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goodnatured
Joined: 03 Nov 2007
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Posts: 3927
10 Magic Points
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Subject: OMG, ADVANCE AMERCIA
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Sat Aug 09, 2008 11:04 am
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If you live in Pennsylvania and you had dealing with Advance America, the department of banking is going to seek restitution for it's residents. just go to "http://www.banking.state.pa.us/banking/lib/banking/news_and_events/pr ess_releases/2008/banking_aa_pasc_decision_053008.pdf"
If they delete this link, just google pa department of banking. It is on the first page.
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Goodnatured,
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cbass1017
Joined: 01 Feb 2008
cbass1017's page
Posts: 143
Location: PA
1528 Magic Points
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Sun Aug 10, 2008 1:24 am
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Thanks for the tip Goodnatured! I live in PA and had just noticed that they had recently closed one of their offices in my area. I wondered why because they were always so busy there but now it makes a little more sense.
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Scott McKay
FreeOnlineCreditGuide.com |
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fireyone
Joined: 26 Feb 2008
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Posts: 4285
127 Magic Points
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Sun Aug 10, 2008 1:49 am
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| Who is this company. The name sounds like a type of payday lender. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3927
10 Magic Points
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Sun Aug 10, 2008 3:37 am
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I am really interested in this because they also stated that they are looking for restituion for the residents of Pennsylvania, this company was one of the ones that I was dealing with when I was in my payday loan cycle of hell. I am following this and I hope that others from Pennsylvania are too, so that we can keep each other updated. Gosh, if they do restitution of those fees at almost $150 a month, that company will owe me a pretty sum of money.
Fireyone, they are a payday lender that used to operate a storefront operation here in the state of Pennsylvania, they are all over the united states though. Pennsylvania forced them to close down there storefront operations through a lawsuit that the Pennsylvania Department of banking filed on behalf of the commonwealth for not complying to Pennsylvania lending laws, then they turned around and changed their product, calling it a participation fee and the Deparment of Banking went after them again and won. They were not happy about being forced to close their doors but it happened in a days time across the state.
You can follow it all on the Pennsylvania Department of Banking webpage, they are a very powerful entity here and do what they can to protect the Pennsylvania residents.
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa |
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anthony
Joined: 31 Jul 2006
anthony's page
Posts: 516
13571 Magic Points
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Mon Aug 11, 2008 5:34 am
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Hi Fireyone
Advance America one of the leading pay day loan companies which provide people with payday advances to meet their immediate financial obligations. It is also a member of New York stock exchange. Recently Commonwealth Court of Pennsylvania had a ruling against this pay day loan company directing this company to suspend all its operations in the state of Pennsylvania.
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Anthony Marx
A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible. |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 686
17396 Magic Points
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Mon Aug 11, 2008 6:20 am
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Yes, Goodnatured is right. There was a lawsuit filed against Advance America by the Pennsylvania Department of Banking because firstly the company was not working as a licensed lender in Pennsylvania and secondly they were charging very high interest rates and fees which are beyond the limit permitted under Pennsylvania law. I think it is the first step to stop the collection agencies from charging high rates of interest and pushing borrowers into vicious circle of debt.
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Where there's a will, there's a way !! |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Mon Aug 11, 2008 1:14 pm
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| Then what I read and posted here from the newspaper is correct. theywere suppose to start the reform and give companies till Feb 2009 to be licensed and lower the iterest rates. For this I see it as a big win for the little guy. I can only imagine what relief some people are feeling. I hope they continue to keep up with these things. People are struggling to survuve and if they see a lifeline out there at a really hard period they are going to grab it. It may not seem sensible later but I am sure it did at the time and that is where these places take advantage of someone. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3927
10 Magic Points
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Tue Aug 12, 2008 1:36 am
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The article that I read about advance america was on the Pennsylvania department of banking web page. It said that they will seek restitution for the residents of Pennsylvania. We need to follow this, these fools will be sending a check my way if the department of banking wins. My hopes are up and my hand is out!!!!!!!!!!! 
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Tue Aug 12, 2008 12:18 pm
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| Who was this Advance America GN? I was figuring a payday lender. Am I correct. I hope if it was they have to pay back all the people they took advantage of. It in my view would serve them right. Please keep us updated. Any small victory is still one for the good guy. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3927
10 Magic Points
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erb1953
Joined: 31 Dec 2007
erb1953's page
Posts: 573
-53 Magic Points
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Wed Aug 13, 2008 1:22 am
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| It will be great for everyone that has been taken advantage of by these thieves, they deserve to have to pay back all the money that they over charged. keep us updated goodnatured, hope you get a pile of money back. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Wed Aug 13, 2008 12:13 pm
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| They should repay some of that enormous interest back I have never heard of 99% interest in my life. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Thu Aug 14, 2008 1:14 pm
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| Don't you hate that when you have to make an important call and you can't? This use to happen to me at the greenhouse I use to work at. Seems like everyone grew bunny ears when you were on the phone. |
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