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 Posted: Mon Sep 10, 2007 9:37 pm Subject: please help me!!!!
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I took out 6 internet payday loans last month and now i am no longer working and they are due. my checking account is so far 158.00 overdrawn due to fees trying to go through. I got more due this weekend. I called one today and they told me to call back tomorrow. I am going to try to call everyone else tomoorow also to see what happens. Here is a list of what i owe and how much i paid.
Green Light Cash-$200.00 -0-paid so far due friday
One Click Cash-$300.00 $180.00 paid so far
Geneva Roth-300.00 $180.00 paid so far
BIG-$200.00 $210.00 paid so far
PaydayOK-$500.00 $152.00 paid so far
NLS-$250.00 $76.00 paid so far
I live in tn so what is my next course of action.
will they contact my references. they do not know that i used them as a reference. 
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granny
Joined: 07 Sep 2007
Posts: 449
Debtcc Points: 8183
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Posted: Tue Sep 11, 2007 4:26 am Subject: reply
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cs, I'm posting your TN state pdl for you to see. You will notice that rollovers/extensions are prohibited. This is what your internet pdl's have been charging you. Prohibited. Your checking account is now overdrawn so the pdl's can not get their debits; however, your bank is going to continue to hit your account with NSF fees each time a pdl debit comes through. Since you can not close your bank account due to it being NSF, please go to the bank (in person), talk to the branch manager. Tell them you need a hard debit block put on this account. Explain you have illegal companies taking unauthorized debits out of your account. Tell them you understand they can not close it at this very moment with it being NSF; however, to put a hard debit block on it so that the debits will not hit & the bank fees will not be added. You need to do this NOW. Your pdl debits are due Friday. Do it NOW. Go today. I also see right off hand that some of your pdl's are unlicensed/illegal. You need to get your bank account taken care of NOW (go today). Get that under control and then we can help you with the pdl's. Do not worry. Everything will be okay. We've dealt with them before. Please, get a hard debit block put on your bank account today. This is your first step - to stop the debits and bank fees. Do that, come back and post and let us know what's going on & then we're going to take it from there. Don't be scared or worried. We're going to help you. 
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cannr
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Joined: 07 Jun 2007
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Posted: Tue Sep 11, 2007 4:27 am Subject: reply
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Here are your state laws. (P.S. - Just for your information, none of my internet pdl's called my references).
| Quote: | Tennessee State Information
Legal Status: Legal
Citation:
Tenn. Code Ann. §45-17-101 et seq. and Tenn. Comp. R. & Regs. § 0180-28-.01
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
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: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill,
http://www.tennessee.gov/tdfi/ |
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cannr
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Posted: Tue Sep 11, 2007 4:55 am Subject:
Latest Blog Post : Where do I begin? |
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I just wanted to second what Cannr told you. My biggest fear was that my references would be called. All of the sleepless nights were for naught since no one was ever called. I did take a suggestion from this site though and laid the groundwork for identity theft with my checking account. This also helped explain why I was leaving my company credit union and going to a commercial bank. Nothing ever came of it and I was dealing with a pretty heavy load of lenders.
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MPEREZ56
Joined: 06 Nov 2006
Posts: 253
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Posted: Tue Sep 11, 2007 6:55 am Subject:
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TN statutes do not address internet based activity. To obtain a license in TN you must have a physical location . . . . TN is another state that allows companies licensed by another state to lend to their consumers. So you will need to see if any of the companies are licensed in another state. I think Payday OK is licensed in DE, but try for a PIF from them anyways. The rest are probably not licensed, although I haven't heard of Greenlight before.
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goudah2424
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Posted: Tue Sep 11, 2007 8:23 am Subject: reply
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goudah, I believe PayDay is the only one that is licensed. The rest are not. If our guest comes back.....
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cannr
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Posted: Tue Sep 11, 2007 8:30 am Subject:
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Yeah, that's what I thought too. I just wasn't sure of Greenlight since I hadn't heard of it before.
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goudah2424
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Posted: Tue Sep 11, 2007 7:10 pm Subject: contacted the bank
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today i took your advice and went to the bank to place a hard debit block on my account. the manager told me that they could not do that, but what they could do was sign a paper for each loan company to stop any tranactions from going through. i told them that some payday loan companies will try to debit with different names. so what they did was, even though my account was in the negative, close my checking account. i have a savings account with them also and my last paycheck is going direct deposit. so what they are going to do is when the paycheck go in they will deduct the fees that i owe them and then deposit it in my savings account, so i can withdraw the money. also, they are going to call me thursday morning and if any transactions do try to go through, we will go through them and if any fees are imposed i will be reimbursed. i wished that i had done this last week to prevent the overdraft charges, but like the bank manager told me, better late than never.
Now what is my next course of action. I have gotten e-mails from 2 loan companies. I am going to tell them that i lost my job. what reaction should i expect from them?
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granny
Joined: 07 Sep 2007
Posts: 449
Debtcc Points: 8183
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Posted: Tue Sep 11, 2007 7:18 pm Subject: reply
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cs, your bank account that the pdl's have the information on is closed and your bank will not let the debits go through. Correct? If so, you're okay. You've received 2 emails from your pdl's. Do not respond to them yet. You can now take your time since your bank account is taken care of. Do not contact the pdl's and tell them you've lost your job. What we need to do is send them letters. I'm assuming since we've only gotten as far as finding out your state, your pld's, and gotten your bank account closed, that you have not written any letters to your pdl's. Do not respond to them yet. Do not call them yet. Wait until we do the "letter thing". We need to send each pdl a letter stating that you revoke their authorization to debit, revoke any wage assignment that you may have signed, state your state's pdl laws, inform them of what you have paid/not paid, etc... Do not reply to them yet. Hang on.
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cannr
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Posted: Wed Sep 12, 2007 6:57 pm Subject: still waiting!!!!!
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i am still waiting on someone to tell me what to do next. BIG called me continously this morning and i kept hanging up on them because i did not know what to tell them. also receiving e-mails from lenders.
what do i do? please hold my hand and guide me through this process. i promise i won't let go.
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granny
Joined: 07 Sep 2007
Posts: 449
Debtcc Points: 8183
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Posted: Wed Sep 12, 2007 7:02 pm Subject: reply
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cs, do you know how to do pm? Underneath my post will be a little button with two people on it that says "pm". Click on that and it will send a message directly to me. Try it and see if we can get the "pm" thing going and I can pm you a letter for your pdl's. As far as BIG goes, they're going to hound the hell out of you. They are as illegal as all hell. And they won't stop calling you until they finally realize they are not going to get you on the telephone. You're doing right by hanging up on them. You're doing fine. Hang on. We're here with you. Try the pm thing & see if your message comes to me.
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cannr
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Posted: Wed Sep 12, 2007 7:05 pm Subject:
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Cs, Cannr is one of the best...follow her advice..she will do everything she can to help. We all know how difficult this is nd how scary all this can be. Hang in there.
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
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Posted: Wed Sep 12, 2007 7:11 pm Subject: reply
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Gosh, roxy! I think you're my biggest fan! 
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cannr
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Posts: 9374
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Posted: Wed Sep 12, 2007 7:15 pm Subject:
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You know I am..you saved me and my bank account  But..you know you have alot of fans around here.
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
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Posted: Wed Sep 12, 2007 7:22 pm Subject: reply
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I think me & cs have the "pm" thing going on now! I'll be able to send "the letter"!
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cannr
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Posted: Wed Sep 12, 2007 7:32 pm Subject: thank you
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this is the most wonderful website. i wish i had known about it years before. with this website, i hop
e to get my life and credit in order.
i will definitely recommend this website to all my friends in are in a financial mess and want help.
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granny
Joined: 07 Sep 2007
Posts: 449
Debtcc Points: 8183
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