How do I find out if a payday loan company is illegal? and Phone Call with President about Student Loans

How do I find out if a payday loan company is illegal?

I took out a loan through plain green loans and now I am being told that they are illegal. How do I find out if this is true?


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Answer by TStarnes
In most cases the website is just an access point into a person who will loan you the money (the lender). The site itself is rarely "illegal", although there are some laws as far as disclosure of loan % etc that you have to keep in mind.

Take a site like http://imperialpaydayloans.com/ for example. You fill out their form and they submit you to a batch of lenders. If one of them buys you will go to that lenders esig (electronic signature) page. That is who you need to look up.

I know that didn't directly answer your question. For both sites and lenders you can check the ripoff reporter, the BBB, as well as with state records for where that site/lender is based for lawsuits and what not (The last is a pain to be sure). Those places will give you a clue if any other consumers have had issues.

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Phone Call with President about Student Loans


Image by MDGovpics
Governor O'Malley takes phone call with president about student loans by Tom Nappi at Governor's Office, State House, Anapolis, Maryland

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