Internet PDL in Iowa

I am certainly in PDL hell. Currently I have 7 loans out and am current, but my checking account is now negative due to the charges and I am behind on everything else. I don't think I can close my checking account since it is negative so I am not sure what to do next.
Here are my outstanding loans:
Kingston Financial - $300 - pd $534 in fees so far
500Fast Cash - $275 - pd at least $300 in fees
Integrity Advance - $500 - pd $900 in fees
PayDayLoans - $850 - pd $600 in fees
East Side Lenders - $300 - pd $270 in fees
Cash Direct - $400 - pd $848 if fees

I am not sure what to do next. Any suggestiions would be appreciated.

to start off know your state laws first http://www.debtconsolidationcare.com...pdls-laws.html

Hi there, let me do some checking and I will get back to you.

In Iowa, Internet payday lenders are not legal, either because of restrictive laws, or because the state does not license companies not located in that state, but requires a state issued license to lend. CLICK HERE to find out how to deal with illegal lenders.

Thanks Shazzers. I did some looking at my bank statements last night and I was way off on what I had actually paid on some of them.

Kingston Financial - $300 - pd $534 in fees so far
500Fast Cash - $7400 - pd $795 in fees & $150 on loan = $945
Integrity Advance - $500 - pd $1350 in fees & $110 on loan = $1460
Pay Day Loans - $700 - pd $88- in fees
East Side Lenders - $300 - pd $180 in fees
Cash Direct (Gov Emp Credit) $400 - pd $810.20 in fees & $170 on loan = $980.40

WagesFast - $200 - $152 in fees

I am concerned now because after additional research, it seems as thought these loans are legal in Iowa. However, they are not able to be rolled over each time which mine have been. Now I am wondering if I contact the companies to stop the charges, are they going to try and withdraw the entire amount they feel I owe? This sounds like it is going to get a whole lot worse before it gets better. Suggestions? Or has anyone else from Iowa gone through this?

My advice, close your account asap, then click on the link I gave you on how to deal with illegal lenders. You shouldn't contact them until AFTER you have secured your bank account or they will do just exactly what you fear the most, withdraw every penny from your account. Then, after you have them blocked, they will change their names and do the same thing again, and again, and again. Your account will never be safe again as long as these companies have your account information. These lenders are NOT legal in your state, period. Legal lenders do not charge illegal interest, they follow the law and obviously these lenders dis not follow the law.

Ok, I got my account secured today even though it is negative! The first person I talked with at my credit union told me they do an ACH stop pay but that is all so I asked to talk to someone else. The collections officer didn't think they could do anything either so she called in the branch manager and they came up with a solution!! They moved my negative amount to another account and will manually move my direct deposit paycheck next week and they will stop any and all debits to my account. I explained the whole situation and they were very cooperative & supportive. Now I get to work on the letters! I am going to get them out by Monday because they will try and start taking money on Thursday & Friday.

Now that's what I call customer service! Yay for you!

Mom,

You can be assured that IPDL's are NOT legal in Iowa. As the owner of stores in IA, I can assure you that if they were legal, I would be offering them. If you have any questions about the legality and/or any information that that your IPDL's are trying to tell you, please call Stuart McKee at the Iowa Division of Banking in DSM.

Good Luck!

So today would have been the first day Integrity Advance would have tried to debit my checking account and nothing happened so far. I sent an email on Monday but haven't heard anything either. The only company I heard back from was Eastside Lenders. They state that they are governed by the laws in Delaware. They consider the loan made in DE and also paid in DE so we will see how that goes. I do actually owe them $120 so with my email, I included what I would like for a payment plan. Their email response asked for me to call them to arrange a plan if I am in 'financial hardship'. We'll see what happens with the rest!

They're license in DE was canceled, it doesn't matter anyway because your state law prevails. You call the shots now, not them. If they want their money (only the principal amount you borrowed less any payments) then I would tell them you will send them payments in the form of a money order via the mail, as much as you can, when you can, take it or leave it.

Respond to them that they need to speak to Stuart McKee at the Iowa Division of Banking. I can assure you that Stuart will explain to them that if they want to lend in the state of Iowa, they had better have a storefront and a license!! The PDL regulations specifically state that you must have an actual signature, not a copy, fax or electronic version.

I just received a suprising email from Payday Loans of America regarding my loan. After sending just the email I found here on the forum they have decided to waive my additional fees and consider my loan PAID IN FULL!!!! I thought they would be one of the most difficult to deal with because I actually had 2 loans bundled together and one part of it was only 3 weeks old.

Thanks Shazzers & PDLOwner... I will keep working on the others!! : )

Yikes - I forgot to send one of the letters and just got a phone call at work from Alliance Asset Management who does the collections for Cash Direct Express. I have never dealt with someone like that before! Wow. I just sent off the letter I used for the other loans so hopefully I will hear something back soon. Will the written only communication piece be passed on to the collection agency as well? If not, does anyone have the email for AAM? The guy hung up on me before I could get that information from him. When they called here at work it bounced around to a few people before it was answered...I am afraid to leave my desk in case they call back. I don't want them to give info out. I asked that my number be changed on their account but who knows if they will do it.

And now I just found a withdrawal from my account for 'uncollected fee'. It doesn't match what the amount owed was and my bank is checking into it. This loan with Cash Direct Express is on a different account because I had some auto payments I hadn't been able to move yet. I was planning on closing that account on 11/20 but it seems my bank went ahead and revoked the ACH authority from CDE. I think that might be what this is about. Great, now I have overpaid them by $834.