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steamersnbeer · 03-30-2009, 06:34 PM

I took out 4 internet payday loans about a year ago from CLK Management (Ameriloan, USFast Cash, United Cash Loans, and 500Fast Cash).Â* I'd used these services in the past and had always paid my loans in full, though it was always a struggle as many of you probably already know.Â* But I've had enough.Â* Times are tough and just paying the mortgage and holding down a job is challenging.Â* I've paid these people many times over at ridiculous interest rates.Â* I closed my checking account and began to do some research.Â* I found that internet loans are illegal in Vermont and that CLK claims that an Indian tribe grants these loans so they are not subject to the laws of the US.Â* I am receiving threatening calls.Â* I know they cannot put me in jail and that they do not report to the traditional credit agencies.Â* I know they use fear and intimidation and that working out reasonable settlements with them is next to impossible.Â* I am contemplating just ignoring them.Â* Can they do anything to me?Â* What is the track record of CLK in suing people in other states?Â* Anyone have any Vermont-specific info?Â* I wrote to the banking commisioner who only confirmed that internet PDLs are illegal in our state.Â* No further advice was offered.Â* Not sure what to do at this point.Â* Thanks in advance for any advice.

kscornell · 03-30-2009, 07:48 PM

If the loans are actually illegal in VT, then the only thing you are on the hook for is what you actually received--the loan principal. Nothing more, nothing less. Once you've paid that, then I would tell them to get lost.

Shazzers · 03-30-2009, 07:51 PM

Those are all illegal. CLICK HERE to find out how to deal with illegal lenders.

03-31-2009, 03:02 AM

Thanks for the information. I am going to write them a letter stating that and that I will only deal with them via postal mail, but I don't have a physical mailing address. I think I've seen it in this forum, but don't recall where. Can someone point me in the right direction?

nohiogal · 03-31-2009, 03:11 AM

Ameriloans
2533 N. Carson St.
STE 4976
Carson City, Nevada 89706 
Rio Resources, LLC Aka - US Fast Cash &Â*United Cash LoansÂ*
515 GS E Or 3531 P. Street NW
Miami Oklahoma 74355
800-354-0602 
500FASTCASH
515 GSE
Miami, OK 74354
Telephone: (888) 339-6669 

500Fastcash
2533 N. Carson St.
Carson City, NV 89706
Telephone: 913-648-5858

kfstaff24 · 03-31-2009, 03:34 AM

Sounds like you have done your homework and are right on track.Â* I would also email your letters to them that worked for me.Â* If you do mail your letters do it RRR so you have a record of their receipt.Â* You are only morally obligated to pay the principal amount borrowed.

03-31-2009, 03:37 AM

Thank you very much for your quick response. I am going back through all my old bank statements to figure out what I really do owe them. Will definitely send the letters registered mail. Doing the homework was made easy with all the great information provided here. Many thanks.

kfstaff24 · 03-31-2009, 03:41 AM

We are here to help, thats what makes this such a great community.

08-18-2009, 07:54 AM

Can anyone tell me where you can find this form. I also am looking for a template letter for my PDL to send them to tell them that i am not longer paying them.

08-18-2009, 07:54 AM

Can anyone tell me where you can find this form. I also am looking for a template letter for my PDL to send them to tell them that i am not longer paying them.

09-06-2009, 09:59 AM

I put arevoke on two pdls and sofar no money has been debited nor have I heard from then .I was able to get some of my money back because the bank reversed the debit .Now should I send the Pdl a revoke authorzation letter or let it be

Shazzers · 09-06-2009, 10:46 AM

Internet payday loans are illegal in the state of Vermont. I'm glad that so far these lenders haven't been able to debit your account but there is something you need to keep in mind. When dealing with payday lenders who have ALREADY broken the law by lending to residents of a state where they aren't suppose to; anything goes with them. They WILL change their names and withdrawal as much as they possibly can in the future, AND, they will continue this tactic until they bleed you dry. Therefore, it would be in your best interest to CLOSE that account and open an entirely new one at a different bank. Your account will NEVER be safe again since these lenders have the information. They are ruthless and think they are above the law. CLICK HERE to find out how to deal with illegal lenders, please read it thoroughly and do NOT skip any steps.