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napsgurl · Posted: Sun Sep 21, 2008 9:15 am Subject: Indiana PDL Help

Hello All,

I need help I am in a pdl hell. I live in indiana and I have the following pdl. I am trying to get out of this without having to file bankruptcy. Can anyone please offer me soem help and let me know if these places are legal in indiana and send me a sample cease and desist letter. This is stressing me and might be casuing me to lose my job with all the calls coming in any help is greatly appreciated

National Payday Loans- $500
Paydaymax- $561.79
Mycashnow-$286.17
Loan Shop-$520
Loanpoint- $520
Unitedcashloans-$ 390
payday-loan-yes- $455
upfrontmoney-$569
24-7advances.com-$374.00
Cash transfer center-693
paydayflash-$534.26
ImpactcashUSA-$400
CashAdvancenetwrok-$480
Outback financial-480

Please help me I am drowning here.

Posted: Sun Sep 21, 2008 10:19 am Subject:

Hi. I'm in IND too and just went through what you're going through now.

First off, read the thread above about closing our bank acount. Then go to your bank and talk to a manager, not just a teller.

I can tell you for a fact that paydaymax & mycashnow are not licensed to loan $$$ in Indiana, therefore at least those two loans are illegal. According to Indiana law, they should never have issued you a loan. I'm guessing most of the others aren't legal either, but someone who has dealt with them before will be along to advise you on them.

But basically you need to close your account asap. I had 4 illegal PDLs out when we closed our account in July. Money is so bad that if we had NOT closed the account, we would be homelss right now-we would probably have had our car repoed too.

When we went into our bank, we weren't the first people to talk to them about these loans and I'm sure not the last.

The gal was very understanding.

Feel free to call the Office of Financial Institutions for Indiana and talk to David there. He has a lot of info and you will come away from it with a lot of peace of mind.

since we closed our account, we haven't heard a word, other htna some emails that came in early on. We faxed and maield letters revoking the ACH withdrawls as well as the voluntary wage assemements. We quoted the law passed last year stating that any loan made after July 1 2008 from an unlicensed lender was considered null and void.

We also filed complaints with the BBB, but that didnt' really do much.

But find out if your bank will force open a closed account if its cosed first thing. If they won't, stop your direct deposists and close that account before anymore money is debited.

Theres a gal on this board that even for her loans makred paid in full and shes from here too. I havent had any luck getting thart done, but I also haven't heard from any of these places. The guy in Indy said if I get collection notices to send them to him and he'll contact them and tell them they're trying to collect on an illegal debt.

Also, once your account is closed and if/when you start getting calls, you CANNOT be jailed for not paying these so don't buy any BS someone may tell you.

Posted: Sun Sep 21, 2008 10:22 am Subject:

you can also do a search on this site for a C&D letter.

Posted: Sun Sep 21, 2008 11:02 am Subject:

Indiana requires the company to be licensed by state, here are the laws for Indiana:
You can CLICK HERE to see if any of your lenders are licensed. Keep in mind that some ipdl's use dba's. You can also type the name of the lender into the search box located in the upper right hand corner of this forum, that will bring up a list of posts made by other members, if you read through some of the posts it will give you an idea of how other members dealt with them.

napsgurl · Posted: Sun Sep 21, 2008 11:18 am Subject: indiana pdl help

thank you all for your post I have already opened another account and i have planned to go to the bank tomorrow. I will start working on the letters tonight. Any other advise is greatly appreciated.

Posted: Sun Sep 21, 2008 11:34 am Subject:

I hope the information below will help you. Smile

Keep in my this procedure only applies to the lenders who are unlicensed/illegal.

Posted: Sun Sep 21, 2008 11:36 am Subject:

I just posted that for good measure, it sounds like you're already on the right track! Good luck and feel free to ask more questions if needed. Take good care. Smile

Napsgurl · Posted: Thu Oct 16, 2008 11:54 am Subject: Indiana PDL HELp

Now I have my bank account secure and they have written off many of the fees, that has occured becasue of this but now. I am being threatened with collections and court I am trying to work with them but they are not cooperating. What should I do?

Posted: Thu Oct 16, 2008 12:18 pm Subject:

Which ones are threatening you? If they're illegal, then how do they expect they can sue you in a court of law, ummmm nope, it just doesn't work that way. Did you find out which of these are legal, and which aren't?

NAPSGURL · Posted: Sat Oct 18, 2008 1:48 pm Subject: Indiana PDL HELP

I searched the Attorney general website for them but i couldn't find any of them. I am assuming all of them are illegal. I have received threatening phone calls from mypaydayloan. unitedcashloans, impact and CTC.