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 Posted: Wed May 07, 2008 11:35 am
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I just got back from the bank. The lady there was so nice to me. I even got to talk to the Branch Manager. This is what happen. I had to open a new account with them and got all my money transferred to the new account. But I was not able to close my current account. He said that there was a transaction pending and it had to be done tomorrow. So I told them that my acct will be at negative tomorrow and I was not going to be able to close tomorrow. He said that I had to wait until tomorrow to see what happens. So he said he but a "Restriction on the account" stating account is being closed for unauthorized debit transaction. So after whatever is pending gets posted then no one else will be able to debit the acct. So of course I'm going to be negative tomorrow becasue I'm pretty sure it's two PDLs for 60.00 each. Then I said and how I'm I going to pay for that? He said you can dispute and it takes 3-5 days to get your account credited. Then I can close it. So now I have to wait until tomorrow to see what happens. The thing (I think) is that I opened a new account and now I can change my direct deposit. What should I do in the mean time? With that restriction can they still keep taking money from me? Please help.
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maria_flores07
Joined: 05 May 2008
Posts: 37
Debtcc Points: 570
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Posted: Wed May 07, 2008 12:21 pm
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I just called the bank to there Customer Service and the lady said that the memo is a stop payment and the account CAN be closed. So she went ahead and closed it and she said it will take one business day. She said there are no transactions pending. So account should be closed tomorrow. Now what?
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maria_flores07
Joined: 05 May 2008
Posts: 37
Debtcc Points: 570
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Posted: Wed May 07, 2008 12:40 pm
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Hi Maria...That is great news!!!
Next, need to send letters to your illegal PDL' One Click, Ameriloan and JD Marketing.
Here is a letter for you to send to them. Where is says <or>, there are 3 scenarios listed...just choose the one that fits for you then delete the others.
Date
Name and address of the PDL
After doing research on internet payday loan laws in the State of California, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of California in general:
California State Information
Citation:
Cal. Fin. Code §§ 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
After finding out that your internet payday loans are illegal, your company should actually not issue loans to California residents at all.
I have contacted the California Office of Financial Institutions and the California State Attorney General’s Office regarding your internet payday loans and was informed they are indeed illegal in California and was advised to pay what is due according to principle amount only of the loan.
I have currently paid XXXX DOLLARS on my XXXX DOLLARS loan. The legal amount that could have been charged to my loan is the principal amount of XXX DOLLARS even if your internet pay day loan was legal in California. I have paid XXXX DOLLARS on this loan by your debits of my bank account and only owe XXXX DOLLARS to have this paid in full. I am willing to pay the amount of XXX DOLLARS to pay the principle amount of the loan only, as advised by my Department of Financial Institutions and the California Attorney General's office. <OR> I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan. <OR> I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan and send me a refund of $XXXX.
<OPTIONAL>
I demand a physical address to mail payments to, as you are no longer authorized to debit my bank account.
You must provide me with a physical address to mail my payments. I will not Money Gram or Western Union any payment. If no physical address is provided for me to mail payment to, no payment will be made.
I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from the California Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the State of California.
You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.
I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.
I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, and the California Attorney General's Office.
I expect a response from your company no later than XX DATE, regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.
Please respond by XX DATE, regarding this matter by US Postal mail or by email only.
Your name
CC:
Better Business Bureau
California Attorney General
Federal Trade Commission
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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24889
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Posted: Wed May 07, 2008 1:06 pm
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You have no idea how I feel. I'm done with my first step and I can actually plan on catching up with my REAL bills. I am so happy to have found this site. Thank you all. I'm ready for my next step.
Letters here I go.
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maria_flores07
Joined: 05 May 2008
Posts: 37
Debtcc Points: 570
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Posted: Wed May 07, 2008 1:21 pm
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Oh let me tell you, I jumped for joy when I could finally pay my real bills!!  We're here to support you 100%! You've done great!
The bank account is usually the trickiest part to get handled.
Now, about Payday One and Thinkcash....just contact them and make other arrangements.
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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24889
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Posted: Wed May 07, 2008 1:25 pm
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So now how in the world do I get address and e-mail for One Click Cash, Ameriloan, JD Marketing Group? Is One Click and Ameriloan the same?
For Payday One and Thinkcash do I give them my new account? No right?
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maria_flores07
Joined: 05 May 2008
Posts: 37
Debtcc Points: 570
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Posted: Wed May 07, 2008 1:41 pm
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I got them I did a search and found them.
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maria_flores07
Joined: 05 May 2008
Posts: 37
Debtcc Points: 570
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Posted: Wed May 07, 2008 1:55 pm
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| Code: | | I got them I did a search and found them. |
Ok great!
| Code: | | For Payday One and Thinkcash do I give them my new account? No right? |
Since Thinkcash is an installment loan, I dont think theres a problem there. For PaydayOne, I would be leery of. Many of the PDL's are inter-related and once your new info is "out there" with one PDL, you never know if another PDL will get it.
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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24889
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Posted: Thu May 08, 2008 11:38 am
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I have a Payday Loan with AIP. I live in Indiana, THey won't let me send payments its for 289. What do I do? I willpay but need to send it in,, has anyone delt with them?
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sjfoley
Joined: 08 May 2008
Posts: 13
Debtcc Points: 169
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Posted: Fri May 09, 2008 12:06 pm
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I took a $300.00 pdl from United Cash Loans back in November. They have since debited my acct $450.00 from my checking acct. What can I legally tell these people when they call me at work?
I think that since I took their money, I really should pay it back, but the so-called renewal fees more than cover the original amount of the loan. Is there a "script" or something that I could read them asking them to consider the loan paid in full? Even though I paid more than I borrowed, I would even consider the overpayments as Interest or fees. Sure, I wouldn't mind getting them to refund the overage, but at this point, I just want it to be OVER WITH.
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rowan625
Joined: 07 May 2008
Posts: 3
Debtcc Points: 41
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Posted: Fri May 09, 2008 12:08 pm
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I'm in pennsylvania
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rowan625
Joined: 07 May 2008
Posts: 3
Debtcc Points: 41
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Posted: Fri May 09, 2008 12:16 pm
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Hello rowan625 and welcome to the community! What state do you live in? You may need to close your bank account in order to get them to stop stealing your money, but before you do that, read the information about closing bank accounts at the top of this forum. My suggestion would be for you to call your bank, and ask to speak with the Branch Manager, explain that you NEED the name and phone number of the ACH processor that processed these transactions asap! You may need to speak to a few people at the bank before you get someone who is willing to get that information for you. Once you have obtained it, call that ACH processor, and tell them you are NO longer authorizing any more debits to your account from United Cash loans as they are an illegal company and they have and will continue to steal money from your account whether you tell them to stop or not. You will need to place pressure on these processors to contact Cash Transfers. I'm going to post your laws momentarily.
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 2595
Debtcc Points: 18822
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Posted: Fri May 09, 2008 12:16 pm
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| Code: | Pennsylvania State Information
Legal Status: Prohibited
Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, § 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. § 6201 et seq.
Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year
Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions
Regulator’s Website
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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
Moderator
Joined: 05 Dec 2007
Posts: 2595
Debtcc Points: 18822
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 2595
Debtcc Points: 18822
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