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I have several payday loans. I attempted to find licenses for all of them but could only locate one for Cash Net USA. My lenders are as follows:
Cash Net USA
Great Plains lending
Multi loan source
Castle payday
Ideal Gelt
The multi loan source loan is in collections with Searay portfolio and they are threatening to get a judgment. I asked them to send me paperwork describing the debt and how they have concluded on their final numbers. They told me that it would take too long to do that and I needed to pay before they sent claims to my county. Does this seem legitimate? Are these loans legal on Ohio?
Paperwork describing the debt
Welcome to the forums!!!
All of the above mentioned pdl companies are illegal in your state except Cash Net USA. You owe only the principal to the illegal lenders. Don’t worry…illegal lenders can’t take any legal action against you. In this case it would be better for you to close down your old bank account and open a new one to stop debiting money from your account. As far as Cash Net USA is concerned, you owe them both the principal and interest. In this case try to negotiate with them and set up a payment arrangement with them.