| Author |
Message |
|
|
 Posted: Tue Nov 27, 2007 5:20 pm Subject: closeing accts
|
|
|
does anyone know if i close my acct is that considered internet fraud?
|
|
lizziek2
Joined: 27 Nov 2007
Posts: 33
Debtcc Points: 993
|
|
|
 |
|
Posted: Tue Nov 27, 2007 5:43 pm Subject: r
|
|
|
lizzie, what state do you reside in? We can check your state law. Also, are these all internet loans that you have? No storefront loans? We can help you here with a little more information. 
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9376
Debtcc Points: 124824
|
|
|
|
Posted: Tue Nov 27, 2007 6:52 pm Subject:
|
|
|
Lizzie, I see you posted your own thread. Good job..but we do need you to list what state you are in before anyone can tell you if there are legal issues with closing your bank account. Please do as Cannr asked and post your state.
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
|
|
RoxyNY
Moderator
Joined: 03 Aug 2007
Posts: 4089
Debtcc Points: 11636
|
|
|
|
Posted: Wed Nov 28, 2007 6:29 am Subject: closing accts
|
|
|
i live in PA i have about 2000.
|
|
lizziek2
Joined: 27 Nov 2007
Posts: 33
Debtcc Points: 993
|
|
|
|
Posted: Wed Nov 28, 2007 6:30 am Subject:
|
|
|
| Quote: | Pennsylvania State Information
Legal Status: Prohibited
Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, § 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. § 6201 et seq.
Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year
Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions
http://www.banking.state.pa.us/banking/site/default.asp
|
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Wed Nov 28, 2007 6:34 am Subject:
|
|
|
thank you so does that mean if i close my acct i won't be in leagal trouble
|
|
lizziek2
Joined: 27 Nov 2007
Posts: 33
Debtcc Points: 993
|
|
|
|
Posted: Wed Nov 28, 2007 7:04 am Subject: CASH CLL
|
|
|
Does anyone know anything about thme are they leagal in pa? Do they work with you at all?
|
|
lizziek2
Joined: 27 Nov 2007
Posts: 33
Debtcc Points: 993
|
|
|
|
Posted: Wed Nov 28, 2007 7:10 am Subject:
|
|
|
Pa is one of the states that has a loop hoole in the law. If a pdl is licensed anywhere they seem to be legal in PA. who are your lenders so we can see if they are licensed.
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Wed Nov 28, 2007 7:48 am Subject: r
|
|
|
lizzie, you need to list out for us the names of the pdls that you have. We will have to check to see if they are licensed SOMEWHERE. PA will "allow" a pdl if they are licensed SOMEWHERE. So, we need to get the names and we can see if they are licensed or not, okay? The licensed/legal ones, you will have to contact and make arrangements with. The unlicensed/illegal ones, we can deal with later. You need to get your bank account straightened out before you do anything. I'm going to post something by goudah for you to read regarding closing your bank account. But, we DO need for you to list the names of your pdls. We can help you here.
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9376
Debtcc Points: 124824
|
|
|
|
Posted: Wed Nov 28, 2007 7:50 am Subject: r
|
|
|
Read this carefully. Then post ANY questions. We're here to help.
| Quote: | Before you close your bank account due to payday loans eating away at your paycheck, please read this.
Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.
If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.
It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.
Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches! |
|
|
cannr
Moderator
Joined: 07 Jun 2007
Posts: 9376
Debtcc Points: 124824
|
|
|
|
Posted: Wed Nov 28, 2007 8:14 am Subject:
|
|
|
Thanks, i will compile the list and send it later today. I also just changed my phone #, i figured that would help while i trying to fix the mess i got myself into.
_________________
Register today to encash debtcc points.
|
|
Guest
Debtcc Points: 100
|
|
|
|
Posted: Wed Nov 28, 2007 8:49 am Subject:
|
|
|
Yes, great...once we have the list, we can help.
|
|
volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24893
|
|
|
|
