Internet's first get-out-of-debt community - 129,000 members

Posted: Tue Sep 11, 2007 5:15 pm Subject: It gets crazier every payday

Hello. First of all let me say I really appreciate all the help you have given me and everyone else that has posted here looking for a way out of the PDL circus.

I reside in California and I have been juggling PDLs every payday for at least 2 1/2 years. I have not been able to bounce back financialing, and my credit has now suffered. I want to take back control of my money and especially my bank account.

After reading through this forum for the past few days, I have contacted my bank and researched my states laws. I finally signed up because honestly, I don't think I have all the answers. The online PDL's is what I would like to see about getting advice about.

My bank advised me to close my account, but still will hold me responsible if an ACH transaction came through from a PDL. So that is not an option. I would like to see if it is possible to stop and online PDF from automatically debiting my account. I have provide the information for each of my PDL, which I am not proud of.

Online PDLs:
cashnetusa.com: Balance: 286.00

ezpaydaycash.com: Balance 285.63 / Past Due:129.58 (return NSF) / Ext Fees paid : 2x 62.50 / Paid : 125.00 / Original loan : 275.00

nationalpayday.com: balance: 343.75 / ext fees paid: 5 x 68.00 / original loan: 275.00

militaryfinancial.com (worst PDL company) : Balance today: 1080.72 / balance after 31 days and 4 payments : 1659.00 / original loan: 975.00

Outstanding PDLs:
cashcentral.com: 100.00
advanceamerica: 100.00

I juggle these PDL every payday. Every attempt I have made to settle these in a payment plan is literally shot down and disregarded. At times I will notify them I cannot make the payment, and they still debit the account and then charge the return fee, which I also end up paying the bank as well.

These PDLs eat up every paycheck, I need to redo just to make it. My bank will not loan me anymore, and my credit score has dropped considerably due to falling behind on my other bills.

I really appreciate any help or advice you can provide me with. This website, this forum has truly shown me a way out.

thanks.

Posted: Tue Sep 11, 2007 6:12 pm Subject:

Antonio, I know you said you researched CA law but I am going to post it so everyone else can see it.

Posted: Tue Sep 11, 2007 7:09 pm Subject:

Antonio please do as Roxy has asked that will make it a little easier for us to put it together...and please please know...don't be ashamed...most of us here have traveled the same road...I myself had 10 internet pdls for about 2 years..this site helped me take control again and we can help you.

Posted: Tue Sep 11, 2007 8:46 pm Subject:

Well first of all with you states laws you are not allowed roll overs. So anything you have paid after the first fee should have gone off your balance. So you need to send letters with you states laws included.

Second, with advance america, thats a storefront right? They are letting you do roll overs?

You need to file complaints with you state. And try what morningstarr said with your bank. Because if you put a hard block on your account they won't charge you nsf fees.

Posted: Tue Sep 11, 2007 9:01 pm Subject: Thanks

Thanks for your advice on the bank issue. I will find out tomorrow about the hard block on all deposits.

Here is a better breakdown of my current PDLs.

Online PDLs:
Cashnetusa.com: Loan $255 / balance due 286 (15 Sept)
Ezpaydaycash.com: Loan $250 /Paid: $250 /Due:$285
Nationalpayday.com: Loan $250 / Paid: $340 /Due:$343
Militaryfinancial.com: Loan: $975 /Paid $0/ Due: 1695(over 4 pymnts of $415)
cashcentral.com: Loan: 250 /Paid $250 /Past Due: $100

Storefront PDLs:
Advance America; Loan 250 / Paid: $220 / Due: $100

Question:
I recieved a call earlier after I signed up from a gentleman from Oakview Log. He claimed that working through him I can set up to have an attorney assist me with consolidating and putting an end to my PDL disaster. Have any of you had an experience with this before?

Posted: Tue Sep 11, 2007 9:03 pm Subject:

Antonio- Welcome...I am also in CA and in your situation and was able to get a handle on it once I found the support and advice of this board. You do not have to let the pdl's run your life!

As roxy asked, can you get a debit block on your account? You have to ask for this specifically... Then can you close your account and open a new one OR do you have another account already someplace else?

Posted: Wed Sep 12, 2007 8:02 am Subject: Debit Block?

Putting a Debit Block on my checking account will block all the PDLs from debits my account. Will this cause me to paying more in the long run, since all the payments will be returned to the PDLs? According to Ca PDL laws, criminal prosecution is prohibited, but will can additional charges be added to my loans?

Posted: Wed Sep 12, 2007 8:07 am Subject:

They will say it will, but the fact of the matter is that unlicensed companies are illegal and cannot collect any fees.

The companies you are dealing with that are licensed and legal, Cash Net USA, Advance America, and Cash Central can add a $15 NSF fee, but that is all.

Posted: Wed Sep 12, 2007 8:09 am Subject:

You have to find the right person at your bank to sit down with. I have found different people within the same organization play with different rules. The branch manager is generally the best person to deal with. Not whoever is in charge when they are not there. I see Military Financial listed. Are you Military? Are they a storefront?

Posted: Wed Sep 12, 2007 8:24 am Subject: Military Financial

Yes, I am military. Militaryfinancail.com is an online PDL out of Delaware. They claim to be short term loan but over the 2 years I have dealt with them, they clearly are a PDL. They are the most expensive PDL I have had to deal with and the hardest to get rid of. 2/3 of my paychecks goes to them every payday, forcing me to redo. I have had to plan all my other financial needs around them.

Does anyone know any information on PDLs out of Delaware. I have tried to research the company further but I seem to always end up at a dead end.

Posted: Wed Sep 12, 2007 8:28 am Subject:

DE doesn't have any caps on interest, which is why it costs so much. BUT - This company needs to follow CA law, not DE law. They will say otherwise but the fact of the matter is that CA law has jurisdiction over the transaction. Period.

New laws have been passed protecting military members from these places.

You need to close your bank account. Please read this thread about some information you need to know before you close the account:

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

You have paid plenty on the illegal loans you have. I wouldn't give them another dime.

Work on making payment arrangements with the legal places.

Posted: Wed Sep 12, 2007 9:48 am Subject:

2nband just posted that Military Financial come up under Mangnum on the BBB web site.

Posted: Wed Sep 12, 2007 9:52 am Subject:

Hey antonio...looks like you've paid these jokers the principal...dont worry about them getting any more $$ from you. What you need to focus on right now is getting that bank account taken care of and getting your paycheck back that you've worked hard for.

Thank you for your service....

Posted: Wed Sep 12, 2007 10:06 am Subject: Letters to PDLs

Thank You all for your great advice and generosity to help others. I have an appointment with my Bank's Branch Manager today and will have a hard block on all debits placed on my account.

Is there a format I need to follow when I send the letter to PDL companies advising them I have placed the hard debit block on my account? Do I need to inclued that I will only pay the principal amount along with the legal fees according to my state, and only an in payment amounts I can afford?

Posted: Wed Sep 12, 2007 10:42 am Subject:

antonio- I sent a message to cannr to have her PM you her form letter...I used it and its a good one. check your messages box soon....

Recommend that you fax, email and send certified to each pdl. Bombard these jokers with your letter!

Posted: Wed Sep 12, 2007 10:47 am Subject:

Hi Antonio. Welcome to the forum! It seems like you are well on your way to getting things back under control. You are going to be amazed at how much better you are going to feel when you get your first "full" paycheck. I was so stoked. Smile