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 Posted: Wed Feb 07, 2007 4:55 pm Subject: Payday loans companies are debiting my account |
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My biggest concern right now are the payday loan companies that are debiting my account. I believe I have four. The exorbitant fees are crippling me. I am perfectly willing to pay the principal I owe but with the interest they are charging it is impossible. So, I closed my account and opened another in the same bank. ( I have to have an account in THAT bank for direct deposit of my pay check)After I read everything on the internet, I am not even sure they are legal.
The companies I owe are"
Magnum Z LLC
ZipCash
DMS Marketing Loan Shop
Apollo Funding
Can you help me?
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bettywright1950
Joined: 07 Feb 2007
Posts: 10
Debtcc Points: 353
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| Posted: Wed Feb 07, 2007 5:07 pm Subject: |
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You will find all the loan companies discussed here. In case, the pdl places get your new bank info, ask the manager to block each company id making the debits. It will also be the right move to check out your state laws. The companies you are dealing with are famous for charging illegal interest rates and fees. You have to read the contract copy very carefully and check if they are violating the laws.
What state are you in? All IPDL companies must be licensed with your state Dept of Corp. You can inquire about the company license and put a complaint if they are not following the laws.
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PassionHunting
Joined: 30 Jun 2006
Posts: 514
Debtcc Points: 3674
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| Posted: Wed Feb 07, 2007 5:09 pm Subject: |
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Betty--
Welcome to the forums  I personally understand what you are going through with the pdl issue. I just want to ask, what state do you live in, and how much were the loans for? How much have you already paid back in fees?
_________________
BROWNSUGAR!!
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brownsugar
Debt Samaritan
Joined: 08 Oct 2006
Posts: 1408
Debtcc Points: 13964
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| Posted: Wed Feb 07, 2007 7:18 pm Subject: |
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Welcoming you to the forums also betty! use this link to lookup pay day loan info for your state. Link here:
http://www.paydayloaninfo.org/
explore it, they have a loan caulator & legal info with links to websites for your state laws, ect. And as was suggested in an upper post, make double sure your bank has those companies blocked from your new accounts. And do not give in to their demands & give any account info....okie dokie?
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texasconsumeractivist
Debt Samaritan
Joined: 23 Jan 2007
Posts: 680
Debtcc Points: 553
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| Posted: Wed Feb 07, 2007 7:20 pm Subject: pdl |
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I wrote this email once but I think it did not send. So here I go again.
My State is Arkansas.
What I owe and what I've paid are"
Zip Cash(original amt $300.00--pd $360
MTE Funding (Original amt$300)--pd $180
Apollo Funding (original amt $250)--pd $150
DMS Funding (original amt $300)--pd $180
Recently borrowed:
Cashnetloans--$350 pd nothing
Magnum Z LLC--pd nothing
I have paid one off-Route 66 Funding
How did I get to this point? With all the debits to my account I was in the position of borrowing more to cover everything. What a mess! The madness has to stop.
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bettywright1950
Joined: 07 Feb 2007
Posts: 10
Debtcc Points: 353
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