February 7, 2013
Unlicensed Payday Loans
The Washington State Department of Financial Institutions (DFI) has received complaints from Washington consumers who reported they obtained online payday loans from netPDL. This company has been associated with the following website and telephone numbers: netPDL.com; 1-888-203-0106; and (316) 665-7397.
NetPDL is not licensed by DFI, and is not registered to conduct business in the state of Washington by the Department of Revenue or the Secretary of State. DFI has been unable to locate a mailing or email address for netPDL.
Payday Loan Collection Laws
Washington State law prohibits threatening or harassing behavior by individuals attempting to collect a debt. The federal Fair Debt Collection Practices Act states that debt collectors must send consumers a written notice within five days of the first collection phone call, stating the amount of the debt and what it relates to. Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers' places of employment.
DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the "Verify a License" feature on DFI's website at www.dfi.wa.gov.
If you are suspicious of unlicensed activity by a payday lender contact the Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.
If you feel you have been the victim of a loan scam, contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357), or online at www.ftc.gov.
If you feel you have been the victim of a scam involving the Internet, contact the Internet Crime Complaint Center at www.ic3.gov.
If you feel you have been the victim of a scam and are concerned about your personal financial information, contact your banking institution and the three major credit bureaus.