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 Posted: Thu Nov 15, 2007 1:05 pm Subject: Need Questions Answered
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Hello,
I live in the state of Pennsylvania and I have 4 pdl's (yes I fell into the trap) I realized that I can no longer afford the payments, and after speaking with one of them (them not willing to work with me) I went to my bank and closed the account so none of these can debit my account on 11-30-2007.
I guess what I need help with is the only income I have is I get SSI for 2 of my kids........can these pdl companies do a wage attachment to these loans with my kids SSI money? Can they take my income tax refund (hubby works so we get a tax refund)? What can and is going to happen to me as soon as these go into default? (which will be 11-30-07)
I can use any advice on how to get help with this problem
Here are the loans I have:
CashNetUsa.Com
Funding Date: October 22, 2007
Principal: $350.00
Loan Amount: $437.50
Payments Made: $87.50
Extended Amount: $350.00
PayDayOk
11/1/2007 Refinance 59418688 82188090 Complete $0.00 ($82.50) ($82.50) $350.00 9/29/2007 Refinance 59367834 82123064 Complete $0.00 ($45.00) ($45.00) $350.00 9/11/2007 Principal Increase 59326601 82074859 Complete $150.00 $15.71 $134.29 $350.00 8/31/2007 Refinance 59302112 82047015 Complete $0.00 ($42.86) ($42.86) $200.00 8/1/2007 Refinance 59229834 81964426 Complete $0.00 ($45.72) ($45.72) $200.00 6/30/2007 Refinance 59146994 81871498 Complete $0.00 ($35.72) ($35.72) $200.00 6/4/2007 Loan Disbursed 59074923 81791495 Complete $200.00 $0.00 $200.00 $200.00
PayDay1One
11/15/2007 56333229 1347721 Fees accrued from (11/1/2007) $35.00 $0.00 $35.00 $0.00 $0.00 $0.00 $285.00 11/1/2007 56261288 1347721 Refinance ($82.50) $0.00 ($82.50) $0.00 $0.00 $0.00 $250.00 ACH 11/1/2007 56261288 1211831 Fees accrued from (9/29/2007) $82.50 $0.00 $82.50 $0.00 $0.00 $0.00 $332.50 9/29/2007 56203235 1211831 Refinance ($72.50) $0.00 ($72.50) $0.00 $0.00 $0.00 $250.00 ACH 9/29/2007 56203235 1089583 Fees accrued from (8/31/2007) $72.50 $0.00 $72.50 $0.00 $0.00 $0.00 $322.50 8/31/2007 56175549 1089583 Refinance ($27.50) $0.00 ($27.50) $0.00 $0.00 $0.00 $250.00 ACH 8/31/2007 56175549 1036031 Fees accrued from (8/20/2007) $27.50 $0.00 $27.50 $0.00 $0.00 $0.00 $277.50 8/16/2007 56175549 1036031 Deposit $250.00 $250.00 $0.00 $0.00 $0.00 $0.00 $250.00 ACH
PayDaySelect
Date Action Loan Transaction Status Principal Fees Transaction Total Principal Balance 11/1/2007 Refinance 56905844 79350062 Complete $0.00 ($49.2 ($49.2 $200.00 10/4/2007 Loan Disbursed 56882677 79317482 Complete $200.00 $0.00 $200.00 $200.00
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mom2373
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Posted: Thu Nov 15, 2007 1:35 pm Subject:
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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Wage assignments are voluntary. Send a letter to each of them revoking any wage assignment agreement you may or may not have made.
Wage garnishment have to be done by the court in Pennsylvania where you live. That will not happen from the PDLs. If turned over to a collection agency or attorney then there is a remote possibility down the road but still not likely. Cashnet is the only one that operates legally where they loan
Last edited by frogpatch on Thu Nov 15, 2007 1:40 pm |
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frogpatch
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Posted: Thu Nov 15, 2007 1:40 pm Subject: Where can I find
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A copy of a letter to send to these companies. Do I need to type them up or can they be handwritten?
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Mom2373
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Posted: Thu Nov 15, 2007 1:44 pm Subject:
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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You should type them up on your computer and mail them certified return receipt. You might as well included a cease and desist paragraph in there also telling them they are to communicate by USPS only.
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frogpatch
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Posted: Thu Nov 15, 2007 1:46 pm Subject:
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| Quote: | You should type them up on your computer and mail them certified return receipt. You might as well included a cease and desist paragraph in there also telling them they are to communicate by USPS only.
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What should the letter say? I am new to this and do not know how to deal with all of this
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Posted: Thu Nov 15, 2007 1:52 pm Subject:
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Actually, all of those companies are operating legally in PA.
Payday One, Payday OK, and Payday Select are all legally licensed too.
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goudah2424
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Posted: Thu Nov 15, 2007 1:58 pm Subject:
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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| Quote: | Your name
Your address
Their Company Name
Their Address
Attn: If Known
Re: Account Number or file number if known
Dear Sir/Madame or name if known.
In reference to the above account I hereby revoke any ACH withdrawal priveledges and wage assignment agreements that I may or may not have with your company or any of its affiliates.
At this time I also demand that all forms of communication by any means besides the United States Postal Service cease and desist immediately.
Respectfully,
Your signature
Your typed name. |
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frogpatch
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Posted: Thu Nov 15, 2007 5:59 pm Subject:
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Where can I find out about PA payday laws?
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Posted: Thu Nov 15, 2007 6:45 pm Subject: r
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goudah stated that Payday One, Payday OK, and Payday Select are all legally licensed, as well as CashNetUSA. Since you are in PA, you will need to abide by the pdl law of the state in which the pdl is located. So your PA pdl law will not apply. The pdl law of the state where the pdl is is the law you have to abide by.
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cannr
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Posted: Thu Nov 15, 2007 8:58 pm Subject:
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Ok, so what is exactly going to happen to me as soon as I default on these 4 pdl's? (which will begin 11-30-07)
I am scared as hell that I will end up going to jail or something like that. They will not be able to debit my account as I closed that account and opened up a new one at a different bank. Also they will not be able to call me as I had to change my phone # due to my son giving my number out to everybody and anybody, and my new # is unlisted.
I could really use help here as I am so scared right now.
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Posted: Thu Nov 15, 2007 9:41 pm Subject: r
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Don't be scared. We're all here for you. Can you contact these licensed/legal pdls and arrange another form of payment other than debiting your bank account? Tell them you have no bank account any longer and need an alternative payment method. Do you need for us to post the pdl law for the states which the pdls are in so we can see what the laws are and how much they are allowed to charge you? We can do that if you like. Please do not be scared. As you can see, many people are in the same situation. You are not alone. You are not the first. And we can all help you, okay? Just let us know if you would like us to post the state pdl law that the pdls are in so we'll know where you stand. You can always send in payments to them. They don't have to debit your bank account. Please don't freak out. We are here for you.
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cannr
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Posted: Thu Nov 15, 2007 9:56 pm Subject: Yes can you please look up the laws for me
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| Quote: | Don't be scared. We're all here for you. Can you contact these licensed/legal pdls and arrange another form of payment other than debiting your bank account? Tell them you have no bank account any longer and need an alternative payment method. Do you need for us to post the pdl law for the states which the pdls are in so we can see what the laws are and how much they are allowed to charge you? We can do that if you like. Please do not be scared. As you can see, many people are in the same situation. You are not alone. You are not the first. And we can all help you, okay? Just let us know if you would like us to post the state pdl law that the pdls are in so we'll know where you stand. You can always send in payments to them. They don't have to debit your bank account. Please don't freak out. We are here for you.
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Yes, can you please do this for me? It would be greatly appreciated. Can you also point me in the right direction on how to resolve these?
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tinabarr
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Posted: Fri Nov 16, 2007 6:01 am Subject: r
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tina, are you "guest" that has been posting??? Trying to make sure it's the same person here! 
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cannr
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Posted: Fri Nov 16, 2007 6:47 am Subject:
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Yes, I was the guest that was posting
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Posted: Fri Nov 16, 2007 11:59 am Subject: r
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Cashnetusa
Fax: (817) 335-1100
Address: 1600 W 7th St
Fort Worth, TX 76102-2504
CashNetUSA
Phone: (888) 801-9078
Fax: (888) 801-9075
Address: 1600 W 7th St
Fort Worth, TX 76102-2504
Website: cashnetusa.com
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cannr
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Posted: Fri Nov 16, 2007 12:00 pm Subject: r
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| Quote: | Texas State Information
Legal Status: Legal
Citation:
7 Tex. Admin. Code § 1.605; Tex. Fin. Code Ann. §§ 342.251 et seq. and 342.601 et seq.
Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Texas Office of Consumer Credit Commissioner
Address: 2601 N. Lamar Blvd. Austin TX 78705
Phone: (512) 936-7600
Fax: (512) 936-7610
http://www.occc.state.tx.us/
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cannr
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