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 Posted: Sat Nov 10, 2007 7:04 pm Subject: Need help/advice
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I am one of many people who seem to have been going through a rough time financially and thought pay day loans would help.
I don't even know how many i have now and it seems the fees are always changing.
I can't even cover my rent this month and I am in a complete panic.
I borrowed money from my mother to help cover rent this month and now I check my bank account online and find out "Landmark Express" has taken $90 from my account. I don't recall EVER signing up for a pdl from them and I can't find a way to contact them.
This is a bad time. My dad is dying from cancer and has maybe a month left. To be honest I am ready to jump out a window to end this all.
I'm terrified.
Help!
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fivepets
Joined: 10 Nov 2007
Posts: 4
Debtcc Points: 328
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Posted: Sat Nov 10, 2007 7:20 pm Subject:
Latest Blog Post : Decision |
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five...please calm down and take a deep breath! You can't help anyone else if you can't take care of yourself. This is hard work...I won't lie...but it can be done.
1. You must sit down asap and figure out how many and which payday loans you have.
2. Post the following information and we will do our best to help you through this...give you some ideas of what you can do.
Many of us have been in the same boat as you...with payday loans and personal issues at the same time. It is hard but you can make yourself strong to get through this.
Please tell us:
1. What state are you in??
2.Name of pdl?
3.Internet or store front?
4. How much was the original loan for?
5. How much has been paid back in fee's etc.?
YOu should be able to get most of this info from your bank statements. Also, many of these pdls also have other names or associations. It is not uncommon for a debit to come out under a name you are not familiar with.
I am very sorry you are in such a difficult time right now...we will do everything we can to help you through this...just post whatever questions you have after giving us the info.
_________________
If you think you can, you can...if you think you can't, your probably right...
http://lifewithyourcredit.yesdebtfree.org/
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Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2337
Debtcc Points: 39294
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Posted: Sat Nov 10, 2007 7:22 pm Subject:
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Hi fivepets. I am so sorry to hear about your dad. This has to be a very tough time for you. Let's just take this one step at a time and get through it. Could you tell us what state you are in? Also, I know it might be tough, but we really need for you to try to figure out who you have payday loans with and how much you borrowed. Also, let us know if they are internet or storefront. We can start with this information and hopefully get you on the right track.
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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Posted: Sat Nov 10, 2007 7:23 pm Subject:
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Hi morning.  You beat me to it.
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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Posted: Sat Nov 10, 2007 8:04 pm Subject:
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I live in New Hampshire and all the companies I dealt with were on the internet.
All right, I've gone through my bank statements and this is what i came up with.
1. US Fast Cash
original loan: $300
Paid to date: $550
2. Ameriloan
original loan: $300
Paid to date: $660
3. Flash Loan
original loan: $300
Paid to date $600
4. WebPayDay
Original Loan: $250
Paid to date: $550
5. MTE Financial
original loan: $300
Paid to date: $485
and the 2 charges that started this panic...
8668834987 IDINS AutoPay $31.98
Landmark Express Fees $90.00
thank you for any help you can offer.
~fivepets
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fivepets
Joined: 10 Nov 2007
Posts: 4
Debtcc Points: 328
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Posted: Sat Nov 10, 2007 8:05 pm Subject:
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oh... and i should say that the paid-to-date are my best estimates based on bank statements...they may not be 100% accurate
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fivepets
Joined: 10 Nov 2007
Posts: 4
Debtcc Points: 328
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Posted: Sat Nov 10, 2007 8:08 pm Subject: r
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I'm going to post your state pdl law for you to see.
| Quote: | New Hampshire State Information
Legal Status: Legal
Citation:
36 N.H. Rev. Stat. Ann. ยง 399-A:1 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-30 days
Maximum Finance Rate and Fees: Not Specified (After default: 6% per year)
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot refinance, renew, extend; borrowers can renew to obtain additional cash but prior loan must be paid in full from proceeds of new loan and marked as such)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees:
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: New Hampshire State Banking Department
Address: 64B Old Suncook Road Concord NH 03301
Phone: (603) 271-3561
Fax: (603) 271-0750
Regulatory Contact: Mary Jurta,, Director, Consumer Credit Division
http://www.nh.gov/banking/ |
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
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Posted: Sat Nov 10, 2007 8:09 pm Subject: r
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USFastCash, Ameriloan, and MTE Financial are not going to be licensed/legal anywhere. They are lending illegally.
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cannr
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Posts: 9375
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Posted: Sat Nov 10, 2007 8:10 pm Subject: r
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WebPayDay - file a complaint with the BBB and you will most likely get a paid in full and a refund for your overpayment.
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cannr
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Posts: 9375
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Posted: Sat Nov 10, 2007 8:11 pm Subject: r
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Have you done anything with your bank account yet?
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cannr
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Posted: Sat Nov 10, 2007 8:15 pm Subject:
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not yet...but now that money is being taken out and i have no idea who is taking it I need to do something.
i feel just sick about this all.
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fivepets
Joined: 10 Nov 2007
Posts: 4
Debtcc Points: 328
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Posted: Sat Nov 10, 2007 8:18 pm Subject: r
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You need to get that bank account closed. These guys are illegal companies. They've already taken out more than they should and they will continue to do so until they no longer have access to your bank account. If the account stays open/active, they will continue to hit it until you DIE. Please do not freak out. You are not the only one here in this situation. We all are/have been. Can you close out your account? I can post some information regarding closing your bank account for you. Hang on.
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cannr
Moderator
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Posts: 9375
Debtcc Points: 124818
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Posted: Sat Nov 10, 2007 8:20 pm Subject: r
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| Quote: | Before you close your bank account due to payday loans eating away at your paycheck, please read this.
Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.
If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.
It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.
Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches! |
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cannr
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Posted: Sat Nov 10, 2007 9:35 pm Subject:
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thank you all for your help. i need to get some sleep now, but I will be closing my account with cannr's points firmly in mind and i will learn to live within my means...
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Posted: Sun Nov 11, 2007 5:45 pm Subject: r
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If you need any help with this stuff or have any questions, just post. We can help you.
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cannr
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Posted: Thu Nov 15, 2007 9:45 pm Subject: Who are they
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8668834987 IDINS AutoPay $31.98
does any one know who this is ? they took this out of my accoount with out permission
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Mikeanderin
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