Revoking Authorization

I'm glad your bank is working with you. What is the name of the company? I assume this is a company you found on the internet? If it is, chances are they aren't even licensed, which would work to your advantage. What state are you in? Once you provide this information, we can see if they're licensed and go from there.

The company is borrow cash now. I am in Arkansas. Thank you in advance for your help.

I forgot to mention that the initial deposit showed the name of the company as cash by 4. In June it started being debited as del prado holdings.

Have you checked out the laws for your state?? If not, that would be the first thing to do, before paying them anymore.

Yes I have checkedthe law and I have paid over in abundance to them. also in 1999 supreme court ruled that the fees added were and invalid attempt to evade usury laws. this is an adendum to the statute.

Have you filed your complaints with the AGs office yet. If not, I would do that. And if you have been paying and paying this loan and have paid back more than the principal and legal interest rate, demand they mark you paid in full. They all say because of the contract they only have to be licensed in their state and follow their state's pdl laws. That is a lie.

KyJuanaM,

Okay, I checked out this/these company(ies), and none of them show a license for your state, which means you only need to pay the principal. Figure out how much you've paid already in interest and fees, subtract this from the principal, and the balance is what you owe. If you have paid over the principal, they owe you a refund. Send a template PDL letter found in Pollyandsay's blog, inserting your state laws. Regardless of what they say, as Steelers1 said, they are bound by your state's laws because that's where the transaction took place. Stand firm against them. They'll threaten you with check fraud, they may say they're going to arrest you, etc. This is a civil case, not criminal, so you cannot be arrested. They will say anything to try to get you to pay. Stand firm against them. Good luck.

O. K. I have finally added all my loans up and the break down is this:

GECC: I have paid $446 on a $300 loan
E Dollars Direct: $930 on a $200 loan
Paycheck Today: $560 on a $200 loan
Cash Today: $1106 on a $200 loan
Electronic Payment Processing: $810 on a $200 loan
Del Prado: $$1050 on a $300 loan
PD6 Ventures: $270 on a $300loan
Instant cash USA: $360 on a $300 loan
C. O. Inc.: $270 on a $300 loan
for a grand total of $5,802
very sobering once you see it all in print.

With regards to contactig the AG's office should I contact the AG for the state the company is operationg in or should I contact mine and what should I tell them?

Actually, it would be a good idea to contact both. Tell them that these companies do not have a license in your state and have illegally charged you fees beyond the principal amounts and you want the account marked paid in full and refunds of the amounts you overpaid.

I got an e-mail from delprado holdings today: Quote:

Good for you, KyJuanaM!! It's a great feeling, isn't it? Either make a copy of that e-mail or better yet, have them send you something that says account is paid in full. Do you see how they change their tune when they've been caught?

Looking back over your post, that's an awfully lot that you overpaid. I would still go after them for the refund. That's over 3x what the original loan was for. E-mail them every day. Have you contacted your AG yet? If not, do so and also notify this company that you are doing so because you want your refund. Let us know what happens.

Ask your bank to request your signed authorization to debit your account; the bank will give the loan companies 5 days to provide this. If they cannot, your bank will revoke and you stand a good chance of getting back 60 days worth of fees that you have already paid to them at no additional charge to you. Good luck! If you go this route, let us know what success you had. :D

Also, when the others start contacting you, I wouldn't settle for just "Paid in Full" notices. I would demand refunds. That's a lot of money you paid out, and they're not entitled to it. (All except PD6 Ventures and C.O. Inc. - you only owe $30 each to them). Let us know how it goes.