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 Posted: Wed Sep 24, 2008 8:12 am Subject: Help with online payday loans in california |
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Please help I am trying to stop all the drafts from coming out of my account. I have closed my chking account and the next draft will be the 30th I need to know what letters to send the pdl.
I have eight online paid day loans
little loan shop
dollar quick
eastside lenders
impact cash loan
usfast cash
united cash loan
loan shop
norstar cash
I also need to know where to look and see if they are legal or not. Thank you please help me I am so scared.
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karh001
Joined: 22 Sep 2008
Posts: 11
Debtcc Points: 180
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| Posted: Wed Sep 24, 2008 8:15 am Subject: |
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Here are the laws for your state..
Legal Status: Legal
Citation:
Cal. Fin. Code §§ 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact:
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danilewis82
Joined: 05 Aug 2008
Posts: 266
Debtcc Points: 1470
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| Posted: Wed Sep 24, 2008 8:16 am Subject: |
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How much were the loans for and how much have you paid towards them? Are they store front or internet?
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danilewis82
Joined: 05 Aug 2008
Posts: 266
Debtcc Points: 1470
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danilewis82
Joined: 05 Aug 2008
Posts: 266
Debtcc Points: 1470
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| Posted: Wed Sep 24, 2008 8:27 am Subject: |
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well I am still trying to figure out the amounts I will get back to you with that and they are all online. Thank you for responding so fast. Can you explain the law to me I do not understand it.
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karh001
Joined: 22 Sep 2008
Posts: 11
Debtcc Points: 180
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| Posted: Wed Sep 24, 2008 8:29 am Subject: |
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Also, have you asked your bank if they would open your closed acct if a ach is posted to your old acct??
Here is a simple letter on debt revocation
I ________, hereby prohib you or your affliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan application. Once I inform you of this, you must stop the telephone contact immediately or you will be breaking the laws of ________.
You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affliates to attach any parts of my wages or contact my employment for collection purposes.
I am revoking your right to debit my checking account any longer. Please be notified that I have informed my financial institution of this situation and they will receiving a copy of this correspondence. Any further attempt at debiting my account will be rejected by my bank.
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danilewis82
Joined: 05 Aug 2008
Posts: 266
Debtcc Points: 1470
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| Posted: Wed Sep 24, 2008 8:41 am Subject: |
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Yes I did talk to my bank and they said they will not reopen my account. Thank you for the letter. I have some of the amounts I borrowed and how much I have paid
little loan shop $500.00 borrowed and paid $750.00 so far
dollar quick borrowed $350. and have paid $685.00 so far
eastside linders borrowed $350.00 and have paid $630.00
united cash loan borrowed $400.00 and have paid $650.00
loan shop borrowed $300.00 and have paid $500.00
I am still trying to figure the other amounts for us fast cash, norstar and impact cash.
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karh001
Joined: 22 Sep 2008
Posts: 11
Debtcc Points: 180
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| Posted: Wed Sep 24, 2008 8:49 am Subject: |
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I don't think Loan Shop is legal in California
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Dane
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| Posted: Wed Sep 24, 2008 9:04 am Subject: |
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Dollar quick is called dollar flash and it said it is owned and operated by Advanced Business Services, LLC. and I am still trying to find out norstar cash info and impact cash and us fast cash I borrwed $350 and have paid $760.00 so far.
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karh001
Joined: 22 Sep 2008
Posts: 11
Debtcc Points: 180
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| Posted: Wed Sep 24, 2008 11:14 am Subject: |
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did you click on that link to see if any of them are licensed to lend in your state?
little loan shop
loan shop
united cash loans
you have overpaid them all, you need to send a cease and desist letter to them, as they are not licensed anywhere, and you have paid over what you were obligated to pay
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danilewis82
Joined: 05 Aug 2008
Posts: 266
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| Posted: Wed Sep 24, 2008 11:39 am Subject: |
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can I get a copy of letter cease an desist letter and should I send certified mail and faxed. Thank you I did go on the link and I could not find any of them on there. Does that mean that they are illegal?
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| Posted: Wed Sep 24, 2008 1:18 pm Subject: |
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can someone let me know where to get a sample letter for cease and desit letter. Thank you.
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karh001
Joined: 22 Sep 2008
Posts: 11
Debtcc Points: 180
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| Posted: Thu Sep 25, 2008 8:42 am Subject: |
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Hello, again I did the letters to all the online payday loans to stop the drfts my checking account is closed and the next draft will be on the 30th should I fax these letter now or tomorrow since it is 3 bussiness days that they need to be there. I also need a sample letter of the cease and desit letter.
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karh001
Joined: 22 Sep 2008
Posts: 11
Debtcc Points: 180
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| Posted: Wed Nov 26, 2008 10:23 pm Subject: Payday Loans |
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Does anyone know the address for Norstar Cash. They are company that offers payday loans?
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amaguil
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