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 Posted: Wed Nov 14, 2007 11:58 am Subject: Need help in VA
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I was almost at my wit's end before I stumbled upon this site. Looking over the threads I am receiving a lot of encouragement that I can get out of this. This is my problem:
Regardless of the start, I have been abusing pdl's for about 10-11 months and am fed up with it. I have vowed to not take any more out but I want to know how/if I can stop the current loans. I have 5 outstanding pdl's through:
WebPayDay.com ($400 loan, $762.5 paid)
UnitedCashLoan.com ($300 loan, $925 paid)
Ameriloan ($300 loan, $645 paid)
I think CashBorrowers (it processes as an ACH from EDESC, which is how I found this site) ($500 loan, $1535 paid)
and B.I.G. Limited ($200 loan, $545 paid)
All of them are online. I live in Virginia and see on the link from one of the stickies that renewals and extensions are illegal. Any information on what I can do to get this to stop would be appreciated. They have their money and then some, I want my life back.
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needa2ndchance
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Debtcc Points: 100
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Posted: Wed Nov 14, 2007 12:06 pm Subject:
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Hi there. You have certainly overpaid! You are due some refunds, it looks like. I think that your first step would be to close your checking account and regain control of your money. Then start sending them cease and desist letters and letters asking for PIF and refunds.
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eleroo
Joined: 06 Jun 2007
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
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Posted: Wed Nov 14, 2007 12:21 pm Subject:
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jay-that letter is fine...looks pretty familiar actually  but if someone has overpaid, then the amounts paid should also be spelled out. just my suggestion....
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volleyballmom
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Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24893
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Posted: Wed Nov 14, 2007 12:31 pm Subject:
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yea, someone gave it to me here and so i thought i would share it, but now that i think of it you maybe right, on some of those she should be looking for a refund, just throw that in there some where
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
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Posted: Wed Nov 14, 2007 12:41 pm Subject:
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Looking over the letter it looks like I am asking them where to send money. Since I have already paid them more than my principle, how should I phrase that so they are not expecting a check payment from me. Sorry if I sound stupid in all of this, but I appreciate your help!
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needa2ndchance
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Posted: Wed Nov 14, 2007 12:46 pm Subject:
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I can post the letter here....be right back.
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volleyballmom
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Posted: Wed Nov 14, 2007 12:52 pm Subject:
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Clean copy:
| Quote: | Date
Name and address of the PDL
After doing research on internet payday loan laws in the state of YOUR STATE' S NAME, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the state of YOUR STATE'S NAME in general:
After finding out that your internet payday loans are illegal, your company should actually not issue loans to YOUR STATE residents at all.
I have contacted the YOUR STATE Office of Financial Institutions and the YOUR STATE State Attorney General’s Office regarding your internet payday loans and was informed they are indeed illegal in YOUR STATE and was advised to pay what is due according to principle amount only of the loan.
I have currently paid XXXX DOLLARS on my XXXX DOLLARS loan. The legal amount that could have been charged to my loan is the principal amount of XXX DOLLARS even if your internet pay day loan was legal in YOUR STATES NAME. I have paid XXXX DOLLARS on this loan by your debits of my bank account and only owe XXXX DOLLARS to have this paid in full. I am willing to pay the amount of XXX DOLLARS to pay the principle amount of the loan only, as advised by my Department of Financial Institutions and my state Attorney General's office. <OR> I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan. <OR> I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan and send me a refund of $XXXX.
<OPTIONAL>
I demand a physical address to mail payments to, as you are no longer authorized to debit my bank account.
You must provide me with a physical address to mail my payments. I will not Money Gram or Western Union any payment. If no physical address is provided for me to mail payment to, no payment will be made.
I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my state Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of YOUR STATE.
You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.
I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.
I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, and my state Attorney General's Office.
I expect a response from your company no later than XX DATE, regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.
Please respond by XX DATE, regarding this matter by US Postal mail or by email only.
Your name
CC:
Better Business Bureau
Attorney General
Federal Trade Commission |
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volleyballmom
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Posted: Wed Nov 14, 2007 12:53 pm Subject:
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This also revokes any possible wage assignments and revokes ACH authorization.
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volleyballmom
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Posted: Wed Nov 14, 2007 12:54 pm Subject:
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nice mom 
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jaydanielle1
Joined: 24 Oct 2007
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Posted: Wed Nov 14, 2007 1:00 pm Subject:
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WOW! I can't thank you all enough. I'm doing a site search for addresses right now. Does anyone have the address for Ameriloan or UnitedCashLoan? Thanks again!
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needa2ndchance
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Posted: Wed Nov 14, 2007 1:04 pm Subject:
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ameriloans
2533 N carson st. STE 4976
Carson City, Nevada 89706
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jaydanielle1
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Posted: Wed Nov 14, 2007 1:41 pm Subject:
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How do I file complaints with the FTC and the AG office? In VA what laws do I need to consider before closing my account? Thanks again for all of your help, you guys are life savers!
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needa2ndchance
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Posted: Wed Nov 14, 2007 1:43 pm Subject:
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| Quote: | Before you close your bank account due to payday loans eating away at your paycheck, please read this.
Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.
If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.
It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.
Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches! |
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kashzan
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Posted: Thu Nov 15, 2007 9:13 am Subject:
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I spoke with my bank and when I close my account they will not allow any postings to reopen it. My problem now is that my next payday is next Wednesday, which leaves me tomorrow to notify these crooks to not debit my account. Any advice? Also still looking for answers on how and what to report to the BBB, AG, and FTC. Thanks so much you guys!
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needa2ndchance
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