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 Posted: Wed Oct 08, 2008 11:16 am Subject: IPDL help- Ameriloan/VIP Cash (CA resident) |
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geez, three tries to get this in the right forum.
Hello, I am currently in settlement on my internet loans, three of which are legal and licensed in California. However the other three I know are not legal in any form. I would like advice on how to handle this, as I was in a PDL consolidation program but they failed miserably.
I am in settlement with two of them (Papercheck Payday Loan, ameriloan) and have not contacted VIP Cash yet (that is for $500, already paid 3x in interest). They just tried to contact me yesterday.
As I am a California resident, I know the cease and desist order is out against Ameriloan and want to know what the status on VIP Cash and PaperCheck Payday Loan are in California. Thank you!
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kmagatelli
Joined: 08 Oct 2008
Posts: 2
Debtcc Points: 64
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Shazzers
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 5042
Debtcc Points: 31076
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 5042
Debtcc Points: 31076
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| Posted: Wed Oct 08, 2008 6:32 pm Subject: |
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Paper Check is not licensed in CA.
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Guest
Debtcc Points: 100
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| Posted: Wed Oct 08, 2008 11:08 pm Subject: |
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Thank you for the information, what steps should I take to resolve this matter, i.e. sending out validation of debt letters to their legal departments requesting the debt validation, their licenscure in both their state of operation as well as my state, California, licensure to conduct collections, etc? Will I need to close my checking account, I did this once with the assistance program and it was a miserable experience, is there any way for me to go about this without closing out while still going through the proper channels to ensure they verify things on their side? Is a validation of debt letter requesting proof of licenscure the way to go? Any input appreciated.
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kmagatelli
Joined: 08 Oct 2008
Posts: 2
Debtcc Points: 64
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| Posted: Thu Oct 09, 2008 4:40 am Subject: |
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I hope the information below will help you. 
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
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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. |
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
CLICK HERE to find a Creditor
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Shazzers
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