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Guest · Posted: Thu Sep 27, 2007 8:17 pm Subject: Help in Nevada for PDLs

Hi..

I have the following loans (all recently renewed)

Cashnetusa- $500.. $87 fee
Paydayok- $500. $50 fee
Paydayselect- $500, $75 fee
Check City- $540, $approx $90 fee

I am sunk and I keep having to renew just to keep my bank account in the positive. I am planning on shutting it down after this next payday, once everything clears one last time.

I live in the Nevada. I do not want to default on these loans, I need to work about a better plan but I feel I can't negotiate anything until I get rid of these fees and the auto payments.

Posted: Thu Sep 27, 2007 8:41 pm Subject: reply

guest, I am posting the Nevada state law for us all to see. We need to know; however, are these store front loans? Or are they internet loans?

Posted: Thu Sep 27, 2007 8:42 pm Subject: reply

Posted: Fri Sep 28, 2007 6:00 am Subject:

Hi,

They were all internet loans. Check City also has storefronts here but I got the loan on the internet.

Posted: Fri Sep 28, 2007 6:54 am Subject:

Smoking, Is the amount listed what your fees are each time or the total of what you have paid on each loan? If it is the fees, could you please post the total amount you have paid on each loan.

Posted: Fri Sep 28, 2007 8:55 am Subject: reply

Cashnetusa
1600 W 7th St
Fort Worth, TX 76102-2504
Fax: (817) 335-1100

I need to know what address your internet Check City is using, if you have it.

Also, looks like PayDayOK and PayDaySelect are one in the same. However, they have addresses in both Delaware and New Mexico. Do you know which addresses you are dealing with?

Posted: Fri Sep 28, 2007 12:18 pm Subject:

Hi All,

Am at work, didn't want you all to think I was ignoring your questions. I have had the paydayok, paydayselect & cashnetusa loans as a revolving door for over a year so it will take me some time to calculate how much I've paid them (a very scary number I'm sure).

I would estimate that the first three I've sent them over $2000 each (wow Sad

) and the Check City would be about $900 at this point.

Ok.. both paydayok and payday select are in Deleware

Posted: Fri Sep 28, 2007 12:19 pm Subject:

Check City Online
P O Box 970028
Orem, UT 84097

Posted: Fri Sep 28, 2007 12:23 pm Subject:

Hi smokinjbc. The good thing is they may not be legal and you might be able to get some refunds. At the very least, when you shut down your account, you will be back in control of your money. Let me just tell you, it is an awesome feeling. Smile

Guest · Posted: Sat Sep 29, 2007 6:03 pm Subject:

So.. how would I find out whether those places are legal

Posted: Sat Sep 29, 2007 6:12 pm Subject:

http://sandgate.co.clark.nv.us/businessLicense/businessSearch/blindex. asp

Give this a try....

Posted: Sat Sep 29, 2007 6:27 pm Subject:

Hi...

Since I have to act on this this week, I'm going to run my plan by everyone. This is assuming that the loans are legal btw.

I will prepare letters that revoke ACH authorization from all three companies. I will fax those letters and also send them by certified mail.

In those letters I will also state that they are only authorized to contact me by email or in writing and prohibited from contacting me at my job or on my personal phone.

Armed with copies of these letters, I will go to my local B of A branch (has anyone had a good experience doing this?- what approach did you take-I've had nothing but good experiences thus far with B of A) and close my checking account and ask for a hard freeze? or block on the account. I will have my payroll changed to paper check.

I still have a visa and savings account with B of A and I do not plan on re-opening my checking account for some time. If things go smoothly with the loans, that is they work with me on a reasonable payment plan, I will restart my direct deposit into my savings account.

My primary concerns are harrassment at work. My bosses are great but I will be really embarrassed if I get multiple, harrassing calls. My other big worry is that the bank will not cooperate with the closed accounts and will charge me a bazillion bucks in fees and/or honor the debits.

If they do that, and I can prove I sent the letters that revoke authorization to debit, will I be entitled legally to a refund of those fees? I want to maintain a good relationship with my bank, and I don't want to be owing any more money that I already do.

About 5 months ago, I almost did this and I went so far as faxed the revoke letters to Payday OK and Payday Select. Their response was to extend my deadline for 5 days and I panicked and did not go through with the account closure. If they have the same response...should I ignore it and wait for the debits to go to the closed account or should I handle it another way?

Would it be wise, in the letters, to challenge the legality of the loans, when I'm not sure if they are or not? I have a feeling they are legal.. maybe because that would be just my luck.

Thanks for all the help and thanks VolleyBall Mom, will chcck that out too

Posted: Sat Sep 29, 2007 6:32 pm Subject:

Ummm...ok. Lots of questions here and I can certianly help Smile

1-Would you like a form letter that many of us have used?? I can PM it to you...just say the word.

2-I am checking right now on your PDL's....hold please. be right back.

Posted: Sat Sep 29, 2007 6:38 pm Subject:

None of them have a license except for Check City....

Have you only paid one roll over fee on each of these?

When are planning on going to the bank? You should go asap, and ensure there is a hard debit block as well as the closure of the account to ensure it will not "reopen" when the pdl debits hit.

Based on your laws, they cannot extend past 60day term period...has it been 60 days or longer?

Posted: Sat Sep 29, 2007 6:47 pm Subject:

I've paid countless rollovers and have renewed them several times. I will try tomorrow to calculate exactly how much. Yes, I would really appreciate it if you could PM me the sample letters.

I do not have enough time to stop it before my next payday, which is Wednesday. I will have one insurance payment that I have to wait to clear, it should post by 10/4. So 10/5 at the earliest or Monday, 10/8 which will give me 9 days before my next payday.

Posted: Sat Sep 29, 2007 6:53 pm Subject:

Hi...I will PM you the letter in a few mins. Just PM me back and let me know you got it.

Well hey, you will have your whole paycheck back soon enough!! Smile

I am now on my 3rd full paycheck since my pdl issue and let me tell you...its awesome!

The challenge here is going to be that NV laws have no limit on the apr or Finance fees, BUT if they have extended the loan for longer than 60-days, That is your leverage.

Please let me know if you have any issues with the bank...I can give advice on that too.

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