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Posted: Mon Jan 28, 2008 3:57 pm Subject: Need help

My husband took out a couple of payday loans behind my back and they took the money out of our bank account so i went to the bank and had the bank return the amounts because i did not know about the loans and figured they were unauthorized charges.
later do i finally find out that he took out these 2 loans and they are emailing him saying they are going to report him to the f.b.i. if the amounts are not paid immediately.
there is no way we can afford to pay the amounts that they want.
what can i do about this. I am scared to death he is going to get in trouble or i am going to cause i thought they were unauthorized charges.
PLEASE HELP.

Posted: Mon Jan 28, 2008 4:55 pm Subject:

Angel, First, I am going to ask a Moderator to move this to the Pay Day Loan fourm becuase you will get many more responses there....next, please list what state you are in, which companies he borrowed from, how much he borrowed from each and the total of how much you have paid back to each. Once we have this information, we can begin to help you.

Posted: Mon Jan 28, 2008 6:29 pm Subject:

I moved it for you!! This way you'll get the help you need!

Thanks for letting me know Roxy! Very Happy

Angel Merrell · Posted: Mon Jan 28, 2008 9:23 pm Subject:

Illinois Sorry I didnt know how to move it

Posted: Mon Jan 28, 2008 10:29 pm Subject:

Angel, like Roxy asked, provide us with the following info and someone will be able to give you more assistance.
Internet or store front loans
Name of loan companies
Amount borrowed
Amount paid back.

angel merrell · Posted: Mon Jan 28, 2008 11:54 pm Subject:

oh sorry

internet
names: paydaymax.com and mycashnow.com
amount 300 each
none paid back yet cause i just found out about them and the amounts they did take out of our account i had the bank return them.
i want to pay something but there is no way i can pay the interest they are saying needs to be paid all at once

Posted: Tue Jan 29, 2008 6:03 am Subject:

Ok calm down. No one is going to put you guys in jaol. Here are the laws for your state. Is your bank account closed? If not, these people will just go back in and take it all.

Angel Merrell · Posted: Tue Jan 29, 2008 6:32 am Subject:

Thank you so much for responding to me.
So will it be fine for me to just send them what I can so at least we are sending them something.
Is there anything else I shoud do?

Posted: Tue Jan 29, 2008 6:44 am Subject:

I dont think you can just send them what you can. Aren't they debiting your checking account?

Posted: Tue Jan 29, 2008 12:03 pm Subject:

Angel, take a deep breath and take one thing at a time. First, Kash is correct, these Paydayloan scum will go back into your bank account.Pleae do not try to negotiate with them until your account is closed and cannot be forced open. See the info at the top of the page about closing bank account. Once your account is taken care of you can email and snail mail a letter to the pdls revoking their ability to take ach payments. There are several people here with great letters to send out. ALso, your husband may have signed a wage assignment with one or both of the pdls. He will need to send a letter revoking the authority to wage assignement to the PDL and he will also need to notify his employer. Then, after all that is done you can talk to the pdls about a payment plan to pay at least the amount borrowed. You can tell them how you want to pay them, ie money order. Do not give them bank account info ever again. Hope this helps.

angel merrell · Posted: Tue Jan 29, 2008 1:51 pm Subject:

yes i did in fact close the bank account after the 2nd time i thought they were unauthorized charges cause i did not know about them. Not sure what Star is talking about a wage assignment. He doesnt work at the same comany he did when he got these so I dont know if that means anything or not. Can anyone out there send me a letter I can send them for this matter and how do I find out the email and snail mail addresses for paydaymax.com and mycashnow.com?
I really do appreciate everyones help. Last night was the first night I got sleep cause I was not worrying about this non stop so thank you to everyone who has been willing to help me.

Guest · Posted: Tue Jan 29, 2008 2:19 pm Subject:

Hi Angel, that is good that your bank account is closed and hubby has a new job. The wage assignment is something voluntary that everyone signs off on when they get a payday loan. Some of the folks here have had the pdls actually send the wage assignment to their employers. At least one person's employer believed it legal and was going to send the pdl money from the persons check. Doesnt sound like this is going to happen here since they do not know your husbands employer. SOmeone will be along with letters for you to send and addressess for the 2 pdls. If you have time you can do a search of both of them in the search box at the top of this page, you will probably find the address, phone, fax numbers by doing that. I am glad you were able to sleep. THese things can be so stressful. We have all been there and understand and we are here for you.