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Sep 5, 2011
NH has just issued a 30 day Cease and Desist order against Northway/Cashtransfer etc.. If you are in the Granite state and have a loan with them - they can no longer collect because they are an un licensed payday lender, and are charging way more than legal interest in NH. Just file a complaint with the banking commission and thy cant touch you, even for the principle. If they don't respond (and I bet they don't because the state wants restitution for wronged individuals) then the C&D becomes permanent and the States Attorney can have a crack at them. Hope this helps someone.
PS - you can file similar complaints against any payday lender who is not licensed or charged more then 36% interest in NH.
PS - you can file similar complaints against any payday lender who is not licensed or charged more then 36% interest in NH.