What happens if I Default

what state are you in
what companies did you borrow from
how much was each loan originally for
how much money has each company taken from you

If you answer the questions Leah asked we can help point you in the right direction . . . .

I live in SC and would have to do some checking to see how much I've paid local stores are advance america 600.00 beening paying close to a year check max 500.00 paid twice first america 450.00 close to a year internet Geneva roth netcashusa authpayday webpayday paydayselect. I think there is more. Please help

You need to concentrate on the storefronts first. They will most likely be legal and can and will take you to court for not paying. Call them up and tell them your situation and ask them if you can make payment arrangements.

Once you have the storefronts taken care of, then you can worry about the internet loans. Do a search for each company name on this site and you will get an idea of what to expect from each company.

You will find the Payday loan laws for South Carolina here (just select your state),

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

They are only allowed to charge a specific amount of interest, and they aren't allowed to rollover the loan. If they are doing so then they are breaking the laws. Contact your state's banking dept and attorney general's office and file complaints.

You will also need to close your checking account. This is the only sure way of stopping the internet companies from taking money. When you close the account be sure to ask your bank what their policy is on ach transactions going through on closed accounts. Some banks will "force" open a closed account and allow the transaction to go through. If your bank does do this, ask them to put your account on deposit only, as this will prevent anyone from taking money out.

Then you will need to write letters to each of the pdl's. Tell them you revoke authorization for them to debit your bank accounts, and you revoke any and all wage assignments you may have signed. This is very important, as some pdl's hide wage assignment clauses in the contract. This clause allows them to "garnish" your paycheck without a court order. But it is completly voluntary and revokable.

Once you do that you will need to find out how much you legally owe for each loan. Contact you banking dept for help with the calculations. Then if you've paid more then you should, demand that the company marks your loan paid in full, or if you've really overpaid, demand a refund. If you still owe, present a payment plan to them, but never give out new banking info. All payments should be made with money orders or western union type payments.

I know this is a lot of info at once, so feel free to ask any quesitons . . . .

does anyone have a list of addresses for some of these loan companies

Call your bank and stop payment on these. When they contact you offer to work out a payment arrangement, and STAND TOUGH. They love to scare you, and in my way of thinking-I will not be scared by these freaks. Keep very good documentation, and follow through with what you promise to pay. :D

My local loan company debited my checking account twice for NSF without my knowledge or authorization. When I approached them about it, I was shown some obscure flyer on the wall allegingly supporting their actions. This to me is a total "gotcha" because that flyer replaced the '...20.00 charge for all NSF's.' No formal effect was made to introduce this new policy to customers either by phone or mail. What's to say the office employees had posted this as a means to collect their own petty cash from time to time?! I am very upset by this practice and would like feedback from others experiencing this along with suggestions as to what I can do about it. Please send comments to email address removed as per forum rules - Mike. Thanks

Jackee, what exactly did this flyer say? What was the flyer stating? How much were you charged for the NSF's? I don't really trust banks myself but I find it highly unlikely that the employees would just make up a flyer to collect their own petty cash. I have worked for two banks and I can tell you that 99.9% of the people that I worked with had the utmost integrity and banks have very tight security policies etc. that would keep something like that from happening. If you can give us more information you can get opinions from many people here-that is just mine. I am in total agreement with you however that nobody should debit your account without your authorization or permission and you definitely need to take that up first with the loan company and if it was truly unauthorized, then you can file a dispute with your bank.