Arrowhead - S. Williams
Date: Sun, 12/31/2006 - 17:01
my loan was for 250.00, I paid 400. so far -
I am in Penna. - how do I get her off my back - how much more can they get from me
Hi, and welcome to the forum :D Arrowhead should have never gav
Hi, and welcome to the forum :D Arrowhead should have never gave you a loan in the first place b/c they are prohibited in PA.
Quote:
Pennsylvania State Information Legal Status: Prohibited |
sjy - here's the state law for Pennsylvania regarding payday
sjy -
here's the state law for Pennsylvania regarding payday loans:
Legal Status: Prohibited
Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq.
Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year
Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg, PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser
Since payday loans are prohibited in Pennsylvania, you have already satisfied your principal balance and the allowable interest rate. You need to stop them from debiting your bank account and write them a letter demanding to be marked paid in full.
Close your bank account if necessary, to get them to stop debiting your account - if you block their debit, they will just try to debit under another name. Re-open another account and don't give the account info out to anyone.
File a complaint with your state's Attorney General, and send a copy of the complaint with your letter to this payday lender demanding to be marked paid in full.
sjy - if you need assistance with the letter demanding your
sjy -
if you need assistance with the letter demanding your account be marked paid in full, or with other issues related to payday lenders, please post them. We are here to help!
Don't let any of their threats scare you. What does she look lik
Don't let any of their threats scare you. What does she look like trying to force any kind of legal matter when she should have never loaned to you in the first place :evil:
PA's pdl law is tricky. If the pdl is licensed in the state whic
PA's pdl law is tricky. If the pdl is licensed in the state which they loan, they can loan to a PA consumer. However, the should follow your state's interest laws. I would say you satisfied this loan and file your complaints, block them from your account and send them a letter demanding they mark your account paid in full.
amount paid
how do you know if you overpaid on the payday loans
does the law for Penna. mean that they can only
charge me 9.50 per 100.00
and should I send her and that Regulatory Contact
person both a letter stating that I should be marked
paid in full.
I am so embarrased - I am overdrawn on my bank account and she keeps calling me.
sometimes I cannot even sleep at night.
Steelers-- Maybe you should work for the AG's office b/c you
Steelers--
Maybe you should work for the AG's office b/c you understand the laws alot better than I do and we're both in Ohio.
amount paid
how do you know if you overpaid on the payday loans
does the law for Penna. mean that they can only
charge me 9.50 per 100.00
and should I send her and that Regulatory Contact
person both a letter stating that I should be marked
paid in full.
I am so embarrased - I am overdrawn on my bank account and she keeps calling me.
sometimes I cannot even sleep at night.
Don't let this person intimidate you! Don't answer the phone or
Don't let this person intimidate you! Don't answer the phone or let voice mail/answer machine get it. Or if it is her when you answer, say you aren't there. Don't talk to her until you are ready and you have all your information in front of you.
sjy - Per your information, the original loan was for $250.
sjy -
Per your information, the original loan was for $250. Pennsylvania state law states you can only be charged $9.50 per $100 loaned, which means you could only be charged $23.75 total.
You have overpaid them.
Please don't feel embarrassed about this. Many of us have been in your shoes, and worse. We have dealt with these companies and won, based on our own state law. We do nothing illegal - we pay back what is owed on the principal, plus the interest allowed by our states. We do the right thing based on what is allowed by law.
Arrowhead
Thank you - cause I can tell you - she is very
intimidating. At this point if I overpaid I don't
even care - I just want her to accept what I paid
and leave me alone, cause I guess from reading some of
these - my loan was for 250 and they got 400 - so that is like a 150.00 over the amount of the loan, I
think they made out o.k.
sjy - I almost forgot...it's already been said but it bears
sjy -
I almost forgot...it's already been said but it bears repeating - close that bank account ASAP - they will continue to debit your account and bleed you dry. No point going further in debt than you already are with NSF charges. Talk to your bank manager and tell them what has happened. Hopefully they will be willing to work with you in closing your account.
Arrowhead
Thank you - cause I can tell you - she is very
intimidating. At this point if I overpaid I don't
even care - I just want her to accept what I paid
and leave me alone, cause I guess from reading some of
these - my loan was for 250 and they got 400 - so that is like a 150.00 over the amount of the loan, I
think they made out o.k.
sjy - they DEFINITELY made out ok on your loan! Don't let them
sjy - they DEFINITELY made out ok on your loan! Don't let them intimidate you - get strong right back with them - when she raises her voice to you, try not to get upset or fearful of what she can do to you. She cannot do anything to you. She may threaten to have you arrested, put you in jail, say she's sending the police to pick you up in 5 minutes, say she'll call your employer, your payroll department, your relatives, your friends....she can do you NO HARM whatsoever.
When she threatens to call the police or have you charged with fraud, tell her you have already talked to the police and found out that she can't do that - in fact, tell her, the police told you that SHE is the one in the wrong, and that you will be filing a complaint with your state's Attorney General and the Better Business Bureau. Make sure you throw in the part about overpaying them according to your state law. I'll bet she'll hang up pretty quickly. And if she calls back, keep repeating the above - over and over. Eventually, she will realize you are not worth the trouble and will stop calling. :-)
Arrowhead
Thank you all - wow - so I should have only paid
23.75 over the original amount of the loan. well
then they got more then enough money from me.
Well being I am in Penna., what state is Arrowhead in
so if she says I should go by her state laws, I want to make sure what I should have paid according to the
state law that Arrowhead is in and also have any of you dealt directly with this S. Williams lady
Find out what state she is in, and make sure they are licensed i
Find out what state she is in, and make sure they are licensed in that state. I have found with a few of the ipdls I was dealing with they weren't even licensed to lend in the state they worked out of.
Arrowhead Investments address is: Arrowhead Investments, Inc.
Arrowhead Investments address is:
Arrowhead Investments, Inc.
32 West 200 South, Suite 350
Salt Lake City, UT 84101
Phone (866)-355-7308
Fax (866)-379-7667
Utah's Payday Law is:
Legal Status: Legal (Applies to check cashers only)
Citation:
Utah Code Ann. ???? 7-23-01 et seq.
Loan Terms:
Maximum Loan Amount: No Limit
Loan Term: May not exceed 12 weeks
Maximum Finance Rate and Fees: No usury limit
Finance Charge for 14-day $100 loan: No Limit
apr for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: No limit
Rollovers Permitted: Not Specified (cannot extend or renew loan more than 12 weeks from original loan date)
Cooling-off Period: None
Repayment Plan:
Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Utah Department of Financial Institutions
Address: 324 South State Street, Suite 201 Salt Lake City, UT 84111
Phone: (801) 538-8830
Fax: (801) 538-8894
I will check and see if they are licensed in Utah and get back to you shortly.
Arrowhead is licensed in Utah. I would recommend the followin
Arrowhead is licensed in Utah.
I would recommend the following. Please forgive me if some of this is repetitious, but I want to be sure you have all the steps.
-Close your bank account immediately. Talk with the bank manager and advise them of the unauthorized debits from this company, and let them know you are filing complaints with the BBB and your state's AG.
-File complaints with the BBB and your state's AG or Regulator. Your state's regulator info is listed in the state law for PA that I posted above.
-Keep copies of all correspondence on your complaints and all e-mails you might receive from Arrowhead from here on out. Print out copies of e-mails you may already have from Arrowhead.
-Mark down the dates, times, durations and who you talk to from Arrowhead with every phone call. Document how many times they call you in one day. This should all be reported as part of your complaint to your state AG & the BBB.
Keep us posted and let us know if you have any other questions. Best wishes!
Arrowhead
I will try and find my papers on Arrowhead, but I think she is from a collection company. Because one time I told her I wanted to speak to the manager and
she gave me the impression that she works for a collection company - cause she said something about have like 80 different payday loan companies she works for.
sjy - I posted both laws for you on this thread - PA and Utah.
sjy - I posted both laws for you on this thread - PA and Utah.
And Steelers, I agree with you - Utah's PDL law almost looks geared to benefit the lender, not the consumer. It offers almost no protection at all.
Go by PA's laws, these companies are to follow the state's inter
Go by PA's laws, these companies are to follow the state's interest rate laws. And if you go by Utah it states that there is no limit in the interest they can charge. That is awful. You have paid them back and then some. Stick to your demand of being marked paid in full and still file your complaints.
sjy - I would not pay according to Utah's law - you'll never sto
sjy - I would not pay according to Utah's law - you'll never stop paying, from what that law says. It allows for unlimited interest. Contact your state's regulator immediately on Tuesday.
No, according to PA. Which you have paid back more than the lega
No, according to PA. Which you have paid back more than the legal amount according to PA.
Arrowhead
O.K. - thank you again, I will re-read these later,
my husband had surgery on his foor the other day and I need to go help him get up.
Man, I can tell you this much my mortgage company and
car loan people did not give me as much trouble as
she is. and I should figure that my mortgage and car
are more important the this.
But I will do as all of you say and send out information to her and the Regulatory person for Penna.
Happy New Year
I know that this coming year has to be better then this past year. Man - am I glad this year is almost over - Start New and keep track of my finances.
sjy - You are very correct- your mortgage is definitely way m
sjy -
You are very correct- your mortgage is definitely way more important than any payday loan.
Why don't you register with this site - you will receive a free phone consultation with a debt counselor when you sign up, which might be helpful with other debts, if you decide to use their services.
And we love to have new members!
Arrowhead General Manager
Arrowhead Investments is willing to work with anyone willing to contact us and settle their account. Please call 866-355-7308 for ANY ASSISTANCE you need.
Thank you
Arrowhead Investments 866-355-7308
If the debt is not settled by the companies loan terms and payment is stopped, unathorized, closed account etc. and no notice is given to the company 3 days prior to a scheduled due date then the debt is SOLD to 3rd party collections. To avoid this CONTACT THE COMPANY beforehand to settle things. Be patient and considerate and a manager will be willing to assist you.
Thank you
GM
CONTACT THE COMPANY
Arrowhead's phone number is 866-355-7308. If you contact the company prior to closing acct, unauthorizing, payment stopped etc. the company will be able to assist you with settlements and corrections.
Thank you
General Manager-- Why do you send most defaulted accounts to
General Manager--
Why do you send most defaulted accounts to Bass & Associates? This company has violated the fdcpa so many times. They need to be shut down :evil: