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 Posted: Thu Dec 04, 2008 2:58 am Subject: Can I ask for moret ime to pay off my payday loan |
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I have the folowing payday loans:
Payday Max $700 +226 (Fees) = 926
Cash Transfer Centers $350 +69 (fees) = 419
I was wondering if anyone had any advice on talking to these companies about extedning the time to pay these off. I'm in CA
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Struggling in CA
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Debtcc Points: 100
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| Posted: Thu Dec 04, 2008 6:57 am Subject: |
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hello, someone will be along with CA laws for you so you can decide your best game plan. Do not worry, there are options.
Are they storefront or internet?
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bea2ls
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Shazzers
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| Posted: Thu Dec 04, 2008 7:07 am Subject: |
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California requires Internet based pdl's to be licensed by state, neither of yours are.
| Quote: | California State Information
Legal Status: Legal
Citation:
Cal. Fin. Code §§ 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact: , |
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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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| Posted: Thu Dec 04, 2008 7:07 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.
| Quote: |
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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| Posted: Thu Dec 04, 2008 7:11 am Subject: reply |
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i would like to ask the OP how much if anything was debited from there account towards these loans.if there was,that goes toward the loan as they are illegal as shazzers has pointed out.cashtransfercenters will be a pain to deal with being based out of the country.
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paulmergel
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