Arizona payday Loans

I need some advice on Arizona payday loans. I have 6 loans that were taken out via the internet. When I searched the companies licensed in Arizona only 1 out of the 6 were? Does that mean the other 5 are illegal loans? Does that mean that I only need to repay the principle owed on these loans? Do the fees paid in interest/fees count towards this principle? Is it difficult to get a hard close through Bank of America?

Click the link below to read your payday loan laws.
http://www.paydayloaninfo.org/state_detail.cfm?id=AZ
Arizona requires internet based pdl's to be licensed by your state.
If you would list the following information we will be better able to assist you.
Name of pdl's
How much you borrowed and paid back.
Based on what I have read from other members here at the forum BOA is not easy to deal with.

Eastside Lenders $400
Sandpoint Capital $300 paid back $270
Integrity $400 paid back $380
USA Cash $500
PayDay Max $500 paid back $480

All of yours other than USA Cash aren't licensed lenders. I need to research USA Cash before I can give you any information about them. Meanwhile, CLICK HERE to find out how to deal with illegal lenders.

All that you owe Sandpoint is $30.00, Integrity $20.00, and Payday Max $20.00.

USA Cash may very well be licensed in your state, you can check the licensee data base at the link below.
http://azdfi.gov/Lists/Lists.htm
Or call the Arizona Department of Financial Institutions at (800) 544-0708 and ask them.

Thank you for your help. I have already opened a new checking account with a credit union, but will be working with B of A to close my old account. From what I have read they are not easy to work with. Maybe the letters revoking ACH debits and the fact that there is another unauthorized charge on my account might change the bank manager's mind. I will be so glad to get out of this mess!!!!

Just got back from B of A where the manager was no help. They can't close the account because it is currently overdrawn. Next week when I get paid I can pay on the account and then they will close it. She explained there was nothing they could do between now and then. I am going to talk to another branch and see what they say.

Does anyone know the processors for Sandpoint Capital, Arrowhead, payday max and Eastside Lenders?

Click on the link below and read through it, a lot of members posted different processors for various companies.
http://www.debtconsolidationcare.com...ad.php?t=32939

I am having a hard time getting B of A to close my account or at least not let any more transactions occur so that I can get the negative balance cleaned up and close the account. Any suggestions?

Yes, print out the EFTA law and take it in and show it to the branch manager. BOA is notorious for this, I've read several posts from other members who have had the same problem. If you can't locate the EFTA law (regarding universal debits), let me know and I will post it for you.

Yesterday a senior analyst but a hold on the account. The charges are being investigated by the fraud department as I had already sent the PDL the letters revoking their authorization to do ACH debits. The person at the bank informed me that this hold will be on the account until I tell her to remove it.

Yay for you, sounds like you are making progress!

Shazzers: Based on Kristin's post re:what she borrowed versus what she has paid back....

I borrowed $300 from Sandpoint Capital, and have been dinged $90 every two weeks in finance charges. Do those finance charges apply towards the principle balance? So if they have taken out $270 in finance charges, I would only actually owe them $300?

You have been a tremendous help to me and I appreciate your feedback. Thank you!

Correction: I would owe them $30, not $300, right?