Overpaid on PDL? What to do?

I can see you are in the same boat I am. Trying to stay above water financially but keep adding to the fire. The only advise I can give is to try consoldating these loans or settling with them. You have paid way to much on 1 and 4. I am searching as we speak for a Debt Mgmt co. If I find a good one, I will let you know. Kindest regards...

Hi,
I also owe GFSIL the same amount of 775.00, but are going to settle for 500.00. I was told to let the loans go into collections, so it would stop the finance charge, but they are still charging me although they know I no longer use the account.If I ever get out of this mess I promise I would never do pay day loans again.

Check out the laws in Florida

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

You should be able to get your refund from the company who have charged additional amount on your loan. Do anything to get your money back and the PIF letter from the company. If they are not easy to deal with, report the following places

OTS (Office of Thrift Supervision),

FTC (Federal Trade Commission),

OCC (Office of Controller Currency),

And the Attorney General's office.

Someone gave me that information. And if i am understanding it correctly I should have only paid $15 per every hundred. As we can see that is not the case. I am just unsure as the route to go in order to get the overpayment back.

That is correct first thing, go to your bank and block the ACH debit from the pdl company, then send the a letter notifying the hat you have revoke their ach, include in the letter the Florida law, figure out how much you overpaid them and ask for the refund. Make sure you send the complaint to the Fla. Attorney Generals, Office, the Attorney General from the State where the pdl is, file a complaint with BBB you can get the complaint form from the internet. Also make sure that when you revoke the debit that you put down all the aliases they have, you can get that info from this forum, the same with sample letters. I do not recall the link where you can get the sample letters I'll try to find it and give it to you but I am sure someone else will do it. I am new to the forum but they sure are nice people and with a lot of information that would help you deal with pdls.

thanks, I am new here too and trying to get an understanding.

misschinaeyes - be aware that blocking the ACH from these companies may NOT stop them from debiting your bank account.

The internet-based companies are very fond of changing their name and debiting your account under a different name, or splitting the amount they're trying to pull out of your account and pulling it out under two different amounts, in order to get around the ACH block, which will only allow you to specify the name of the company and a single, specific amount.

I know it may not sound like something you want to do, but many people have had to close their bank accounts and open another in order to regain control of their money. With the number of payday loans you have open, it would definitely be worth it to you to close that account and open another. Go to your bank, and sit down with the branch or account manager. Put pride aside and explain the situation you're in, and see if they will close your account and open a new one for you.

thanks for the advice suebee, I have a few things out that i am waiting to clear and then i will be closing the account. I wrote a letter today demanding the additional money i paid to be refunded to me. if i did the math correctly, i over paid a lot. i guess it will be a wait and see process. God really knows that it is needed in my account. Thanks to everyone for this advice. keep it coming as i will not turn it down!

Not a problem, misschinaeyes - I just didn't want to see you try to block them and then have them come right back under another name or a different dollar amount and take the money anyway. Then you're out the money they took AND the fee it cost you to block the ACH!

suebee,
have you ever had success with getting a refund, or are you one of those truly blessed person in which didnt over pay?

You will also want to send a revocation letter for voluntary wage assignment, just in case this is written in their agreements somewhere. I had pdls threaten to do just that, pull from my wages. Pennsylvania does not allow it, however, it was a voluntary thing, so they would have. There are sample letters for this very thing here. Google it and get these out as soon as possible to take that threat away immediately. once they see you know your stuff they may deal with you a little more seriously. Goodluck.

misschinaeyes - I did overpay on Rt. 66, but I was definitely one of the fortunate ones in the fact that I didn't have a large number of loans and was able to work my way out of it fairly easily. Rt. 66 gave me some trouble and tried to charge me more than double the loan amount, after I had already paid the loan and most of the interest allowed by my state. I owed them a grand total of about $23 - I offered to pay it, but they kept demanding over $200 more. Then they wanted me to pay all the ACH Fees they said they paid because I closed my account and they kept trying to debit it. I asked them, "what part of 'account closed' do you not understand?"

They haven't bothered me since early November of last year - I think they figured I wasn't worth the hassle. :D