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LLS America (Little Loan Shoppe)



Unregistered

Sub: LLS America (Little Loan Shoppe)
Mon, 04/10/2010 16:18

I was told on another thread that LLS America (Little Loan Shoppe) is not licensed in FL. I live in Florida it's a $300 Internet based loan from LLS (Little Loan Shop). They are charging me $105 in fees every 2 weeks on a $300 loan. I sent them the template letter stating they were illegal and this is the response I received. Where do I go from here, my loan isn't beind right now but it will be as of wednesday......please advise.

We are in receipt of your letter, and would like to take this opportunity to address you concerns. The Little Loan Shoppe (???LLS America???) prides itself in complying with the law and providing excellent products and customer satisfaction. We take very serious all complaints and allegations against our practice and procedures.

In order to provide the best services available to our clients we comply with best practices including federal banking guidelines such as the Truth in Lending Act and Regulation Z disclosures. As part of those disclosures, and more particular to the instant matter, is the fact that LLS clearly presents the following disclosure to its borrowers:

GOVERNING LAW: You acknowledge that we are a Utah-based lender, and you acknowledge that this consumer Unsecured Short Term Installment Loan Agreement is governed by the laws of the State of Utah. You acknowledge that Utah laws governing this Unsecured Short-Term installment loan agreements may differ significantly from the laws of the state where you reside. You agree that courts located in Salt Lake City, Utah, shall have exclusive jurisdiction and venue of any disputes arising from this Unsecured Short-Term installment Loan Agreement.



I would be more than happy to fax you a full copy of your contract please provide a fax number.



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ballplayersmom
ballplayersmom
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Sub: #1 Hey guys, Its been a couple weeks. Have had some personal thingMon, 10/04/2010 - 16:18



Hey guys, Its been a couple weeks. Have had some personal things going on but Im back! Still have 2 PDL's, I havent done much pushing in the last month because I have been consumed with trying to find a job!!! But needed to get back to things and try to figure out how to deal with LLS and Global Group!!!!


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Sub: #2 Thanks OhioGal and Paul!! MikeWed, 09/22/2010 - 11:22



Thanks OhioGal and Paul!!

Mike


OhioGal1
OhioGal1


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Sub: #3 Thanks, Paul.Wed, 09/22/2010 - 10:36



Thanks, Paul.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.


paulcahill80
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Sub: #4 Quote:Originally Posted by OhioGal1Mike - I posted the link for Wed, 09/22/2010 - 10:22



Quote:
Originally Posted by OhioGal1
Mike - I posted the link for the list of RI licensees but a moderator has to review and approve it first. I forgot to deactivate it :)


Hi All,

I am posting the link of the licensee database of RI since OhioGal's posting has not been moderated till now. Hope it helps.

dbr.ri.gov/documents/divisions/banking/program_operations/List_of_Licens ees.pdf


screwedinaz
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Sub: #5 I was thinking about this post last night and trying to parse ouWed, 09/22/2010 - 09:02



I was thinking about this post last night and trying to parse out the true difference between "installment loans" and "payday loans", why they are regulated differently, etc. The conclusion I reached, and someone with more knowleged maybe can confirm this, is that it's not really whether they call themselves an installment loan or not - it's where the money comes from. Companies like First Bank of Deleware are not subject to payday loan laws because they are a bank, not because they issue installment loans. So - what's my point - even if LLS is saying they are an installment loan, since they are not a bank they are subject to the usury laws of the resident state of the lendee. I know in AZ loans under $10,000 made by nondepository institutions, i.e. not banks, are capped at 36% interest and must be licensed. If LLS is not licensed and is giveing loans at a higher interest rate, it doesn't matter what they call the loan, they are violating the law. These are just my thoughts - not a legal opinion or anything - but it's how I read the law in AZ. Just food for thought.


OhioGal1
OhioGal1


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Sub: #6 Mike - I posted the link for the list of RI licensees but a modeWed, 09/22/2010 - 08:49



Mike - I posted the link for the list of RI licensees but a moderator has to review and approve it first. I forgot to deactivate it :)

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.


Unregistered

Sub: #7 I just spoke to the Dept of Business Regulation in RI. After veWed, 09/22/2010 - 08:47



I just spoke to the Dept of Business Regulation in RI. After verifying that LLS America has no license in RI (as OhioGal had already told us) I asked how should I respond to the emails telling me I owe them money. They told me the best response is to ask them "What is your RI State Lenders License number?"

Mike


Unregistered

Sub: #8 Quote:Originally Posted by OhioGal1LLS is not licensed in NJ. Tue, 09/21/2010 - 12:18



Quote:
Originally Posted by OhioGal1
LLS is not licensed in NJ.
LLS is not licensed in FL.
LLS is not licensed in RI.


Thanks OhioGal!!! Is there a link that I can include in my reply to them to show them they are not licensed in RI?

I appreciate your help,

Mike


OhioGal1
OhioGal1


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Sub: #9 The same way you would any other illegal lender. They're unliceTue, 09/21/2010 - 10:38



The same way you would any other illegal lender. They're unlicensed, therefore not allowed to lend to you.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.


ballplayersmom
ballplayersmom
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Sub: #10 Since LLS is not licensed in NJ and is not consider a PDL how caTue, 09/21/2010 - 09:30



Since LLS is not licensed in NJ and is not consider a PDL how can we fight them??


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