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 Posted: Mon Nov 19, 2007 11:54 am
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I have several internet pdls that I'm trying to pay off. One is through someone called SSM Group LLC. I do not have any record of this company and I've never even heard of them. They (along with other pdls) have overdrawn my account $500. Does anyone have contact information for SSM Group?
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im_screwed
Guest
Debtcc Points: 100
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Posted: Mon Nov 19, 2007 11:57 am
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If you list for us
Who you have loans with
how much you have borrowed?
How much you have repaid . total repaid to each. Add fees and principle to get one total for each lender.
Are they store front or internet?
What state are you in?
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Nov 19, 2007 12:02 pm
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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It is going to take a lot of legwork to track them down. Do a search is the box above and you will find several thread about them. They are apparently linked to SJM marketing and will use the absolute worst tactics to collect. Demand that they send a mailed statement that has their address.
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frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3439
Debtcc Points: 30193
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Posted: Mon Nov 19, 2007 12:17 pm
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I'm in Arkansas. I don't have the exact amounts here at work with me.
I've contacted Paycheck Today, 500 Fast Cash and one other company, closed those accounts and worked out payment plans with them.
SJM is being a pain and won't work with me at all unless I can afford to pay the entire $325 balance. I've contacted SJM and they deny any connection with SSM. They claim to have no idea what company that is.
All of these are internet pdls. The first three were very helpful with setting up a payment plan and stopping all financing fees.
I'm a single mother with two jobs and I'm barely able to keep my lights on right now. The direct deposit from the second job goes to a savings account and that is what is keeping gas in my car and food on my table right now.
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dumplin72057
Joined: 19 Nov 2007
Posts: 29
Debtcc Points: 804
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Posted: Mon Nov 19, 2007 12:42 pm
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I forgot to mention I'm not even sure how I got a payday loan from this SSM Group. I never filled out any paperwork. The money just appeared and I could never find a company to have the loan returned. Now they are pulling money out of my account every two weeks.
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dumplin72057
Joined: 19 Nov 2007
Posts: 29
Debtcc Points: 804
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Posted: Mon Nov 19, 2007 12:55 pm
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here are the laws for your state:
| Quote: | Arkansas State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
Ark. Code. Ann. § 23-52-101 et seq.; Ark. Const. art. 19, § 13
Loan Terms:
Maximum Loan Amount: $400
Loan Term: 6-31 days
Maximum Finance Rate and Fees: 10% of check + $10; $5 ID card
Finance Charge for 14-day $100 loan: $22.22
APR for 14-day $100 loan: 579%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per location
Rollovers Permitted: None (cannot renew or consolidate)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: NSF fee; Court Costs; Reasonable Attorney's Fees
Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker)
Where to Complain, Get Information:
Regulator: Arkansas State Board of Collection Agencies
Address: Division of Check-Cashing Companies, 523 Louisiana Street, Suite 460 Little Rock AR 72201
Phone: (501) 371-1434
Fax: (501) 371-1440
Regulatory Contact: Peggy Matson,, Executive Director
Regulator Website
http://www.asbca.org/check_cashing/ |
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5466
Debtcc Points: 38903
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Posted: Mon Nov 19, 2007 12:59 pm
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So I cannot close my checking account? Do you have any suggestions on how to contact SSM? I cannot even pay this loan off if I have no idea how to contact them.
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dumplin72057
Joined: 19 Nov 2007
Posts: 29
Debtcc Points: 804
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Posted: Mon Nov 19, 2007 1:08 pm
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dumplin, I found this post by Goudah ( a moderator) about closing your bank account:
| Quote: | I've actually talked to the AR DFI about this. What they told me to do to acoid any sort of trouble is this:
When you go to close or freeze your bank account, print out and take with you some of the threads from this site about pdl's taking out money when they aren't supposed to. Explain to the bank that you are closing your account to avoid potential fraud.
They told me that odds of prosecution are very small, but to do that just to be on the safe side.
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You caould contact your DFI for clarification if you need to.
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RoxyNY
Moderator
Joined: 03 Aug 2007
Posts: 3903
Debtcc Points: 11752
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Posted: Mon Nov 19, 2007 1:12 pm
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dumplin, also, these pdl's have to be licened by Arkensas to be legal.......please correct me if I am wrong someone..and the first two you listed Paycheck today and 500Fast Cash are not going to be licensed anywhere.
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
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Joined: 03 Aug 2007
Posts: 3903
Debtcc Points: 11752
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Posted: Mon Nov 19, 2007 1:23 pm
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None of your pdls will be licensed if all you're dealing with are Paycheck Today, 500 Fast Cash, and SSM/SJM (which they are the same). They are all unlicensed/illegal. So, basically you have unlicensed/illegal companies debiting your account. You need to go to your bank and tell them you have fraudulent activity on your account. The information for ssm is the same as sjm/platinum b. Not licensed/legal.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
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Posted: Mon Nov 19, 2007 1:36 pm
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My head is spinning quite a bit....lack of sleep (two jobs and staying up worrying half the night) is not helping me much. Okay, I can legally go to my bank and have them close this account and tell them these charges are fradulent? (The last one is OneClickCash - sorry about that).
Am I not responsible for paying back the loan amounts? Like I stated before, I have made arrangements with Paycheck Today, 500 Fast Cash and OneClickCash for repayment. The original loan amount plus the finance fee; no more bi-weekly fees.
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dumplin72057
Joined: 19 Nov 2007
Posts: 29
Debtcc Points: 804
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Posted: Mon Nov 19, 2007 1:47 pm
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One Click Cash is also unlicensed/illegal. Just for your info. Have you revoked these pdls debit authorization of your bank account?
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9335
Debtcc Points: 123837
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Posted: Mon Nov 19, 2007 2:09 pm
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No, I haven't. Okay, here's the list from my banking info. The amounts deposited and payments made. I don't have full payoff amounts with me (They're at home.) but this will give you a general idea:
Payday Services - $500.00, paid $62.50 (should have payment arrangements)
Ambassador (assuming this is 500FastCash) - $350, paid $210.00 (should have payment arrangements)
OneclickCash - $300, paid $180 (should have payment arrangements)
Paycheck Today - $300.00, paid $90 (should have payment arrangements)
SJM Group - $250.00, no payments made (returned NSF/no contact info)
SSM - $250.00, paid $75.00 (will not work with me - payoff is $325.00)
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dumplin72057
Joined: 19 Nov 2007
Posts: 29
Debtcc Points: 804
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Posted: Mon Nov 19, 2007 2:15 pm
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How do I go about revoking them?
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dumplin72057
Joined: 19 Nov 2007
Posts: 29
Debtcc Points: 804
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Posted: Mon Nov 19, 2007 2:20 pm
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dumplin, you're not dealing with any "legal" companies here. And you've set up payments with some of them? Are they asking for more than the principle amount? You need to do something so that these pdls can not debit your bank account. They are all unlicensed/illegal to lend to you. And they will continue to debit your account until they feel as though they are "done", which is never. If you don't feel comfortable closing the account, can you do a hard debit block on it so that nothing goes through? Also when you set up payment arrangements with some of these guys, how are you paying them back? Via bank debits or money order or western union? How are they expecting payment to be made?
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cannr
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Posts: 9335
Debtcc Points: 123837
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