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Shazzers · #1 02-03-2009, 11:21 AM

If everyone will just give a link to this thread to the new members who come here for guidance it may be more helpful and less work for the experienced members who are researching information. I wrote this awhile back and am most happy to share it. THANKS!

You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.

What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter.

nohiogal · #2 02-05-2009, 02:17 AM

Thanks Shazzers I was looking for this

#3 02-05-2009, 02:51 PM

Hoe do you know if a payday loan illegal or not

mjhayes75 · #4 02-05-2009, 04:03 PM

I live in MA. How do I determine if they are illegal payday lender or not. I have only paid the fees each pay period on each loan (no principle) however the total fees i have paid are greater than the original loan already. These are the current PDL companies I am paying:

500fast cash
United Cash Loans
Mesa Financial
DJR Group
Arrowhead Investment
East Side Lenders

PS - This afternoon after reading some of this I sent an e-mail to Upfront Pay day only saying that I would file a complaint with MA. With in ten minutes zeroed my account!

Shazzers · #5 02-05-2009, 04:51 PM

CLICK HERE for the MA payday loan laws. ALL Internet lenders are illegal in the state of MA. Please get your account closed BEFORE you send out ANY letters. Go to your bank and fill out a formal dispute on these illegal debits, tell them you want your funds back asap! Also explain to your bank manager all of these lenders are illegal, print out a copy of the payday loan laws and take it to your bank manager. You would be better off closing that account, now that these lenders have your account number they will debit your account to death! :shock:

mjhayes75 · #6 02-05-2009, 05:07 PM

when you click the actual link to the MA site it states that they can not help you when you do business with unlicensed lenders! Also, my checking account is with ING there is no bank manager to speak with!

Shazzers · #7 02-05-2009, 06:51 PM

File complaints with the FTC, BBB and your Attorney General's office anyway, these lenders should NOT be offering loans to MA residents when it is prohibited.

Jason · #8 02-06-2009, 02:50 AM

Excellent work done Shazz. You're the best.

mzbeonita1 · #9 02-09-2009, 06:22 AM

Legal / illegal payday lender not sure:
I live in CT and I'm not sure if all of my payday loans are illegal/unlicensed loans. I saw a post that stated I can e-mail the ACH revocation letter but I do not have contact information for each of my lenders? If anyone can help with this information I would appreciate it. I am hoping to close my account and send these letters before I get paid Friday. Hopefully I can finally see some of my pay. I have not seen any money yet this year and my bills are beyond suffering. My loans are as follows:

I have the following loans currently:
7/10/09 500fastcash borrowed $300 paid back $975 (in full)
10/10/08 Centurion/loanpoint USA (I think) borrowed $500 thus far have paid back $1200 (and they continue to debit $150 each paycheck)
10/17/08 CityviewCash borrowed $300 thus far have paid back $635
10/30/08 Webpayday borrowed $500 thus far paid back $1080
11/3 CMG borrowed $300 thus far have paid back $660
11/5/08 PaydayLoanYes borrowed $350, on 11/21 payday they debited $175, $175, and $30 total $380 (have no clue what that was about but was quite hostile when I called and of course there is nothing they can do)
11/25/08 First West coast/Atlas money online (I think) borrowed $350 thus far have paid back $420
11/25/08 MTE Financial borrowed $300 thus far paid back $450
11/26/08 Ameriloan borrowed $300 thus far have paid back $390
12/3/08 Avantis Financial borrowed $300 thus far have paid back $442.80 (the way they figure out the finance charge is quite odd and come out with change ?!?)
12/13/08 Sagemore borrowed $300 thus far have paid back $300 and counting(what do ya know!)
12/15/08 500Fastcash (yes another one. the first one was overly paid in full) borrowed $350 thus far have paid back $315

Thank you everyone. I can finally begin to see there is a light at the end of the tunnel......

Holding on

paulmergel · #10 02-09-2009, 06:26 AM

go to the links that shazzers has outlined.as with MA pdl's are
prohibited in CT.follow the links she has set up and you will have the tools you need to get these people out of your life once and for all.

#11 02-14-2009, 09:49 PM

Hi, I am really wondering how FL law deals with multiple online payday loans. I have several online payday loans - but the state of FL says you are only allowed to have one. Does that mean that these lenders are illegal?

#12 02-14-2009, 09:49 PM

Hi, I am really wondering how FL law deals with multiple online payday loans. I have several online payday loans - but the state of FL says you are only allowed to have one. Does that mean that these lenders are illegal?

nohiogal · #13 02-15-2009, 03:54 AM

brini, I answered you in your other post.

Again I suggest you make a new thread.

We need to know the name of the companies, whether they are store front or internet and how much you borrowed and how much you paid back including any fees.

jvue · #14 02-18-2009, 01:44 PM

Thank You...Will do!!!

#15 03-12-2009, 01:16 PM

THANK YOU!!!!! Ive had these guys debit my acct till it was forced closed by my bank. I have now filed the letters with them, and they have zero'ed my accts and are also issuing me refunds for all amounts paid. As I am a MA resident they were quick to have me happily zeroed!

Trust me, there are always silver linings!

#16 03-18-2009, 08:48 AM

I live in CA. how do i know whether they are illegal payday lenders or not.
payday one, cash central, zip19, paydaymax, ezpayday,national payday, and integrity(iadvancecash.com) they are all internet based. i need whatever help i can get to get these paid off!