Payday Max

I have had a loan through payday max for over a year and a half. Needless to say I pay the total off and then continue to reborrow. My problem being - I borrowed 1100.00 and can not pay it all back (or the interest at this time) . I was honest and called payday max and told them that I needed to set up a payment plan with them and they referred me to credit protection . I called them and all they would do is push my extension back a week and charge me an additional 100.00 in finance. I told them that was not going to help me at all - the simply stated well we can not do anything at this time because it is in good standing. I then proceeded to tell them that I would only pay back the 1100.00 and not the 1508 they are requesting. I told them that since I only borrowed 1100 I was only going to make arrangements for the 1100.00 They stated that was "not how it worked" and that they would send the sheriff after me with a summons if i didnt pay?????? I am a registered nurse with obviously no common sense (when it comes to money) and am trying to do the right thing. I read where it says you should put a stop payment on your account for this company. I dont want to close my account - I have had it for over 20 years and everything is direct deposited etc. Please advise - I just dont know what my rights are. I reside in Illinois

Paydaymax operates from Canada. They are illegal in Illinois. You should close your bank account or else, at least, you should talk to your bank people to make the account a deposit-only account.

Send paydaymax a letter/fax asking them for refund and a PIF.

Thank you - should I send them the wage letter and C and D letter that I read about as well - Is there written knowledge stating they are not legal in Illinois? They just scare me to death. They really cant arrest me can they?

You cannot be arrested for not paying a payday loan. Yes, send them the illegal lender info, revoke ACH authorization and any wage assignment you may have signed. You will need to share those with your bank and your HR department at work, respectively. You will have to close your account as your money will never be safe again. Also, if you have documentation of paying that finance charge for over a year and a half, I'd figure out how much you've paid in interest, subtract the $1100 for the current loan and ask for a refund of the rest of it.

Illegal lenders can do nothing to you except using their scare tactics to make you pay them. File a complaint against them with the Illinois Division of Financial Institutions.

Paydaymax is illegal to lend anywhere in the US. A simple search in the web will tell you this.

Check the following link and see how to deal with these illegal lenders: http://www.debtconsolidationcare.com...-dealings.html

thank you so much ! You truly are a samaritan!!! I appreciate all of your help . May God Bless You!!!

You are welcome Guest. We all have received great guidance from this site and we are just doing our bit to help others. Keep us posted about the proceedings. We will wait to listen from you.

I just dealt with paydaymax --- I had three or four loans and when you added up what I actually borrowed and what I paid them THEY owed me $1000! I faxed a letter to paydaymax AND e-mailed one to CPD ---- and within a week I had the refund of the interest in my bank account! It was a miracle...I couldn't believe it was that "easy" - but by listing the laws and that I knew they were operating illegally in my state I guess they realized it wasn't worth the fight? I dunno...I am still amazed.

Good luck!!!

I am drafting my e mails now - however what address in Canada do I put that I will send my money orders to. I am currently adding up my charges - since April - I have paid $2,193 for a 1100 loan. UGHH!!! Do I just tell them they need to consider my loan paid in full or do I demand a refund and see where it goes from there. I have copies from my bank statements but obviously I will not be sending them because they should have all that on file right. !!!

Just state in your letter that you know they are illegal and state the laws. Write down what the principal amount was and what you have paid in total for the loan. Tell them that, as per law, you are only to pay the principal amount and as such they should refund you the excess amount that has been paid and a PIF letter. Their address is:

130-918-16 Ave North West
Calvary Alberta
Canada t2m0k3

But, I should advise you not to waste your money for the mail and send a fax instead. Their fax no. is 1-877-729-9682.

so I sent e mails to both payday max and credit depot and they came back with a fatal error. I then went to the library and faxed them a very indepth letter C and D and all that jazz. I told them that I had revoked any and all ACH and wage assignments and followed it with they can only contact me vai e mail. Everything was sent back on Saturday and I have not received any phone calls. I did receive a an e mail from credit protection stating that I needed to call them back and I replied from their e mail that I had faxed a letter on Saturday and am only adhering to those terms. I got another fatal error back from the e mail address they had just sent me. Do I send them another fax tommorrow or forget about it. I dont know what to do. I have a hard block on my account and am on pins and needles. I called PDL assistance to check them out and I dont know ..... First off she kept calling me Miss Brenda and then they reduced the debt by 87% but I have to pay $250.00 to get started ? Help UGHHHH

Kimmyksu76-Did you fax to the 877-729-9682 # listed here? I am dealing with them now & also demanding a refund although I have closed my account. I emailed them @ support@paydaymax.com & then 5 hours later, I received an email reminding me about my loan due in a few days.

Thank you erin7688 for sharing that information! It's nice when people stick around and help others.