable to look at themselves in the mirror every morning because you're thinking that you're a horrible person for not paying on an illegal/unlicensed pdl, then do not torture yourself. Pay the principle amount. However, if you are someone who says "to hell with this illegal/unlicensed pdl, they get what they deserve", then don't pay it. It's up to you and how you feel. It's whatever makes you feel better about yourself. Two people can have the same unlicensed/illegal pdl. The pdl is not legal in their state. Both people borrowed the same amount of money. One person says "Oh my God. I've got to pay the $300 because that's what they deposited into my account and I did use the funds." So they pay the $300.00. The other person says "Oh my God. This is an unlicensed/illegal pdl who is ripping people off and they don't deserve to be paid because they are not even authorized to lend legally." So they don't pay the pdl a penny. Either way - the result is the same legally. Nothing is going to happen to either one of them. Does that kind of make it sort of clear? So, it's up to YOU what to do. If you are like person #1, who feels like you would be stealing, then by all means, pay the principle. However, if you are like person #2, who feels like the illegal pdl doesn't deserve crap, then by all means, don't pay it. I can't stress it enough. It's up to the individual.

yes, it's clear. None of the pdl's I took out were licensed. I'm just torn! :cry: And they will show up on my credit report.

tweety, why is an illegal pdl showing up on your credit report?

Stealing??!! Such a 'strong' word...but, I do see your point. Can't pay a loan back, but, it's an ILLEGAL loan. However....I'm sure those who have gotten PDL's before ( yep..me too!) knew that, however, I'm sure 'we' din't know where else to turn. " Live and learn"...right?

Send a dispute to the credit bureau that is showing an illegal loan debt.

tweety, listen to anthony. You can certainly dispute anything that might show up on your credit report regarding an illegal pdl! I, personally, just don't see how an illegal pdl can report you to the credit bureaus. I mean, what are they going to say? "Hi, I'm an unlicensed/illegal pay day lender and this person didn't pay me my $10,000 in fees back on a $300.00 loan"??? Of course, you may want to pull your credit reports just to be sure, and if there is something on there from one, dispute it!

Cannr- do you know of anyone who has pulled a credit report and found an internet pdl on it? There are several companies that (for a fee of course) will notify you when any inquireies or changes are made to your credit report.

suzi, If I remember correctly (and I'm old, so don't quote me on this one!) I seem to remember someone posting saying something did show up on a credit report. However, I don't remember exactly what happened. It actually could have been a licensed pdl. I'm not positive about this. Just something "clicked" when you asked that question. However, like you said, you can always check your credit reports and have "alerts" put out if anything comes across it. My brother had an "alert" put on all three bureaus to notify him of any changes because of an internet related transaction (not a pdl). It was actually some kind of scam. But he did the "alert" thing. Nothing ever hit his reports though.

I may just do that ...I can afford it now :lol: I would understand if it was liscensed but if it is not how could that happen? Like Anthony said, it would need to be disputed, but that is another nightmare altogether. ...Oh, and if your old, that makes me old too...you are just barely ahead of me :lol:

LOL, suzi! :lol: It's this whole pdl nightmare that's made me old before my time! :lol: