Payday Loan panic and action (long)

File fraud charges on that everprivatecard...you didnt knowingly apply for them but one of those pdl's works in conjunction with them and swindles numerous people out of hteir money(i believe its mycashnow.com cuz thats the company that got me on one of those charges!)
The reason why they lended you the money is because these PDL's loan under the assumption that they are lending from their state...here is the catch: MOST OF THEM ARE NOT EVEN LISCENSED TO LEND IN THE STATE THEY ARE LENDING FROM.

You are only obligated to pay back the principal. Make sure you file your complaints with your state's attorney general. And if you put in for a refund with everprivate, you should get that check within 10 business days, I did. Kyside will tell you that in some states where pdls are prohibited they will say you don't have to pay any of it back because the transaction was illegal to begin with.

Thanks so much for the responses. I was able to capture the transaction page of my bank account and here is a revised list of the numbers. Clearly, none are paid off yet. Are the steps I am following correct so far?

PayDayOne $200 (paid $29.26)
OneStepCash $300 ($90)
ameriloan $150 (paid $150)
OneClickCash $200 (paid $60)
MyCashNow $200
Money World Lenders $300 (paid $180)
Geneva Roth Ventures $300
M1Y Direct $300
SJM Marketing Corp $200

I am glad that you found this site before it was too late and they scared you into paying double or even triple of what you really owe.

When united pay services or bass & associates call you telling you that you have until such and such time to pay a million dollars or they will have you arrested or downloaded tell them that you know that it BS. And that you WILL NOT pay anything by money order or western union and no they cannot debit your bank account with a debit card. Tell them it is going to be a money order or cashiers check.

I have only delt with oneclickcash and sjm marketing. oneclick wasn't too bad to work with. But I don't have to pay back sjm marketing because my states department of financial institutions has that one and she told me that they didn't respond to their letters and they have stopped calling me to just let it be and don't bother with them. She wants them to take me to court or report on my credit report because then she will get a real address for them and then they will be busted lol.

I suggest that you take one at a time. There are too many to try and pay off at once. I had 10 internet and 10 storefront loans at once and we are doing them one at a time. But we are getting settlement offers while paying off the others and I tell them I cannot pay it until such and such date and they agree to that.

Maine,
Welcome! And let me say you are doing a great job!! I also had that many PDL's at one time and I can tell you that it is going to get better.
I wish I could tell you that they weren't going to be calling, but you and I know that they will and we are going to help you deal with it. The best advice I can give you is to be honest with them. You are going to get a**hol** on the phone who will try and scare you and they possibly might call your boss as well, if you gave your boss as a reference. When I got this threat, I figured that the best offense was a good defense and I took my boss aside and told her to expect a call. It never came.
And no, YOU WILL NOT BE ARRESTED!!!!!!! Now from your list, it seemed like you didn't have any storefronts. Is that the case? No storefronts is a good thing!
Keep posting back here and we will help each other, OK?

Thanks so much folks.
puddlejumper...taking one at a time sounds like the rational way to approach this. However, what do I tell the others while they wait in line? Just know my rights, stand my ground and tell them I am working on a payment plan? I am considering going to a debt councelor for these and some older debts.
kscornell...thanks, I am most worried they will call my manager at work who I did not list as a reference but as my supervisor on my apps. I am currently up for several promotions and I do not want to put those in jeopardy. I also listed my brother and best friend as references. Maybe I should alery all three of them that they might get called.
Steelers-I do want to pay back what I legally owe...I just need to be sure of what that amount actually is. If I read my state info correctly, it looks like they all are prohibited.

You will find the Payday loan laws for Maine here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
Leah...thanks for the info on those companies.

With my figures in mind and the Maine laws above...can someone help me tabulate what I actually do owe these loan companies?
PayDayOne $200 (paid $29.26)
OneStepCash $300 ($90)
ameriloan $150 (paid $90)
OneClickCash $200 (paid $60)
MyCashNow $200
Money World Lenders $300 (paid $180)
Geneva Roth Ventures $300
M1Y Direct $300
SJM Marketing Corp $200

Thanks John

John,

Welcome to the forums :-) When I first came here, I had 21 payday loans. They were all internet which is actually a blessing because they do have to follow your state laws. I'm not too familiar with Maine laws but you may want to contact the number in your post above to find out more able the laws. I am now payday loan free, have been for awhile. I have dealt with a few of the loan companies listed, including mycashnow. I am still seeking a refund from them. As far as not contacting your boss or references, write them a letter stating this. E-mail, fax, and certified mail it if you can since you have their addresses. I kept doing this and the calls eventually stopped. Only one contacted my boss at work but he was pretty understanding about it. I know how scarey it can be at first but it sounds like you are trying to do the right thing.

thanks for the feedback Mishele...you folks are a Godsend. I do find that taking the actions help to calm the tremendous anxiety I am experiencing. And having the support and stories of others who have been in my shoes is a real gift.

As far as doing debt consolidation and counceling...can anybody suggest a good online or phone company that caters to PDL debt as well as other types? I do not drive so it cannot be a storefront local company.
I read in several other posts about Town and Country. Does DCC take on PDL debt?

Thanks-
John

OK...I called the bank and my freeze on ACH debits is in effect. SJM Marketing snuck through before it closed but it's my first payment to them and that's just fine...I do want to pay what I owe them. I called CS at my bank just now to get the freeze enhanced to include all debits from the account and only allow deposits, but I will have to go to my branch on Tuesday to request that. The rep also went through each questioned charge and is sending me paperwork to file for any refund that might be due me from illegal activity.

Before work I also emailed my state rep in charge of Loan liscencees and consumer outreach and he got right back to me saying that payday loans in maine are regulated and he is sending me a complaint form.

I will draft a letter this weekend to send to all the companies letting them know that I intend to pay what I actually owe them as well as revoking any electronic debit or wage garnishing authos. I am not ready to suggest a specific payment plan but will let them know it will be forthcoming.

I really think that with the 9 PDLs and my older debt, I would benefit from debt consolidation and counciling.

OH..and no calls at work today...they must all be on vacation. ;)

John

OK...how does this letter look to you folks?

Quote:

That sounds great. Concise and to the point. :D

thanks steelers...I am going to put this to bed for the night...thanks to this forum for lots of stress relief...also taking these actions helps the anxiety tremendously...Im gonna unwind and watch a DVD.
John

John,
Love your avatar, btw. You have done yeoman's work in the last 24 hours. Sounds like you're off to a great start! I would definately give everyone on your list a heads up re a potential phone call. This takes one threat away from the PDL's, so when they threaten you, tell them to go right ahead--everyone's waiting for their call!! See what they say then!!

ks....thanks for the avatar comment...I'm happy to say I have given up diet pepsi in favor of green tea...and reduced my enjoyment of it and coffee ice cream to a monthly treat. :)

As far as yeoman's work....it really helps to stay active with this problem. Taking actions is a big stress reliever for me. Finances have always been my biggest anxiety button.

I set up at my flea market yesterday hoping to make some extra cash as I work on getting my frozen bank account healthy and solvent so I can close it and open a new one...very bad day there...I barely made enough to cover my table.

So I have $19 cash in my pocket till I can generate more cash for living expenses and postage for nine certified letters. It's my birthday this week and I am expecting a $200 cash gift from my Dad. My stop on direct deposit from my employer will take hopefully only one more payday (this Fri), then I can temporarily get paper checks till my new account is open.

I am also going to do some eBay listing to get some money in my PayPal account.

The real blessing is that I have Tuesday and Wed off so I can really TBC. I need to see my bank rep, send out my certified letters, call Town & Country (or another debt consolidation firm if they do not work with Maine residents) and do my eBay listings.

I watched The Prestige last night...loved it.

John

John,
Good luck to you! Just take it one day at a time and you will be fine. One day at a time, one PDL at a time.

One day at at time..that is an outlook on life that I have tried to practice for over 20 years. Thanks for the reminder ks.

Here's an update on my actions to deal with my loan and debt problem.

I called Town & Country and had my intake interview via telephone. I spoke at length with one of the superb CS reps and she was extremely knowledgable in dealing with my questions. I will be retaining their services and am awaiting the paperwork to arrive in the mail.

They will be assisting me with my nine PDLs as well as approx $9000 in older debt.

I have emailed my bank account and wage revocation letters to all the PDL companies and will be snailmailing the hard copies this week. I also repeated that I am not allowed calls at work and that they could reach me via USPS, email or through my representative who would be contacting them shortly. I also stated that I fully intended to pay them what I legally owe. T&C will also contact them but not until I fill out the papers and send in my $220 deposit. I wanted to keep my bases covered for the next few weeks till T&C is fully in place.

Yesterday I went to my bank and discussed my plan to get my current account up to a zero balance. It is currently frozen to ACH debits, but if a manufactured check is presented for payment (like EverPrivetCard did with a "check" numbered 9999), it won't be honored but I will be dinged the NSF service charge. Also, my account is going to be charged $35 for every five days it is in the negative, so I want to get it cleared asap. My bank rep told me I could then close it and open a new account.

My direct deposit has been cancelled to the account, but the timing might be that this week's check will get deposited..that is fine, as it will get my account close to the zero point. If it does kick in and I get a paper check, I will be able to hold a bit back for my living expenses and deposit the rest in the account.

I just got a cash gift (remember cash?) for my birthday and I plan on living on it till the new account is opened. I also will use the money to pay an immediate debt, and to send off my letters.

I have yet to do my eBay listings..but I will along with set up at the flea market this Saturday.

Oh..and to top it all off...my washing machine has broken beyond repair so I have been doing hand washing for the past two weeks till I can save up the money for a new washer. (save up the money...right...well. I will do what I can)

But, like you said, one day at a time...

Mainebruin,

Just wanted to say thank you for posting everything you are doing. I am in the same bind and didn't know where to start. So now I am working on doing the same things you have been. Do you have the number for this Town & country place you can share?

I have some of the same payday companies you do, so please keep posting and let me know how its going.

Hi John, I just came across this site, and hope things are going well for you. I noticed from the posting dates that you were sorting through things about a year ago. Were you able to get everything sorted and cleared up? Take care.