Pay1day.com

Does anyone know if Pay1day is illegal in California?
Thanks

Yes, they are illegal in California.

Uh, oh, but on their site it says they are a member of the CFSA - so what does that mean in terms of how much I owe? The prinicple PLUS their fees?

Where did you find that they are members of CFSA? Pay1day is not a member of CFSA.

On the Pay1day.com site, there is a FAQ section that says "What is CFSA and what is it's importance?" They also say you can't revoke ACH Authorizations until after payment in the full amount is received.

But, Pay1day is not listed in the CFSA website. Moreover, the FAQ page that you mentioned doesn't state that pay1day is a member of CFSA. Check out the CFSA website for yourself here: cfsa.net/MemberList.aspx

Ah, potential trickery! Good to know, thanks

You are welcome Dee Lee. These illegal companies try various tricks to make themselves look like the most legal company in the world. Never fall prey to these illegal companies.

Ok, I sent them the email saying they were illegal, blah blah, I wanted to know where to sent the remainder of my principle balance. They wrote back:

THANK FOR CHOOSING SOLOMON FINANCE/PAY1DAY.COM AS YOUR DIRECT LENDER WE RECEIVED YOUR EMAIL AND ON 9/10/10 WE WILL DEBIT THE AMOUNT $48.50 ONLY AND WE WILL CLOSE YOUR ACCOUNT.THANK YOU AND IF YOU HAVE ANY QUESTIONS PLEASE CALL US (88729-1329.

I emailed back:
"I will mail the payment of $48.50 (money order or cashiers check) for Loan ID xxx.
I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers.

Please tell me where to remit payment."

Haven't heard anything back yet, but my bank account will be closed.

I think this is the address of Solomon Finance:

Solomon Finance, Inc.
10 East Doty Street Suite 829
Madison, Wisconsin 53703

But, let them contact you and give you the address. And make sure your account is closed before they try to hit your account on the specified date. Make it sure from your banker.

Great, thanks. I heard back, and they contacted me with that same address. Success! I am closing my account on Monday morning, and the debt was to go through next Friday.

Great news!!!! Do post here when your account is closed.