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Question about Licensed Online PDLs

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PostPosted: Wed Jul 16, 2008 11:41 am Subject: Question about Licensed Online PDLs

I’m in Ohio and some of the PDLs are licensed here. What is the best way to handle them? If I put a hard ACH block on my bank account to stop the illegal ones then the licensed ones will get blocked as well. Do I contact them and setup payment arrangements? Will they even be willing to do that? I am going to have to do something soon and I am just trying to sort out my options on what I can do and what to expect..
slmbmax



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PostPosted: Wed Jul 16, 2008 11:49 am Subject:

If you put a block on your account, then yes, that will prevent debits from coming out.

I would contact the licensed ones and set up arrangements. Get their address and mail in payments to them.

desperatelyseekingsanity



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PostPosted: Wed Jul 16, 2008 11:53 am Subject:

I am not sure, but I believe that a hard debit block will also prevent you from taking out money using your atm card. You will have to go into the branch
Is there a reason that you can not close your account and open a new account. I think that is what most people have done.

jenoliver33

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PostPosted: Wed Jul 16, 2008 12:02 pm Subject:

Please read throught this thread before closing your account.
http://www.debtconsolidationcare.com/paydayloan/close-account.html

Jenoliver33, you are correct.. a hard block will also prevent you from getting your own money. If you decide to close your account or place a hard block on it, I suggest you take your money out first.

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ILLINOIS LICENSE SEARCH / CONSUMER CREDIT / GUIDE TO PAYDAY LOANS
http://www.idfpr.com/dfi/ccd/ccd_licensees.asp

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http://www.paydayloaninfo.org/state_detail.cfm?id=IL

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http://www.paydayloaninfo.org/state_detail.cfm?id=WI

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http://www.wdfi.org/fi/lfs/licensee%5Flists/
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