Rhode Island Payday loan help

It is illegal to do more than one rollover in your state. You should check on the companies if they are licensed in your state. If you find them to be not licensed and overcharging on your account, report them to your state attorney general. They will start investigating on the company. How much have you paid so far?

You definately need to listen to BKP, and file complaints with your state's attorney general's office. You can get control back over this situation.

And in some cases, you can claim for a refund also if you have already overpaid them. With the AG's support, you will surely get some positive results.

Edited by user request - Goudah

Looks like you owe very little in principal and interest on most when you add up the roll over fees. And it looks like ASAP loan has been more than paid in full including the interest rate (legal rate that is for your state)

Edited by user request - Goudah

I know how you feel. I was exactly where you are back in August 2006. No sleeping, no eating, stomach in knots, NO APPETITE. You are on the road to taking back control and things are going to work out for you. :D

Edited by user request - Goudah

Rhode Island allows internet pdl's that aren't physically located in RI to be licensed in another state.

But looking at the names of your companies, odds are pretty good that they aren't legally licensed to lend anywhere . . . So that issue is probably going to be a moot point.

To stop this you need to close your bank account. When you do this, you need to ask your bank what their policy is on ach transactions going through on closed accounts. Some banks will force open the closed account and allow the transactions to go through. Then instead of owing an illegally operating pdl, you owe a perfectly legal bank $1000's . . . Not good! So if your bank does have a policy like this, tell them your situation, and tell them to put one of the following on your account before it is closed: An ACH block, a hard hold, or put the account on deposit only. This will prevent any ach transactions from forcing the account back open.

I just spoke with the RI dept of banking again, to double check things. They told me that in RI, if a company wants to do payday loans, they must also be a check casher. They do not license internet payday loan companies, but the internet payday loan company must be licensed in another state to lend legally to RI consumers. Also, they must be following the laws of the state they are licensed in.

Do you think I have a leg to stand on or do I still have to keep paying on the finance charges until I get the money to pay them completely off.

Yes, you do have a leg to stand on and NO you do not have to keep paying those roll over fees. Do what goudah said, CLOSE that account and open a new one, even if you have to go to another bank. This is the first step in taking control back. Still file your complaints with the AG's office. And you are going to find that some of these companies have no license in the state they are located in and if they do have a license you will find they are not even following their "home" state's laws. So you do have a leg to stand on, you should also file complaints with their state's AG's office. I found out when going through my ipdl mess that a few of my pdls weren't even licensed in the state they were located.

Oh yeah, you have a huge leg to stand on! Odds are very good that these companies won't be licensed anywhere . . . .

Cashnet USA is the only one that is for sure licensed. They lend to RI consumers under their Nevada license. Under which there are no limits to interest or fees, of course! But by law they must allow a repayment plan, and they can only charge interest equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %. So you will be paying much less in interest once you default on that one.

You should call each company up and ask for thier licensing info. That way you can check and see if in fact they have a license somewhere, which I doubt, and what the laws are for that state.

Also, even if more of them do have a license, there are other ways to get them. Beleive me, I live in a state where there are no caps. I had 9 pdl's at one time, and I cleaned them all up. I just did a lot of research into things and went over my contract very carefully until I found a hole. It can be done!

Edited by user request - Goudah

You should definatly send them letters stating that "You revoke and and all wage assignments you may have signed." These are like garnishments, only they are completly voluntary. Some pdl's put these clauses into their contracts, so you should revoke now.

Also, don't kick yourself. Most of us have been in your shoes, and know exactly what you're feeling. If we were all kicking ourselves in the you know what over our situations then our as**es would hurt to bad to sit at a computer and give you advice!

Also, with the voluntary wage assignment revokation letters, make sure you give a copy to your payroll department, otherwise they have been known to still attempt to garnish the check.

Edited by user request - Goudah

Anymore questions, just ask! Someone is usually here to answer, or at least keep you company until an answer arrives!

Edited by user request - Goudah

They will probably call you at work, so be prepared. Even though it is the original creditor and original creditors do not have to abide by cease and desist letters, they do as an original creditor have to abide by the debtor telling them NOT to call thema their place of employment because personal calls are not permitted. So yes, if you tell them not to call you at work, they are not supposed to call you at work.

All you need to but on the letter to revoke the wage assignments is this "I herby revoke any and all wage assignments I may have signed with XX Company." That's all you have to put regarding that!

As far as them calling you at work, well, that's another story. These places are notorious for harrassing people at work. They will tell your co workers that you are about to be arressted for theft, and all sorts of other wonderful things! It's hard to get them to stop calling . . . I had the receptionist at my work tell anyone that called for me that I didn't work there anymore. Still, one pdl called 20 times a day for almost 2 months before they stopped, each time being told I didn't work there anymore.

One option is to tell your coworkers that your identity has been stolen by someone that took out a bunch of payday loans. That way you won't be totally embarrassed by the calls. I know it's lying, but it's better then losing your job or having all your coworkers gossiping about how you are going to be arrested.

I know many people have told pdl's not to contact them at work, but usually it doesn't work. If I'm wrong, please someone correct me, because it would be great if the calls could be stopped.

You are right, it seems the calls increase when you tell them you are not allowed calls at work. It is a sick and twisted game they play. I used the "My identity was stolen" for my employer.

It's really a good way to minimize embarrassment, and that way you can warn everyone before hand, and they can be instructed to just hang up if anyone calls.

Edited by user request - Goudah

Edited by user request - Goudah

I will never understand why these places do things that could get someone fired. yet they are trying to collect money! Duh! How can they pay you if they have no job! Just shows what idiots these pdl places can be . . . . .

Edited by user request - Goudah

Anytime! Please come back and keep us updated on your progress . . . . After you file the complaints and close the account, you have to start the letter writing!

Have a great night out! Have some fun! It's not going to be quick, but this will get fixed, and in no time at all you will have a full paycheck, to pay the bills you want to pay.

Edited by user request - Goudah

Your house is more important than the pdls. Especially those internet payday loans. Have a nice weekend, and enjoy your night out! :D

Edited by user request - Goudah

No dumb questions here. I personally would mail them. Just explain how the loan has worked. How much you have paid also. If you have bank statements to send in that would be good also. The Attorney Generals office can work miracles with these people. Best Wishes KYSIDE38

Edited by user request - Goudah

Edited by user request - Goudah

Hi laf I am in RI too. I had three recently and I sent a complaint to the BBB about one of the loan companies that kept harrasing me at work. Just got a letter from Nevada saying that my contract is null and void for 2 of my loans because not only are the companies not licensed in RI they aren't licensed in Nevada either. Check out the post that says Cash Today Limited in trouble. Listen to everyone on here and complain, complain, complain. It helps alot.

Thank you for your input everyone. Ancass Besides the BBB who else did you complain to? If you don't mind me asking? Did you do any business with the ones that I have listed. Have a great day.

Also complain to your state's AG, banking dept, US Secret Service, FTC, and anyone else that has a complaint form!

I did FTC who called me back and I returned their call, but never got a call back from them. I filed with my AG, but they sent me a letter saying it did not fall under the consumer division and left me with the contact info for the Nevada Office that eventually sent me the letter, which they received from the BBB. I know that sounds wayyy to confusing, but it worked out. :D

No, that makes sense to me . . .

As you said "Complain Complain Complain . . . . It helps a lot!" :D

Glad it did. I think I confused myself on that one, but heck lately that isn't hard

I have loans with united cash loans, 500 fast cash and nationwide cash loans. Do you think it would help if I go straight to the Nevada and New Mexico atty general's offices? There are also addresses for 500 and united in Oklahoma. I figured I would add them in. I checked the state laws for both OK and Nevada and the companies don't seem to be following either of their state laws, despite having addresses listed in those states. Also, I'm filing complaints with the BBB.

I would . . . The more complaints you file, the better. Odds are usually pretty good that internet lenders aren't following the laws . . . .

Hi everyone and thank you for all the information. I am working I fixing this problem Now.

ancass1 did working with RI AG do anything for you or should I just go and complain to the AG on the st ates that have my loans?

I'd just file with both . . . Then you have both bases covered!

I'd file with both too. The AG gave me the contact info for the Nevada Division plus if I didn't mention this earlier, they did forward the complaint to them too as well as did the BBB so they knew I was having issues when they got 2 complaints from the same person about the same company from 2 different sources. I would complain with everyone as goudah above said. Can't hurt

Edited by user request - Goudah

If you are going to work with T&C, I'd just ignore the calls until you have your contract, then just refer the calls to them.

If you want to take the calls, just tell them that you are going to be doing a debt management program, and they will get their money when they get it.

Or you could have fun with them, and just speak all jibberish . . . .

When you closed your bank account did you ask them what their policy was on ach transactions going through on closed accounts?

Edited by user request - Goudah