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 Posted: Thu Mar 08, 2007 5:41 pm |
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I have decided to consolidate 7 of my paydayloans..2of which are in paydown mode.The consolidation company gave me a estimate of which I think is reasonable..but they wont start working on my account until next week. My next refinance date on these loans is next week 3/15, however should I close my bank account now or should I leave it open until the consolidation company starts working with them..The consolidation company told me I coul dstart paying them on 3/28..but if these loans are refinanced I wont have the money to pay..What do you think I should do? anyone been in this situation before?
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nasdam007
Joined: 04 Mar 2007
Posts: 123
Debtcc Points: 2441
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| Posted: Thu Mar 08, 2007 5:54 pm |
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anyone? any advice?
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nasdam007
Joined: 04 Mar 2007
Posts: 123
Debtcc Points: 2441
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| Posted: Thu Mar 08, 2007 5:56 pm |
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Hello what state are you from? Have you overpaid any of these loans? Kyside38
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
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| Posted: Thu Mar 08, 2007 6:00 pm |
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I am from Florida..Ameriloan and One Click Cash had me refince 4 times and then started to deduct 50 plus finance charges each pay period..Payday cash link and Gfs just take out refinance Payday cashlink I refinanced 4 times already..Gfs I refinanced $80 now down to $35 thay take 5 off each refinancing. The others Geneva Roth and BMG, I owe 390 each..BIG i owe 305
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nasdam007
Joined: 04 Mar 2007
Posts: 123
Debtcc Points: 2441
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| Posted: Thu Mar 08, 2007 6:03 pm |
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You may need to close the account. It's the only way to ensure these companies don't take the money out.
Be aware that most banks will force open accounts that have been closed if an ach transaction comes through within a certain amount of time. If you do close your account, you need to talk to the banker and explain your situation. Write letters to each pdl revoking your authorization to debit the account, and take these letters with you to the bank. Tell the bank that these companies have a bad habit of ddebiting the account even without authorization, and that you want to close the account. As them if there is any way you can make it so that nothing will reopen the account.
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goudah2424
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| Posted: Thu Mar 08, 2007 6:05 pm |
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Have you checked youir Secretary of States website to see if they are legal to do business there? 99.9 percent chance they are not. COMPLAIN to your Attorney Generals office and see what thewy can do. It sounds like you have already paid a lot towards these loans. In my state they are ILLEGAL. KYSIDE38
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KYSIDE38
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| Posted: Thu Mar 08, 2007 6:07 pm |
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I called most of them and I told them I am consolidating..Some said okay But oneclick in particular had me know that they are going to send the ach debit through anyways and that when it was returned I would have to also pay the return cost and what I owe.
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nasdam007
Joined: 04 Mar 2007
Posts: 123
Debtcc Points: 2441
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| Posted: Thu Mar 08, 2007 6:09 pm |
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they tell me that they go buy the laws of the state they are in
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nasdam007
Joined: 04 Mar 2007
Posts: 123
Debtcc Points: 2441
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| Posted: Fri Mar 09, 2007 7:45 am |
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If the PDL company is lending in a state where there are not registered, they are ILLEGAL and all you pay is the principal plus the appropriate interest as legislated. Notify the AG for the state you are in and copy the PDL on any correspondence to the AG. These companies have to be stopped.
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