logo

Debtconsolidationcare.com - the USA consumer forum

help.....pay day loans out of control!

Date: Tue, 09/26/2006 - 12:44

Submitted by hfeather2003
on Tue, 09/26/2006 - 12:44

Posts: 10 Credits: [Donate]

Total Replies: 21


Hi,
I also have become a very scared victim of payday loans.....like so many others, it started out little...$50...$100...now it has spiraled out of control to amounts up to $600....
I currently have outstanding payday loans at the following companies:
ameriloan
United Cash Loans
Route 66
ICS
Xtra Cash
SJM
Cashnet
The only agencies I received renewal paperwork from or any type of documents from is Ameriloan, United Cash Loans and Route 66.
My checking account is now very high in the negative and I am unable to get it out at this time. I have opened a new checking account and cancelled my direct deposits and routed them to my new account. I have called several debt management agencies and they refuse to help me with these outstanding pay day loans.
I live in Ohio, and I don't know where to turn. I am losing sleep, getting tons of phone calls every single day and am so stressed out that I am becoming sick.
How can I help myself out of this situation? I don't even have contact information for any of these places.

Can anyone help?

Heather
Cuyahoga Falls, Ohio


Most of these loan companies are online PDL lenders? Make your hold on them stronger. Check if each of these companies is licensed in your state. Review your state laws for the legal charges. You should be paying only that much allowed by your state. How much have you paid so far on these accounts? I can put the laws of your state here.


lrhall41

Submitted by keystrokes on Tue, 09/26/2006 - 12:59

( Posts: 495 | Credits: )


You were smart to do what you did with changing accts and redirecting your direct deposit. That will allow you to gain back control of your finances. Now YOU NEED TO GO ONLINE AND FILE A COMPLAINT WIT THE AG's OFFICE. Then use the template letters on this site to send out to each of these pdls. I'm from OH and I can tell you NONE of them with the exception of Cash Net (who follow OH pdl laws) are NOT licensed to lend in this state. Send out your letters by e-mail, fax, and USPS. I have had ameriloan and Cash Net (they were paid off, they didn't do any roll overs or charge illegal fees on me). You will get a response from the AGs office, they do contact each pdl about the complaint and then they forward them to the Dept. of Commerce/Financial Institutions Dept. They are actually collecting a file on these internet pdls.


lrhall41

Submitted by WHEREAMI? on Tue, 09/26/2006 - 13:01

( Posts: 5263 | Credits: )


Here's some info on Ohio laws with some contact numbers and names:

Quote:

Ohio State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Ohio Rev. Code Ann. ???????? 1315.35 et seq.

Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus, OH 43215
Phone: (614) 728-8400
Fax:
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance



lrhall41

Submitted by erzeke1 on Tue, 09/26/2006 - 13:04

( Posts: 1145 | Credits: )


Thank you for your replies

All of them are online PDL's.....this is what i have on record as having paid:
ameriloan - loan for $200 - have paid four payments of $60
United - loan for $300 - have paid four payments of $90
SJM Marketing - loan for $200 - have paid four payments of $60
Route 66 - loan for $200 - have paid four payments of $79
CashNet - loan for $350 - have paid four payments of $105
Xtra - loan for $200 - have paid three payments of $60
ICS - loan for $200 - have paid two payments of $89

Now, the last payment that all companies debited went into the negative in my account so I'm not sure if they were technically "paid". I know they are going to try to debit again on Friday for the next set of payments....even though my old checking account is already in the negative....

Can they come after my new checking account?

Where do I find those templates you were referring to?
How do I get ahold of the AG office?

Heather


lrhall41

Submitted by hfeather2003 on Tue, 09/26/2006 - 13:20

( Posts: 10 | Credits: )


Google Ohio Attorney General, then on their site their will be a link to consumer complaints. You will need the name, address, contact info. Give a description of what has happened and your complaint and their will be a section for what resolution you want. On my I stated that the only resolution is to mark the accounts paid in full due to the illegal/excessive fees on my loan. And I added that a refund is in order, and I stated the refund amount. OH pdls can only charge $15/$100 loaned. And none of the ones you have done business with are licensed in OH.


lrhall41

Submitted by WHEREAMI? on Tue, 09/26/2006 - 13:24

( Posts: 5263 | Credits: )


Wow, you guys are helpful....I cannot tell you how much relief hWow, you guys are helpful....I cannot tell you how much relief has just been lifed from my mind.

I know its a long way from over, but I'll make it.

How do I go about finding the correct contact information on these companies since they never sent me paperwork?as just been lifed from my mind.

I know its a long way from over, but I'll make it.

How do I go about finding the correct contact information on these companies since they never sent me paperwork?


lrhall41

Submitted by hfeather2003 on Tue, 09/26/2006 - 13:42

( Posts: 10 | Credits: )


i was notified that i was approved for a200.00 dollar loan. i havent recieved it yet and wandering why


lrhall41

Submitted by on Fri, 10/27/2006 - 13:49

( Posts: | Credits: )


Caroline you would be making a wise decision to cancel the loan. Most internet pdls are not licensed and cause financial hardship for those who use them. Read through the posts and you will see the experiences others have had with them. If you are trying to contact the pdl company regarding your loan, this is a debt forum. Post the name of the company and somebody may be able to help you with contact info.


lrhall41

Submitted by WHEREAMI? on Fri, 10/27/2006 - 13:52

( Posts: 5263 | Credits: )


Need the name of the person to email I believe the voicemail person stated send to dustin(at)platinumbservices.com


lrhall41

Submitted by on Wed, 11/15/2006 - 08:26

( Posts: | Credits: )