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Can someone explain to me why THINK CASH is legal?? I think I saw that somewhere. I am in Ohio and why don't they have to abide by Ohio laws. They said that they are licensed in Ohio and I could find their license number on the website. Well I can't. I am agreeing to pay $50.00 a month and she almost laughed at me. I borrowed $500.00 and the payments are approximately $163.00 a month. I have already paid them $163.00




I think I read yesterday that Think Cash is part of the bank of Delaware. Delaware has very loose laws regarding financing. If I recall correctly, isn't Think more of an installment loan than a PDL?

Sub: #1 posted on Tue, 07/29/2008 - 21:19

jt jt

(Posts: 101 | Credits: 12.43)

Yes they part of the Bank of Delaware and they are installments, but they are still overcharging in interest rates according to the State I live in.

Sub: #2 posted on Tue, 07/29/2008 - 21:24

jlw2345 jlw2345

(Posts: 22 | Credits: 5.53)

It doesn't matter what your state laws say.

Federal Law gives FDIC insured banks the right to lend in other states while following their home state's laws. They would not need to be licensed in each state, only their home state.

In this case, the laws of DE would apply, not the laws of Ohio.

Sub: #3 posted on Tue, 07/29/2008 - 21:32

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

OK so do I need to pay the scheduled amount or will they work with me??

Sub: #4 posted on Tue, 07/29/2008 - 21:56

jlw2345 jlw2345

(Posts: 22 | Credits: 5.53)

I'd call them and see if they will work with you - But just keep in mind that it is a legal debt and they can sue you to collect.

Sub: #5 posted on Tue, 07/29/2008 - 22:16

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

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