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 Posted: Wed Oct 08, 2008 7:32 am Subject: PAYDAY LOAN HELP |
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I have internet loans with the following companies B.IG. , Payday 1, 500 fast cash, my cash supply, and geneva roth are these company legal in the state of ohio ? If what is my best cousre of action ????
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KENNETHPIERCE
Joined: 08 Oct 2008
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| Posted: Wed Oct 08, 2008 7:06 pm Subject: |
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Payday One is probably licensed since they usually only make loans in states where they have licenses. None of the others are though.
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FreakyFriday
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| Posted: Thu Oct 09, 2008 4:40 am Subject: |
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So what course of action should I take ?
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| Posted: Thu Oct 09, 2008 4:42 am Subject: |
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Payday One is the only one that's licensed in Ohio, you'll need to contact them and make payment arrangements, they are fairly easy to work with, the rest of your pdl's aren't licensed in Ohio.
I hope the information below will help you. 
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
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What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE
What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.
File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.
Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.
Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. |
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Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
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| Posted: Thu Oct 09, 2008 4:42 am Subject: |
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Secure your checking account by putting a block for electronic debits. Please read the sticky in regards to closing your account.
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wssu91
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| Posted: Thu Oct 09, 2008 7:07 am Subject: |
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does anyone have addresses for these companies? I also have a internet loan with magnum are they legal in ohio?
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KENNETHPIERCE
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Shazzers
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| Posted: Thu Oct 09, 2008 10:23 am Subject: |
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sorry to have so many questions I'm new to this site ,but where can find these letters? thanks
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KENNETHPIERCE
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Shazzers
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| Posted: Thu Oct 09, 2008 1:08 pm Subject: |
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I'm looking for the following letter template refering to stopping all ACH from these company.
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| Posted: Thu Oct 09, 2008 9:01 pm Subject: |
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if my pdl are not legal do I still need to pay them ? if so how
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| Posted: Fri Oct 10, 2008 4:46 am Subject: |
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if my pdl are not legal do I still need to pay them , if so how much do I need to pay them. I 'm also looking for e-mail addresses , addresses for the the following BIG, MAGNUM , MY CASH SUPPLY ,500 FAST CASH , GENEVA ROTH VENTURES . Where can I find sample letters to send these companies ? thanks for the help
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KENNETHPIERCE
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| Posted: Fri Oct 10, 2008 6:37 am Subject: |
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If the pdl's are not legal you should pay back the amount that your borrowed. Any fee's you paid would go toward this.
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You can turn painful situations around through laughter. If you can find humor in anything - even poverty - you can survive it.
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dawnlango7
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Shazzers
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| Posted: Fri Oct 10, 2008 8:03 am Subject: |
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I 'm also looking for e-mail addresses , addresses for the the following BIG, MAGNUM , MY CASH SUPPLY ,500 FAST CASH , GENEVA ROTH VENTURES . can anyone help?
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