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 Posted: Sat Aug 02, 2008 12:05 pm Subject: online payday loans |
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I live in Fl and currently have 4 Online PDL's - what happens if I default on them? I closed my bank account today since I lost my purse and I have called them to let them know not to send in the debits.
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privatepath1
Joined: 02 Aug 2008
Posts: 5
Debtcc Points: 92
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| Posted: Sat Aug 02, 2008 12:17 pm Subject: |
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Welcome! I see that you have already posted your state and the fact that all of your PDLs are internet. If you could also post the following information, it would help the folks here to better advise you: name of each company, original amount borrowed from each, and amount paid so far on each.
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alias1958
Joined: 31 May 2008
Posts: 1249
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| Posted: Sat Aug 02, 2008 12:27 pm Subject: |
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Mycashnow - 340.00 - 50.00principle+253.24 fees
thinkcash - 750.00 -86.00
ameriloan - 200.00 -240.00 fees
zipcash - 300.00 - 360.00 fees
I know the state of Fl does not allow roll overs but all of these companies do that. I don't mind paying them, but it has gotten to the point that I could not even buy groceries.
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privatepath1
Joined: 02 Aug 2008
Posts: 5
Debtcc Points: 92
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| Posted: Sun Aug 03, 2008 8:39 am Subject: |
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Hi,
I moved this to the PDL forum because I think it's a better fit for it. And second, I also want to welcome you--but I have to tell you that these online PDL's are going to send in your debits anyway. I would research them to see which ones are legal in Florida and which ones aren't. And based from your post, it sounds like they are engaging in illegal practices for your state. If they are really illegal in your state, all you owe them is what you actually borrowed, period.
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kscornell
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| Posted: Sun Aug 03, 2008 9:11 am Subject: |
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I was thinking that thinkcash is an installment type of loan, if you have closed your account then you need to get emails out to these companies asap and revoke ACH authorizations and offer to make payment arrangements with them for the balance. I would suggest money orders to their physical address, I wouldn't advise giving any of these your new bank account information anytime in the future. I will go ahead and post the FL pdl laws but I don't think they apply to thinkcash. I'm not positive about that though.
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Florida State Information
Legal Status: Legal
Citation:
Fl. Stat. Ann. ยง 560.401 et seq.; Rule 69V-560.901-912
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes
Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748
Regulatory Contact: , |
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Online complaints: Federal Trade Commission.
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Shazzers
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| Posted: Sun Aug 17, 2008 6:53 am Subject: thinkcash |
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according to an email i received from thinkcash, they say that if i don't get my account caught up, it will prevent me from recieving cash advances in the future. what happened to the deal that they are "installment loans"? at this, wouldn't i just owe what i borrowed?
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privatepath11
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| Posted: Sun Aug 17, 2008 7:24 am Subject: |
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Do you really want to get another cash advance anyway?  By defaulting with the other pdl's I am sure your name has already been placed into their system as 'defaulted', so it wouldn't matter if it were thinkcash or one of your other lenders (pdl's). Based on some of the posts made by other members here at the forum, Thinkcash is an installment loan backed by the First Bank of DE. You really need to make payment arrangements with them so you don't end up getting sued. I'm not all that familiar with Thinkcash but keep checking back, I'm sure someone who is will be along to assist you when possible.
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Online complaints: Federal Trade Commission.
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Shazzers
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| Posted: Sun Aug 17, 2008 7:36 am Subject: |
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No, in no way shape or form do I want another cash advance. I want out of that mess forever. I was just going by the email that thinkcash sent referring to "cash advances". I don't mind paying them, I just want to see if I can get a lower interest - 170.00 a month is out of my budget due to some medical bills. I only borrowed 750.00 from them and have to pay 170.00 month from now until june 2009. I have to keep payments to my doctors and hospital because of some health issues and I don't want to get turned away from medical help, know what I mean?
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privatepath1
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Shazzers
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| Posted: Sun Aug 17, 2008 7:48 am Subject: |
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I don't know, I have not talked to them, yet. I have just been trying to get all my ducks in a row. my other pdl's, zipcash, ameriloan and mycashnow are not licensed in the state of fl, so i think with all that i have paid in fees should wrap me up with them except, i do owe zipcash 30.00 and don't mind paying that. I have not talked to any of them. mycashnow has only called me one time, ameriloan one time and zipcash calls about every day but i do not take the call - just trying to find out the legalaties of all this mess. you all have been very helpful. i have just got to find out about thinkcash. i know that are funded by 1st bank of delaware - just got to check out my options. would love to hear from someone else that has dealt with them. I did get an email from my bank on my old account that i had insufficent funds - i think ameriloan tried to push through 320.00 and that is what they say that i owe. any help, or advice that anyone has, please help.
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privatepath1
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Shazzers
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| Posted: Sat Oct 18, 2008 9:02 am Subject: mycashnow/cpd |
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I just received a threatning email from these people - what should I do? I told them over the phone last week that I new they were operating illegalling in the State of FL as I had been in touch with the Attorney Generals Office. I explained to them that I found all of this out after I took out my last loan with them. I let them know that I knew they were not licenseded in the State of FL. 
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privatepath11
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| Posted: Sat Oct 18, 2008 9:09 am Subject: reply |
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save that e-mail and forward it the FL AG.if not print it and send it to the AG.they will threaten because that is what an illegal ipdl will do.they will get more ridiculous as time goes on,but know they can't do a thing except threaten.
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paulmergel
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That's a lot of money! Is there anyway you might be able to make a settlement offer with them? If I had the means, that's what I would do, all they can say is no, then again, you won't know for sure until you do. And yes, I know what you mean, I'm right there with you. 
