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Posted: Mon Mar 31, 2008 1:34 pm Subject: Help - Internet PDLs in Virginia

I've been lurking on the forums and I've learned a lot, and tried to put it to use in getting out of PDL hell.

I have five current loans, all via the Internet, and I'm a Virginia resident:

Payco (formerly AIP - same phone number 800-274-4159 and same policies, fees, etc) - borrowed $200, paid back $99 so far

PaydayMax - borrowed $500, paid back $374.84 so far (I had two previous loans with them - one for $330, which I paid in full plus interest total of $585.16; and one for $500 which I also paid back in full plus interest total of $640.55)

Immediate Payday (also known as Cash in 10 Minutes) - borrowed $800, paid back $435.94 so far (I had two previous loans with them - one for $300which I paid in full plus interest total of $384.92; and one for $500 which I paid back in full plus interest total of $668.13)

VIP Cash (also known as QLoot) - borrowed $500, paid back $310 so far (I had one previous loan with them for $500 which was paid back in full plus interest total of $625)

Get Your Cash Today (also known as KRRS) - borrowed $600, paid back $95 so far.

In addition, I had a loan with Magnum Cash Advance (also known as International Cash Advance) for $990, which I paid in full plus interest for a total paid of $1,980.

I have filed complaints against Payco, PaydayMax, Immediate Payday and VIP Cash with the Virginia Bureau of Financial Institutions. None of them are licensed in VA, and all are charging significantly higher fees than the state allows. I've also sent a letter via fax to each of them explaining that they are in violation of VA law and are unlicensed (along with a copy of the relevant parts of the statute) and a copy of my complaint, and a request to consider my accounts paid in full as they currently are.

My bank is Bank of America, and I've found them pretty helpful in putting stop payments on ACH charges in the past (I did this with BIG after I had paid them several hundred dollars on a $200 loan; they still call, but I now know they are entirely illegal and do not fear them).

Any advice on anything else I can do, or anything I should have done differently (besides not getting the PDLs in the first place, of course!)

Posted: Mon Mar 31, 2008 4:05 pm Subject:

Sounds like you're doing your best to get out from under these varmints. Did you keep your current bank account opened? You might want to file a complaint with your BBB and Attorney General's office too.

Posted: Mon Mar 31, 2008 4:56 pm Subject:

Star, the first thing I noticed, is that your bank account is still open. The stop payments are bot going to work long term. Please read this about closing your account. There are posts by members and their experiences which will be helpful with your decisions....

http://www.debtconsolidationcare.com/paydayloan/close-account.html