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I have 4 payday advances. One for 500cash fast $390 paid 180, One from united cash payments sames as the above. one from m1 something not sure who they are caught me off guard and desperate. and I have another one for $390 same as the other two. I live in Michigan. Please help! I cannot pay these loans. I already owe Cash call and I am behind paying them!

Posted: Thu Jun 05, 2008 6:28 pm Subject:

jharnden -

If you close your bank account and walk away, if ANY of your lenders are legal, they will pursue you. Even if they are illegal, they will hound you every single day, by any means possible, including contacting you at work.

I've typed and retyped this post, trying to find a good way to say this, but there's no easy way to do it. If you took out the loans, you should (from a moral standpoint) at least repay what you borrowed. There are others here who probably disagree with me, based on the fact that some of your loans may be with companies that are not licensed to lend into Michigan. However, the choice is yours. Just be warned that these companies will stop at nothing to get their money back - they will hound you at home, at work, on your cell phone, by e-mail....

I simply cannot recommend just closing your bank account and 'walking away'. I understand that you're in a difficult spot, but you're facing the exact same situation that brough most of us here for help. Ignoring these loans is not the solution. Yes, you will probably need to close your bank account and open another in order to regain control of your money. But your best bet for dealing with the PDL's is to at least pay back what you borrowed, and then write them a letter requesting to be marked paid in full - PROVIDED they are not licensed to lend into Michigan.

If you will provide us a full list of your loans, including the name of the company, the amount borrowed, amount you have repaid so far, and whether they are internet or storefront, we will be able to help you work out a plan to get these paid off and get your life back! Very Happy

helpmeplease · Posted: Fri Jun 06, 2008 4:39 am Subject: pdls

The names of the the pdl companies are
500cashfast Org loan amount $390 paid $180
UnitedCash loans Org amount $390 paid $180
MTE Financial Org amount $390 paid $90
M1Direct Org amount $250 paid $0

I do not want to close my account but I cannot make it with what's left in my account after they take these payments. I also many other creditors. Can a debt program help me? I just want this nightmare I created to stop!!!!! I live in Michigan.

Posted: Fri Jun 06, 2008 4:56 am Subject:

I will be able to do a little more research on your loans at lunch time today (time for work right now, sorry). If another member is able to help, please step in and help our friend out! Smile

Posted: Fri Jun 06, 2008 5:02 am Subject: reply

it looks like the MTE combo platter.500 fastcash,united cash loans,and of course MTE are all affiliated.therefore you only owe the principal borrowed.MTE is totally illegal,therefore the other two are as well.i don't know about the last one.
here is what you owe these three

1)united cash loans 180.00
2)500 fastcash 180.00
3MTE 300.00

they will all fight you on this,but that is all you owe each of them.don't let them tell you different.

Posted: Fri Jun 06, 2008 6:19 am Subject:

I agree with Paul, MTE is ILLEGAl. And they all will fight you. If you do not close your account then you will need to put a ACh revocation for all 3 of the PDLs at your branch. Unfortunally these might cost you a seperate fee depending on the bank. Be careful with this, because MTE will debit you to death! Best of luck!!

Posted: Fri Jun 06, 2008 6:27 am Subject:

In addition to doing an ACH revocation, IF, you are unable to close out your account asap, it costs nothing to go to the bank and place a hard debit block on it. Be aware, that this means you will not be able to witdrawal any funds from your own account, as well as anyone else. I agree with SUEBEEHONEY, if I were you, I would follow her advice. Smile

Posted: Fri Jun 06, 2008 6:59 am Subject:

I agree with Sue, IGNORING your loans will only make it worse. You need to make arrangments the best way you can. Also you have the law on your side for the 3 illegal ones. Cash Call is very LEGAL and backed by a bank. Not to scare, but they are backed by Bank of DE unfortunatley, they are not a PDL and will sometimes sue. I have also heard of them making payment arrangements and dropping interest rates for some of their clients. It just depends on the account I guess. I suggest you contact all PDLs via email, fax, or US Postal with some sort of intent to repay, but in meantime close bank account untill you can get your funds together. Do not worry we are here to help! Smile

Posted: Fri Jun 06, 2008 7:21 am Subject:

MTE revoked debits to my account when I complained and offered a settlement...they will say pay us the principal and we will waive the finance fees...so they will want $300 even though you only morally owe them $120...but at least they will stop debiting your account causing NSF charges and what not.

Posted: Tue Jun 10, 2008 7:54 am Subject:

jharnden wrote:

Posted: Tue Jun 10, 2008 7:56 am Subject:

I'm going to go ahead and post your pdl laws for reference. Then I will post links for you to file online compalints to you BBB, FTC and Attorney General.

Posted: Tue Jun 10, 2008 8:07 am Subject:

Click HERE to file a complaint with the Federal Trade Commission. Click HERE to file a complaint with your Attorney General. You will need to locate the BBB in your area to file a complaint with them. What type of help do you need with the letters? Smile

Posted: Tue Jun 10, 2008 11:40 am Subject:

Okay, we have a Cash Call thrown in here with these pdls, correct? Cash Call will need to be contacted to set up alternative payment arrangements once they can no longer debit your bank account. Contact them since they are a legit, legal loan. The others, I have to jump in on. As far as the amount owed, here is what I show (because I think by saying 390.00 - which included the finance fee, is throwing people off). I've dealt with the Satanic MTE, so I know the principle amount.

500FashCash - owe 120.00
United Cash Loans - owe 120.00
MTE - owe 210.00
M1Direct - owe 250.00

You can close your bank account, send letters to the pdls and only agree to pay the principle amount (which is what I posted above). You need to contact Cash Call and set up a payment arrangment. But you DO need to close/block your checking account. The MTE's will debit you FOREVER. Believe me.

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