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UncleJay · Posted: Mon Aug 13, 2007 7:50 am Subject: EDESC PDL Company

anyone have any information on this company?

I need their contact info such as website, current phone numbers, email.

How do I find out if this company is Licensed in to do business in Maryland which is where i'm located?

Thanks in advance, this website is like GOLD!

Posted: Mon Aug 13, 2007 7:58 am Subject:

Here is this:

Posted: Mon Aug 13, 2007 8:07 am Subject: really?

so this means I don't have to pay them anymore? How does this work? I mean I want to honor my commitment but the company I mentioned turned off their phone and I have no way of telling them I want to pay them off and to stop charging me the loan fee, I think they are doing that on purpose.

thanks for your help on this too by the way. really helpful info.

Posted: Mon Aug 13, 2007 8:12 am Subject:

Posted: Mon Aug 13, 2007 8:25 am Subject: edesa

EDESA debits under this name for various pdl companies. Do you know the name of the actual pdl company that you have the pdl with? Some of them debit for Cash Borrower, a couple of other names, etc. They just use EDESA as the debit name. If you could post the name of the actual pdl, it would help us better.

Posted: Mon Aug 13, 2007 8:25 am Subject: wow

okay now how do I go about the process of no longer paying them?

sorry if I sound like an idiot but i'm clueless with this stuff

Posted: Mon Aug 13, 2007 8:31 am Subject:

You will need to close your bank account. Please read this thread:

http://www.debtconsolidationcare.com/paydayloan/close-account.html

It's got some important info you have to know before you close the account.

Then if you can't get the companies contact info, I'm sure they will be contacting you. You will need to send them a letter stating that per MD law this loan is illegal, and that you request they mark you paid in full. There is also some other stuff you need to include in the letter. Do a search here for wage assignments. You will need to revoke any. Also, you want to revoke any authorization you gave them to debit your account.

Posted: Mon Aug 13, 2007 8:42 am Subject: ok

Cannr

I think the name was Cash Borrower.

goudah

do I have to close my account? I was just going to do a stop payment until the company actually contacted me so I could work something out, but if the law states I don't even have to pay them anymore I would much rather do that, but closing my account would hurt me more ways than one.

Posted: Mon Aug 13, 2007 8:46 am Subject: Letters

I also plan on doing what you said about sending a letter to all my PDL's i'm using, but they keep changing their websites so I don't have any address on them, this is FRUSTRATING!

it's like they give out loans then disappear, yet we are still on the hook for the payments and i'm LOSING IT!

Posted: Mon Aug 13, 2007 8:47 am Subject:

Well, a stop payment won't work. The company will just use another one of their dba's and hit the account under another name. Or they will produce a paper check for your account and send that through.

Really, the only way to be 100% safe is to close the account.

How would it hurt you? You could have the other things you pay switched to a new account, couldn't you? Is it because of chexsystems?

Posted: Mon Aug 13, 2007 8:50 am Subject: boogy

boogy, if it is indeed Cash Borrower, I have contact information for them. And, yes, you will need to close your account or put a hard debit block on it. They will continue to debit your account forever. Even after you tell them not to. And, as you can see, they debit under a different name. They could try to debit under yet another name, so you can't block just one name. It's a pain, but it's basically the only way to get them to stop. They've been a pain in my neck from day one. They will argue you to death. But you need to prevent them from getting your money. That is the first step, because they will NOT stop. Let me find my Cash Borrower information.

Cash Borrower
Telephone: 1-866-735-6855
Fax: 1-866-735-6856
email: support(at)cashborrower.com
email: cashborrower(at)emailtran.com

By the way, these guys are HORRIBLE. They call and argue and harrass and their emails are horrible. Not to scare you, just to prepare you. You need to prevent them from getting any more of your money.

Posted: Mon Aug 13, 2007 9:43 am Subject:

Closing the bank account: I know I freaked when this was suggested to me. But after you read here awhile and realize all the illegal and nasty stuff some of these ipdls and collectors pull...I am very glad to have a new bank and a new account number...and I give it to no one ever!!! This is the only way to know for 98% sure the Ipdls or any other illegal collection activity will not have your numbers.

Posted: Mon Aug 13, 2007 9:53 am Subject: names

If you need help finding contact information on pdl's, let us know who you can't find. I'm sure someone here has contact information on them.

Posted: Mon Aug 13, 2007 9:55 am Subject:

I know closing your bank account sounds like a drastic step, but trust us, it's sometimes the ONLY way to completely stop the debits by a PDL. They are very shady and will do just about anything to gain access to your money.

We've been in your shoes, and we had to do the same thing to get out of the PDL cycle and get control of our money again.

Posted: Mon Aug 13, 2007 11:07 am Subject: thanks

sorry for taking so long to respond but I got piled on at work today, but I guess I will have to suck it up and close my account.

I was kind of leaning on going to one of those debt consolidation places instead, but it seems to me that if i'm paying people that can't hurt my credit and are ILLEGALLY doing business, then I shouldn't worry about paying them right?

but I feel like i'm in the wrong because I did agree to the terms of the paydayloan and I feel like i'm not doing good business if I just stop paying them all together, does that sound stupid of me?

Posted: Mon Aug 13, 2007 11:14 am Subject: boogy

boogy, that is the question of the board! That's asked many times! Everyone has different opinions. However, you can pay the principle amount of the loan if the pdl is unlicensed. That way you'll feel better about yourself and not guilty and not like a thief. Pay the amount they deposited into your account. Not the fees/extensions/rollovers/etc. - anything that's illegal. That way, you've paid them back what they loaned you and you're even. Then you won't have to "feel bad". Very Happy

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