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Can out of state internet payday loans gave loans to people living in nebraska? and if they can, must they follow nebraska laws on pdl or the state the pdl is residence of?[size=2][/size][size=3][/size]




I was just searching the forum, and found that in order for Internet pdl's lend to Nebraska residents, they must have a license in Nebraska.

Your laws:

Quote:
Nebraska State Information

Legal Status: Legal

Citation:
Neb. Stat. Ann. ???? 45-901

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15 per $100 or pro rata for any part thereof on amount of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance, consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action:

Where to Complain, Get Information:
Regulator: Nebraska Department of Banking & Finance
Address: Financial Institutions, 1230 'O' Street, Suite 400 P.O. Box 95006 Lincoln NE 68509
Phone: (402) 471-2171
Fax:
Regulatory Contact: Karen Reynolds,, Review Examiner

Sub: #1 posted on Sun, 08/03/2008 - 05:32

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

On the out of state pdl or internet loans, I cannot fax them in time to let them know I am revoking the ach withdrawals. I spend all last week debating on how to handle this situation. I know this will default because of the hold on my account. What do I do now, I do not have the money to fax them. I can email them right now and then send a letter when I get paid, because again I don't have the money to cover the certified mail to them. This just shows how bad my money situations are, I can't even donate blood because of bad health problems and cannot even get a job because of financial situation nationwide, I been looking for a parttime job for 3 years now and still can't get one. I am trying burger king now wish me luck.

Sub: #2 posted on Mon, 08/04/2008 - 07:48

drkreaver69 drkreaver69

(Posts: 23 | Credits: 10.47)

I was reading my online agreement for the internet payday loan. It says they can send it in paper if you revoke the ach. Can they do that and also because I just found out the internet pdl are not legal can they do that.

Sub: #3 posted on Mon, 08/04/2008 - 11:01

drkreaver69 drkreaver69

(Posts: 23 | Credits: 10.47)

As long as you have placed a hard hold on your account nothing can come out of your account, even if they attempt to use it as a fake paper check. Is your account still opened?

Sub: #4 posted on Mon, 08/04/2008 - 16:25

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

No worries about faxing them, all I used were emails, I didn't even send certified mail. Emails are sufficient in my opinion because you can print them off as proof ACH's were revoked.

Sub: #5 posted on Mon, 08/04/2008 - 16:26

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

Thanks everyone for the information. I emailed on last night and will do the other after work. I was stressing to the max on how to send the info. My account is still open, the bank put a $1,000,000 hold on it. My credit card payment tried to go thru after I said maybe and they sent it, put me at a negative $29 plus I have a $5 a day charge for the negative, what a bummer.

Sub: #6 posted on Mon, 08/04/2008 - 22:44

drkreaver69 drkreaver69

(Posts: 23 | Credits: 10.47)

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