Advice in United Cash Loans

I think no matter how you figure it, you've overpaid if you've already paid over $700 on a loan of $550 ($250 original loan + increased principal of $300). Certainly the way I figured it, you have.

I'm assuming this is an internet loan?

Send the company a letter via certified mail, return receipt requested - advise them that since you have overpaid the loan based on your state law, you are requesting to be marked paid in full, and you are also requesting a refund of the overpayment.

Also, close your bank account and thereby regain control of your money. Blocking ACH debits or blocking this company by name or dollar amount may not work - some PDL companies have been known to simply change their company name or the dollar amount of their debit when you block them.

Awesome! Thanks for the advice. I have drafted a letter to send via certified mail today. Also, I am going to fax it and send it by email. Thanks so much for your help. :-)

No problem - glad to help!

Just be sure you keep an eye on things, watch for your return receipt via mail, and close that bank account if at all possible - otherwise they'll debit you to death. You need to regain control of your money in order to fight them.

And watch for them "paper checks" they send through. UCLs did that to me and the bank said since it was a paper check, there was nothing they could do.

Yes, that's another tactic they use. If you block their access to your account by blocking their ACH, they'll try to put through a fake paper check with a bogus number like "99999". That's why it's best to just close the account if possible.

Hi. Thanks so much for all of the advice. I have to admit, I'm scared to death right now. I keep thinking the worst, but hearing that everyone here has been there and are making it through just fine makes me feel much better. I have closed my account and included in the letter a revocation to draft as well as have informed my bank of the revocations. I am currently dealing with 500fastcash, Unitedcashloans, and Nationwidecash. I am gritting my teeth, expecting the worst, and hoping for the best.

Just hang in there....it will get better. Best thing to do is take things one day at a time, one step at a time and before you know it, you will be out from underneath those payday loans....and then NEVER GO NEAR THEM AGAIN!!!!

:wink:

Don't be scared - these companies are ALL OVER this forum - they are internet lenders, and I have yet to see where they didn't just give up after a while when they knew the consumer knew his/her rights and put up a fight after paying in full according to their state law.

Knowledge can be a powerful weapon and this site is full of knowledge about these payday loan places and their tatics. Take the time to do some reading and arm youself. Be prepared as to what they might try to say or do and let them know you are not scared. Believe me, it is pretty easy to do that. I am not usually one that handles confrontations well or anything like that, but I did with a few of these companies and I felt good about doing it. I did not let them intimated me and a couple of times I didn't even let them get a word in edgewise!

Thank you sooo much. This makes me feel much better. Things will go into default this Fri. so the countdown is on!!! :-) About how long did it take for you all to start hearing from your pdls once they defaulted, if they defaulted?

Pretty much right after they were not able to get a payment or it was returned to them.

Were they really aggressive with your references? That's the part I hate. I don't mind them being aggressive with me, but I hate for my references to be harrassed.

Send them a letter, e-mail, fax stating not to contact you at work or your references regarding this matter. I did that when I went into default with them. They never contacted my references but they can be a nightmare to deal with at times. :x

Thankfully I didn't not have a problem with anyone calling my references nor really my work. The ones I had the problems with was Route66 and UCLs. Well to be honest, UCLs never really called, they just sent a check through, but Route66 was a pain in the ****!

[color=Red]****Adult term removed - Jason[/color]

This is very reassuring!!! I feel so much better after talking about it. I thought I had the anxiety under control until today. I guess I'm feeling a little gunshy and worried at the last minute. I don't expect to have a huge problem with ucl or 500fastcash, but I think that Nationwide is going to be all over me. I have only paid $120 on a $400 loan and they have applied it all to interest (of course). At least with the others I have money sent in to back me up. I did, however, propose a reasonable payment plan to nationwide to repay as per my state's laws. Hopefully they'll go for it. :-)

Sending them a payment plan was a good idea - Nationwide is not easy to deal with, from what I've heard, but you are not asking them to mark you paid in full right now - just proposing a payment plan that you can afford. You're doing the right thing.

I am in the state of Louisiana. I had about four online pdls. It got to the point where I couldn't pay my bills. I have contacted all of them and made arrangement to re-pay. However, today I was trying to call one and they sent it to a collections place called ICollect. When i tried calling them they were closed but earlier today I received a call from some ? and associates threatening to take me to court if I didn't pay today. They say they were representing Arrowhead investments but Arrowhead said they sent the acct to ICollect. The man from the other place said he could charge me with writing worthless checks. is this true? It was supposed to be an ACH. I stopped payment on the acct but want to make arrangments. Should i just wait to talk to Icollect tomorrow?

I-collect...look for other threads on here making reference to them. I don't think they are easy to work with. Also, congratulations on making arrangements with the others. I know it is probably a great relief. :-)

From what I understand, ICollect also hires Bass and Associates to collect for them. They are not easy to work with and make many illegal threats including jail, "downloading," and many other horrible things. They told one member here that they were sending 25 people to arrest her. :( She is still waiting for them to arrive 3 months later!

Guest, Do Not pay any attention to this. Sass is right I think I have heard every kind of threat imaginable from these people. I guess they are so ILLEGAL it dosent bother them. Do not be afraid your not going to jail or be charged with check fraud. KYSIDE38