| Message |
Author |
 Posted: Wed Sep 12, 2007 9:31 pm |
|
|
Hello, I have 5 pdls maybe just 4 because one is from the Bank of Delaware and it is an installment loan. I just need some advice on what to do because I can not make these payments. I've already changed my direct deposit of my paycheck to another bank account. I have not closed the other account yet but I will talk to them tomorrow. I am scared on what to do when they realize they aren't getting my payments. They will try to go through on Friday. How do I handle this? I do not want them contacting the people I put down as contacts or calling me at work. Any advice would great.
I live in Idaho.
These are my loans:
CASHNET USA
Borrowed $1000
Paid $0
Amount due $1250
CHECKCITY
Borrowed $1000
Paid $510
Amount Due $1170
PAYCHECK TODAY
Borrowed $300
Paid $90
Amount Due $390
PAYDAY ISLAND
Borrowed $300
Paid $75
Amount Due $375
CHECK-N-GO (Bank of Delaware)
Borrowed $1500
Paid $0
Payment Date Amount Due Payment Status
09/14/2007 $336.93 Pending
09/28/2007 $336.93 Pending
10/12/2007 $336.93 Pending
10/26/2007 $336.93 Pending
11/09/2007 $336.93 Pending
11/23/2007 $336.93 Pending
12/07/2007 $336.93 Pending
12/21/2007 $336.88 Pending
Thank you,
Carrie
|
|
ckrishnek
Joined: 12 Sep 2007
Posts: 5
Debtcc Points: 204
|
|
|
| Posted: Wed Sep 12, 2007 9:40 pm |
|
|
Welcome, carrie! You've come to the right place for help!  I see that you have listed out your pdl's, which is wonderful! However, are these all internet? Or are some store front pdl's? And, you're correct regarding the Bank of Delaware loan. That's an installment loan. Licensed/legal. First of all, I'm going to post your state pdl law so that we can all see what's going on here. I see that your state permits 3 rollovers (yuck). So, your internet loans can legally rollover 3 times charging you those fees. However, we do need to look and see if these pdl's are even licensed/legal. Some of them may not even be legal, so they can not charge these fees. You've gotten your direct deposit going to another bank account. Good job. Now, as for your other account that the pdl's have access to, is there a reason you have not closed it? It is in the negative? Your pdl's are going to hit Friday and you're going to have pdl debits on that account plus bank fees added to it. Not good. Please let us know if these are all internet loans or store fronts included (with the exception of the installment loan). We can go from there! Hang on and I'll post your state pdl law. Also, please reply regarding your open account that the pdl's have access to. We can help you here!
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
|
|
|
| Posted: Wed Sep 12, 2007 9:42 pm |
|
|
| Quote: | Idaho State Information
Legal Status: Legal
Citation:
Idaho Code Ann. ยง 28-46-401 et seq.
Loan Terms:
Maximum Loan Amount: $1000
Loan Term: Not Specified
Maximum Finance Rate and Fees: Not Specified
Finance Charge for 14-day $100 loan:
apr for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($1000 aggregate loans outstanding to all licensees)
Rollovers Permitted: Three (renewals)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $20 NSF fee + 12% interest per annum on unpaid amount (if disclosed )
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Idaho Department of Finance
Address: Consumer Credit Section, 700 West State Street, 2nd Floor Boise ID 83702
Phone: (208) 332-8000
Fax: (208) 332-8099
Regulatory Contact: Mike Larsen,, Consumer Finance Bureau Chief
http://finance.idaho.gov/ |
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
|
|
|
| Posted: Wed Sep 12, 2007 9:52 pm |
|
|
Hello Cannr. These are all online loans. I will go to my bank tomorrow and talk to them. I'm not sure if I will want to close the account or change it to no debit allowed. It is with Bank of America.
Carrie 
|
|
ckrishnek
Joined: 12 Sep 2007
Posts: 5
Debtcc Points: 204
|
|
|
| Posted: Wed Sep 12, 2007 9:55 pm |
|
|
Oh and the bank account is not in the negative. Sorry, should have added that.
C
|
|
ckrishnek
Joined: 12 Sep 2007
Posts: 5
Debtcc Points: 204
|
|
|
|
Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2337
Debtcc Points: 39294
|
|
|
| Posted: Thu Sep 13, 2007 3:45 am |
|
|
Okay, morning! Wake up! Carrie's bank account is not in the negative! LOL!  I don't understand why you don't want to close it, carrie. However, if you're more comfortable with just blocking it, then that's fine too. As long as the pdl's can not get their debits. However, if they are due to hit your account like tomorrow, your best bet is to just put that block on it. That way it wouldn't be "forced" open if you closed it this late. Next step is going to be looking to see who is licensed/legal and who is not. I can check on this or morningstarr or anyone. I have to get ready for work now; however, I'll be back on. Hang in there!
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
|
|
|
| Posted: Thu Sep 13, 2007 4:57 pm |
|
|
Okay, I went to my bank and talked to the bank manager. She will close the account tomorrow. I warned her that there will be transactions trying to go through and she said she will keep an eye on the account and give me a call tomorrow to let me know when it is closed.
Do you think I should contact the Bank of Delaware people tomorrow letting them know I can not make a payment until later? Do you think they will work with me?
Thanks for your help and encouragement!
C
|
|
ckrishnek
Joined: 12 Sep 2007
Posts: 5
Debtcc Points: 204
|
|
|
| Posted: Thu Sep 13, 2007 5:22 pm |
|
|
Carrie, Yes absolutely call them. This can go on your credit report and you want them to know you are not runnning and hiding. Explain the situation and be sure to keep a record of the date and time you called, who you spoke to and notes about the conversation. Also be sure to tell them to note your account. I am not sure how they handle things but if you call them ahead of time to tell them what is going on you may stand a better chance. Good luck with them. Also, keep close tabs on your "closed" account. You do not want any suprises. Congrats on the firs step.. Roxy
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
|
|
RoxyNY
Moderator
Joined: 03 Aug 2007
Posts: 4093
Debtcc Points: 11406
|
|
|
| Posted: Thu Sep 13, 2007 6:10 pm |
|
|
Ok Carrie, I am new to this but I am going to give it a whirl. You can find the licensing for your pdl's here http://www.paydayloaninfo.org/states.cfm
click on your state and the laws will come up and under all the laws in blue is licensing database. Check there. If you need more help let me know.-Roxy
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
|
|
RoxyNY
Moderator
Joined: 03 Aug 2007
Posts: 4093
Debtcc Points: 11406
|
|
|
| Posted: Thu Sep 13, 2007 6:28 pm |
|
|
roxy, you're so good! 
ck, unfortunately, these are licensed:
CashNetUSA
Check City
Check N Go
You'll have to work with them as long as they are following your state pdl law.
These guys are not licensed:
PayCheckToday (an MTE d/b/a) very illegal
PayDay Island (heard ugly stories about them)
Do not get into trouble with your installment loan. As Roxy posted, let them know what's up and see if you can set up another form of payments with them. CashNetUSA and Check City are probably following your state pdl law or they wouldn't have an active license.
PayCheckToday and PayDay Island are not licensed in your state. Tell them to bite you.
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
|
|
|
| Posted: Thu Sep 13, 2007 6:31 pm |
|
|
Also, as Roxy stated, watch that bank account. God love your branch manager for "keeping an eye on it", but her eye is going to see a bunch of pdl debits hit it. Check your account immediately every chance you get. If you notice a change or debits or fees, you get back to that branch manager and get her to reverse those off immediately and not put any bank fees on. You need to get something in writing from them stating you will not get charges incurred on your account and that debits will not be put through. Banks are sometimes kind of stupid.
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
|
|
|
| Posted: Thu Sep 13, 2007 8:20 pm |
|
|
Thank you so much! I will talk to the bank manager tomorrow and make sure she will take off any fees if any occur.
I've already contacted the First Bank of Delaware (check-n-go) and I'm waiting to hear back from them. I will now contact CheckCity and CashNetUSA and try to work something out with them as well.
What should I do if Paycheck Today and Payday Island start to harrass me? Is there a letter I can send them to make it stop? What should I tell them?
C
_________________
Register today to cash in debtcc points.
|
|
Guest
Debtcc Points: 100
|
|
|
| Posted: Thu Sep 13, 2007 8:26 pm |
|
|
ck, you're doing good already! First, get your bank account set. We do not inform the pdl's of anything until our money is safe. Get your bank account closed/blocked/whatever. Open a new bank account - should be at another bank to be safe. Once you have your bank straightened out to where the pdl's can no longer debit, come back and post and we can get you letters to send to your illegal pdl's. Get this done first though. Because once your money is safe, we can then take our time and get letters out and file complaints, okay?
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
|
|
|
| Posted: Thu Sep 13, 2007 8:47 pm |
|
|
I already have a new account opened with another bank. I also have my direct deposit for my paycheck going to the new account. The old checking account is now at $0. So there will be nothing in it when they try to debit the payments. Hopefully all goes well with this bank tomorrow. Keep your fingers crossed for me.
I'll post back and let you know how everything is going.
Take care all!
C
|
|
ckrishnek
Joined: 12 Sep 2007
Posts: 5
Debtcc Points: 204
|
|
|
| Posted: Thu Sep 13, 2007 8:49 pm |
|
|
You're on the ball, my friend! If you want an example letter, I can pm one to you. You know how to do pm?
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
|
|
|
