I have a couple questions about my payday loans...first of all, I live in Maryland where these types of loans are illegal, but the companies are saying they are in other states (for instance, greenlight funds is in Delaware) and they are saying that the contracts are valid because they are licensed in THEIR state.
Second, I went to my bank to ask them to close my account-they said that I cannot close my account because I have a negative balance (from the payday loans trying to debit so many times-returned item fees) that I cannot pay just yet. I asked the manager at my local branch to freeze my account until I can come up with the money to close my account, and he agreed. He said the activity is not and cannot in the future be considered fradulent because at one time I did give them the authority to debit my account and they did not obtain it illegally. But he did say he would freeze it so I didn't rack up more charges.
I sent all the payday loan companies letters that I revoke my permission for them to debit my account and that the account is frozen, and that if they attempt to do so they will be breaking the law and I will consider legal action.
Today, I called the automated line to my bank and my account is now overdrawn $500 because they still tried to debit my account after I sent the letters, and my bank also charged me returned item fees when they said they would freeze it!
I don't understand, and I'm on the verge of tears-is there any way I can stop there companies and my bank from taking every penny I have?!?! Please help! I am so upset that I am beside myself.

I told them in the letters that I am willing to pay the principal as a sign of good faith if they sent me a letter with the principal amounts owed and an address to which I should send my money orders. I also sent them cease & desist letters and they are still calling me. how can i enforce this? i did also send a wage revocation letter to them as well. I tried to follow all the good advice I received, and I really though I was doing everything right, but it's not working!

if you could provide the following

names of the companies
amount borrowed from each
amount debited by each.

some loan places are registered as CSO'S(credit service organizations)
please provide the info requested.we can help you here.

I would also go back to the bank and talk to the same person who told you they could freeze your account so you would'nt incur anymore charges and show him your ach revoke letters and tell him they are still debiting the account and that the bank is still letting them and charging you for it.

Also can you stop your direct deposit or open a new account at a different bank and have your direct deposit go to that account and then work out payment arrangements on you current account?

Remember if/when you do open a new account don't give out your account info or apply for any new pdl!

It doesn't matter what state these lenders are licensed in, YOUR state law prevails. You really need to go into your bank and speak with the branch manager and dispute these excessive charges, explain your account was suppose to be frozen.

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