I need help, quick!

I turned to payday loans to get my car fixed, and catch up on credit card bills. Now due to all the loans, I am behind with all my creditors and barely have food to eat.

I am an Illinois resident with 6 payday loans and three installment loans.

All Credit Lenders (Installment) $500 principle w/biweekly payments of $99.92 scheduled to continue until 4/10/2010. Current.

Cashnet Usa (Installment) $400 principle w/biweekly payments of $60.16 until 12/9/2009. Current.

Little Loan Shoppe (Installment) $300 principle w/biweekly payments of $105 for 20 payments. Payment agreement.

Paychecktoday $300 issued paid $555 total as of 8/14/09
Ace Cash Services $300 paid $430 as of 8/14/09. Defaulted as of 8/28

Tremont Financial $500 w/$150 fee, paid $450 in deferred payments, in which a maximum of your 80% of your loan balance is deferred with 20% of the payment applied to the outstanding principal. Limit of 4 deferrals per original loan. I owe $532 as of 9/1/09 with 8/28 payment in default.

Hushawk $200 w/$60 renewal fee biweekly. Current.

Shamrock $150 w/$45 renewal fee biweekly. Current.

Ace Cash Services and Paycheck Today are playing hardball. But Little Loan Shoppe and All Credit Lenders have agreed to work with me.

The bank won't close my account because I am overdrawn, and charge me $8 a day I am overdrawn. Any suggestions to get out of this mess.

Little Loan Shoppe is an installment loan? Now that's a new one one me, they obviously changed their lender status, I wonder if they are registered with the Secretary Of State so they are legally able to lend as an installment lender. That might be something worth checking out if I were you. All of yours with the exception of the installment loans are unlicensed lenders. You need to go into your bank and speak directly with the branch manager, tell them you NEED a hard debit block on your account. Explain that you would simply revoke the unlicensed lenders right to debit your account per federal law (EFTA Regulation E) but due to the fact that these lenders are illegal it wouldn't do you any good to exercise your rights per the EFTA law. Explain that you need their help so that you are able to get things straightened out. Also file complaints with your AG and the FTC, tell the bank manager you are getting your Attorney General's office involved anf the FTC (Federal Trade Commision, that should help you with convincing the bank manager to place a hard debit block on your account so that you will have money for the bare neccesities. Then it will give you time to work on some type of repayment plan with the LEGAL lenders without the worry of them debiting your account. CLICK HERE to find out how to deal with illegal lenders.

Thanks. I went to the bank a few hours ago, I had to pay a fee to stop Ace Cash Services and Paycheck Today from further ACH transactions. The I told them I would keep a minimal direct deposit going to try to get my bank account out of the red.
I figured Little Loan Shoppe maybe illegal, they offer payday loans or installments, in the US or UK, promoting the installment is a better option, because a small percentage of the $105 goes toward the principle, but it does not appear that my balance is decreasing, the majority of the money goes to processing fees, their fee, and finance charges, giving about $15 toward the principle. At one point they said I owed $325 if I paid in full, when I was current. But now that I'm deliquent, they agreed to monthly payments of $125 with no further fees, but now it going to cost me over $600. I think the added more fees because they said my balance was $565 or close to that amount.

In followup, Tremont refuses to respond via email requesting a settlement, but just keeps leaving voice mails all over the place. I want any settlement in writing. So, I check my status online and they said I can pay the balance via moneygram. Based on information I read in the forums, I emailed Paycheck Today and Ace Cash Services, because of their unwilling stance to work with me, pointing out that they are in violation of Payday Loan Reform Act in both my state of Illinois and Oklahoma, where their mailing addresses are supposedly located. Demanding a cease and desist of contacting me unless through email or US mail, pointing out wages assignments and ACH transactions are now revoked per their blatant violations of both Oklahoma and Illinois state laws.

Can you provide information from Hushshawk & Shamrock so that I can try the same tactics?

By the way, here is the brief version of the letter sent to Ace Cash Services and Paycheck Today.

After doing research regarding payday loan laws in the State of Illinois, I have found that your internet payday loans are actually illegally violating the provisions of the law in both Illinois and Oklahoma in general.


Oklahoma laws permit a finance charge of $45.46 on a $300 dollar loan, and the maximum loan term is 45 days. My initial loan payment of $90 was made 7/3/09, as of 8/14/09, I have made payments totalling $430, well over the alloted finance charge, as well as exceeded the maximum loan term. Extensions are not permitted in either state.

Illinois Payday Loan Reform Act (815 ILCS 122/):
Article 2. Payday Loans
(Source: P.A. 94 13, eff. 12 6 05.)
(815 ILCS 122/2 5)
Sec. 2 5. Loan terms.
(a) Without affecting the right of a consumer to prepay at any time without cost or penalty, no payday loan may have a minimum term of less than 13 days.
(b) No payday loan may be made to a consumer if the loan would result in the consumer being indebted to one or more payday lenders for a period in excess of 45 consecutive days. Except as provided under Section 2 40, if a consumer has or has had loans outstanding for a period in excess of 45 consecutive days, no payday lender may offer or make a loan to the consumer for at least 7 calendar days after the date on which the outstanding balance of all payday loans made during the 45 consecutive day period is paid in full. For purposes of this subsection, the term "consecutive days" means a series of continuous calendar days in which the consumer has an outstanding balance on one or more payday loans; however, if a payday loan is made to a consumer within 6 days or less after the outstanding balance of all loans is paid in full, those days are counted as "consecutive days" for purposes of this subsection.
(c) No lender may make a payday loan to a consumer if the total principal amount of the loan, when combined with the principal amount of all of the consumer's other outstanding payday loans, exceeds $1,000 or 25% of the consumer's gross monthly income, whichever is less.
(d) No payday loan may be made to a consumer who has an outstanding balance on 2 payday loans.
(e) No lender may charge more than $15.50 per $100 loaned on any payday loan over the term of the loan. Except as provided in Section 2 25, this charge is considered fully earned as of the date on which the loan is made.
(f) A lender may not take or attempt to take an interest in any of the consumer's personal property to secure a payday loan.
(g) A consumer has the right to redeem a check or any other item described in the definition of payday loan under Section 1 10 issued in connection with a payday loan from the lender holding the check or other item at any time before the payday loan becomes payable by paying the full amount of the check or other item.
(Source: P.A. 94 13, eff. 12 6 05.)



(815 ILCS 122/2 7)
Sec. 2 7. Wage assignments. Any payday loan that is a transaction in which the lender accepts a wage assignment must meet the requirements of this Act, the requirements of the Illinois Wage Assignment Act, and the requirements of 16 C.F.R. 444.2(a)(3)(i)(2003, no subsequent amendments or editions are included). A violation of this Section constitutes a material violation of the Payday Loan Reform Act.
(Source: P.A. 94 13, eff. 12 6 05.)



(815 ILCS 122/2 10)
Sec. 2 10. Permitted fees.
(a) If there are insufficient funds to pay a check, Automatic Clearing House (ACH) debit, or any other item described in the definition of payday loan under Section 1 10 on the day of presentment and only after the lender has incurred an expense, a lender may charge a fee not to exceed $25. Only one such fee may be collected by the lender with respect to a particular check, ACH debit, or item even if it has been deposited and returned more than once. A lender shall present the check, ACH debit, or other item described in the definition of payday loan under Section 1 10 for payment not more than twice. A fee charged under this subsection (a) is a lender's exclusive charge for late payment.
(b) Except for the finance charges described in Section 2 5 and as specifically allowed by this Section, a lender may not impose on a consumer any additional finance charges, interest, fees, or charges of any sort for any purpose.
(Source: P.A. 94 13, eff. 12 6 05.)



I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.

My research shows that your company is not licensed to do business in Illinois, and should NOT issue loans to Illinois residents at all. I am requesting that you send me your license number which enables you to offer loans to Illinois residents.

I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,


CC: National City Bank
Better Business Bureau
Illinois Attorney General Office
Federal Trade Commission

This is all the information I have on Hushhawk, you might try search the BBB for more information on both of those pdl's. You can also type in the name "Hushhawk phone number" or "Shamrock address" into the search box located in the upper right hand corner of this forum, it may take a while but I am sure you will come across their address and phone number somewhere in this forum.
Huskhawk Group
P.O. Box 556
Charleston, SC 29401

FYI, asking the original creditor to cease and desist contact with you isn't backed by any laws, however, I sent them at the time I was dealing with them anyway, some of these pdl companies employ people who aren't very bright, so my thoughts were, what the heck, they may or may not abide by it, I had nothing to lose by trying. A cease and desist order however is a federal law which applies to the 3rd party collector. Again, FYI.

No luck with the address, but the emailed me their change of phone number.



Shamrock Marketing Group, LLC
(: 800-370-52937: 888-577-9399
cust.service@shamrock-llc.com

Thanks for posting this informatiom, I will add it to my files for future reference, hopefully it will help others who are seeking info about them.

I emailed Tremont Financial a revoke of wage assignment, as well as sent a copy to my payroll department. Mailing a certified letter today. When I checked my email, my spam folder had a untitled message from somebody asking I call 1-888-357-9106 x8020 to discuss my account. A google search lead me back to the forums, apparently it is Tremont's collections department, but the email address given is not the same. I'm not calling the number, since that was all the info given. So I guess I need to get ready for the drama.

Nah, I wouldn't call them at all and if they call you, hang up immediately, if you don't recognize the number, don't answer it.

Blue Jean
I noticed that you put stop payments on a few of your loans. It will not work sorry to say. They will simply use another name to get in and take your money.
You need to either close the account or put a hard debit block on it. It is the only way to be safe

I spoke with the bank, and they only agreed to stop ACH payment attempts from two of the loans. Everyone else apparently has stopped attempting to withdraw money for the moment, but I did initially agree to pay them, until I realized they had been overpaid based on my state laws.

Your financial institution can't do that, they MUST abide by your wishes to revoke ALL ACH transaction per the EFTA law, or they could be held liable. I have to agree with the guest, placing a stop on their ACH's will NOT stop them. It may not happen soon but I can guarantee you some time in the furture they WILL change their names and they WILL withdrawal funds from your account. They didn't follow the law to begin with by loaning to you, why would they start now, well, they WON'T. My advice is, close that account. Also, go back into your bank and remind them they MUST abide by the EFTA law, I will copy it here for you to print out.

Good News,

This is Tremont's response to my letters--

Directly responding to your concerns, Tremont Financial is confident that it has not violated any Illinois statute or loan limitations. All loan applications, credit checks and loan approvals are conducted within the state of South Dakota, where Tremont Financial is a registered limited liability company and maintains a Money Lending License through the South Dakota Department of Commerce & Regulation. As you read on the documents you signed, there are clear and conspicuous disclosures made on both the Tremont Financial website, and also within the Note and Disclosure Agreement stating that all transactions are conducted in the state of South Dakota, and that South Dakota law applies to all matters therein. You agreed to these provisions in order to receive a loan from us.

Tremont Financial does not operate a store or business in the state of Illinois, nor is any employee of Tremont physically present in the state of Illinois. All transactions are conducted under the laws of the state of South Dakota as so stated in our contracts. Our contracts are drafted in the state of South Dakota, accepted in the state of South Dakota and are executed in the state of South Dakota. Under the general principals of conflicts of law, our contract and business is deemed to be conducted in the state of South Dakota.

In an effort to settle this matter amicably, we will accept your offer to pay $152.50 to bring your account to closure.

Success!

Shamrock provided a payment in full letter this afternoon. I used Nevada payday loan laws to base my letter and Illinois laws. So apparently they are in Nevada. They requested in the letter that I notify any additional parties, that the complaint has been resolved.

I received a email from Paycheck Today offering a settlement to my account, if I responded in two days. I am not willing to settle, since I have already overpaid them $200. I have emailed them, faxed them, and mailed them letters, they are not willing to budge. Now they threaten to report the account to the credit bureau and a third party collection agency. Now what?