Posts: 6
Credits: 198


Send message to ncooper
Sub: #1 Internet payday loans
Replied on 12-03-2008, 07:37 AM
Reply With Quote

Can you tell a payday loan that they are no longer to debit your account? I have 3 internet payday loans and I am in a financial mess trying to pay them off, but the only thing could pay was the interest because it was so high. I am not behind on the loans and I want them to stop trying to debit my account causing NSF fees. I live in Alabama



Posts: 2,563
Credits: 11,533


Send message to nohiogal
Sub: #2
Replied on 12-03-2008, 08:09 AM
Reply With Quote

What are the names of the payday loan companies? How much were they for and how much have you paid on each?

Posts: 228
Credits: 5,392


Send message to cdollar
Sub: #3
Replied on 12-03-2008, 08:14 AM
Reply With Quote

You can tell them to stop--but they most likely won't. You need to close your account and put a hard debit block on it.



Posts: 1,143
Credits: 4,745


Send message to dawnlango7
Sub: #4
Replied on 12-03-2008, 12:41 PM
Reply With Quote

Hi ncooper,

Here are your law's for Alabama. A pdl company must be licensed to lend. If you can please provide the info that nohiogal asked for we should be able to help you out:
Quote:
Quote:
Alabama State Information

Legal Status: Legal

Citation:
Ala. Code § 5-18A-1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 10-31 days
Maximum Finance Rate and Fees: 17.50%; 3%/month after default
Finance Charge for 14-day $100 loan: $17.50
apr for 14-day $100 loan: 456.25%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: None (max $ amount of loans at one time: $500)
Rollovers Permitted: One (rollover)
Cooling-off Period: Next business day after 2 continuous loans repaid
Repayment Plan: Yes

Collection Limits:
Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check
Criminal Action: Prohibited (Unless check returned due to closed account)

Where to Complain, Get Information:
Regulator: Alabama Banking Department
Address: P.O. Box 4600 Montgomery AL 36103
Phone: (334) 242-3452
Fax: (334) 353-5961
Regulatory Contact: Arlene Baldwin, , Consumer Services Spe, Bureau of Loans
Regulator Website
http://www.bank.state.al.us/


__________________
<a href="http://www.debtconsolidationcare.com/dawnlango7/index.html">
http://1static.debtconsolidationcare.../hof-badge.jpg</a>

Posts: 6
Credits: 198


Send message to ncooper
Sub: #5
Replied on 12-04-2008, 06:33 AM
Reply With Quote

The loans are from the Loan Shop and Loan Point USA(Geneva Roth Ventures). The amount of each is $300.00 and I can't afford to pay them off with the fee they keep charging. It is $180.00 each month unless you pay it in full and then they only charge $90.00 dollars. Loan Shop has received 3 payments of $180 and the other has received 2. The third company Paycheck Today have stopped debiting my account as of the end of last month.




«Previous Thread | Next Thread»
Thread Tools
Display Modes
Linear Mode Linear Mode

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -8. The time now is 06:52 AM.






About Us | Contact Us | Privacy Policy | Affiliate | Sitemap | Espanol | RSS Feeds| Terms of Services
* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 0.078 seconds.