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Posted: Wed Apr 02, 2008 5:27 am Subject: PDL In Indiana

I live in Indiana & have the following internet PDL's:

1. Paycheck Today - $300 borrowed. Have pd back $485. ACA Recovery is threatening to "litigate" if I don't pay another $300 by this Friday at noon (April 7).

2. Nat'l Money Store - $400 borrowed. Have pd back $510. AS & Associates is threatening to sue for check fraud if I don't pay another $305.

They have also threatened wage garnishement. ACA comes across as if they are an attorneys office & AS & Assoc. refer to themselves as investigators.

They are trying to get me to pay ASAP of they will file in court. What can I do? Thanks.

Posted: Wed Apr 02, 2008 5:36 am Subject:

Indiana State Information

Legal Status: Legal

Citation:
Ind. Code Ann. § 24-4-4.5-7-101 et seq.

Loan Terms:
Maximum Loan Amount: $550 (not to exceed 20% of borrower's monthly gross income)
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500
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 per lender; Two total
Rollovers Permitted: None (cannot renew, repay, refinance or consolidate)
Cooling-off Period: 7 days after 6 consecutive loans
Repayment Plan: After 3 consecutive loans, lender must offer an extended payment plan of at least four equal installments at no additional cost

Collection Limits:
Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Indiana Department of Financial Institutions
Address: 30 South Meridin Street, Suite 300 Indianapolis IN 46204
Phone: (800) 382-4880
Fax:
Regulatory Contact: Mark Tarpey,, Supervisor, Consumer Credit
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources:
Indiana Small Loan Law Borrower Rights and Responsibilities

Small Loan Finance Charges

Posted: Wed Apr 02, 2008 6:31 am Subject:

Thanks for the state information. If I am reading it correctly, I have more than satisfied my payment obligations to them. Is this true & how do I get them to stop bothering / threatening me. Is there any truth to their claims that they can "litigate".

Posted: Wed Apr 02, 2008 9:39 pm Subject:

PaycheckToday is not licensed/legal to lend anywhere. They are illegal. So, they turned you over to a collection agency? Do you have the collection agencies address? If so, send out a debt validation letter ASAP. They will never be able to properly legally validate this debt, as it is an illegal debt. Do not pay them another dime.

National Money Store also turned you over to a collections agency? Do you have an address for them? If so, they, too, need a debt validation letter sent to them. Most likely, they won't be able to properly validate it either. PayCheckToday can stick their threats up their butts. They're illegal. Can you see them taking you to court? LOL! And their collection agency is going to send you to litigation? On an illegal debt from an illegal company that you overpaid? Good luck to them! And the National Money Store collection agency says they're going to get you for "check fraud"?? What check? There is no check. Send those debt validation letters out now. If you need help with that, just post! Very Happy

Guest · Posted: Thu Apr 03, 2008 5:09 am Subject:

Thanks so much for the advice. What makes them illegal (not that I dispute it)? Paycheck Today sent my acct. to a company called ACA Recovery. ACA claims to be associated with some attorney named Norman Kalinas. Nat'l Money Store sent the acct. to an AS & Associates.

Do you have a sample letter that I could see? Do I send the letter to the original lender or the collections agency? Or both?

Thanks again for your help.

Posted: Thu Apr 03, 2008 7:15 am Subject:

M, Pay Check Today is illegal becuase they are not licensed in your state. In your state they have to be licensed with the Indiana Department of Financial Institutions to do business and if you look the licensee database, they are not listed.

Here is a link to a really good letter for debt validation....it is from a post on the fourm. You can copy and paste it and change the information to reflect your situation.

http://www.debtconsolidationcare.com/forums/about216.html

I have been through this will several of my pdls, so if you have any questions, please come back and post. Oh and you send the letter to the Collection Agency.

Posted: Thu Apr 03, 2008 7:19 am Subject:

Here is some information on ACA in case you need it..

ACA RECOVERY
38 East Ridgewood Avenue #395
Ridgewood, NJ 07450
View Location Map

Local Phone Number: (201) 670-8851

Also, here is some additional information you might like to read about them...

http://www.debtconsolidationcare.com/collection-agencies/validated-deb t.html

Posted: Thu Apr 03, 2008 7:26 am Subject:

Here is some information on AS and Associates. This is an old thread but there are addresses and additional information listed on there...

http://www.debtconsolidationcare.com/forums/asassoc-houston.html

Also...when you send your letters to these companies be sure to send them Certified return recepit so you can prove they received them. I also faxed mine becuase they were calling constantly and being very ugly...once they received the fax, the calls stopped.

Posted: Thu Apr 03, 2008 7:37 am Subject:

Roxy,

Thanks for the info. I will get the letters out today. Do you happen to have a fax # for ACA?
I'd like to fax them the letters as well.

Thanks again.

Posted: Thu Apr 03, 2008 11:12 am Subject:

M, I ended up calling them and asking...the fax is

201-670-8272 Laughing

If you need anything else, let me know.

Posted: Thu Apr 03, 2008 12:28 pm Subject:

MM-

I live in Indiana as well and I have dealt with AS&Associates (GREG PATTON) He gave me the same speech about how I was committing check fraud and called my place of employment several times and my home number. I did NOT back down and I asked for validation of the dealt. He wanted 570.00 on a 250.00 loan which I had paid National Money Store back and then some because rollovers are not allowed in Indiana. I can tell you that you will BE FINE! Nothing will happen to you. If they call back- tell them to send you something in writing. Trust me they will try to tell you you have committed fraud, and wrote a bad check which is a felony- hold your ground and tell them send me something in writing. When I spoke to Greg Patton he yelled at me and wouldnt send me anything in writing. He called me one day at work and gave me the same speech I said unless you send me something in writing I have nothing to say to you and hung up. About 5 days later I got a fax at work with just the name of the company and the amount that I owe. It wasnt even CLOSE to being accurate. I sent AS& Associates and certified letter of validation/and a Cease and Desist to them. I also filed complaints with the BBB, IN state Attorney General's office, and the FTC. I have not heard a word from them.

I will file complaints immediately if you can. Trust me you will be OK...nothing has happened to me Very Happy

Let me know if I can help more.....