Comments on: Credit Service Organizations: Payday Loan Lenders http://www.leadpile.com/lead-exchange-blog/2009/02/20/credit-service-organizations-payday-loan-lenders/ Leadpile - The World's Largest Lead Marketplace / Lead Exchange - Where Lead Buyers and Sellers Meet! Thu, 29 Sep 2011 15:20:30 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Cristina http://www.leadpile.com/lead-exchange-blog/2009/02/20/credit-service-organizations-payday-loan-lenders/comment-page-1/#comment-5474 Cristina Tue, 24 Feb 2009 17:03:34 +0000 http://www.leadpile.com/lead-exchange-blog/?p=6224#comment-5474 Jer, is this something that you would say the majority of payday lenders are currently utilizing? It's true some lenders might become extreme and then law makers will regulate it but for the meantime what is your feedback with regards to lender usage? Do you feel majority of lenders know about it? Jer, is this something that you would say the majority of payday lenders are currently utilizing? It’s true some lenders might become extreme and then law makers will regulate it but for the meantime what is your feedback with regards to lender usage? Do you feel majority of lenders know about it?

]]> By: Jer@PaydayLoanIndustryBlog.com http://www.leadpile.com/lead-exchange-blog/2009/02/20/credit-service-organizations-payday-loan-lenders/comment-page-1/#comment-5424 Jer@PaydayLoanIndustryBlog.com Sun, 22 Feb 2009 21:40:27 +0000 http://www.leadpile.com/lead-exchange-blog/?p=6224#comment-5424 CSO's, or Credit Services Organizations have been popular for several years. Payday loan and car title loan operators have been using them with great success. We've been advising our clients in Texas, Colorado, Florida and more that this model can be effective if set up correctly. Basically, you must create 2 separate and distinct entities; the CSO and the Lender. The CSO markets and services the loan while the Lender funds the loan. Our major fear is that the CSO model will be abused and regulators will attack it! JerJer CSO’s, or Credit Services Organizations have been popular for several years. Payday loan and car title loan operators have been using them with great success.

We’ve been advising our clients in Texas, Colorado, Florida and more that this model can be effective if set up correctly.

Basically, you must create 2 separate and distinct entities; the CSO and the Lender. The CSO markets and services the loan while the Lender funds the loan.

Our major fear is that the CSO model will be abused and regulators will attack it!

JerJer

]]> By: Cristina http://www.leadpile.com/lead-exchange-blog/2009/02/20/credit-service-organizations-payday-loan-lenders/comment-page-1/#comment-5414 Cristina Fri, 20 Feb 2009 17:24:33 +0000 http://www.leadpile.com/lead-exchange-blog/?p=6224#comment-5414 Very interesting! Something I would like to hear more about. Very interesting! Something I would like to hear more about.

]]> By: Mari H. http://www.leadpile.com/lead-exchange-blog/2009/02/20/credit-service-organizations-payday-loan-lenders/comment-page-1/#comment-5404 Mari H. Fri, 20 Feb 2009 14:54:31 +0000 http://www.leadpile.com/lead-exchange-blog/?p=6224#comment-5404 Thank you for the response. Actually from what I am reading CSOs are not just in Texas. They are throughout the US. I am sure we will continue to hear more more about CSOs, as more states start implementing payday lending laws. Thank you for the response. Actually from what I am reading CSOs are not just in Texas. They are throughout the US. I am sure we will continue to hear more more about CSOs, as more states start implementing payday lending laws.

]]> By: Cristina http://www.leadpile.com/lead-exchange-blog/2009/02/20/credit-service-organizations-payday-loan-lenders/comment-page-1/#comment-5394 Cristina Fri, 20 Feb 2009 14:45:39 +0000 http://www.leadpile.com/lead-exchange-blog/?p=6224#comment-5394 So author, does this mean that CSO's per say can charge high interest rate's without breaking any laws? Interesting how this is only happening in TEXAS an not in any other state. Hmm, I would be interested in learning if other states have similar Organizations that is not in the public's eyes? Maybe payday lenders should take a different directions to be able to fund more loans... Just a thought! So author, does this mean that CSO’s per say can charge high interest rate’s without breaking any laws? Interesting how this is only happening in TEXAS an not in any other state. Hmm, I would be interested in learning if other states have similar Organizations that is not in the public’s eyes? Maybe payday lenders should take a different directions to be able to fund more loans… Just a thought!

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