Internet's first get-out-of-debt community - 128,000 members

Posted: Fri May 18, 2007 12:46 pm

Hi,
I live in CT and I have done about 8 payday loans and now they are killing my checking account. PLEASE help and give me some advice????

Thanks

Posted: Fri May 18, 2007 12:57 pm

First thing is close your account and open a new one and give the info to nobody. Then you can expect a lot of threats. Who are the PDL companies that you have the loans with. We pretty much know them all and what to expect from them. Also how much have you borrowed from each and how much have you paid including rollovers. Go to paydayloaninfo.org and you can find the laws of your state there. Or wait and someone will post it here. You might not be as deep in the hole as you think. Please do not let these people intimidate you. Make sure from the get go that they all get a certified letter from you telling them that they are not to call you at home or at work and that all wage assignment agreements are hereby revoked. Get ready to fight the good fight. You will win many if not all of them. You have come to the right place. There are many people here including myself who have gotten caught up in the PDL trap. It looks scary and hopeless at first but it is not. We are all here to help

Posted: Fri May 18, 2007 4:22 pm

Hi Spercy,

Welcome to the forums Smile

Frogpatch has given you some good advice. Are these internet loans or store front lenders? If you supply us with more information, then we will be able to help you more.

Posted: Fri May 18, 2007 4:25 pm

Please file a complaint with your state's Attorney General and Dept. of Financial Institutions. It looks like pdls are illegal in your state and these companies must be licensed and follow your state's small loan act, ($17 per $100 is what is allowed)

Guest · Posted: Sat May 19, 2007 10:09 am

HI,
Thank you for responding...
I have a $500 loan w/ CASHSUPPLY
I have a $300 loan w/ National opportunities unlimited
$400 with Tremont (paid off on first due date)
$300 with payday-loan-yes.com
$300 with CMG group LLC
$300 Midland marketing
$300 Arrowhead

I also do a loan with CASHCALL from and add I seen on TV. It is for $2700. DOes anyone know anything about them?

I have all there phone numbers. I think...

I did my first payday loan on 4/19/07

On 5/11 Northway debit took 2 payments of $254 each out of my account
On 5/10 CMG GROUP LLC took $90 out of my checking
On 5/10 CASHNET took $120 out of my checking account

There have been numerous ACH return fees since I did the first Payday loan...over 20. So my account is now overdrawn and I don't know which way to go.

I have so far put stop payments on some of them. My back won't close my acount until it is "out of the negative".

On CT Payday consumer info it says:

LEGAL STATUS: Prohibited

CITATION:
usury act applies or small loan act applies. Conn. Gen. Stat.$36a-563

SMALL LOAN RATE CAP:
30.03% APR or $17 per $100 up to $600, $11 per $100 p to $1800; add on interest.

I don't understand what any of there laws mean. PLEASE translate someone if you would. I appreciate it.

Guest · Posted: Mon May 21, 2007 5:18 am

Someone pls help me with this.....I am drowning and worried to death...

Posted: Mon May 21, 2007 6:01 am

Go to your bank and have them put your account on deposit only status. Open another account with a different bank and give the info to NOBODY! Do not even try to bring your account positive with these people trying to filter money from it unless it is on deposit only.
I can tell you I have experience with two of the companies you mentioned. Northway and Cashnet but I can't match them to the ones you have listed above. Northway operates under one name TI know which is Cash Transfer Centers. They WILL send a wage assignment to your employer. You must send them a letter revoking it. Your employer is not required to honor it either. Get in touch with your payroll people and show them the revocation letter.
CashNetUSA is a licensed company in every state that they deal with but there is another Cash Net out there also. My guess is you are dealing with the other one because the state you live in prohibits those loans.
Send out as many letters certified as you can revoking all ACH withdrawals from these companies. Not emails. They probably won't stop but it will give you some recourse with you bank to get some of your overdraft charges reversed. If neccessary you may consider filing a comlpaint with the Office of the Controller of Currency against your bank if you feel that the overdrafts were not your fault. I am sure there are other people here that can tell you about the other loans that you have. Do not worry. There is light at the end of the PDL tunnel.

Posted: Mon May 21, 2007 7:28 am

PDL's are illegal in your state which means that these lenders never should have lent to you in the first place...you should contact your attorney general and file complaints against each company. As for cashcall....they have found a way to get under any laws and there is not much you can do about them. Unfortunately on that loan you got, you will pay back almost 10 grand for a 2700 loan

Posted: Mon May 21, 2007 7:50 am

The cashnet the original poster is referring to is cashnet500 . . . . As frogpatch said they are not the same as cashnetusa. They also use the name payday loan yes, which does match up to a loan you have. Do a search for cashnet500 on this forum, and you will see what you can expect from them. I've personally dealt with them, and they are a headache plus . . . . . They are up there on my list of worst payday loan companies, right behind route 66, which is number 1!

Al · Posted: Sat May 26, 2007 9:57 am

I started a loan application, but never completed the process or electronically signed anything, yet a loan of $200 posted to my account from CMG Group and I have no idea how to contact them. I did a search on the net but found nothing. Does anyone have a phone number for this company?

Keisha · Posted: Wed May 30, 2007 11:00 am

I received a payday loan and after I paid it off, I still continue to get $90 taken out of my bank account every two weeks. I have not found any contact information for this company. Any help on how to get my money back???

buddy2 · Posted: Sat Jun 23, 2007 3:51 pm

Could anyone out there give this number to me. Evil or Very Mad

buddy2 · Posted: Sat Jun 23, 2007 3:55 pm

I just wrote a message. it was asking a number to a company that i lost there phone number.
If you can help please email me CMG GROUP LLC number.

buddy2 · Posted: Sat Jun 23, 2007 4:27 pm

To the person that is drowning and worried!
Please take it easy, and don't let it weigh you down how about trying prayer. If no one is answering you lift your self and check to see if your really on this system correctly.
Please don't let our needs sink us because of the penalty for using Payday loans. I think they helped me to get thru my time of need, but now there beginning to take it toll.

Posted: Sat Jun 23, 2007 4:30 pm

Bussy it sure never hurts to pray. I did a lot of praying and learning thru my payday loan nightmare. There is a light at the end of the long tunnel. KYSIDE38

Posted: Sat Jun 23, 2007 5:43 pm

Buddy,

CMG Group LLC/OSL Marketing
Customer Service 1-866-516-9300
Fax 1-566-516-9700

1018 Summer Oak Ln
#103
Las Vega, NV 89134

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