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Contract Law

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I was speaking with a neighbor last night listening to her complain about bills and thinking of using a payday loan. I came clean and told her the mess I had created and what I was doing to try to clear it up. She was sympathetic and I think I stopped her from doing the pdl thing. But when I got home from work tonight...she left a note on my door saying a friend of hers was a para-legal...and he said if you signed a contract, even if it was over the 'net...you are required by law to fulfill it.

Does that negate everything we are trying to do?? I am getting more confused by the minute here...Help!!!




goudah2424

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Credits: 122486.2

Sub: #1 No, because these places are breaking the law. Illegal contract
Fri, 07/06/2007 - 14:35

No, because these places are breaking the law. Illegal contracts are considered null and void by courts.




cajunbulldog

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Credits: 42498.45

Sub: #2 Goudah is correct.Just about every court has ruled an illegal co
Fri, 07/06/2007 - 15:09

Goudah is correct.Just about every court has ruled an illegal contract is null and void.That is why they threaten the world and don't go to court.




Morningstarr430

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Credits: 41028.1

Sub: #3 How often do these ipdls turn you over to collection agencies or
Fri, 07/06/2007 - 15:31

How often do these ipdls turn you over to collection agencies or garnish wages...??




cajunbulldog

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Credits: 42498.45

Sub: #4 They almost always turn you over to some type of collection agen
Fri, 07/06/2007 - 15:44

They almost always turn you over to some type of collection agency.If you revoke your banking and employment assignment,they cannot garnish without a court order.If they are illegal in your state,they will not go to court.




Morningstarr430

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Credits: 41028.1

Sub: #5 ok...at the top of the Indiana Law for pdls...it says legal...is
Fri, 07/06/2007 - 16:59

ok...at the top of the Indiana Law for pdls...it says legal...is that just if they comply with the interest laws..because none of them are licensed. Darn..I wonder how much it would cost to hire a lawyer to explain it to me ..




cajunbulldog

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Credits: 42498.45

Sub: #6 You would have to go to Indiana's dept of Financial Institutions
Fri, 07/06/2007 - 17:20

You would have to go to Indiana's dept of Financial Institutions license database.You then check each individual lender name against their list.




finsfan13

Posts: 6933
Credits: 65210.65

Sub: #7 Cajun is right..They ain't going to court. I have never ever see
Fri, 07/06/2007 - 17:23

Cajun is right..They ain't going to court. I have never ever seen an internet PDL sue anyone, ever

I think what you;re seeing simply means that PDLS are legal in the state of Indiana. However, they must each be licensed, and I'm willing to be none of them are.




bflow30
Posts: 519
Credits: 9349.65

Sub: #8 That would COST money, hey, they only steal money!
Fri, 07/06/2007 - 18:07

That would COST money, hey, they only steal money!




Morningstarr430

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Credits: 41028.1

Sub: #9 Thanks...to Cajun, Cannr, Fins and Goodah...I think I just need
Fri, 07/06/2007 - 18:08

Thanks...to Cajun, Cannr, Fins and Goodah...I think I just need a few days to recoup and stop thinking about them...then maybe I will feel stronger...:)




Morningstarr430

Posts: 2329
Credits: 41028.1

Sub: #10 I did look up each one under every dba I could find and none of
Fri, 07/06/2007 - 18:11

I did look up each one under every dba I could find and none of them are listed in licensed lenders.




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