Internet's first get-out-of-debt community - 140,000 members

I have 5 payday internet loans. I live in Indiana..I am going to my bank and put a stop payment on each of them. I have done this before on other debits and it works well with my bank. They will try bank drafts and such but if you put the stop payment on them the bank is very good about sending them back. My loans are very small...three are just a hundred dollars. I have read that in Indiana the limit on interest charges 15% on the first 100 and no more than $20 dollars total on the next 300. However that can vary because I took out a storefront loan and they charged $37.50 on a loan of $250. and it was legal. I need help in finding out how to communicate with these people..before they bombard me calls from collection agencies.

Posted: Mon Aug 13, 2007 6:47 am Subject:

Be careful - Stop payments will usually only work for a very short time. Most pdl's will then do things to get around them.

Posted: Mon Aug 13, 2007 6:52 am Subject:

Laura...most internet pdls do not use collection agencies...and I am in Indiana too...and they made a mess of my bank account.some ipdls will just turn and use a different amount or name to debit..I did file complaints with AG office here and they are mediating on my behalf which has had some good results. If you would like any other help please list you pdls, let us know which are internet, etc...how much the loan was originaly for and how much you paid..not necessarily the fee's just what you paid.

Posted: Mon Aug 13, 2007 9:07 am Subject:

Laura, the others are right- be carefull!! They will adjust the payment by a couple of pennies or something just so it will go through, so watch them..Karen

Posted: Mon Aug 13, 2007 9:45 am Subject: stop payment

Stopping payment on just "one name" of a pdl isn't a real good idea. We have pdl's that use up to 20 different d/b/a's. If they're debiting under one name and it gets blocked, they'll just change to another name and dollar amount and debit again.

Posted: Mon Aug 13, 2007 9:48 am Subject:

Laura - your best bet here is to close your bank account and open another. Go to your bank, sit down with the branch manager or the person who handles accounts, swallow your pride and tell them exactly what is going on - that you are trying to regain control of your money from the PDL's so you can pay them off and get back on track financially. They will be able to see from your account history that these companies are trying to bleed you dry, and most banks are very good about working with you in this situation. The only catch is that if your account is overdrawn, some banks will not allow you to close it until you bring it to a zero balance...which will end up allowing the PDL's to hit you yet again.

I'd definitely go talk to the bank right away and see what can be done.

Posted: Mon Aug 13, 2007 10:21 am Subject:

Please read this thread:

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

About information you should know before you close your bank account.

Posted: Mon Aug 13, 2007 11:19 am Subject:

Get new account at a totally different bank. If you stay at the same bank but open a different account they could attack that account. Be on the safe side and go to another totally different bank. Do not ever give out your new bank account information and do not apply for anymore PDL's. I have a feeling that these PDL's all share the same banking info on their customers.

ladybug

Posted: Tue Aug 14, 2007 5:27 am Subject: payday loans

I did go to my bank and I can not close the account at this time. I have direct deposites made and if I close my account these checks will be returned and it will take me at least two weeks to get my money. Other factors play in to this and make it very hard to just close my account. The one thing I do need is someone or some company that will help me deal with these payday loan people. Is there anyone or any agency that can set up a program and take some of the pressure off of me?

Kathy 2000 · Posted: Tue Aug 14, 2007 6:20 am Subject:

Laura,
A while back i got an email from these people who offered to help me get my PDL under control for $100. The deal was that I would pay them once they got the first PDL off of my bank account. I sent them a list of my PDL and all of the info about them and they did it. Ha! I don't know what they did, but I never heard another word from any of the PDL's again. It's just some guy and his wife. There names are Gray and Anita Williams. I think they're lawyers or something. They knew a lot about the laws. He said they are not. The email is email address removed per forum rules - Goudah. You could try them. It worked for me. Kathy

Mike in Boston · Posted: Tue Aug 14, 2007 6:27 am Subject:

Too Funny! I got that email too. I think one of my PDLs sold my name to them(like a fool.)They worked wonders. All 3 of my PDLs sent me a "Confidentiality Agreement" to sign and that was it. Once I signed that, my debts to them were considered paid.

Posted: Tue Aug 14, 2007 7:14 am Subject:

I am a bit wary of any individuals that buy lists from pdl's and send out solicitation emails to help with pdl's. Plus, you do realize that you are giving out your social security number, address, bank account info, and all that stuff to strangers that solicited you on the net. Hmmm . . . . And they don't even seem to have a business name. Just a guy and his wife. Sounds like a good scam to me!

I also find it odd that these two people both just happen to post about how great they are and how well it worked within 7 seconds of each other. As far as I know these people have never been mentioned before. So why if these people totally cleared up these two guests pdl messes are they still looking at this board? I understand wanting to help, but they are guests that have not posted before. So it all seems a bit strange to me . . . .

Advertisement? Scam?

Posted: Tue Aug 14, 2007 7:32 am Subject:

Hmm....I wondered about this too...If this process is so good how come everyone isn't doing it? Besides I am not sending 100 dollars to anyone without evidence that they are legit! Thanks..

Posted: Tue Aug 14, 2007 8:15 am Subject:

Like Goudah said, be very wary of anyone soliciting you through e-mail. Once you send them money, or give them all your personal info- they can run with that. Anyone solicing you to help you is a red light. Most reputable companies don't buy lists and start trying to get customers. Like I always said, check whatever company out with the BBB, and others who know they are reputable..Karen

Posted: Tue Aug 14, 2007 8:25 am Subject:

Yeah, problem with this seems to be that it isn't even a company! There would be no way to even check them out!

Posted: Thu Aug 16, 2007 5:16 am Subject:

Is there anyone that can help with payday loans. It would be nice to have some backup when these people start harrassing me. I did try that Langhorne agency of lawyers. But since my loan amounts do not total over 1000 dollars they refused to help. Does anyone know of anyone else?

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