are online payday loans illegal in kentucky?

i asked question on may 25th and received no replies to my questions. I stopped the withdrawals from my bank. Gave them no contact orders other than emails. Have heard from 1 company and then got collection co calls. No one will provide me their license #\'s to see if they are legit in the state of Kentucky. Contacted Attorney Gens office , keep getting recording. And no advice from anyone here.. HELP

2 Answers

Payday loans are legal; however, Internet payday loans are illegal in Kentucky.  If you look on the Ky Attorney General's office website you will find this info.  Their website clearly states they do not issue licenses to internet payday loan companies and all payday loan companies should have a store front in order to obtain a license. Since they are illegal in Ky you do not have to pay interest or even the principle amount and there is nothing they can do to you but call and harrass and threaten you, but when it comes down to it If you have business with an internet payday loan company you do not have to pay it back.  I have information that I would be more than happy to forward on to you.  My email is "shadams82@gmail.com".  I also have a template to a letter that you can send to the payday loan co stating the laws of our state. 


Payday loans are considered as legal in Kentucky. Nevertheless, you should contact the Kentucky Office of Financial Institutions in order to find out whether or not your payday lenders are licensed to operate in your state.


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