Sat, 09/07/2013 07:10
So, here's a question-- a friend got an online loan from Action Payday. She currently has paid 1200 on a 400 dollar debt (yes, I have yelled at her for not keeping a close eye on things), but today we went to the bank, closed out the account and ensured they can't take anymore.
Now, As far as I can see and the Department of corporations can find out, Action Payday isn't licensed in the state (they're supposedly located in Nevis, West Indies).
Can they sue for any recovery at all? My assumption is you could pretty much deep six any small claims suit by just pointing out that A. they're operating illegally in the state and B. they have already recovered far more than the original loan by illegal methods.