Florida pdl help

Someone from Florida will be along to assist you. I know it is all so overwhelming. You should read this information on the state of florida pdl laws: Legal


Florida State Info here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


Hang in there someone will be along shortly to assist. :lol:

ladybug

Advance America is obviously legal so you need to continue to pay them. If you look at your loan paperwork with them, they will accept payment arrangements if you default if you are working with a credit counseling service. What I am doing is every 2 weeks I am taking 50 dollars less until I no longer have the advance. I can't afford to pay it off in full either.

Cashnet USA is legal in FLorida and operating as a CSO. File a complaint against them though with the Florida Department of Financial services because they are in the process of investigating them to see how legal or what they can actually charge per Florida law. I filed a complaint with FLorida and I defaulted with Cashnet. I have emailed them that I am waiting the results of Florida's investigation before I pay anymore to them. But that is a personal choice. Keep paying them or default. But they are legal so they do have to be paid at some point.

The other two companies I am not sure about as I have no experience with those two.

At the top of the main post page is a sticky about closing your bank account. Please read it and consider changing banks. Cashnetusa no matter whether you send them an ach revocation letter will still try to debit your account a couple of times.

I will look and see what I can find out about the other companies.

CashNet USA is not legal in Florida. See this thread below. Someone from the office of Florida Office of Financial Regulation wrote a response to one of the consumer's email

http://www.debtconsolidationcare.com/paydayloan/cashnet-registered.html

Make sure that you pay off the principal amount first by making larger payments. Then you can think about whether to send anything towards their interests or not.

Cashnet USA is not license in FLorida you are right, but they are registered in Florida as a CSO. They are not operating as a PDL therefore they are not falling under PDL laws. The state of FLorida is currently investigating them under Florida statutes CH 516. Which means they can charge up to 18% interest and can charge handling fees in addition. But at this time it is a LEGAL debt. Sandra Smith is the one that sent me to LISA Jackson who is the investigator handling all of the complaints against Cashnetusa.

Here is Florida's registration information that Goudah found and posted on another thread

Pybasj is right, they are registered with the state of Florida and are acting as a CSO, not a lender. CSO's are not required to be licensed, only registered.

Cash Net USA is not licensed as a payday lender. That is what the link above is talking about. BUT - Cash Net USA is not lending in the state of Florida. They are a CSO, which is like a loan broker. So they are well within the laws to do what they are doing, and should be considered a 100% legally operating company.

Emerald Marketing does not look like it is licensed in Florida. It is licensed in Nevada. I would pay the rest of the principle you owe them. They might want at least a $90 interest payment to consider your account paid in full but that is up to you whether you want to give in or fight to just pay principle only.

My question is if Cash Net is brokering a loan from a lender to someone in Florida shouldn't the lender be licensed in the State? The Florida Financial Act States that all lenders regardless of their physical location be licensed. If CashNet is arranging a loan they would have to arrange it with a lender that is registered with the FLDFS. They also are required as a CSO to offer rates that are considerably better than those readily available to the public and they do not. They are getting around a law but I don't think they are meeting the criteria and will eventually be stopped.

I hope so . . . . I read somewhere that CSO can broker loans from unlicensed lenders, but I can't find anything in any law that says that. Unforunatly, it's not something we can look into since we can't get into Cash Net's records, so I'm really hoping Florida does take notice and really look at Cash Net USA's practices there . . . .

Where did you see that they must offer rates better then those available to the public?

I see this under prohibited acts:


But they are not charging you for the referral . . . . Are there more laws pertaining to CSO's for Florida? I'm looking in Chaper 817 . . . .

Seeing as Florida is investigating them currently, I am hoping they find something to stop them. It might be too late to help me but at least if they do find something it would help someone else.

If you condense that it says they are prohibited to charge or receive money if the the credit is substantially the same as available to the general public. I, as the general public, can walk into any payday loan store here and get a 400 dollar loan that costs 445.00. Their loans don't cost less then that. They cost about the same or more!