Unfortunately I made the check out to them in the amount of $200 and it was not voided. I have contacted my bank about their ACH rules and to notify them I would be closing my account once I send my letters off.

Enter Your Samebox Message:

First off, have you repayed this company the $200 borrowed??

Reason I ask is because if they ILLEGAL then all you owe the PDL is the principal borrowed. You have a moral obligation to pay them the $200 and be done with them.

If you wrote a physical check for payment and issued a stop payment, this could be risky :?

Enter Your Samebox Message:

__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

-Aristotle-

I have not issued a stop payment on any check but right now my account is in the negative so nothing is going to get paid. I have paid them $50 back so far. I have no problem working with them on it, I just wasn't sure if I approach it differently.

Enter Your Samebox Message:

Ok well if your account is overdrawn the check you will be returned and will eat a NSF fee when they attempt to put it through. Or if you issue a stop payment you will still eat a fee for that. So that one is up to you how you want to repay them. Remember they are Illegal in NC so you only owe them $150 since you paid them $50 already.

I would issue a stop payment and close my account. However, you will need to send them a proposal letter stating they are unlicensed to lend to NC residents because PDLs are prohibited in NC. Also the fact that you only owe them the principal and you have a remainging balance of $150. I would send them payment by money order if it were me.

Here is a sample letter.
You can replace the ACH portion of the letter with verbage of your intent to issue stop payment on your check written.

Enter Your Samebox Message:

__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

-Aristotle-

Just a short update. I've closed my bank account and opened a new one. BB&T has been great about it and refunded a large portion of NSF fees I've incurred because of this pdl mess.

I also have heard from Loan Shop Online already and they closed both my loans (mine and husbands). I wrote them back about a refund so we'll see if they reply to that.

I'm still waiting to hear from Ameriloan, CashAdvanceNow, High Country Ventures, and Sonic Payday. Although I can't log in to the Sonic Payday site so they got my letter alright.

Will keep you updated.

Enter Your Samebox Message:

PS - Thanks everybody on this site. I was so low and upset, losing sleep and just about at my wit's end. Even though its not over yet, I feel much better, more knowledgeable, and know that there will be an end to this. Thank you so very much.

Enter Your Samebox Message:

I am glad to hear you are making progress. Hang in there :wink:

Enter Your Samebox Message:

__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

-Aristotle-

Loan Shop Online did refund my money. High Country Ventures agreed to work a payment plan with me and forget the interest. AND I just received an email from Sonic Payday agreeing to work with me on the principal only, accepting payments, and via MoneyGram. Yes!!! Three down and 2 to go. I'm not surprised about Cash Advance Now, but thought I'd have heard from Ameriloan by now. Anyway - YEAH and THANKS!!!

Enter Your Samebox Message:

so if you write a check for $250 in jan 2008 and pay every 2 weeks for a year and then put a stop pymt on the check you can get in trouble for that?

Enter Your Samebox Message: