Need so Advice...and FAST!

Did you give the letter to revoke to your bank too?? Make them aware and have them stop payment on the ID so they can't get through anymore. Then call your state's attorney's office and the dept. of finance for assistance. You can also file a complaint with the bbb in your area.

I have already done that. I just want to make sure that they have to be licensed in my state, which is what I have understood all along. I did inform my bank about it and they have put my account on "deposit only" since I was so overdrawn. They are not adding any NSF's or anything. My contact at the Department of Finance is not really responding to my emails. I don't want them to sue me or anything, but then again, I have overpaid them.

They also told me that they are licensed in Delaware, but I went to www.paydayloaninfo.org and did a search, and can't find anything on them.

Pretty much any of these places are going to tell you that they do not have to be licensed in your state. They will tell you that they are not doing business in your state, etc. Don't let them scare you. From what I have read on here, they are not going to do anything. It is just one of their scare tatics to try to get you to pay more money than you already have. They won't take you to court because they know they will not win since you have already over paid. Don't fret too much.

I try not to, but I just want to make sure I have covered all my bases....I went on paydayloaninfo.org and found this in regards to Florida....

All persons who desire to become a deferred presentment provider must be licensed as a Money Transmitter pursuant to Chapter 560, F.S., Part II or Part III. To engage in such business, the registrant or applicant must submit form OFR-MT-3-01, "Declaration of Intent to Engage in Deferred Transactions" together with the required $1,000 fee. No activity can commence until properly registered to do so." If Iread this right, they MUST BE licensed in the state of Florida...whether they are licensed in their state is kind of irrelavent if they are not licensed in the state that the consumer resides in...correct?

I believe so. Don't be afraid of them or their scare tatics. You have the law on your side and they know this, but that doesn't stop them from trying everything they can to get you to pay more than you should. Hang in there

So what should I do? Just ignore them? It would be different if I owed them money, but I don't. In fact they owe ME money!

Try calling your dept. of finance and talk to someone...or someone in your AG office...atleast then they will be aware of what you are fighting...I personally stopped payment on 9 pdls 2 weeks ago...and outside of a few emails and calls I haven't gotten any legal threats yet, etc. I have sent the same letter...by fax and email when I could to most of them twice now...

I got this from eastsidelenders.com

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WTF does this mean? Does this mean that Florida laws make no difference??

This sounds like something that is signed on loan documents with internet lenders. Been there, done that. It sounds like they are stating they are licensed in Delaware and that Delaware laws need to be followed. Are they licensed in Florida? I have been told by several different state AG offices that they must follow the laws in the state of the consumer. I believe this to be true. If they owe you money, keep after them. I would follow the proper complaints and go from there.

No, they are not licensed in Florida. I could not even find where they are licensed in Delaware. I have filed complaints with the Department of Financial Regulation and have received no response from anyone. I called the AG's office and they referred me to the Department of FInancial Regulation. I filed a complaint on Eastside Lenders almost a month ago and nothing has been done on it. I even emailed my contact, who was so willing to help me a few weeks ago, and I can't get her to return my emails. I don't want this to go to arbitration because I feel like I have paid them more than enough money. I don't even want the refund that they owe me, I just want the account paid in full. I feel like the state of Florida isn't going to be any help in this situation.

If these jokers were going to sue you guess which state they have to sue in. The answer is Florida. To take it one step further they even have to sue you in the county that you reside in. All creditors have to sue in the state that the applicant resides in. The can not force you to come to Delaware or wherever they claim to be licensed at for a civil suit. Now if they come to Florida guess which state laws apply. It certainly would not be Delaware????????s laws. The only laws that supersede your state laws are federal laws.

The first thing you need to do is close your bank account and open a new one if they have access to your account. You will have to work with your bank to make sure that your bank does not accept any more charges against the account even if it????????s closed. I would write a letter stating your state laws and your calculations of the total amount you owed them according to your state laws. I would then request a refund in the amount that you overpaid according to your state laws. I would file complaints with both states AGs. You might also consider making a trip to your local court house to find out what steps need to be taken to file a case in small claims court. In my state it????????s not too difficult. It cost something like $50 dollars to file and another $50 to serve the papers but I am not what procedure would need to be taken against a business located outside your state.

The best news though is this company has no legal means to collect any more money from you. If you can deal with a few collection calls from them then that is all you will really have to deal with probably. I would either hang up with no dialogue or I would state that you are not paying another penny and if they want more then take you to small claims court and hang then up. There is really no point in getting stressed over these guys and having meaningless conversations.

Thanks for the advice DollarSandSince..I have already closed my previous account and have opened a new one which NO ONE has access to! I sent Eastside Lenders a certified letter a month ago demanding that they stop debiting my account and that the account was closed. They continue to try to debit it, but my bank is aware of the situation and will not allow the debits to go through. I guess all the legal jargon they used kind of scared me. I have all the bank records to prove what I have paid them and I can prove that I have overpaid them. I don't have a copy of my loan documents though and they don't let you access them from their website. My state department of financial regulation has been no help and the AG's office just refers you to the Department of Financial Regulation. Florida really needs to get on the bandwagon with these other states. So you are saying that I should just ignore them?

This statement below was copied and pasted from an email from the FLDFS.

Quote:

Bublefan,

Florida is very good at handling complaints. Please don't get discourage if you have heard nothing back yet. These things take time. I know sometimes it took me two to three months to hear back from my state government agencies. Have you filed a complaint in Delaware?

I filled out all the paperwork, but was waiting to hear their response before I put it in the mail. Thanks Mishele...I just feel like they haven't really been responsive. They requested all of this information from me, and nothing has been resolved from their end. It's just frustrating. I don't want any of these PDLs that I am fighting with to appear on my credit or anything...I'm just worried.

If you already sent them a cease and desist letter and a letter outlining the amount you paid and the amount you are owed according to state law then you really have no other choice but to ignore their phone calls especially if they are calling a bunch everyday. Unfortunately, you are in a stalemate unless one of the two parties decides to sue because the letters really mean nothing but their phone calls really mean nothing too. It would be nice if you could hit them with the fair debt collection practices act laws but I think they only apply to collection agencies and not the original lenders which basically makes a cease and desist letter mean nothing. I would set a limit on the number of calls you take a week from them and answer that many and state the same thing each time they call. The object is to limit the amount of stress you get from them since that is their entire game. They know that they can not get money from you legally so they harass you and screw with your bank account which is in a grey area.

I would still follow up on outside sources that can help you with this mess. I would contact both states AGs until I got someone that was willing to help. You might also consider filing a report with your local police department for checking fraud. You denied these guys access to your account yet they still try to take money out of it. Once you have a copy of the report send it to them and see what they do. Other than allowing you to file a report I doubt the local PD will do anything. Also everything you mail to them should be with certified mail return receipt requested so you have proof that they received your letters. Keep copies of all letters and receipts. You can file a complaint with the BBB as well but they only keep records of complaints and have no legal authority. Most people using PDL????????s do not check the BBB before the sign up for these scams.

The bottom line really is as long as they do not sue or file negative feedback on your credit report then you are in the clear. You have really good odds that they will not do either of these. I would consider the $160 dollars you overpaid as stupid tax. Chances are you will be unsuccessful in recovering that money but if you keep at them they may eventually send you a paid in full letter without paying them any more money.

Well luckily they don'y really call me and harrass me. Most of the correspondence has been through email and snail mail. It would be different if I actually did owe them money, but I don't.

They won't report to your credit report . . . The only reporting agency they report to is usually teletrack . . . And that will only stop you from getting more payday loans or other sub prime loans, or rent a furniture type deals . . . . .

Well i don't plan on getting any more of these stupid loans or renting furniture. I just want to make sure they don't affect my ability to get a new car or anything later down the road.

Nope, they won't . . . . These places don't report to the big 3 . . . .

It seems that is changing.

Really? Oh, that is not good news . . . .

Even if they do start reporting to the big credit reporting agencies you can dispute it with the agencies. If you have decent credit other than one or two PDL's the place selling you an auto is going to get you a loan or the mortgage company is going to get you a mortgage. If you show a bunch of defaults on credit cards and late pays on other bills then the PDL's might make it worse though. Personally I do not believe in car loans much less credit cards and especially not PDLs. Sometimes I get weak though and agree to loans on cars. My wife hounded me for a car and I broke down and took out a 3 year on it. Hopefully we pay it off in less than that though. Ideally the only loan you need credit for is a house loan.

Thats the thing...my credit is not the best. I'm in a debt management plan and I have been paying them on time every month, but I don't want these PDL's to show on my credit report, especially since I have already paid them!

I haven't had any show up on mine yet . . . . I wonder if it's the pdl reporting them, or if they were sold to a collection agency, and that's what's being reported . . . . That would make sense to me . . . .

I'm with Dollars and Sense . . . If they do show up, dispute it . . . .

This hasn't taken effect yet. It is something called a thinfile they will use with Transunion. It is safe to say, these incidents won't effect the future as it has not happened yet. Not only will these payday loan companies report so will rental stores, and utility companies. Just another way for subprime lenders to charge more money by loaning to those people who don't have any credit history.