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01-04-2008, 08:42 AM

I have 4 online PDL's, I am a residentof New York and came across this site trying to find info on one of the lenders.

All 4 have debited my acct today and I'm a little concerned.

MTE Financial Debited my account $90 today for a $300 loan i was given on 12/19

NLS CASHADV10 has debited my acct today and has done so every 2 wks since 10/30 for a loan of $250 so to date i have paid $304

866-742-0413 Payday2go debited my acct $75 today fro a loan of $300 on 12/18

Credit Protection Loan debited my acct $430 and $71.49 for a loan of $430 on 12/11.....Now this one I cant seem to find any information on not even a number for some strange reason which has caused me to become concerned.

If any one can please help me or give me some suggestions please let me know anything would be appreciated.

kashzan · 01-04-2008, 08:50 AM

i am also from NY, and pay day loans are not legal in this state. The first thing that you need to do is read the sticky regarding closing your account. If you can not find it I will post it for you. Uf you can you need to close your account asap, so no more money is taken from you.

JEN5276 · 01-04-2008, 08:53 AM

That's strange that you received a loan from payday2go, since last I checked, they were no longer lending to NY residents....In any event, Kash is right, payday loans are illegal here in NY. Closing your account is definitley the first step in this process.

kashzan · 01-04-2008, 08:56 AM

Jen, I also had payday2go, but that was about 8 months ago. When did they stop?

01-04-2008, 08:59 AM

Thanks so much guys I wish I would have read this website last week :lol: now they have raped my acct and im pissed. but the knowledge is better late than never. Do you think it would be hard for me to close this account?

kashzan · 01-04-2008, 09:05 AM

People close accounts all the time. Are you overdrawn, then yes it will be a problem. Open another account at a new bank. DO NOT tell the pdls that yiu are closing your account or else they will go in and take everything. After it is closed you will then send letters to the bbb (on their website) and the AG office. You will then send letters revoking any and all wage assignments you may have signed for them or their affiliates. Not a lomg letter, just what I stated above.
We do advocate paying back what you borrowed, but now you will be able to do it on your terms. DO NOT pay with a check, that will give them your new account info. Money order, prepaid debit card works.

kashzan · 01-04-2008, 09:08 AM

got your message. Here is the info:

Quote:

Before you close your bank account due to payday loans eating away at your paycheck, please read this.

Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.

If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.

It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.

Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches!

Last edited by goudah2424 on 17 Jul 2007 15:25

01-04-2008, 09:15 AM

I have called my payroll dept and had them stop my direct deposit, now should I close the account before I do the letter process or get the letters out and then close the acct?

01-04-2008, 09:16 AM

Also my acct is not over drawn its fine for the moment

goudah2424 · 01-04-2008, 09:16 AM

The full sticky is located here:

http://www.debtconsolidationcare.com...e-account.html

goudah2424 · 01-04-2008, 09:17 AM

Close the account first. Don't send letters until the accounts are closed and protected.

01-04-2008, 09:18 AM

Thank you so much, you guys are saving my life

goudah2424 · 01-04-2008, 09:24 AM

Most of us have been in your shoes . . . . We know what you are feeling.

01-04-2008, 09:27 AM

Another question is there any way for these 5 current transactions to be stopped they have not yet cleared my acct there on hold is there anyway i can stop this or should i just let it go?

goudah2424 · 01-04-2008, 09:31 AM

Not really - There are ways, but they are not being honest. Except for the one company you don't know anything about.

That one you can dispute the transaction with your bank. Since you never gave this company authorization to debit your account, the transaction can be disputed.

frogpatch · 01-04-2008, 09:40 AM

It can't hurt to try to stop them although it may be too late. Either way get that account closed before you get overdrawn. These PDLs monitor this site and have a way of putting 2 and 2 together and may come back and hit your account again.