I am so overdrawn right now

Andrea -

If you can provide us a little more info, we can give you some suggestions to help you out.

What state are you in? The laws on payday lending vary from state to state. In some states, they are illegal.

From the info you provided above, it looks like you haven't paid the principal balance on the loans yet. You need to find out what the laws are for your state (go to paydayloaninfo.org and click on "state information" and then your state for the applicable laws), and then pay the principal balance, plus any allowed interest. If you are having difficulty doing this, see if you can work out a different payment arrangement with the companies you're dealing with.

What state are you in?

I am in Rhode Island. I looked at the paydayloaninfo.org, but it said for my state that it applied only to check cashing places.

I beleive RI is another state that allows payday loan places located in other states to lend to RI consumers under the other states license . . . . I will check on that to make sure . . . .

I just read that in RI they have a bill going right now to do away with the current laws and make it EASIER to get a payday loan! You need to contact your states AG office and banking dept and complain!!!!

That doesn't surprise me. Rhode Island is a crappy state.

This is my post. I just registered. I just need to get these taken care of. I am falling behind on other bills not to mention that I just want my life back. I rent from my parents, but they are not rich and I need to pay them and since they have helped me before I don't want to have to tell them that I was stupid once again.

I understand your situation with your parents . . . . You need to get your bank account closed so that you can pay these companies on your terms. Call them up and try to get them to work out some affordable payment plan with you. It's worth a try!

Would it be worth it to change the account number? I really can't close the account because I have some payment arrangements on the account I want to keep.

The internet payday loans won't stop debiting the account . . . . The only way to make sure they don't get into your account is to close it or see if your bank will block all ach transactions.

Could you switch whatever payments you are making to another account?

I emailed my bank this morning about blocking the ach debits. I won't be able to do anything this round because it's Friday that everything hits and I have direct deposit and since the account is overdrawn I need to get that cleared up too.

Well my bank is blocking the ach debits for me and I have tried to open a new account with my bank not sure if they will let me since my current account is overdrawn but we will see.

It may be a good idea to open an account at another bank . . . . Sometimes banks will allow companies to debit with a social security number . . . .

They said the stop is good for 6 months. By then I will have contacted the companies and will work out arrangements where I send them money no more touching my account. I like my bank so I really don't want to switch

Is the stop for a specific company? If so, these pdl's have many names and will just debit under a different dba.

From experience, many here can tell you that stop payments don't always work. If it's an all ach transaction block you have, that should work at first. The pdl's will also try to send a paper check through once they realize they are blocked. That is why it's best to close the account.

Also, if you do close the account, be sure to ask your bank what their policy is on ach transactions going through once an account is closed. Some banks will force open a closed account and send the transaction through. If your bank does this you need to make sure there are safeguards in place to stop this from happening.

I already opened the new account so I am just waiting for the paperwork and for it to appear online and then I will close the old one and switch over my direct deposit.

Sounds good! I would also suggest asking your bank what their policy is on ach transactions on closed accounts. It really sucks to think your account is closed, then find out you know owe the bank hundreds of dollars! The pdl's may not be legit debts, but the bank sure is! And you get reported to chexsystems, and on and on and on . . . . Just take my word, it really sucks!

I will do that once I have notice the new account is open and I get ready to move over everything. Thanks so much

No problem . . . Just be sure that you don't give the new account info out to anyone that shouldn't get it.

United Cash Loans will not stop debiting your account. It has been two months almost since my account has been closed and they know this. I just spoke to them today and they basically said that they dont care if it is closed, that they are going to keep sending checks through and then they will come back and I owe them more fees.They said that is "normal collection activity." Sounds to me like a way to just rack up more fees.

I won't be giving it to ANYONE. That is terrible that they just keep charging it. I'll send them money and see what happens.

Does anyone have an address for Quick Cash Direct. I am going to call Town & Country tomorrow and I want to have all the info I need ready. Thanks

Open an account at a different bank. They can start drawing on the new account if at the same bank. Unfortunately, "preapproved" debits aren't covered by the Electronic Funds Transfer Act. I'm preparing to sue my former bank over a paypal debit I didn't authorize, under the EFT. I saw that an attorney is suing the same bank for the same thing. The bank did no investigation. You really can't trust banks.

I put stop payments on everything and they came through for different amounts. So I went from overdrawn to overdrawn. I have emailed the bank to see if I can them reversed. If I can I will withdraw the money and close the account. Then figure out my options from them. I tried to open an account at another bank while back but was denied so I don't have too many options.

I talked to the bank this morning. They suggested turning my account into a credit only account so that all that happens is obvioulsy credit. I will be doing that at lunch. I am planning on going to a locak credit union tomorrow and opening a new account. I was looking inot Town & Country to help consolidate, are they good to work with? Thanks

Look at the list here I've done months of research into banks and what they use to verify new accounts (chexsystems, telecheck, credit reports, etc). You should be able to find an account on the list, and if not, please PM me and I will look even further and find you one.

Usually banks will put a hold on your account to any debits unless you are physically at their branch withdrawing money. I'm sure that varies from bank to bank, but that's the way mine works.

May also want to ask them what their policy is on the length of overdrawn accounts. With mine, if it's overdrawn more than 30 days they close it and send it to collections and it's next to impossible to open up a new one at a different bank.

They are returning everything that came in and waiving the fees for me. So my account will be in the black once again. I am then goign to open the new account and change over my direct deposit and close the old once I know it had changed over.

dtownmike - It is not next to impossible to open a new account. If you look at the list here you will find a ton of banks that will still open an account for a person on chexsystems, or that doesn't even use chexsystems.

The list is updated with info for RI - Sorry, I guess I missed that state.

Here's the info:

RHODE ISLAND
-----------------------------------

Westerly Credit Union
westerlyccu.com

Email:
We can open a share savings account for you but it is case by case if we are able to open a checking account for you.
Thanks for your email
Marie
Member Service

Special Note:
Anyone can get a SAVINGS account, if your chex is paid and no fraud is reported, you may be able to get a checking.

Membership:
Membership is open to residents of the State of Rhode Island
----------------------------------------

BANK RI
bankri.com

Email:
BankRI has opened accounts in the past that are listed on ChexSystems. It depends on the situation. What I would recommend is that you go into a BankRI branch or try to open an account online. If you like to try to open an account online please visit BankRI's website. The website address is bankri.com. Once your on the website please select personal banking on the left hand side. Once you select personal banking please select personal checking. Then you would select open an account. If you prefer to try to open the account at a branch and have any questions about where BankRI branch locations are please call Customer Support at 401-477-1000 or 1-866-4BANKRI.

Thank you for considering BankRI!

Sincerely,
Sherry L. Rhodes
Customer Support

Special Note:

It has been reported that they will open an accout if your chex is paid and there is no fraud.

Locations: see web site
-------------------------------------------------

RHODE ISLAND CREDIT UNION
ricreditunion.org

Membership:

Membership is open to anyone who lives or works in Rhode Island.

Special Note:

Uses chexsystems but as long as it is paid in full and does not show fraud then you can get an account

Email:

Yes as long as it is paid in full.
Debra 553-2270

Location:
Main Office 160 Francis Street Providence, RI 02903 Branch Manager - Melissa Edwards

Cranston Branch 570 Pontiac Avenue Cranston, RI 02910 Branch Manager - Tami A. Jackvony
Bristol Branch
390 Metacom Avenue Bristol, RI 02809 Branch Manager - Kristen Broderick
Pascoag Branch
60 North Main Street Pascoag, RI 02859 Branch Manager - JoAnna Zackarian
URI Branch
URI Memorial Union Kingston, RI 02881 Branch Manager - Nancy Seale
-----------------------------------------
Anchor Federal Credit Union
anchorfederal.org

Special Note:

If eligible for membership, you can get a savings account but not a checking if on chexsystems

Email:

You can have a savings account, but not a checking account or ATM card.
Denise Lorden-Lundin

Membership:
Persons who live, work, worship or attend school in and businesses and other legal entities located in:
o Coventry
o Cranston
o East Greenwich
o Providence
o North Kingstown
o South Kingstown
o Warwick
o West Greenwich
o West Warwick
Locations: see web site

Also, if you go to this post there are a few banks that are open to anyone regardless of location.

We are an easy state to forget. I just emailed a credit union not too far from me Columbus Credit Union they are in the same group with Anchor but they are closer to me so I will see how that goes.

Is your chex report paid? Do you know what it says it's for? Some banks report nsf as account abuse . . . .

I have no clue I wouldn't even know how to look at it. I had one check which I took care of so I have no outstanding checks.

Then if you do have a chexsystems report it should show as paid. You may have just had a telecheck report, that's a reporting agency for bounced checks. But once the check is paid the item is supposed to be removed from Telecheck. Chexsystems is different, the item is not removed until 5 years, or unless the reporting bank requests to remove it.

You can order a copy of your chexsystems report. I beleive you have to pay for it, unless you've been denied an account because of it. In that case the bank should give you a form to send in.

I just called Town & Country, the payments to them will be a heck of alot smaller then I thought. So I will go with them to get this cleared up. As far as the chexsystems I never heard back from the bank I will give them a call. I just want to get this mess behind me. Thanks so much for all your help!

Keep us updated on how things are going . . . . .

I will thanks again.

Hang in there - I have been working with the same situation. Fortunately my bank has been a huge help in getting the ACH's stopped. Of course now they are calling me every 10-15 minutes on my cell phone. But I don't have to answer that do I? Good Luck to you!!