need help with my payday loans!!!
Date: Wed, 06/20/2007 - 22:55
I really didn't think anything of signing or verifying the information. It looked legit. I should have paid more attention because I actually took out four more loans. I checked my bank account and saw not the two loans I applied for but four other companies I had never heard of. The companies I could contact wouldn't accept that I didn't apply for them and insisted that I still owed all the loan fees and interest fees.
Trying to get them paid off has been a nightmare even with the money from the extra loans. It didn't take long for that to get eaten up. Plus trying to pay back the two loans I actually needed. My bank account has been overdrawn now for two weeks. I can't find a webpage to give me a statement as to how much I owe on some of the loans. I can't work anything out with them.
One of the loans is now past due by about a week because it bounced. I can't get in contact with this company unless they call me and when they do call me they just start in on me, demanding to be paid. They called tonight at 9:30 pm a total of ten times in six minutes. I spoke to the guy the first time and told him I was trying to get them paid off. It's past due by a week or so and I'm aware of that. He just kept asking "You'll pay on Friday" not listening to me tell him that I didn't know, but I was trying. I finally hung up on him and did so almost everytime he called back. Once I picked up the phone and asked "What do you want me to do?" To which he replied "You'll pay on Friday." During the two brief conversations I had with him tonight, he called me stupid and a deadbeat and threatened to call my husband at work.
This company sends out an email with a link in it you have to click to renew or they ask you to call in and tell them you want to pay. The only other link goes to a "Change Contact Info" page that has nothing on it but my phone numbers. I found one other link for them, but it goes to a page with a customer service number that is only open 8-4. I have to wonder if that's even them because it was way after 4 when this guy called. I'm scared and I don't know what to do. I don't know how to get out of this mess and I'm not totally sure how I got into it. I know that sounds dumb. I never thought of myself as a stupid person, but I should have done more research. I live in TN and don't even know where to start to try to clean this mess up. Can someone please help me?
What does it mean if a pay day loan place is not licensed in my
What does it mean if a pay day loan place is not licensed in my state? Everyone of these places I have researched is not licensed in my state. I know I'm probably asking really dumb questions, I'm trying to sort through the information and some of it just doesn't make sense.
Since these places aren't licensed in TN, does that mean I can use that as leverage to get some breathing room so that I can get to a place where I can pay them back?
What companies did you borrow from? And how much have you paid b
What companies did you borrow from? And how much have you paid back to each company in so called fees? This will help us to help you!
ameriloan, CMG Group, United Cash Loans, BIG, Apollo Funding. Al
ameriloan, CMG Group, United Cash Loans, BIG, Apollo Funding. All of those loans were for $200 and it looks like (from my dh's notes) that we still owe that much even though we have paid about three weeks in renewals for each of them at $60 a pop.
Payday OK $500 borrowed still owe about $500. I took this loan out months ago and still haven't made any headway on it.
I'm sorry. I forgot to put in my user name in the last post.
I'm sorry. I forgot to put in my user name in the last post.
I don't if I mentioned I'm in TN.
You need to close your checking account today. Since this all h
You need to close your checking account today. Since this all happened within the past few weeks I would file fraud charges with the bank too and try to get all the fees returned and all the payments that you made to these companies reversed. I do not know TN law but maybe someone on these boards does or you can contact the TN AG or the TN office of finance. If you are correct about these companies not being licensed in TN chances are they are operating illegally there. Once you close your checking account you will need to keep a close eye on it to make sure the bank does not force it open and charge you more fees.
I think BIG is part of cash today limited and I suspect maybe one or two of the others is affiliated with them too since you got them all as a package deal it sounds like. Those guys are criminals and are operating illegally inside the U.S. I would not pay them another penny even if you have not paid all of the principal.
Do not be scared of their threats. They will come up with all kinds of them if you bother talking to them on the phone but they mean nothing. I would not even waste me time doing that. It is highly unlikely that you will even be sued by these jokers especially since they are probably operating illegally in your state. If they call hang up or do not answer at all. There is absolutely no reason to talk to the same collector 10 times in one day.
You need to write some letters to each of these companies statin
You need to write some letters to each of these companies stating you revoke your authorization to debit your account, contact you at your place of employment or your employer, and any wage assignment. Send these by email and/or USPS certified mail with return receipt. Keep copies of these letters also. Take a copy of the letters for each company to your bank and explain the situation to them so they can make sure no debits come out of your account. As was suggested, do close your account and reopen another one. If you use the same bank talk to them to make sure that the 2 accounts are not linked and that those debits will not hit your new account. Check out your state law. You do need to repay the balance and what the state allows as far as fees go, but nothing more. Do not give these people your new account number! Send them money orders if at all possible. Do not be afraid of their threats because that is all they are is threats. They are not going to come arrest you or anything like that. Do prepare yourself for phone calls and some rudeness from these people. But hang in there, you will get through this. Many of us have been and still are going through what you are. It will get better
I called my AG's office and spoke to someone in the consumer div
I called my AG's office and spoke to someone in the consumer division. She told me since they weren't licensed; they couldn't really help me. This BIG, the jerks that called me last night, it's almost like they don't even exist. I couldn't even give her a physical address.
The only thing I have is that stupid 877 number that doesn't even really work. I've only been able to talk to them when they call. You can't even reply back to their emails. I'm so frustrated. How is it possible for them to seem not to exist?
Check out this link http://www.debtconsolidationcare.com/payd
Check out this link
http://www.debtconsolidationcare.com/paydayloan/behind-bills-1.html
It's from another user from TN . . . Once they started going, they got to PIF's on the first day! It isn't always that easy, but it may help to motivate you and show that there is a way out and it can be done!
Also, from the TN banking dept on calculating interest:
You will find the Payday loan laws for Tennessee here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
Have you tried checking the Better Business Bureau website. You
Have you tried checking the Better Business Bureau website. You can look these people up by their phone numbers, addresses, websites, etc. That might help you find an address for them. You can also file a complaint with the BBB. Also you might put their name in the search box above and search the forums. You might be able to find some more info on them
BTW - As others have said, you need to close your bank account.
BTW - As others have said, 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.
Quote: I called my AG's office and spoke to someone in the consu
Quote:
I called my AG's office and spoke to someone in the consumer division. She told me since they weren't licensed; they couldn't really help me. This BIG, the jerks that called me last night, it's almost like they don't even exist. I couldn't even give her a physical address. The only thing I have is that stupid 877 number that doesn't even really work. I've only been able to talk to them when they call. You can't even reply back to their emails. I'm so frustrated. How is it possible for them to seem not to exist? |
That????????s the entire Cashtoday limited (aka BIG) scam. They want direct access to your checking account and really have no intention of letting you pay them back. That is why they do not bother giving you accurate information to contact them. That is why they call multiple times late at night to simply harass you. That is why they call your work place over and over.
The only question you really need answered from your AG is if IPDLs are illegal in your state which they probably are. Your AG will not be able to help you in any other manner because these companies are typically off shore in places that our government can not touch them. This works in your favor too though because they can not touch you as well. It is impossible for them to sue you much less act upon any other threat they might come up with.
BIG is part of Cashtoday limited. They are operating illegally in the US and can not sue you. They are very difficult to work with. The rest of them I am not familiar with. Use the search function on these boards and you will probably find information about how easy they are to work with, if they settle on loans and their contact information. Again do not be afraid of any of them or their threats. If they are operating illegally in your state they can not sue you without losing.
Follow 2nbands advice. He covered the bases of what you need to do with your bank and what you are morally responsible for as far as the loan goes.
Tormented lives in TN, where pdl's are legal, but regulated.
Tormented lives in TN, where pdl's are legal, but regulated.
DollarsandSince - 2nband is a woman . . . . :D
Tormented - Be sure to ask your bank about their ach policy on c
Tormented - Be sure to ask your bank about their ach policy on closed accounts when you go to close it. I detalied it in a post above, but it really sucks to think your bank account is closed, only to learn a few weeks later that you owe the bank $1000's . . .
Dang the picture of Tim McGraw fools me every time. I????
Dang the picture of Tim McGraw fools me every time. I????????ve seen others state she is a woman too.
My question was if Internet PDLs were legal in TN. I live in KY and they are not legal here. In KY each PDL has to be licensed individually. Then the PDL has to have a hard copy of the check that the loan was made on in the amount due after interest. They are not allowed to withdraw money electronically unless that check bounces first. They are not allowed to file charges or sue if the check bounces according to our state laws. That is a risk that the PDL takes when they get licensed here in KY. Basically IPDLs are illegal here because KY will not license them unless they take written hard copies of a check and do business without ACH in other words KY will not license a PDL unless they have a storefront in KY. Since they are not licensed and legal here the loan becomes void whether you paid the principal or not. They can not sue here for the principal because they were not licensed in the first place and according to KY laws they could not sue to begin with. Morally I think you should pay back the principal amount that was loaned but legally you would not be liable for it in the state of Kentucky.
The above is based solo on information I received from the Kentucky department of finance. I suppose if one of these things ever made it to trial a judge could be funny and find in the favor of an IPDL but to my knowledge it has not happened yet here. Also I am not a lawyer and either are the people I talked to at the Kentucky department of finance but they did refer me to the section of code that refers to this and went over the above with me.
Yeah, TN isn't like that. That part of KY law about having to h
Yeah, TN isn't like that. That part of KY law about having to have the check is kinda cool. I didn't know that . . . . A lot of the DFI's will say that when the loan isn't legal to begin with, you don't legally owe them anything. I too think that you should pay back at least the principle amount, on morals.
What are TN laws regaurding IPDL's especially if they are not li
What are TN laws regaurding IPDL's especially if they are not licensed in the state? I would think if they are not licensed and are required to be licensed then you are home free to negoatiate however you want. The link to the laws is blank for TN so I could not look at them.
Does this mean I can't just pay BIG off if I wanted to? I'm stuc
Does this mean I can't just pay BIG off if I wanted to? I'm stuck in an endless loop of renewals? I'm searching the board now to see how others have dealt with them. How do I stop them from calling dh's work? I'm still confused on what my next step should be. This is making me so stomach churningly anxious.
Guest, Register and PM me and I will send you the letter I se
Guest,
Register and PM me and I will send you the letter I sent. I am NO professional at this but I got two PIF's just hours after I sent the letters by email (I followed up w/certified mail)! I will help however I can.
They have to be licensed. And they have to follow the same laws
They have to be licensed. And they have to follow the same laws as the storefronts. TN doesn't have any laws specifically addressing internet lenders.
You will find the Payday loan laws for Tennessee here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
The problem you will find with BIG is you can not just simply ca
The problem you will find with BIG is you can not just simply call them up ask what the balance is pay the balance and be done with them. Their goal is to string you along and suck as many payments as they can from you simply by harassing and threatening over the phone. Do a search for Cashtoday limited on these boards and read about them. Many people have had all kinds of hell from these guys over the past few years. I know there is one post that is 48 pages long and another in the 30s about just this one company. There is also a bunch of smaller posts around 1 or 2 pages long each. This is the company that brought me here. I have a close friend that fell into their scam.
Yeah, the companies from the "UK" are the worst . . . . They car
Yeah, the companies from the "UK" are the worst . . . . They care nothing about any laws, and make it extremely hard to ever pay off the loan.
I talked to my bank and asked if they could stop debits or check
I talked to my bank and asked if they could stop debits or checks coming through and they said "No". I asked them if I could close that account and open an another one and was told I could but if anything outstanding came through the first account, it would go through even though it was closed. They did not seem willing to help at all.
I'm just as stuck as I was yesterday. I think I posted that I called my AG's consumer division and they weren't any help at all because the business wasn't licensed in TN. I just don't know what to do. I mean, I can't keep paying all these charges and if my dealings with BIG has been any indication, the rest of them won't work with us. I haven't paid bills like the lights and water. They are past due. My rent is past due as of today. I just can't take this. My bank account is overdrawn and when our paycheck goes in today, it's gone again. I signed up for two pay day loans not the others that I got, it's unreal this is happening.
I could take out another loan, but that would be stupid. There's a place I found called Cash Call. I don't know what else to do.
Yep ~ definitly a woman here! :wink: Tim is my favorite!!! LOL
Yep ~ definitly a woman here! :wink: Tim is my favorite!!! LOL
Tormented, figure out how much you have paid these people and how much you still need to pay them, including the fees and only pay them that amount and nothing more. goudah provided the information on how it is figured. Hang in there!!!
Taking Charge!
I have three pay day loans with three separate companies that have all been mentioned in this forum.
After reading postings here for two days, I decided to take charge. I closed my checking account so they could no longer debit my account and opened a new one. I and sent all three companies a letter (which I copied from a member of this forum) notifying them that I no longer authorized them to debit my account, that they are in violation of Florida State Statues pertaining to usury and offering to make payment arrangements that 1) I could handle and 2) that would comply with Florida State law (in other words, that I would not pay excessive interest fees,) I also recindded any agreement I may have made allowing them garnish my wages and informed them that they were to dessist from contacting my references, employer or any person other than myself. I expressly told them that were to communicate with me via postal mail only.
I will follow each email with a hard copy, sent certified mail, and stand my ground!
No more threats. No more interest fees compounding daily. No more ACH debits from my account, placing me deeper and deeper in debt! If they want to take action against me, they will have to do so via legal means!
Thank you to ALL in this website who gave me hope, courage and the means by which to stand up for myself!
Shelyd, I did the same thing and the first day I had two PIF'
Shelyd,
I did the same thing and the first day I had two PIF's and today I got another one from Payday2go