Monthly Archives: February 2014

Real World Example of an Illegal Payday Loan

Read This! Substitute YOUR state/province where appropriate:

You owe a payday loan lender money? Use the following approach for determining the legality of your payday loan as a “template” for getting out of your payday loan.

The Washington State Department of Financial Institutions (DFI) has received a complaint from a Washington consumer who reported they obtained an online payday loan from www.bestchoice123.com. The website lists a contact number of 800-528-8066 and purports to be operating from Nevis, West Indies.

Bestchoice123.com is not licensed by DFI as a small loan or payday lender, and is not registered to conduct business in the state of Washington by either the Department of Revenue or the Secretary of State. Washington residents are advised that Continue reading Real World Example of an Illegal Payday Loan

You Can Get a Payday Loan at the Post Office

Post Office Payday Loan
Post Office Payday Loan

Yep, that’s right. Coming to your local United States post office you may soon be able to get  a payday loan compliments of U.S. taxpayers. The U.S.Postal service enlisted a consultant to research and produce a “white paper” on how the U.S. Postal Service can increase revenue by $9 billion dollars annually and help the “underbanked” gain access to small dollar, short-term loans.

Of course, the payday loan industry is incredulous :-). “Freaked-out” might be a more accurate term for their response. The industry is already pissed Continue reading You Can Get a Payday Loan at the Post Office

How to Screw Your Payday Loan Company

How to screw your payday loan company
Is your PDL legal?

How do I find my state’s bank regulator? (Copy & paste your regulators’ URL)
Alabama
Regulator: Alabama State Banking Department
Address: P.O. Box 4600 Montgomery AL 36103
Phone: (334) 242-3452
Fax: (334) 353-5961
Website: www.bank.state.al.us/

Alaska
Regulator: Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau AK 99811
Phone: (888) 925-2521
Fax: 907-269-8146 (Anchorage); 907-465-1231 (Juneau)
Website: http://www.commerce.state.ak.us/bsc/

Arizona
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Website: http://azdfi.gov/

Arkansas
Regulator: Arkansas Attorney General Continue reading How to Screw Your Payday Loan Company