Hello everyone:

I finally broke this past payday and was forced to close down my bank account and deal with all the interent Payday Lenders directly. Actually only one has contacted me, Cash Transfer Centers, and they are very annoying, They called my boss two days after I defaulted. Here is my info: Any help on how I should deal with all of this is appreciated.

All internet Loans:
Company Original Paid
AC Big Limited : $200 $855
ameriloan : $200 $532 Marked PIF
Ameriloan : $250 $775 Marked PIF
Ameriloan : $300 $0.00
CashNet USA : $600 $1,275 Marked PIF
CashNet USA : $500 $125
National Payday: $300 $425 Marked PIF
CTC(Northway) : $2000 $2,540 multiple loans all PIF
CTC(Northway) : $800 $0.00
One Click Cash : $200 $590 Marked PIF
One Click Cash : $250 $225
Paycheck today : $300 $180
Payday One : $500 $285
US FastCash : $300 $975 Marked PIF

I reside in Pennsylvania. As you can see I was quite a profitable customer for most of the companies until recenlty. I just could no longer keep up the payments and a vicous cycle was started. I am currently being evicted and have to move in with a friend. I do have a good job, but hit a rough spot a year ago and thought that a payday loan would get me through it. Boy was I ever wrong! I have read all the threads on CTC. I do have the advantage of working for a fortune 500 company that would never just garnish my wages, plus in PA the gov't and landlords are the only people legally allowed to do so. I would like to pay off the fair amounts that I owe. AC Big Limited just kept taking $35/ 2 weeks and I did not really notice that it was going on for so long. My bank account is closed down, but CTC is the only one that contacted me so far. Is it possible for me to use the past overpayments that I made to some of these companies to be considered payment for my current debt. Any help is greatly appreciated! Sorry for such a long winded post.

Hello and welcome! Your post was not "long winded"! It actually provided all the needed information! You reside in PA. PA law prohibits pdls unless the pdl is licensed SOMEWHERE. If the pdl is not licensed SOMEWHERE, then they are considered illegal. You've paid a boat load of money out, my friend. You've closed your bank account, which is good. I just want to ask if you were assured that your account will not be "forced open" due to pending pdl debits. This has happened many times. That's an ugly situation. Now, let's take a look at your pdls and I'll see which ones I can tell you are not licensed/legal. I'm sure others will be along to help, but for now, let me take a quick look.

Okay, off the top of my head, just by looking, I can tell you that ameriloan, Cash Transfer Centers, One Click Cash, USFastCash, and Paycheck Today are unlicensed/illegal. Now, when you say "AC Big Limited", do you mean BIG LTD? If that is the case, then they too are unlicensed/illegal. CashNetUSA I do believe is licensed, so you would have to abide by the state law that pdl is located in. National Payday - I'm not sure about. Is that the name they use? Or do they have a d/b/a? I'm also unsure of Payday One.

I know you're aware of the wage assignment Cash Transfer Centers is notorious for. As long as you understand that, fine. You've overpaid a number of your loans with unlicensed/illegal companies. Your question is "is there a possibility of using the overpayments to be used on the current debt". I don't like to be the bearer of bad news, but I highly doubt it. These are illegal companies. They're not going to suddenly become "nice" and let you use your overpayments towards current loans. These are the "bad guys" who took you for more money than they should have. Actually the "bad guys" who shouldn't even be lending to you in the first place. So trying to get them to apply overpayments on a current loan is highly unlikely. Now, you can file complaints and send letters demanding a refund. That's always worth a shot. Just remember, any pdl that is not licensed SOMEWHERE is not legal for you. If they are licensed SOMEWHERE, you have to abide by the state pdl law where the pdl is. And also remember the wage assignment Cash Transfer Centers so loves to do. If you have any questions, just post.

By Illegal do you mean that it is not a valid debt? Should I let those companies know that they are not licensed and than I will not be making any payments to them? Thanks for all the info as well. I did mean Big LTD. My account has been closed and all debits will be rejected by the bank so I am good on that front. I could really care less if nay of these companies do anything to my credit report as it is already in disarray at the moment and have already accepted the fact that I will be waiting a good 7-10 years before it gets better again.

What would you suggest as the best course of action I should take with each company that I do owe money legitimately? Thanks for all the help. After this ordeal I plan on joining the crusade against all these companies. I have plenty of spare time to write letters and emails until my hands hurt to all regulatory agencies and legislatures.

National Payday was actually the most reasonable loan I have ever had. The first two weeks was interest free and then I paid it down a lot right after that. I actually received a call from Payday One tonight and the person actually left a very pleasant message, much unlike CTC. I am crossing my fingers that they will be easier to deal with.

If the pdl is unlicensed/illegal, then actually you LEGALLY do not have to pay them anything. The majority of people pay the principle amount only since they did receive the funds and did use the funds. It's entirely up to you as to how you want to handle it. And you're saying that it is indeed Big Ltd. - unlicensed/illegal. The ones you want to deal with are the ones that are licensed. With these, PA does allow them. The only bad part is that you have to go by the state law in which the pdl is. It's usually a state with very lax pdl laws. Yuck. As far as your bank, it sounds as though you've gotten that part covered. This is a good thing! Now, when dealing with these unlicensed/illegal ones that you've overpaid, I would certainly send them letters stating this fact. We have a good letter you can send to your pdls to use as a "guideline" (just tailor it to fit your specific pdl and your specific situation). You can send them letters and demand a refund. On the ones you haven't paid the principle amount yet, if you chose to pay the principle, you can send them a letter stating you are only paying the principle amount of the loan. The ones that are licensed/legal, you're going to have to deal with them. PA pdl law won't apply to them. You also will need to file complaints with the agencies regarding these companies. By agencies, I mean the BBB, the FTC, and your state AG. Also, when handling these, the best way to do it is not via telephone. You will want everything in writing. You will want documentation of everything. You can email/fax/mail certified the letters to each company. I can't promise you that they'll abide by your requests, but you will have documentation to back you up for everything. Do you currently have a job? If so, you will need to do a letter revoking any wage assignment to Cash Transfer Centers. They are notorious for sending wage assignments to employers. You need to cover your butt with these guys. Post any questions!

I do have a job. I will go ahead and send those letters out. I did speak with a friend in Payroll and she told me that they do not touch any ones wages unless it is the gov't requesting it. PA does have very strict laws regarding that. My employer would be more scared that I would sue them if they gave my wages away to someone illegally. I work for the corporate accounting group of a 10 Billion/year company.

Could you send me any templates of the letters that you have? I iwsh that I could get CTC to quit calling my boss once a day, but he knows of the situation and is sympathetic to it. Once I get the letters out to the companies then I will be sending lots more to those agencies. Thanks!

Also, I do not want to renig on money that I spent of theirs. But for the companies that I have already paid much more back on previous loans already I do not see myselef sendind even the prinicple back to them. A good example is ameriloan, even if you addin the $300 that I have not paid anything on, they are still up almost $600 paid above the principles. That definitely does not abide by PA's usury laws. Thanks!

That's okay. Every one makes their own decisions. This one is yours. Nothing wrong with that. I have a letter that you can use as a "guideline" to send to your pdls. You would just need to tailor it to fit your specific pdl and specific situation. Do you know how to use the "pm"? It's private message. Under my post, you will see a little button with 2 people on it that says "pm". Click on that. You can send a message directly to me. Try that, send me a message. Once I get it, I'll reply. Once I know we are able to communicate, I can send you the letter, okay?

Okay, I got a "quick message" on my home page from you. That's not "pm". Click on the button underneath my post that says "pm". Then send me a message. We'll keep trying until we get it right!

Cash Net USA and Payday One are licensed. Cash Net USA is lending to PA consumers under it's Nevada license, and Payday One is lending under it's Deleware license, I believe.

Do you still have an outstanding loan with National Payday?

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How I make some extra cash

I earn at least $20 extra every month doing offers. And you don't have to pay a cent.

I have paid off the National PayDay Loan. So that would leave me with two legal ones to deal with, so I should probably take care of them first?

Yes I would take care of the legal ones first.

Got your pm and replied to it. Check your messages and reply to my pm. Then we'll know we're ready to go!

If you have any questions regarding the pm, just post or pm me. Either way is fine.

Yes, absolutly deal with the legal companies first. The illegal ones can wait.

Also, make sure you file complaints against the illegal ones with your state's DFI and AG's office.

__________________
How I make some extra cash

I earn at least $20 extra every month doing offers. And you don't have to pay a cent.