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Hi,
I have been struggling with MANY PD loans for months and could not take it anymore. I went to the bank, hoping that they would help me stop one of the more aggresive ones (Cash Net) from making anymore withdrawals from my account. The bank was GREAT - they changed my account to accept DEPOSITS only and gave me a new account. My questions is: now that I will no longer have ANY PDL deductions taken out, how do I handle the payday lenders? I will contact them and make payment arrangements, but I am not sure of my rights, so I do not know what to negotiate. Can anyone help? I have tried to get the data online, but nothing has really been specific enough. I am in PA and these are all online lenders. One, as I said, is Cash Net (AKA Cash America Net)and I have gathered from what I have read here that they are hard to deal with. They are licensed in PA, but charging me 657% interest annually, when the PA cap is 24%. HOW CAN THEY DO THAT? Thanks in advance!!! Christine

Posted: Wed Mar 14, 2007 11:42 am Subject:

Just bumping up because it got lost in the HUNDRED or so posts asking for his $49.95 back...

Posted: Wed Mar 14, 2007 11:49 am Subject:

Posted: Wed Mar 14, 2007 12:15 pm Subject:

Have you already filed your complaints with the attorney general?

Posted: Wed Mar 14, 2007 12:25 pm Subject:

No - I haven't done that yet. I certainly will, though. ALl I have done so far is to send letters revoking ach withdrawls and wage attachments. I talked to my payroll dept to warn them of the situation. Half the battle for me is over - I was so ashamed and embarrased to have anyone find out about this. Now that my work and bank know about it, I am eager to get it resolved. I am no shrinking violet, and I will have no problem doing what I need to do. I just need to make sure that I KNOW what I am doing.

I am at work at the moment, but I will add more detail to this later this evening.

Thank you so much - I have been feeling like the world's biggest loser and I feel so mch better already just to know that I am not alone!!!

Posted: Wed Mar 14, 2007 12:26 pm Subject:

I asked the Dept of Banking in PA that same question and here was the response:

Posted: Wed Mar 14, 2007 12:27 pm Subject:

Posted: Wed Mar 14, 2007 3:02 pm Subject:

Christine ~ do not feel like you are a loser. We have all felt that way at one time or another, but we are not losers. You just made some mistakes and now you are trying to rectify the problem. You have come to a wonderful place for help, advice, knowledge and encouragement and support. You will walk away from this with your head held high and will be wiser and "educated". You cannot help but learn something from here! Cool

Best of luck to you and hang in there!

Posted: Wed Mar 14, 2007 5:08 pm Subject:

But Goudah does that mean that all the pDL that are not liscensed in yor state can charge what they want because they have lending authority..I thought they had to be liscensed in the state that they are lending for it to be legal..I'm a bit confused

Guest · Posted: Wed Mar 14, 2007 5:39 pm Subject:

Hi again

Here are the PDLs that I have not been able to pay back:

Payday One: Borrowed $500, Paid off $780 REBORROWED $500, paid $120 ao far

Ameriloan: Borrowed $300 Paid so far $360

Epay (? dont even remember this one) Borrowed $250 Paid so far $90

United Cash Borrowed $200 Paid so far $60

Instant cash Borrowed $400 Paid so far $120

Cash American Net Borrowed $750, Paid so far $750

East Side Borrowed $500 Paid $737.50

As mentioned earlier, my bank helped me and froze ALL debits on the old account, so no more ACHs will go through. I sent letters to Cash America Net and East Side saying that I revoke all authorization and that I have been advised by PA Dept of Banking to try to work this out withthem, or I will file formal complaint. East side is MORE than paid in full. I told cash net that the principal is fully paid, and that I would of course pay a FAIR interest fee if they sent it to me in writing.

I emailed all other companies, notifying them that ACH payments will not longer be made, but that I want to work with them to make payments via other means. For Payday One, I also added that I question thier interest and fees, as I have borrowed a total of $1000 and have paid back $900 to date, yet still owe $500.

Should I go ahead and file complaints with the AG on all of these companies? What exactly is my complaint? Have I handled things ok so far?

I know that this is far from over, but I feel so much better knowing that I have more control. They can harrass me all tehy want, but they will not be able to get to my bank account now, and I will be able to pay all my regular bills. I am willing to pay what I owe - IF IT"S FAIR! DO these companies usually work with people in my situation?

Thanks again, all of you!

Posted: Wed Mar 14, 2007 5:48 pm Subject: oops

The above post was from me - Christine. I thought I was logged in!

Posted: Thu Mar 15, 2007 5:06 am Subject:

Sorry to ask another question, but. SInce I still need to pay at the very least teh principal on several of these, should I go to a deb concolidation firm, like T&C? Thanks!

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