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Ely
Ely, Counselor at Law
Category: Consumer Protection Law
Satisfied Customers: 100583
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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are internet payday loans legal in Ohio

Resolved Question:

are internet payday loans legal in Ohio
Submitted: 6 years ago.
Category: Consumer Protection Law
Expert:  Ely replied 6 years ago.
Hello,



My name is XXXXX XXXXX I am one of JustAnswer's legal experts. I'll be helping you resolve your matter today.



Please remember that there might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.


They are legal but are bound by the SAME laws as regular payday loans. You generally have three options.NEGOTIATIONContact them and explain that you have received an “x” amount of funds and that you would like to propose a settlement. Usually starting like that will get their attention.
Also you might mention that you are attempting to clear up all of your debts in order to avoid being forced to file bankruptcy. These are usually very good key phrases.
CREDIT COUNSELING / DEBT CONSOLIDATION
This is a free service offered by a non-profit that will negotiate with creditors to establish a debt management plan (DMP) for you. The DMP often includes lesser payments per month and maybe even an overall lesser debt. While many promise 50% cut, a cut of 10% to 20% is more likely.This is a good option, but your credit will reflect it, and your credit might suffer a little because of it.BANKRUPTCYWiping the slate clean and getting to keep a lot of your stuff (house, car, jewelry, thousands in cash, etc, etc – basically a LOT) is a good plan for many who just are FED UP, and it might work for you if you really feel you will never ever pay the debt off. Your credit will be down in the dumps for seven years, but then you will emerge reborn. You generally have two options available for personal bankruptcy:-Chapter 7, which basic liquidation of many assets and the quickest; and-Chapter 13, if you have a steady income, it allows non-liquidation and the Court sets up a a plan to repay all or part of what you owe.


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Customer: replied 6 years ago.
THese are all internet loans, I called Consumer Credit - they do not do payday loans and it is only a matter of 2500 dollars so i would not file bankruptcy. I am not trying not to pay them I just don't want them deducted from my checking. It is depleting my account. Is is legal for me to stop payment or close my account and then pay them directly.
Expert:  Ely replied 6 years ago.
Is it legal? Yes. Can they file suit if you do NOT pay them? Yes. It's not criminal for you to do this, but you can expose yourself to lawsuit if you default on paying them back.

Best of luck in your matter. I'm here if you need any more clarification or follow up information.



I hope you found my answer helpful, and if so please click on the ACCEPT button. This is the only way for me to get credit for my work - when you put in your payment information, I receive no credit for my time with you unless you press ACCEPT.



There is no fee for follow up questions should you wish to continue in this thread.



Remember, sometimes the law under which your situation falls does not give you the outcome or the choices you wanted - please understand that this is not the attorney's fault, but the way of circumstance.



There might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.



If you feel that I went an extra step to help, a bonus would be appreciated!



You can always request me for a future legal consultation through my profile at http://www.justanswer.com/profile.aspx?PF=7286322&FID=7 If you do this, make sure to begin the question with “This Question is for Eli…”














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