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 Posted: Wed Jan 03, 2007 1:40 pm Subject: PDL Nightmare - Need Advice |
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I took out 4 PDLs a few months back and have been paying them steadily for around 4 months now, over and above the principal, yada yada...
I had no idea about state laws regarding these companies and thought the $90-100 I was paying in fees every two weeks on these loans was my high price to pay for having no credit and expensive tastes.
Well on 12/11, my checkbook was stolen and in the nightmare that has followed, OneClickCash and USFastCash have sent paper checks through my account for over $880, nevermind the $200 and $250 I have sent them via money order paying off my loans.
I filed a Counterfeit Check Affidavit with my bank and it can take them up to two weeks to come back with a response. I have paid these people more than I borrowed almost 10 times over and now they have done this!
What if my bank does not reverse the transaction?
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MrsGirly78
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Debtcc Points: 100
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| Posted: Wed Jan 03, 2007 1:45 pm Subject: |
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MrsGirly78, welcome to the site. What state do you live in? Is it possible for you to open a new checking account.
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bdouble
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| Posted: Wed Jan 03, 2007 1:45 pm Subject: |
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I am really sorry about all you are going through with these companies.
Have you also asked your bank to put a freeze on your account to stop any further payments going through? I would request this or ask about closing this account and opening a new one, especially if you have direct deposit.
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dbaker6
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| Posted: Wed Jan 03, 2007 1:53 pm Subject: |
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I'd have thought that if your checkbook was stolen, and it was reported to the bank, that they wouldn't have let any other checks go though. That's irresponsible on their part.
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goudah2424
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| Posted: Wed Jan 03, 2007 1:57 pm Subject: |
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First you said,
| Quote: | | I had no idea about state laws regarding these companies and thought the $90-100 I was paying in fees every two weeks on these loans was my high price to pay for having no credit and expensive tastes. |
Then you said,
| Quote: | | I have paid these people more than I borrowed almost 10 times over and now they have done this! |
How do you confirm this?
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mcranberra
Joined: 14 Aug 2006
Posts: 527
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| Posted: Wed Jan 03, 2007 1:58 pm Subject: |
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That's true, Goudah. I lost a checkbook once. They immediately stopped all payments, even checks I had written, meaning I had to contact people I had written checks to and explain the situation.
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dbaker6
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| Posted: Wed Jan 03, 2007 5:20 pm Subject: loan |
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Go to www.paydayloaninfo.org and look up your state laws on payday loans. Pay back the principal and what your state allows in interest. Also check with the secretary of states website to see if they are licensed in your state. Best Wishes KYSIDE38
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KYSIDE38
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| Posted: Wed Jan 03, 2007 8:51 pm Subject: |
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As much as we like to believe that banks do what they are suppose to, most of them do not. Some banks will not close your account until all the checks that you have written have come in but then they don't know what's your check and what a stolen check. Banks can make your life hell.
You have done the right thing by contacting your bank and cancelling these checks. You also have to close your account.
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Alexandra
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