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#17
08-07-2007, 05:53 AM
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pdl craziness
I think what I will do, until T&C is fully up and running, is keep all of our money out as cash, let the checks and debits bounce, and go from there. Even the NSF charges on all of those are less than one interest payment! I don't want to get into legal trouble. I'll keep you posted...
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#18
08-07-2007, 06:59 AM
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One option for you may be an ach block - That way they internet companies are blocked out, but the checks from the storefronts can go through and bounce. The only problem with this is that internet pdl's will get sneaky and create a paper check on your account and send it through. So for this to work, you would have to time things very well. If all the checks would go on the same day that would work. Then you could go in right after the checks bounce and freeze the account completly.
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#19
08-07-2007, 07:00 AM
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Another issue - You said that the nsf charges would be less then one interest payment - Well, yes, but that's only if they only put the charges through once. The internet companies are going to try and try, and then break the payment up into little pieces and try again. Meaning you could get around 15 nsf fees each day for each company . . . . . That's why the blocks are so important.
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#20
08-07-2007, 07:36 AM
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re:
Holy ****! That is crazy! I will talk to my back and put a stop to all ACH debits. I'll also have to talk to other companies like my insurance, phone, etc. But I think it will definately be worth the extra effort to not have all of those nsfs. Can the internet companies really make paper checks? Maybe I should just block all activity after all.
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#22
08-07-2007, 07:48 AM
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yeah, most of them put a clause in the contract saying that if ach doesn't work that you authorize them to put through a paper check, and that this authorization cannot be revoked until the loan is paid in full. they can be very sneaky . . .
I would contact your dept of finanical institutions. They can tell you if putting a block on your account would get you into any sort of trouble with the storefronts.
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#23
08-07-2007, 08:28 PM
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Morningstarr430
Thanks for your reassurance. Did you receive a lot of harassing phone calls once your debt consolidation company took over? I am DREADING that![/i][/b]
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#25
08-14-2007, 07:57 PM
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Ways to get out of Pay day Problems in Colorado
New laws regarding payday lenders take effect on July 1st 2007. You now can get into a payment plan after the fourth consecutive transaction (payoff or roll over). But if you can't wait you need to stop the vicious cycle by defaulting. Know what your doing first. You have a better chance at this with CFSA lenders. place stop payments on checks and efts/ach transactions but be aware that some lenders can but through a different amount then you specified on your stop. Absolutely-get a different checking account at another bank all together and have your payroll deposited into this account. Document everything and make sure that automatic payments to the old account are switched to the new one because you do not want to give money away to the greedy bank. Contact the pay day lenders face to face and explain your situation so they see your not a coward and that your trying to solve this problem responsiblily. What ever agreement you get KEEP it. and then you'll be OUT.
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#26
11-30-2007, 07:29 PM
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payday loans
is there a phone number for 500fastcash payday loan. I've got my self in a mess with payday loans. It is nice to know I'm not the only one. I live in Indiana and have considered closing my account because I can't find phone numbers for thes people. Please give me some advice.
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#30
02-26-2008, 12:45 PM
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Sucks huh!
Hurry up and pay it while you can.I currently have a outstanding loan with 500 fastcash,it's now referred to their collections dept.When I did the loan no one told me all the options to pay it back.So now every 2 weeks they go into my acct to take my $90 pymt but not enough on that day and now they take all that is owed current and back and finally for bal of $645 which overdrafted my acct again.My original loan was $390.I don't like to think I'm a proud person but I was probably better off being broke and just doing pymt arrangements with the bills I had.This was my first time getting a payday loan only needed it to cover part of my rent.Friends to me to close my acct because every payday they take my check and i can't pay anything else.Last time I'll do this because they also don't service my state (NC) they pulled all cash advance places here.As for credit I just got a new car 6 mths ago it was going down anyway.I have faith.
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#31
02-26-2008, 04:10 PM
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500FastCash isn't even licensed/legal to lend. They are illegal. Very illegal for you; however, they aren't licensed to lend anywhere. Your friends told you to close your account? Have you? That's the only way they will stop debiting you. You have WAY overpaid this illegal company and now you have bank fees on top of it. Please consider closing that account if you haven't already. And also file complaints against these guys with the BBB, the FTC, and your state AG.
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