Now I have a question, I just recently told them I closed my checking account (it's joint w. my spouse) and gave them another open account I have( my very own). If I close the one I changed it too, will they just revert back to my original checking account to check if it's open???

They might attempt to debit it, but obviously if it's closed they won't get anything.

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I'm in CA and have used PDLs to try to get by (HAHAHA). Anyway, I consulted a BK lawyer, who said to close my checking account and refer the PDL companies to his phone number. I haven't filed a BK yet, but plan to. I feel like SH_ _, as I did take out these "loans" but we have many bills piling up (lay-off from work, etc.) and just cannot do this on our own. Will these companies be able to harrass me, call my employer, etc., and is it LEGAL to close my checking account with these outstanding checks out there??

By law the pdl companies shouldn't call you or contact you after you file BK, they are only allowed to contact you one time but after they are referred to your attorney the calls should stop, however, if these payday lenders aren't licensed to lend in your state (and many aren't) they'll ignore the law and harass you anyway, they think they are above the law.

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Thanks Shazzers. I understand that once I FILE they won't contact me, but what about UNTIL I file? I've retained a lawyer - can he stop the harrassment even though it may take a month for us to file?

That's a good question, my understanding was as soon as you retained an attorney and they began the process, you are to refer them to your attorney.

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thats a scare tactic they use it doesnt matter what computer you use , they want you to be terified when they talk to you.

Hello,
I was in payday loan hell and I'm attempting to get out of it. I live in NY and all of my loans were internet-based. I'm working with Town & Country Acceptance who have been great so far. Even though these PDLs have made a fortune on me in interest, I am still willing to pay the balance on each and have been sending weekly payments to Town & Country. Yet I keep getting harassed at my work phone number by collection agents. I have sent cease & desist letters to the PDLs (obtained sample copies on this site--thank you for posting) and to the collection agencies, but some still call me and leave me threatening messages at work. One says that because I closed my checking account while still owing, I've committed fraud and will be reported to the sheriff in my county. I'm usually good at recognizing scare tactics, but I don't know the NY laws on this. Any info would help. I assume that since the loans are illegal in NY, closing my account would not be an issue. Here is my info and a few questions. Thanks for your time and help:

-Names of each pdl company
Paychecktoday.com - borrowed $800, owe $700
instantcashusa.com - borrowed $400, owe $250
cashadvancenetwork.com - borrowed $300, owe $200
cashjar.com - borrowed $500, owe $350
MMG Marketing - borrowed $300, owe $300
Vince Enterprises - borrowed $300, owe $200
Titan Group - borrowed $300, owe $200

Again, all were internet based and I live in New York. Some made hundreds, if not thousands off of me for months before I closed my account. I am working with Town & Country and they have been very helpful. They have sent proposals to all of these companies and I've been making payments for two months to T&C. I am able and willing to make my payments to them in order to pay back these companies. I just want them to STOP calling me at work and leaving me threatening messages there. Are there any suggestions/ideas? Also, any comments regarding how I'm approaching this so far? Is there anything I should do differently? Thank you again for your help.

Well, I do hope the T&C is able to work something out with these lenders, but, in my experience, when you are dealing with illegal lenders (and ALL of yours are illegal in the state of N.Y.) the chances of them negotiating is slim, and even if they do agree on a certain amount there is no guarantee they won't turn these over to collections, or continue harassing you, or even try to impose wage assignments to your employer. Why? Because they are illegal and didn't follow the law to begin with. They are nothing more than criminals and should NOT be trusted under NO circumstances. Most Internet payday lenders are located overseas, while they may have an address or PO Box in the states, they originate overseas and are untouchable by our laws, but you are untouchable by their laws also. It's too bad that you paid a company to do what you could have done yourself for free. I am not trying to discourage you, I am simply stating the facts. All these companies are entitled to legally is the principal amount you borrowed, but T&C won't enforce that because they are being paid to settle these debts as low as they can get them, however, no matter how low they DO get them ANYthing above the principal amount is TOO HIGH. CLICK HERE to find out how to deal with illegal lenders.

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Shazzers,
Thank you for your reply and for being such an enormous help on these forums.

I agree, I should have worked with them directly--the last thing they deserve is a penny more than what they should get--but I had read some good things on here about T&C and so far they have been very helpful. The threats from the collection agencies have begun to finally slow down. One was that because I had their last debit reversed and closed my account, I committed fraud and they were going to be notifying the sheriff in my county. I don't know the law in NY, but since their loans are illegal, I'm guessing reversing their debit attempt and closing my checking account was just fine. My bank was more than happy to help when I explained the situation (which surprised me). I guess they have to try and say whatever they can when they have no options. What a scary scary bunch. I kick myself for getting into this mess, and trying to get out of it has not been easy, but these forums are an enormous help.

I tried to contact my Payday loan companie to extend my payment (pay interest only) and told me I was past the timeframe, but this was 3 days before it was due and I was told it was also rescheduled for my payment and that I would have to wait until it was returned by my bank, which would take 3 to 5 days on their end and I would then need to call back to speak with the collections dept. They then tried to process a charge to my account for almost 1900. which was returned by my bank. But automatically tried to process 2 charges at 950. each, to get the full 1900. My bank then processed one charge at 950, but returned the second at 950., therefore placing my account in the negative. When I tried to close my account, the bank stated the account could not be closed because they placed the acct. in negative. I was able to merely place a hold on my acct, but will be charged a DAILY negative balance fee from my bank until the account is brought to a positive balance. And the bank informed me that the payday loan can call all the local banks with my name and social to find out if I have opened a different acct, and if so, they can take it from that acct. So opening a seperate account will not keep them from getting your money and you can't close your present acct if they have place it in a negative status.
WHAT THE HECK DO I DO NOW. I was also informed by my bank that a debt consolidation company can not consolidate payday loans, period. I am in need of some very expert advise, can anyone help?

I am in payday loan hell. they debited 900 from my account today, after reading these blogs and talking to my state division of banking i now know that closing the account is my only option. i talked to my bank and will soon be closing my account looks like that is a go but i still have to prepare my job for the phone calls i guess hope i don't get fired! i am still freaking out I just felt so alone and stupid until i found this site and talked to my state division of banking he helped alot Thanks ALL

Some of the settlement companies I checked out seem kind of fishy. To even get the account started, I need to send them almost $700.00. It was a $100.00 fee for every loan I had. That's ridiculous!

I totally understand, you need to do whatever you are confortable with, if it works for you then that is all that matters in the end.

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I am being hit hard with payday loan fees. Please help

Please begin a new topic with the following information so we can help you,
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.

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