I need help in Florida

pyb, from what I understand, if they are operating as a CSO, it means they are licensed. Unlike other pdl's who are not licensed/legal. If they are operating as a CSO, I would consider them legal/licensed. I'll pm frogpatch and goudah and have them respond. This whole CSO stuff has me all whacked out. Hang tight.

There is news developing out of Florida. According to a rep for the FLDFS that has been in touch with our member and Floridian Bublefan, they are looking at using the Florida Consumer Finnce Act s 516 as the law that applies to IPDLs. The internet lenders fall into a slightly different definition as they are either borrowing and relending or acting as brokers and charging fees rather than interest. The The FCFA requires licensing in the state, limits interest on all loans under 25000.00 to 18 percent anually and says that loan made from outside the state with interest over that amount are unenforceable in the state. This would virtually tie the hands of the IPDLs becuase it applies across the board to all lenders and includes rules for fees also.

Unfortunatly, this wouldn't affect the CSO model of payday lending.



So I would bet that with this happening in FL, more and more ipdl's will change over to the CSO model. Your state needs to be warned about this, as the CSO industry is very unregulated.

I would deal with Cash Net USA as if they were a storefront. They are a legally operating company, and could pursue collections against you.

I would try to set up some sort of payment arrangements with them. I've heard they can be very difficult to work with, but that if you send them a money order every month of what you can afford to pay, they will cash it.

I sent out all the ACH revocation and wage garnishment revocation letters. Have to take copies to my bank tomorrow. Hopefully then the manager will do something, even if it is reverse any bank charges that occur from this point forward. She told me Monday that she is not allowed to do anything with the account besides let the charges go through. She told me the only thing that was possible at this point is closing the account, but that would not necessarily stop any ACH charges. I can't do that because of the store PDL that I have. SO when I get my check on Friday which is no longer being direct deposited I am going to be looking at opening another account somewhere else and switching my storefront pdl to the new bank. She says that once my account which is in the negatives is closed as long as I make at least a $5.00 payment every month they won't report or go after me legally.

You're on the right track. Although it burns me up that your bank said they "can't do anything". That is sooo not true. Whatever. At least you're getting a live check Friday. Take it to a different bank, to hell with the unhelpful bank you are at. Open your new account. Be honest/legal with the store front (you already know this). And since you're account is in the negative, the pdl debits won't go through. However, is your stupid bank going to keep adding NSF fees for every debit they bounce? That's a concern of mine. The pdl's will keep trying to hit your account. And if your stupid bank won't do anything to block them, are they going to just keep adding fees to your already overdrawn account? Unbelievable.

I would take your letters revoking authorization down to the bank. Tell them that any charges from here on are fraudulant. If they don't stop them, you need to file a complaint against your bank. Depending on what kind of bank they are, national or local, you would file the complaint at the OCC, or your state's DFI.

I just got back from the bank. They refuse to do anything. Said I have to get any returned fees charged because of NSF from the company that is charging us. Yeah right like that is going to happen. Seeing that they won't return the fees, can I add the fees to what I have paid toward the PDLs or just report the bank? OOOHHHHH, I am so pissed!!!

When I put together my ACH revocation letters, I planned my budget for the next 3 months. So for the next three months I am going to be on a tight budget but it will catch me up on bills and get these pdls paid off (hopefully). So on these letters I gave them a date that I would have them paid by. I faxed them all because right now I do not have the money to send them certified mail. ameriloan just emailed me accepting my terms!! One agreement made, 7 more to go. Thank you for your help I don't know what I would have done or how long it would take me to get out of this if i had not found this site.

pyb, you're doing good! If you can, email them also. I understand not having the money to mail all these letters. When you have a lot, it costs a lot! LOL! But, if possible, try to email them. You already faxed them. I say you can't cover yourself too much!

You all will love this one. Just got an email from usfastcash. below is what they had to say:

Fax Number: 1-800-803-8796
Email Address: customerservice(at)USFastCash.com
We have received your application but have a few questions regarding your application.

Please call us at 1-800-640-1295.

Thank you for your interest in USFastCash.

Thank you,

USFastCash


Well needless to say I did not send an application. Do I call them or just ignore this email or what should be my next step with them?

Please, take it from a USFastCash expert. Ignore it. Do not delete it! Keep the email. Keep all emails. But, please do not respond to this one. They want to you to contact them. They want $5,000 on that loan. They're NUTS. You can do whatever you like. It's totally up to you. But, my experience with them? Lies, runaround, more lies, then ignore.

Cashnetusa just replied. They are still going to try and process payment tomorrow. They state if it is returned then they will start proceedings. There is nothing there to get. I have no extra to pay them. After my mortgage (2 months behind) is paid with my next check and I pay electricity and phone I am going to have $150 left to feed my family of 5 and get school supplies for 2 of my kids. It won't be so bad after this because I won't have a $1400 mortgage payment.

Well one is working with me, 2 aren't, the rest are up in the air still. It can only go up from here!

pyb, I'm am just so frustrated with your so called "bank". Refusing to help you. As goudah stated, I would file complaints against them. This is uncalled for. Also, just personally, when my bank tried to give me grief, I wrote a letter to their corporate office blah, blah'ing the whole story to them. They actually contacted me. I directed it to the president of the bank. They tried to give me grief over the phone, blah, blah. But I held my ground. Then I emailed my bank branch manager (a million times)and informed them that I had been in contact with the corporate office. Within two weeks, all the unauthorized pdl debits were reversed and all the banks fees were credited back. It got me back to zero. Then I put a hard debit block on it and it's sitting there now. No action. Just sitting there. Fight with that bank. If you feel up to it, send a letter to the corporate office. Email your branch manager and tell them you've contacted corporate. It may/may not help, but it sure will draw attention to your situation. If you have to, call the corporate office. They are insane! At least (on a positive note!) you will have a paycheck on Friday. You need to pay your bills, get your food, take care of your kids. That is your priority. And you can do it and hold your head high. The pdl's will hound you, but guess what? Having a place to live, having electricity, feeding your family, and having gas to go to work is a hell of a lot more important than giving these pdl's (who more than likely aren't even legal) that money. I'm sorry. I'm venting regarding your bank.

Don't worry you haven't said anything I haven't thought. I am planning on going to corporate but am waiting to see how many actually try to debit. I just got an email from payday select and they say they will honor my request and agree to my payment terms. It makes me feel better that I am not going to have to fight with every one of them. The ones that want to argue will be the last to be paid. The ones willing to work with me will get paid first. Thank you all for your support.

Honey, you've got my 100% support! And you're doing good! You've got some pdl's working with you. That's quite an accomplishment! Great job! Now, I'm about ready to start a petition against your bank! LOL!