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 Posted: Fri Jun 13, 2008 9:00 am Subject: Payday loan help!! Internet based loans in Tennessee |
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I have 6 payday loans and they are eating me alive!! Here is the break down:
Quickest Cash Advance(MTE Financial)
Owe: 200.00 Principal
Intrest Paid: 615.00
National Payday
Owe: 200.00 Principal
Intrest Paid: 400.00
ameriloan
Owe: 250.00
Intrest Paid: 540.00
Loan Poin USA
Owe: 300.00
Intrest Paid: 1620.00
One Click Cash
Owe: 350.00
Intrest Paid: 0.00
Need Speedy Cash:
Owe: 300.00
Intrest Paid: 0.00
All of these are internet based loans and I live in Tennessee. Please help!
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MJ
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| Posted: Fri Jun 13, 2008 9:17 am Subject: reply |
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welcome mj,first i know three of your pdl's
are MTE.quickest cash advance,ameriloan,and
one click cash.here is what you owe each of
these.
quickest cash advance.415.00 refund
ameriloan 290.00 refund
quickest you owe 350.00
these three are not licensed or legal
anywhere,therefore you only owe what you borrowed.
don't know about the other three.someone shoul be along to help with that.
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paulmergel
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| Posted: Fri Jun 13, 2008 11:33 am Subject: |
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Loan Point USA is also Geneva Roth. That is what it said on the E-mail's they send me anyway. How do I get started stoping them from drafting any more money?
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MJ
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| Posted: Fri Jun 13, 2008 11:50 am Subject: reply |
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easy,either close your current account and open another,or put a hard debit block on your current account.these pdl's will bleed you further than they already have if they have access to your account.
go speak with the bank manager face to face to get this done.
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paulmergel
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| Posted: Fri Jun 13, 2008 12:36 pm Subject: |
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Paul is correct. Once you have done that you will be in a position to negotiate a settlement. The account will have to default for them to be willing to negotiate. Once that has happened expect their collectors to call and be nasty but stand firm. Explain that you are experiencing a financial hardship and that you do want to repay them but can`t afford their ridiculous interest rates. They may not bend at first but they will eventually .Just don`t cave in to their threats. If you let them know you are scared they will have already won. I know this can be stressful but if you hang tight you will get through this. 
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mobile0311
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| Posted: Fri Jun 13, 2008 12:45 pm Subject: |
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This may be a silly question but what exactly is a hard debit block. Will it block checks from clearing as well?
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MJ
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| Posted: Fri Jun 13, 2008 1:17 pm Subject: |
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Don't feel bad . Most people have no clue what a Hard hold or Hard debit block is inless they have had to use it.  No it will not block checks from clearing, it will only block the ACHs you specify. Like Paul said ,You will need to speak with the Branch Manager at the bank to get that done .
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Scammed ? File complaints at these links
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mobile0311
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| Posted: Sun Jun 15, 2008 6:18 pm Subject: |
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DOES ANYONE HAVE ANY INFO ON NEED SPEEDY CASH OR NATIONAL PAYDAY?
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| Posted: Sun Jun 15, 2008 6:43 pm Subject: |
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ALSO DOES ANYONE KNOW ABOUT SSM, LLC? COULDN'T FIND ANYTHING AT BBB AND WHEN I GO TO THE WEBSITE IT IS NO LONGER A VALID WEBSITE.
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MJ
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| Posted: Tue Jun 17, 2008 1:10 pm Subject: |
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I checked out Need Speedy Cash at the BBB and as of 11/26/2007 They could not find a license. I also checked the Clark County Nevada records and they have no record as well. So I am figuring they are illegal.
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mjwalton
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| Posted: Wed Jun 25, 2008 7:30 am Subject: |
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So I talked to the bank and they say they can only put a stop payment on the ACH debits they can not put a block on my account. I can't close the account as I have 2 deposits coming thru. I don't know what else to do. I know a stop payment isn't going to stop them and I don't have the money to cover them. Any advice?
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mjwalton
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| Posted: Wed Jun 25, 2008 7:34 am Subject: |
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Go back and speak with the branch manager. Take copies of letters with you that revoke authorization for each company to debit.
Tell her a stop payment on the ACH won't work. The pdl's will just debit under another dba, or with another amount, or even just send a paper check through.
They can put a block on the account, or put it on deposit only. They can. How else would they stop an account when someone has their purse stolen? They can. Don't take no for an answer.
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goudah2424
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| Posted: Wed Jun 25, 2008 7:47 am Subject: |
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i have my letters ready to send but I was waiting to send them until I had my account taken care of. Will it matter that I haven't actually sent the letters yet?
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mjwalton
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| Posted: Wed Jun 25, 2008 7:53 am Subject: |
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I wouldn't mention that they haven't been sent out yet. Just take a copy of them all with you.
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How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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| Posted: Wed Jun 25, 2008 7:56 am Subject: |
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One more thing. This is one of my letters. I think I might have used one of your examples goudah. Does this cover all the bases?
Loan Point USA
Geneva Roth
1338 South Foothill Dr #325 PMB
Salt Lake City, UT 84108
| Quote: | Re: Loan # xxxxx
Re: ACH Revocation
Wage garnishment/Wage assignment Revocation
Cease and Desist Notice
Paid in Full Letter
Dear Sir or Madam,
Since taking a loan with you, I have educated myself on the laws and regulations of PDLs and how you have violated almost every single one of them and I will let the BBB, AG, and FTC know this.
According to the Tennessee Attorney General’s office since I reside in Tennessee you have to follow the Payday Loan Laws for the state in which you are licensed and you have to be licensed in the United States to do business with me.
You are shown to have a license in the state of Utah so therefore Utah law applies to my account. Below listed is the Utah Payday loan Laws. |
Legal Status: Legal (Applies to check cashers only)
| Quote: | Citation:
Utah Code Ann. § 7-23-01 et seq.
Loan Terms:
Maximum Loan Amount: No Limit
Loan Term: May not exceed 12 weeks
Maximum Finance Rate and Fees: No usury limit
Finance Charge for 14-day $100 loan: No Limit
apr for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: No limit
Rollovers Permitted: Not Specified (cannot extend or renew loan more than 12 weeks from original loan date)
Cooling-off Period: None
Repayment Plan:
Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Utah Department of Financial Institutions
Address: 324 South State Street, Suite 201 Salt Lake City, UT 84111
Phone: (801) 538-8830
Fax: (801) 538-8894 licensee) |
My loan was originated on 10/19/2007, which was well over 12 weeks ago. This being said, I have overpaid your company and am entitled to a refund of $990.00. I am requesting that you send my refund along with a paid in full letter.
ACH REVOCATION:
This is my written notice to you informing you of revoking any ACH authorization you may have on file from me on any bank accounts I currently have or may have in the future.
You no longer have my permission to use ACH drafts on any of my bank accounts.
WAGE ASSIGNMENT REVOCATION:
I hereby revoke your right to use any wage assignment I may have digitally signed or verbally agreed to.
This request to revoke complies with Tennessee Codes/Statues on Wage Assignments/Garnishments quoted below:
“DEDUCTIONS FROM WAGES “
“The employer may not make deductions unless ordered to do so by a court of competent jurisdiction (as in court-ordered child support payments); authorized to do so by state or federal law (as in IRS withholding); or authorized in writing by the employee, and then only for a lawful purpose. “
Any wage assignment/wage garnishment is thus invalid.
Cease and Desist:
This serves as your notice to cease and desist all collection attempts including but not limited to phone calls to me, phone calls to my employer, phone calls to my references, as well as any written communication to my employer.
Below I am giving you the specific law mentioned in FDCPA:
Title VIII section 805 (C)
You may email my paid in full letter or contact me by email or USPS only at (my email-adddress) to send me my paid in full letter as well as the refund I am entitled.
Any contact and all responses from your company, parent company, any of your affiliated companies, or collection agency retained by you, will be recorded and forwarded to the above mentioned agencies and authorities
If you contend you are operating legally in the United States, please provide a copy of all paperwork tied to this transaction-along with your licensure, which I will then forward to the State Attorney General for review. You will need to send that to me via certified mail by July 18th.
Otherwise, no further action is required on your part other than to send me a refund and a paid in full letter, which I will be expecting by July 18th, 2008.
Once I am in receipt of both the paid in full letter and refund I will notify all the above-mentioned agencies that you have satisfactorily resolved this matter with me.
Sincerely,
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mjwalton
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| Posted: Wed Jun 25, 2008 8:15 am Subject: |
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I don't have any letters I've written posted . . .
Also, fdcpa only applies to third party collectors, so it wouldn't apply to the original creditor. You may want to take that part out of the letter.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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