15 PDLs Help

Call each of your lenders and work out some payment arrangements. You will come to know who is willing to work with you and who is not. You have to give a try first.

You can also take some professional help from a debt counselor. There are some companies in your area that might work with pdl companies. One company is already referred by this website since you did the sign up

First of all are any of them storefront loans? Or are they all internet loans?

If you have storefront loans then you need to contact those asap and not worry about the internet ones yet.

If they are all internet loans then you will want to close your checking account and open a new one at a different bank or see if your bank can do an ACH freeze on your account, so they cannot get anymore of your money and then you can pay your regular bills and your living expenses.

Then you can send letters to the lenders that you have. But if you could list who you have loans through, how much you borrowed and how much you paid back. Someone will be able to help you out to see if you have overpaid on them or not.

There shouldn't be any storefronts if you're in New York.

Who loan Paid to date
Moneyline 300 7,020
Platinum Finance 1000 2,200
ameriloan 600 360
One Click 500 300
Paycheck Today 500 1,000
United Cash Loans 500 1,000
MTE Financial 400 540
500 Fastcash 450 720
GECC 400 700
SPD 400 900
Discount Advances 400 280
Pdaysvcs 600 650
my cash now 300 223
Cash Today 250 1,000
I actually had one listed twice so I'm now down to 14.

You should know this, payday loans are illegal and prohibited in New York. File complaints with your Attorney General's office, open a new account and close the old one. Ooops, sorry Freaky Friday, I was typing this and realized you posted the same thing about pdls being illegal in NY. Sorry.

Yeah, and NY's AG has been taking action against payday loan compaines, so they may be very interested in your complaints.

When you go to close your bank account, 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 you end up owing the bank $1000's instead of illegally operating pdl's. Not good. If you bank has this policy, explain the situation to them. Tell them to put one of the following on your account before they close it: An ACH Block, a hard hold, or deposit only. This will prevent ach transactions from reopening the account. And the pdl's will try to put the payments through, no matter what you tell them.

For guest with 15 PDLs. You have already over paid 7 of these loans and should send them certified letters demanding a refund. The are illegsal in NY so you should only owe them the prinicipal plus whatever NY allows in interst for small personal loans which is < if I remember correctly 15%. You are being generous even giving them that seeing they are loaning illegally in your state.

Since they are illegal in NY you would not owe them any interest. The 15% is for small loans, and that does not apply to payday loans. You are owed refunds on quite a few of your loans . . .

You really need to stop the bleeding and close that account asap!

It can get kinda confusing to have several threads going about the same thing . . . . What does everyone think about picking one of them and just posting everything to that one thread? I think there are 3 or 4 of this same question floating around . . . . I want to make sure MPEREZ is able to get all the advice possible, and not miss something important because it was posted somewhere else . . .

I know I'm trapped - but I also knew what I signed up for - I just fooled myself into thinking I would pay them off. I feel responsible to try and work this out with them. Are any of the companies listed more reasonable than others? If I could get the fee knocked off and have all the ACH stopped I think I could pay off everything in a matter of months.

First off, you only owe on 4 of your loans . . . The rest you have paid more then the principle on . . . Total, you owe about $637 more on the 4 loans combined . . .

I think you really need to go after a few of these companies for refunds. You need to call your AG's office, they have sued several payday loan companies and may be able to really help you out.

You are not trapped! I don't think any of these companies are going to be reasonable, but I know some will be downright nasty to you.

You have to close the account. There are too many companies, too many dba's, to not close it. Even with an ach block, the pdl's will create paper checks on your account and send them through. You have to close the account. If you are worried about opening another, don't. I can help you find a bank if you are on chexsystems or telecheck or something. Let me know if that's a problem.

I can work the bank thing I think. I just have to time this with my direct deposit pay. My bank is a credit union from where I used to work. (Eastman Kodak) They are now ESL Federal Credit Union. I have savings accounts there to (but of course with zero balance) Should I close those too? My biggest fear is getting them contacting my work or references.

If the savings account is in any way linked to your checking account, then yes, you need to close it too.

About them contacting your work and references . . . . It's hard to prevent. One thing you can do to try and minimize the embarassment is telling your co workers or friends that someone has stolen your identity and took out a bunch of payday loans. That way when they call and say all sorts of lies to your coworkers and friends, they will not listen to it. I know it's lying, but these companies play dirty, and getting fired because of these places calling isn't fair either.

Goudah is correct. I found this out the hard way, because I was with a credit union and my savings was linked to my checking. I closed both and open new accounts. Ended up having to go to another bank entirely because these crooks somehow managed to gain access to my new account with the credit union, it had something to do with using my social security number. That really sucked bad. But now I am with a new bank. And knock on wood..........things are better.

I made some progress today. I have a new account at a new bank - I have a few legit transactions to clear and I will close the other one by the end of next week. I left a message with Moneyline to call me about my loan. I'm going to gather all the data on my loans I can recover over the weekend. Next week I'm going to start the calls and see what I can arrange while at the same time filing with the state attorney and secret service.

I had a loan with Moneyline and they were actually easy to work with once I defaulted. Let me know if you have any questions regarding this lender. I have some information on them. Good luck to you!

MPEREZ, I am so sorry that you are going through this but there is definitely light at the end of the tunnel. You have gotten some great advice. Just know that brighter days are ahead and we are all here for you. :) You have taken the first step in coming to this site for help!

Thank you all for the great support. I am not in default yet I just made all of my payments on Thursday so I have until the 28th before anything else is due. My plan is to close my account probably on Tuesday once 2 legitimate transactions flow. When I close I was going to sit with the bank and explain everything so that I'm sure of any liability with them. I am assuming once it is closed they can't get anything from my bank. I have a new account and bank opened and once I close the old one I will switch my direct deposit and start making the calls to address the situation on each loan. At the same time I'm filing with the NY AG and Secret service. I don't want to address the PDL companies until my account is closed. Am I missing anything?

No. You sound like you have everything in place and a well thought out plan on how you are going to take control of the situation. It sounds very good.

'Please, please, please listen to these people! If you''r going to leave your account open for another week, at least go in there and put a block on it so that debits will not go through. It''s happened to me. Also they will put an electronic check through if the debits won''t go through. It''s happened to me. Getting that stuff reversed is murder! Go to your payroll dept at your job and ask that they stop your direct deposit immediately (claim the identity theft thing - whatever - just do it!) and tell them to issue you "live" checks only for a week or two and you can deposit them into your new account at your new bank. These people are law breaking thieves! Do not let them take any more of your money. You have given them so much in overpayments, it breaks my heart. Contact your "old" bank account immediately and put a hard block on it. Tell them NO debits, NO electronic checks, whatever are to go through. Go to your payroll department and stop your direct deposit. Then you won''t have to wait for your paycheck to hit before you close the account. In the meantime, the money sucking thieves will be lined up for debits to be taken. Believe me. These people are correct. And believe me, I know because it''s happened to me. My account "re-opened" because pdl debits went through. They will put electronic checks through. They are harder than ACH debits to reverse. It''ll be a nightmare!')

MPERZEZ, I think that you have everything in order. Please follow the advice from cannr as well. The pdls are pretty much thieves and criminals and will take your money any way that they can!