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Ok I have several payday loans which I have overpaid.
My first one is MyCashNow. I got my first loan with them back in August 03' and have always paid the loans back with no prolbem. Now I am having prolbems paying them back.

Orginal loan:$765.00 Approved on March 16th 07'
Since then I have paid $1317.11 in fees and charges with only $191.16 going towards principal. That would leave me owing $573.84 towards the principal. When I defaulted on July 19th I called and the woman told me her supervisor said all I owe is $212.89. So they know they have charged me out the butt to have taken over 300 off the principal I owe. I have since found this site and am going to request a refund since they are not registered with my state (Arkansas). I am going to ask for $552.11 back. That's the 1317.11 minus the orginal loan amount of 765. What do you all think?

Also do any of you all have a template about asking for a refund? I have my letter wrote about them marking PIF but now I want some money back.

Posted: Wed Aug 08, 2007 1:28 pm Subject: stanner

stanner, honey, if you already have your PIF letter, just add to it. Does your letter state your loan amount, your state law, what you've paid (which is over the amount owed), revoke their debit authorization, revoke any wage assignment you may have signed, telling them to only contact you via email/USPS - no phone calls whatsoever? If you have all this stated, and it also states how much you borrowed vs what you've paid and shows an obvious overpayment, just word it to say you demand your account to be PIF and also demand a refund of xxxx dollars.

Posted: Wed Aug 08, 2007 2:32 pm Subject:

this is what I sent thru email . I plan on sending it by mail too.

Posted: Wed Aug 08, 2007 2:39 pm Subject:

Stanner....sounds good...and on another note...I have been looking for another address for them and ...pop...there it is...thank you. Do you also have another email address for them also??

PLease don't be too surprised though if you don't get a refund from them...refunds are rare and very hard to come by. Because of the amount of money you overpaid you should contact your AG and find out if you can take them to small claims court...I was told by my AG that was possible.

Posted: Wed Aug 08, 2007 2:45 pm Subject:

Well in over 4 years and 8 loans I have paid almost 7000 in intrest and fees. I think they owe me!!

Posted: Wed Aug 08, 2007 2:47 pm Subject:

I sent the email to support(at)mycashnow.com and in the subject line I put Account Details. So far it hasn't came back.

Posted: Wed Aug 08, 2007 2:51 pm Subject:

Stanner...I understand exactly how you feel...they owe me money too...several of them do...I was just preparing you from the info I have... Smile

Good luck..I mean that...

Posted: Wed Aug 08, 2007 2:56 pm Subject: stanner

stanner, your letter covered pretty much everything. However, I do like to tell people (and this is just my personal opinion) not to tell pdl's that you found information through the internet. We get accused all the time of getting "misleading information" over the internet. However, the letter has already been emailed, so that's okay. You would certainly think you would be entitled to a refund! However, as morningstarr stated, it can be hard. But you might have some luck! Others have! Now, be sure to also fax it (if you have a fax number) and also place the letter in the mail to them. Keep all documentation. If they respond to you via telephone, tell them to only contact you via email or USPS. If they email a response to you, keep it. Keep everything documented. That's why you really don't want to communicate via telephone. No documentation. Keep us posted as to if you get a reply. And, did you say you already filed your complaints?

Posted: Wed Aug 08, 2007 4:08 pm Subject:

No I haven't filed any complaints yet. I was going to send out the letters to all the companies then start with the complaints. I think I will just take out(on the internet) in the other letters. Thanks you guys for all the feedback. When I get this mess cleaned up I am going to use what I learned and know to help others.

Posted: Wed Aug 08, 2007 4:11 pm Subject: stanner

stanner, you got your bank account under control so that they can not hit your account any longer? You did good sending out the letters revoking everything. You need to file complaints with the BBB, the FTC, and your state AG. If possible, take out the "internet" part. That would just be in your best interest. Keep us posted.

Posted: Mon Aug 13, 2007 1:49 pm Subject:

Ok I have checked today to see if they have made any changes to my account online and I can't login anymore. Have any of you guys had this happen with them?

Posted: Mon Aug 13, 2007 2:10 pm Subject:

Yeah, that is pretty normal. I've seen it happen to many people.

Posted: Mon Aug 13, 2007 4:15 pm Subject: stanner

stanner, as goudah stated, it's not unusual. They may have you "blocked", as you revoked their authorization to debit your account. They may be "updating" your information (to say you're going to the collection department, etc.). It could be a number of things. However, don't get upset by it. They will contact you and let you know your status.

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