Payday loan trouble
Date: Fri, 08/25/2006 - 03:41
Account
Hi Fray....
I am not a moderator or anything,just a person that
try's to help out his fellow man.
You may have to open up a new checking account and
treat the BofA as another bill to pay off. You usu-
ally have 21 days before they shut your account down. When that happens they turn the account over to a clearinghouse preventing you from opening
any accounts until your overdrawn account is satis-fied. It can stay on your credit report for Five years.
On a brighter note maybe Bank of America has a program where as you can set that account aside and
pay it off without damage. Check with them!
Like I stated above,I am not a mod,or even pretend to be one! I didn't even stay at a Holiday Inn Express!
In addition, I am not familiar with the laws of Florida.You might want to call the AG's office,or
the states website for individual consumer laws.
Good Luck!
paday loan trouble
why don't you try freezing the account till you get things straightened out? The only thing that will happen then is they will only except credits - money that is posted into the account nothing else.
Bank of america
I have been dealing with them for 2 days. They will not freeze the account as it is already overdrawn and that is the same reason the are giving me for not closing it as well. The did refund 155 of the overdraft charges but that was it. I have already opened a new bank account with a different bank.
payday loan
Hi Fray, I had the same problem w/ BofA and they will not close your account nor freeze it until you pay the negative balance. Anyway,opening a new account is a good idea. Just pay BofA when you can.
Ok Fray.... That's a start. Do not give the PDL's your new a
Ok Fray....
That's a start. Do not give the PDL's your new account number! Maintain that account and pay off the Bank of America as soon as you are able. They might even set it aside allowing you to do so,especially if they are mostly overdraft fees.
Chicagobabe is giving you some good info!
I did open up a new bank account at a different bank, so I will
I did open up a new bank account at a different bank, so I will take care of B of A just like any other bill. But what am I going to do about the payday people now that I can not close my account they are just going to keep trying to post to the old account, and B of A will let them then return it and charge me more money. I tried emailing the companies and told them of my situation and asked to please make some sort of other arrangement but they have not replied.
You need to speak to someone higher up about freezing your accou
You need to speak to someone higher up about freezing your account.
How much have you paid to the PDL's already? Have you compared this to what is legal charges in your state?
we have only been paying the interest on the PDL's we took them
we have only been paying the interest on the PDL's we took them out in July so they have been rolling over. I am an not sure what the regulations are on Florida.
the original loan amounts where as follows
DATE OF LOAN LENDER AMOUNT PAID
7/05/06 500FastCash 300.00 180.00
7/31/06 ICS 200.00 213.00
7/31/06 Arrowhead Invest 250.00 75.00
8/07/06 Paydayonline 200.00 0.00
since Aug 11/06 when we defaulted on the loans they have tried to post the following
ICS 178.00
500FastCash 210.00
paydayonline 149.90
arrowhead 75.00
As far as freezing the account I really don't know who to talk to
Check out their website and see if they have a management link..
Check out their website and see if they have a management link...Any e-mail address you can find, send a letter...Someone will listen. Be a pain in their neck until you get the result you need.
Do a search in this forum for Florida laws, I know they're around here somewhere....Figure out what is legal in your state...Example, if the max interest charge is 30% of your principal, then the amount due on a $200 loan would be $60...If you've paid $100, than you would owe $160. Offer this as a payoff in a letter, sent certified mail...I also like to fax just to double efforts...Plus you can keep faxing and keep faxing until they respond.
You HAVE to pay the principal back, but you don't have to take their abuse. :) Good luck!