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raveyn06 · Posted: Thu Jul 10, 2008 8:02 am Subject: Horrible Situation in Texas

Before I lose my house, can someone offer advice on my payday loans?

ameriloan - Payoff amount $390. Original loan amount $350.
Paid on loan for rollover fees etc $525. Paid down principal $100.

PaydayOne - Payoff amount $1197.12 Original amount $1000 was the last, i kept renewing and increasing it when i couldn't afford the payment. $$ paid ? thousands. I currently pay around $400 a month to roll this one over.

Check and Go - Payoff amount $1029.50. This is another one I have increased my amount to avoid paying the payment serveral times. My amount financed at this time is $855.
Sad

Can anyone offer advice?

Posted: Thu Jul 10, 2008 8:09 am Subject:

Payday One and Check n Go are legal companies, and can take steps to collect on the debt.

But ameriloan is not legal. They cannot collect.

But - These are just unsecured consumer debts. Do not put these before a house payment. If your loans default, then it goes to collections and you can make payments. If your house defaults, you are out on the streets.

Posted: Thu Jul 10, 2008 8:37 am Subject:

I would make sure that your house, car, utilities and food are taken care of first.

Then, I would go into Payday One and Check n Go and ask for an EPP plan. It seems the amount of interest you are paying on Payday One might be enough to cover that bill. (Once you are in an EPP plan, interest stops, but I believe the bill is broken up into 4 payments.)

Once you do this, I would close that checking account and open a different one, this way ameriloan can't take out anymore $. Then you can deal with them on your terms. Since they are illegal and you have paid them more than you borrowed, I would go thru all the steps to get them to mark your account PIF and be done with them.

Posted: Thu Jul 10, 2008 8:38 am Subject:

I agree with goudah. You first have to take care of your everyday living expenses. . .house, car, food, utilities. In fact, I just saw a banker on the today show who is advising all of his clients to pay those first. . . .since when is a BANKER advising that you let interest producing debts go? As for ameriloan, I dealt with them myself. I had paid back the original amount of the loan by the time I came to this board. I sent all the suggested letters, C and D, AG, BBB, FTC, Banking Department but the response came from the BBB letter. They were agreeable and I got my PIF. I will tell you, if the processor route applies, they use Intercept EFT and Bremer Bank as their originator. Perhaps goudah or someone who can interpret Texas laws advise as to the appropriateness of the processor route.

raveyn06 · Posted: Thu Jul 10, 2008 12:58 pm Subject: Horrible Situation in Texas

Thank you so much for all the advice! I have now called Payday One and they're putting me on a payment plan which will avoid interest from this point on.

I'm still trying to figure out exactly what to send ameriloan.

I feel better already! {{{{{{thank you}}}}}}}}

Posted: Thu Jul 10, 2008 1:29 pm Subject:

ameriloan is illegal, that's your call, looks to me like they received more than their share. Have you secured your bank account yet? That would be my first move. Confused

Posted: Thu Jul 10, 2008 1:32 pm Subject:

rave, please listen to shazz. Have you done anything with your bank account yet? ameriloan will continue to debit until you're dead. You've already overpaid the illegal people. Don't let them get any more. As far as PayDayOne, I'm glad they set you up on payments. That's great! But are they debiting your account for the payments? Or have they set it up to where you can send payments? Also, is your Check'nGo internet or storefront? Both are legal - just wondering which way to handle them. Dealing with internet and storefront are different. Wink

Posted: Thu Jul 10, 2008 2:20 pm Subject:

LLw has it right - The processor route is probably the best way to go with ameriloan. Very Happy

Posted: Thu Jul 10, 2008 2:31 pm Subject:

Hang in there! I am in the same mess as you are and am slowly working it out. The people here are GREAT and will help every step of the way!

Posted: Thu Jul 10, 2008 2:43 pm Subject:

I agree with Shazz...you have way overpaid ameriloan. Close your bank account, that way they can't take anymore money from you.

Take care of Check n Go next.

You will start to feel better knowing that your basic needs are taken care of and you are meeting your obligations with these PDL storefronts. Ameriloan has gotten their money already. You don't owe them any thing more.

Guest · Posted: Thu Jul 10, 2008 2:52 pm Subject:

Please call Intercept EFT 1-800-378-3328 and ask to speak with Cindy. They can't move their money if they don't have someone to process it for them. Plus, the processer will not like the fact that they are being asked to debit on a revoked account. You have more than repaid what you borrowed. Like cannr said, they won't stop debiting until you make them stop. Keep us posted.

Posted: Thu Jul 10, 2008 2:54 pm Subject:

My bad, the above post was mine. . . llw

Posted: Thu Jul 10, 2008 2:57 pm Subject:

By doing what LLW suggests you are cutting them off before they can touch your account. They cannot just debit your account themselves, so once you cut them off at the processor they are done.

raveyn06 · Posted: Fri Jul 11, 2008 10:30 am Subject: Horrible situation in Texas

You guys are awesome! I have left a voice mail for Cindy @ Intercept.
I deal with a storefront CheckNGo. While they're really kind (of course they are, they're taking all my money!), I have got to get it situated out. I am going to try giving them a call to see if they can help me out like CheckNGo did.

I REALLY appreciate the heads up with CNG by the way!!! I would never have known to do that, I should have come here 6 months ago!!!!

Posted: Mon Jul 14, 2008 1:34 pm Subject:

You definately need to close the account, ameriloan will also try to put through a paper check. They tried, but because United Cash Loans had gotten there first, the check was denied

jeanne · Posted: Wed Aug 06, 2008 4:27 pm Subject: paydayone

i tried calling paydayone to make arrangements and they wouldn't budge, told them if they wouldn't take payments i was revoking the authorazation to debit the account, he said he would accept that and representative would be contacting us to make arrangements. Checked the website and it said my account with them is flagged due to invalid banking info. going to mail payments by mail

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