I currently have 7 internet payday loans from the following companies:

The Loan Shop: 500, paid 160**
ZIP19.com: 400, paid 0
discountadvances: 210, paid 18.38
PAYDAYYES: 200, paid 445
Ameriloan:200, paid 525
USFastCash:250, paid 75**


**I have taken out more than one loan with the loan shop and usfastcash. The amounts I paid on previous loans, in the case of usfastcash, would completely cover my current loan. I would still owe the loan shop about $200.

I would like to know if each of these companies is illegal.

I have already closed my bank account and intend on sending each company a letter tomorrow with the C&D, Wage Assignment, and ACH Revocation.

From doing research on the this site I have learned that some companies are easier to deal with than others and would just like some insight from someone who has been through the PDL HELL and how long it takes for these matters to be resolved, I have no problem paying on principle but in the case of the loan shop and usfast cash i believe that what i have overpaid in the past should make up for what I owe today.

Any help/ words of wisdom/ further actions to take??? It would be greatly appreciated!

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Legal status of Payday loans in Illinois is: -

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Hiya kmkuebler, yup, you're right, you overpaid the two you mentioned, for sure. You're on the right track already, good for you!! Just hang in there, stand firm, and stay educated on your rights and you will do a fine job tackling these debts. My advice would be not to converse with these pdl's any other way but in writing. I know it's hard sometimes when they call and call, and threaten the life out of you, but I honestly feel that by NOT giving them anyone to argue with they will eventually GET IT. Don't stoop to their level by arguing with them via phone. Try to negotiate a solution in writing and don't over extend yourself when doing so. :wink:

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Thanks! Do you know if each of these loans is illegal?? I know from researching this site that the loan shop, usfastcash and ameriloan are, but what about discount advances and zip19?

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zip19 is as well.don't know about the last one though.i suspect it isn't,but i'm not sure.

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how hellish can i expect ameriloan and usfastcash to be?

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be prepared,they will call with all kinds of foolishness.they will claim that you wrote a bad check,they are legal because it is an internet loan,you must abide by there state laws,and they will call your work to do it.nothing they say will be true and despite your repeated demands will still call your work.just know they are illegal as all get.none of what they say will have a speck of truth to it,but they will be a pain in the backside.

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I am dealing with usfastcash, and they are being so quiet it's scary. I was contacted a couple times from them at work, and then nothing.... unless they are one of the million unknown calls I get that I don't answer adn there's no message. They're gunna try something slick here soon, I can feel it.

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yea i think i am just afraid that they will contact my employer. but i already told them i had to stop my direct deposit do to fraudulent activity on the account so if the calls start im just hoping they will be understanding (plus i gave them my personal work extension so that should help, right??)

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KM, I told my employer the same and used my work extension as well. It worked ok. I used to answer for myslef and tell them I was fired. They continued to bombard my cell but I added all the #'s to my phonebook and gave them a silent ring tone.

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In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.

Always remember, first and foremost in IL, they MUST be licensed by the state of IL to do business here, and they MUST follow IL law.

They will call you talking about how you agreed that the transaction took place in their state or country, and that you need to follow their local licensing, but this is NOT true.

Try to record the calls if you can, and file complaints with the IL Attorney General's office, the FTC, and the BBB.

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Thanks. I won't default on any of the loans until Friday so I'm just trying to beef myself up before then haha. Thanks for your help

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sorry, wasn't logged in, but it was me!

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I'm dealing with USfastCash as well and like you, lauramw71, I haven't heard from them. They called me a few times on my cell phone but that's it. I've also gotten a new number since then. I updated my contact information with them before I defaulted and I put my second cell phone as my work number so they wouldn't call my actual work number. I've emailed them but I haven't gotten anything back.

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ILLINOIS LICENSE SEARCH / CONSUMER CREDIT / GUIDE TO PAYDAY LOANS
http://www.idfpr.com/dfi/ccd/ccd_licensees.asp

ILLINOIS PAYDAY LOAN LAWS
http://www.paydayloaninfo.org/state_detail.cfm?id=IL

WISCONSIN PAYDAY LOAN LAWS
http://www.paydayloaninfo.org/state_detail.cfm?id=WI

WISCONSIN LICENSE SEARCH
http://www.wdfi.org/fi/lfs/licensee%5Flists/

Where would I send a cease & desist letter to get them to stop calling my employer?

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You would send it to the PDL company by fax, email, or USPS.

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