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caolmine · Posted: Mon Jun 30, 2008 7:37 pm Subject: PDL nightmare in Oregon

First off I am so thankful I came across this site; I don't feel so alone fighting the endless battle of payday loans here in Oregon. Thank you also for the quick reply's for what I need to do; here is a list of my PDLs;
Big 200 loan-paid 720.
mypaydayloan 300 loan-paid 450.
Loanshop(Redhorse) 300 loan-paid 540.
Astro 300 loan-paid 360.
United 200 loan-paid 300
Centruion 300 loan-paid 630.
ACC 400 loan-paid 350.
JD Marketing 300 loan-paid 270.
EME Marketing 300 loan-paid 270.
Payco 300 loan-paid 144.
Again thanks for your helpful suggestions; I was planning on going to my bank tomorrow 07/01 and seeing about revoking the ACH authorizations. I have tried to get a sample letter of the cease and desist letter that everyone seems to be talking about but am unable to download it. Any help with that of what it needs to say?? Again I can't say thank you enough!!

Posted: Mon Jun 30, 2008 7:59 pm Subject:

Thank you so much for starting a new topic, and welcome! I will be posting your pdl laws shortly. Smile

Posted: Mon Jun 30, 2008 8:00 pm Subject:

Posted: Mon Jun 30, 2008 8:04 pm Subject:

You can tailor this to your needs. Remove the portion that says "Illegal loans", that is unless we discover the loans you have are illegal. Here is where you would check your Licensee Database.

Coalmine · Posted: Mon Jun 30, 2008 8:30 pm Subject:

Thanks for the letter, pdl laws and I will start searching the licensee database..to see if loans are illegal...there is a light at the end of the tunnel..thanks. Also I am just trying to find the best way to handle my checking account if I should revoke ACH or just close it. Any suggestions??

Posted: Mon Jun 30, 2008 9:55 pm Subject:

Revoking probably won't do any good, I am afraid the best way to protect your funds is to close out your account, or place a hard debit block on it. Read THIS before closing your account though. Smile

Posted: Tue Jul 01, 2008 6:37 am Subject:

I have to agree with Shazzers, you will need to close your account asap. Also, try not to use the same bank.

Posted: Tue Jul 01, 2008 7:07 am Subject:

Im' from Oregon myself Very Happy

All your loans are ILLEGAL.

Oregon has some new great laws that specifically state that companies lending over the internet must still be licensed by Oregon and follow Oregon laws.

Posted: Tue Jul 01, 2008 7:10 am Subject:

FYI - In Oregon the original creditor has the right to call the debtor. You cannot request no contact and expect them to follow it. That would only be for 3rd party creditors.

That is the same with most states, very few states allow a consumer to request no contact by phone with a creditor. That part should be removed from the letter . . . . .

Posted: Tue Jul 01, 2008 7:33 am Subject:

That's true legally Goudah, the creditors can actually contact you if they choose to do so, however, I have to disagree with removing it from the letter, it isn't illegal to request they not contact you by any other means except USPS, and ya never know, as stupid as some of these PDL's are, they MAY just follow it, I say, it doesn't hurt to try. But that would be up to the person sending the letter, personally, I include it, I figure what the heck, may as well try! And as you see, the letter ends with: "Your cooperation in this matter is appreciated". Laughing

Posted: Tue Jul 01, 2008 7:45 am Subject:

I just think it makes it look like the laws for the original creditors are getting messed up with the FDCPA. I know many that put the in the letter get a response saying they are wrong and the pdl isn't the original creditor.

It's up to the person sending the letter. I just know I wouldn't want to put something in a letter that wasn't legally correct. But that's just me. I'm a stickler like that. Very Happy

Posted: Tue Jul 01, 2008 7:49 am Subject:

Well, I can understand that, but it actually worked for me one time. They DID cease contact with me after receiving my letter, so it was worth it to me. And I didn't quote any laws, I just made demands. lol Laughing

Posted: Tue Jul 01, 2008 7:55 am Subject:

Hi Shazz! I agree with you, I don't feel that it is illegal to request communication by whatever means you desire just as it is not illegal to revoke ACH authorizations. I was lead to believe that they are strictly on a volunteer basis, and that was directly from my own banking institution. ACH authorizations are at the discretion of the customer/client. Whenever I cancelled any of mine there were no questions asked as to why, it just was what it was, revocation of the process. When dealing with the PDLs in my case, I left NO stone unturned. I kept flipping them over until I hit the one that had the prize. I am just thankful that I was able to get past them relatively quickly and without any loss to my finances. To all who are still struggling. . . heads up, this too will pass.

Posted: Tue Jul 01, 2008 8:43 am Subject:

ACH revocation is actually federal law . . . . . Any reoccuring ACH transactions can be revoked at the consumers request. It's in the electronic funds transfer act.

coalmine · Posted: Tue Jul 01, 2008 8:48 pm Subject:

now it is banking nightmare...I went to my bank seeing about putting a hard hold on my account-wouldn't do, then about ACH revocation-wouldn't do, bank manager out to lunch-most of the day, I had to write a letter to request my account be closed-being it was negative a couple hundred..bank manager still out to lunch at 5pm!! So do I wait to send C & D letters out to PDLs?? Thanks also for all your feed back and information about my loans being illegal in Oregon.

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