Georgia Payday Lenders Are Illegal. How Do I Get My Money Back? – James

“Dear Steve,

I have discovered the online payday lenders are not licensed to loan money to Georgia residents. Therefore, all online payday loans are considered illegal in Georgia. However some Georgia residents received loans because the companies stated they were sovereign entities. However the State attorney office of Georgia states it is still illegal. Some of these companies were instructed by the state of Georgia not to loan any Georgia residents anymore money, however some of these companies continued their illegal practice.

If I am a Georgia resident and have loans with these online payday lenders, do I have any recourse against these companies. Also, I would be willing to pay back the principle amount borrowed, and would be willing to consolidate all of the online loans I have. None of these companies are licensed in Georgia. What do you recommend in a situation like this?



Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

Dear James,

You should do several things.

The first would be to follow the dispute and refund request process I outline in this article. sure you follow all the steps.

If the company fails to respond appropriately then I would go to NACA.net and look for a consumer attorney in your state.

An illegal loan may be cancelled.

Please post your responses and follow-up messages to me on this in the comments section below.

Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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