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I am in Utah and need help with 5 PDL

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Here are some information I have for the PDL companies. I have not defaulted on any loans but close to not being able to afford to pay them. Please Help !!! I live in Utah.

Magnum Cash Advance (Internet)- original amount ($500), only paid $194.36 so far, I still have 3 more payments left.

Think Cash (money was funded by First Bank of Delaware) (Internet)- Original amnt ($500) and have paid $167.56 so far. I still have 10 payments left each is for $83.78.

Cashin30minutes- Internet (Original amnt $465, paid $126.74 so far). I still have 5 more payments left each for $126.74.

Discount Advances- Internet. Original amount $408, paid $199.75.

Check city.com- Internet. Original amount $475 and paid $242.25 so far.




Think Cash is an installment loan, and legal. You will have to make arrangements to pay that one off.

The other one's may not be legal. They must be licensed in Utah to lend to Utah residents.

Sub: #1 posted on Fri, 07/25/2008 - 22:29

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

Check City is licensed in Utah so you will need to work something out with them. For me they were very easy and friendly to deal with.

Keep in mind that while Utah does require that payday lenders be licensed in Utah, there are no specific provisions in the law voiding the loan if it is made by an unlicensed lender. Also, there are no interest rate caps.

However, Utah does not allow automatic rollovers. You have to call or notify your lender each time you want the loan renewed. If you loans have been automatically rolling over, your lenders have been in violation of Utah Law.

How I would go after these guys is by demanding proof that they are licensed in Utah and point out that they have been automatically rolling the loan over without your request in violation of Utah law. With my unlicensed lenders I ended up paying the principal balance plus the initial finance fee. For most of them I had already overpaid.

Sub: #2 posted on Sat, 07/26/2008 - 00:54

ryanb_84054 ryanb_84054

(Posts: 30 | Credits: 5.72)

I should also mention that you should also file your complaints with the Utah Departent of Corporations and Commerce as well as the Utah Attorney Gereral's office. The Department of Commerce regulates the payday loan industry and can also levy administrative fines for unlawful activity. One of my lenders finally marked my account PIF when the costs of the state fines exceeded what they were trying to collect from me.

Sub: #3 posted on Sat, 07/26/2008 - 01:14

ryanb_84054 ryanb_84054

(Posts: 30 | Credits: 5.72)

Thank you for the information.

Sub: #4 posted on Mon, 07/28/2008 - 22:55

jalensolis jalensolis

(Posts: 3 | Credits: 0.82)

Currently all of these PDL are being debited out of my account automatically, should my first move be to close my bank account? Should I close my account first and inform the lenders that I have closed my account or should I inform the lenders first that I will be closing the account?

Sub: #5 posted on Mon, 07/28/2008 - 22:57

jalensolis jalensolis

(Posts: 3 | Credits: 0.82)

Also, they use a yahoo address because we all know how trustworthy that makes a company...

Shoo, scammer, the members of this forum are actually interested in getting away from scumbags like you, not digging themselves deeper into debt

Sub: #6 posted on Tue, 07/29/2008 - 19:58

drburr drburr

(Posts: 108 | Credits: 12.52)

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