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Posted: Sat Aug 16, 2008 5:56 pm Subject: NC PDL Laws

I have three PDL's and at this point I think I'm ok. But I can see where this would get out of hand. Just so I'm armed, can someone share NC's law on PDL, I can't seem to find it on my own.

Thank you.

Posted: Sun Aug 17, 2008 6:36 am Subject:

I live in North Carolina and according to the Attorney General's they are illegal. Someone will be here soon to post the laws for you.

Posted: Sun Aug 17, 2008 7:32 am Subject:

Hiya and welcome to the community! Smile

I'm going to post your pdl laws for you, then I am going to post some information on how to proceed since Internet pdl's aren't legal in your state, however, it would be great if you would p ost the name of the pdl's you have loans with, then other members who have dealt with them can give you some insight on their business practices. Smile

Posted: Sun Aug 17, 2008 7:35 am Subject:

I hope the information below will help you. Smile

You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.

What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. Smile

Guest · Posted: Sat Aug 30, 2008 5:28 am Subject:

Sorry it took me so long to get back here, I can't figure out how to login. I feel like a big dummy. Ok, here's what we have.

US Fast Cash loan 250 paid 225
United Cash Loans loan 250 paid 150
Magnum Cash advance loan 520 paid 408.90

So I still owe principal on all of them, so I guess we'll keep going along.

Posted: Sat Aug 30, 2008 5:40 am Subject:

I live in NC and they are illegal. The only thing you are obligated to pay are the amount borrowed. I would contact the Attorney General office in Raleigh to file a compliant. The information is listed below:
Where to Complain, Get Information:
Regulator: North Carolina Attorney General (See also Commissioner of Banks)
Address: NC Attorney General's Office 9001 Mail Service Center Raleigh NC 27699-9001
Phone: (919) 716-6400

Posted: Sat Aug 30, 2008 5:44 am Subject:

You are in luck!! All three of those PDLs are ILLEGAL! Please close your bank account immediately or place a debit block on all of them. The only thing you owe them is the principal borrowed. You are close to paying off all of them so that is great! Razz

I first Urge you to close your bank account. Please read this thread below regarding that. Best of Luck!

http://www.debtconsolidationcare.com/paydayloan/close-account.html

Posted: Sat Aug 30, 2008 5:54 am Subject:

Hi, I had to sign up under a new username so I'm the same person that's been posting here.

Thanks! I'm worried about closing my account but I think this is the best way to handle this.

So I close my account and send the letter then what? They will make payment arrangements with me? Or will they just call and harass me? How will I know where to mail the payments so that I know that they are received? Should I mail them return notification?

Posted: Sat Aug 30, 2008 6:32 am Subject:

Oh trust me once you close that account they will be in contact with you. Send the letters stating your desired payment arrangment and revoking any/all wage assignments. Also make sure the letter states you are not authorizing any further debits from either company. So you have a lil work to do. It can be time consuming, but it is worth it.

Now once you have done all this they will be in contact with you. If they refuse stay STORNG Smile

Remember thay are all ILLEGAL!

Posted: Sun Sep 07, 2008 2:07 pm Subject:

I have my letters ready to mail and none of the PDL's have addresses listed on their website. How do I obtain those? Or do I just email the letters?

Thanks!

Posted: Sun Sep 07, 2008 3:18 pm Subject: reply

hello,since your first post was aug 17,and it is now sept 7.have these pdl's gotten another rollover.if so that is less you owe.

Posted: Sun Sep 07, 2008 3:34 pm Subject:

no, the amounts I posted on the 30th was the last rollover. They are due to come out again this Friday.

Posted: Wed Sep 10, 2008 8:54 am Subject:

The money is supposed to come out this Friday, I have my letters ready to go but no physical address for any of the companies. I do have the email from their site. When should I email the letters over?

How can I get the PDL's physical address?

Thanks!

Posted: Wed Sep 10, 2008 9:13 am Subject:

If you have the emails, send the letters out now. You might be able to find the physical addresses by doing search at the top of the page. I had just as much luck through the fax machine and my email. Good luck!

Posted: Wed Sep 10, 2008 9:50 am Subject:

Thank you!

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