Payday loan mess

Well I think it will be too late to stop your direct deposit but that would be the first step....But usually it takes 3 days for that to happen...Contact your HR and see if they can help you. And the sad part is, even if you have an exact dollar amount, once the bank denies that dollar amount, they will just resubmit it with a diff dollar amount or put through a paper check. I also recommend opening a new account at a diff bank before your account goes negative...I have not heard good things about Wells Fargo involving this type of situation.

i am starting to see no light at the end of the tunnel

I was in your position at one point too...For months I could not pay my rent or gas and electric or even buy groceries and I have a baby on the way...it will get better but you have to take actions to regain your control over your finances!

I want to take action on this and get it all worked out. i wanna do what is right and pay what i owe. i just want to get it over with. i dont see how i am ever going to get myself out of this mess

WF is the worst bank to deal with, in my opinion. There really isn't much you can do so close to the date. If you had a few more days you could request a paper check and just let the account go bad.

yeah well my direct deposit is going thru tonight at midnight. i put in the paper work to have it applied to my new account i opened but that wont take place till my next payday. i dont know what to do from this point. im lost. im desperate....

If you get to the bank early in the AM you may be able to withdraw with a debit card before the PDL hits. It is worth a try. Or maybe get the bank to put your account on deposit only. Then close it out. Some banks will do this. You must speak only to the branch manager and explain everything in detail.

yeah i am going to try and get there as early as i can that is if my work will let me get off early...i am going to run to the bank...and i mean literally run there and probably start crying to the manager cause thats what i wanna do right now...im scared and tired of feeling this way i hate it

good luck! Everything will work out. You'll see

thank you. i hope so

I hope so too . . . .

im starting to get the feeling some of you guys think its not going to get worked out for me....

I just said it will, not it won't. You have to think positive and go in there with a positive attitude. You will not find discouragment here! Only encouragemnt!

thank you and sorry...just really stressed out

I'm just worried because I got screwed so bad by that bank.

But on the bright side, if it doesn't work out this paycheck, you will have enough time to get protections in place so that every paycheck after this will go directly to you in full! It's just a timing issue this time around and I'm not going to lie to you and say that for sure it will be fine. Things may work out with this paycheck, but they may not.

Do not get discouraged. You will come through this fine!

Been there, done that! I know the feeling. Don't worry. It adds nothing to your life, only takes away.

Brittany - I just sent you a PM . . . . If you look at the upper right hand side of the screen there should be a link that says "You have 1 new message" Click on that and you will be able to read the PM.

i just want it all to go away.

Goudah is the best!

We know how you feel . . . . Most of us have been there. You will be fine! If it's not this week, it will be the next.

Another idea - If the pdl places are able to hit your check tomorrow, you could always try and dispute the charges with your bank. You may be able to recover some of the funds.

All is not lost! You can fight this!

well i called my bank and the guy i talked to said that if they go thru tomorrow then i can always call in tomorrow and set up an investigation on them and if it causes my account to go overdrawn which it will then he said they will credit back my account for any fees. and i said yeah well can you please notate my account that cause i dont wanna call back in tomorrow and have someone say oh no we cant do that i i said well now that you a rep. for wells fargo told me that you have to do it for me. i told him that i work for amex and i know when one rep says something like that and notates the account we have to do whatever the prev rep promised so i just hope that he did notate my account

Good . . . . If you can go down to the bank later still I would do that and get it in writing from them . . . .

When I dealt with them during my pdl mess, I had a super nice CS rep telling me all the things I needed to do to avoid any fees . . . . I followed her advice exactly and ended up with 4 bank accounts frozen, no access to my money for 6 weeks, and reported to chexsystems for account abuse. So I'm just a bit wary of what WF promises . . . . . .

oh i am deff going to get it in writing.

Let us know how it goes! I'm really pulling for you on this one!

thank you so much for the support. i feel better knowing im not the only going thru this and that there will be some kinda light at the end of my 574857348963 mile long tunnel

You are definatly not the only one that is going, or has gone through this!

And hey, there should only be about 10 more miles to go!

:-)i just got in way over my head but im working on it now. i will pay what i owe and then be done with it all!!!!!!!!!! lets get this oh so wonderful raod trip started

I'll ride shotgun!

on the road again, oh i jsut cant wait to be on the road again lol

goudah you said you had wf how did you get out of the payday loan mess with them?

Long story, but eventually they closed my account negative $600, reported me to chexsystems, and froze my good accounts with them and wouldn't allow me to access my money. They sent me a cashier's check from the balance about 6 weeks later.

They were no help at all.

But at least they will finally force close the account once it's been negative for 30 days. You get reported to chexsystems, but that's not the end of the world.

Then you can start dealing with the pdl's . . . . .

So far all the posts have just been about how to deal with your bank . . . . Once that is fixed then there's how to deal with the pdl's . . . . A whole other topic!

BTW - What state are you in? I don't know if it's already been asked . . . . Also, can you list what pdl's you have, how much you borrowed, how much you've paid so far in fees, etc?

well see ehre is the thing. my pay day loans are suposed to cmoe out tomorrow i havent paid anything on them yet i got them almost 2 weeks ago

worldwidecash-200
m1ydirect-250
sjm marketing=250
ameriloan-350
one click cash-300
nls cash advance-200
cashnetusa-150

and i live in az

Oh, I think you posted that info in another thread, right?

yeah i think i might have. i dont any contact for any of those companies. i would like to get contact numbers and addresses so that i can call them and send them some kind of letter. or work out some type of payment plan

Yeah, to get the legal amount you owe on each loan you will want to do this:

200/.85 = 235.30

250/.85 = 294.12

300/.85 = 352.95

350/.85 = 411.77

150/.85 = 176.47

That is the legal amounts you would owe on each loan amount for one pay period. Since you've defaulted they can also add a $25 nsf fee to that amount. That is what you should pay back to each company.

Do a search on this forum for the company names. You should be able to find most if not all the addresses here. If you can't find one, just post the company name and any info you do have about them and others may be able to locate the address.

thank you for that. so basically if i pay back all of those exact amounts to each company then i would be complately paid off to them? in a legal sense. what if i only pay the finance charge for getting the loan on my due date instead of the full balance, the next pay day will i have to pay that finance charge again?

That is correct, as your state allows you to rollover the loan up to 3 times. If you were to rollover the loan more then 3 times, then legally you would be able to deduct the extra rollover fees from the principle.

well thats refreshing. i just got off the phone with the bank yet once again. basicalyl placed a hard hold on my account so that nothing will go through i told the guy about my pdl situation told him that they pdls are going to be coming thru tomorrow and they are going to say that they are authorized but i am not authorizing them so he placed a hold on the account to no accept any debits to the accounts only credits. cancelled my bank card and the account number so that nothing will go thru at all.he also said that once my direct deposit check goes into my bank account tonight that i can just get it transfered into my new account tomorrow when i go into the branch. and i asked him what if the pdls try and put all these payments thru he said that they wont go thru since there is a hard hold placed on the account. he said that all fees will be waived on the account so i guess i am going in the right direction to getting all this paid off and taken care of. sorry so long just had to vent and let it all out to someone!

WoHOOO!! A hard hold is exactly what you need! I'm very impressed with this guy for doing that! If they had done that for me in the first place it would've saved a whole lot of money and headaches!

yeah i am very excited. the reason the did that was because i did what you told me to do in the PM you sent me and that was what worked.

as soon as i posted that last message i got a call from a debt help type company...how random is that....this seems like its all too good to be true, there is no way it could all be working out like this...whats the catch? :-)

Well, when you registered at this site you may have chosen the option to be contacted by a debt help company in your area . . . . That's probably what happened.

I'm glad my suggestion worked! Although, until tomorrow and we see what happens I'm holding out on some of the celebration . . . . A hard hold is exactly what should stop the transactions from going through, but you never know with WF . . . . .

yeah true. but i had the hard hold just placed on my account like what 2 hours ago and a pre auth payment for my rent application fee was supposed to come through and they already returned it...so its looking good....just keeping my fingers crossed. but thank you so much for helping me!

That's a great sign! I'm mean, it's not great that the rent application fee was returned, but that means that the guy did put a hard hold on the account, and things aren't going through. Was the application fee a ach transaction by chance? Or was it a check?

was a check but i had a ach transaction also returned today. yeah its not good with my rent but thankfully i told the ladies in the office of my situation sometime last week and as soon as i found out it was returned i called them and let them know of the situation again and told them i would just go pay them directly and they were fine with it

If you had an ach transaction returned you are looking good! If the pdl transactions reopened the account now I'd be very surprised!

Now you can worry about the letter writing to the pdl's and dealing with the payment arrangements! Well, not worry, but you know what I mean :D

yeah i know:-) so about the letters...what do i do? do i just write up a letter and say i wanna make payments or how does all of that work? i just wanna get all of this going and get everything in order so that when they call me and tell me what a horrible person i am for closing my account and how they are taking me to court and how they are going to come arresst me i will already ahve all the info ready

I would write them a letter stating that according to AZ laws you owe $xx. Cite the laws. You can find the full text of AZ laws here. Then offer up some payment arrangements that you can stick to. Also put the line "I revoke any and all wage assignments I may have signed with XX Company." You may also want to put something about them not contacting you at work. Send them certified mail.

I told you not to worry and that everything would be OK. The hard hold is what saved me but I got it too late and had to fight my bank. You got it just on time. You see?