My account is paid off but SHW still debits it – I need help!
Date: Tue, 07/17/2007 - 10:50
hi lily- the reason why you cannot find licenses for these peop
hi lily-
the reason why you cannot find licenses for these people in Florida is because they most likely are illegally operating there. You should consider IMMEDIATELY closing that bank account. Notify your bank that the people do not have your permission to be taking this money out and that they are committing fraud. The bank should be able to help you get that straightened out on their end.
As for SHW Recovery, contact the Attorney General's office in your state. Give them all the details. If my math is right, you paid them $300 on a $400, and then they took $600 more. Thats a total of $900 for a $400 loan. I dont see any way that this could be legal. Inform the AG of all of this, including copies of your bank statements and any cancelled checks to prove how much they have taken from you. Then, provide a copy of the contract you signed.
Now, the contract--look it over. There is bound to be a clause in there somewhere about how much money these people can take from you if you stop paying, etc etc etc. The Florida AG can tell you if this contract violates Florida law or not--I would bet that it does.
Below are the laws for the state of Florida. You have WAY overpa
Below are the laws for the state of Florida. You have WAY overpaid that loan. File a complaint with the Attorney General and also the Florida Dept. of Financial Services who is the regulatory agency for the State of Florida. You can find them at www.fldfs.com Copy the CFO Ms. Alex Sink at CFO(at)fldfs.com I just sent her a long email letter today regarding the internet payday loan companies predetory lending tactics and how they are affecting not only the borrowers but the closely regulated storefronts here in the state. I told her that I would have every Floridian on this site file a complaint until Florida steps up to enforce their regulations more aggressively. There was a case won against a IPDL in the Florida supreme court only last year. It took six years for a final ruling. If you need more info please PM me.
You will find the Payday loan laws for Florida here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
Thanks for the info! I have looked at the Florida statutes, but
Thanks for the info! I have looked at the Florida statutes, but I am a little confused about the APR limits for the 14 day loan. Does this mean that they can charge 390% in finance charges for the loan? I read elsewhere in the Florida statutes that the maximum interest that can be charged on a loan is 18 - 25% (see statutes 687.03:
Quote:
(1) - Except as provided herein, it shall be usury and unlawful for any person, or for any agent, officer, or other representative of any person, to reserve, charge, or take for any loan, advance of money, line of credit, forbearance to enforce the collection of any sum of money, or other obligation a rate of interest greater than the equivalent of 18 percent per annum simple interest, either directly or indirectly, by way of commission for advances, discounts, or exchange, or by any contract, contrivance, or device whatever whereby the debtor is required or obligated to pay a sum of money greater than the actual principal sum received, together with interest at the rate of the equivalent of 18 percent per annum simple interest. However, if any loan, advance of money, line of credit, forbearance to enforce the collection of a debt, or obligation exceeds $500,000 in amount or value, it shall not be usury or unlawful to reserve, charge, or take interest thereon unless the rate of interest exceeds the rate prescribed in s. 687.071. The provisions of this section shall not apply to sales of bonds in excess of $100 and mortgages securing the same, or money loaned on bonds. and 687.071: (2) Unless otherwise specifically allowed by law, any person making an extension of credit to any person, who shall willfully and knowingly charge, take, or receive interest thereon at a rate exceeding 25 percent per annum but not in excess of 45 percent per annum, or the equivalent rate for a longer or shorter period of time, whether directly or indirectly, or conspires so to do, shall be guilty of a misdemeanor of the second degree, punishable as provided in s. 775.082 or s. 775.083. (3) Unless otherwise specifically allowed by law, any person making an extension of credit to any person, who shall willfully and knowingly charge, take or receive interest thereon at a rate exceeding 45 percent per annum or the equivalent rate for a longer or shorter period of time, whether directly or indirectly or conspire so to do, shall be guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. |
Which one would this pdl fall under? :? Either way, it looks like I'm done paying them!
The laws for Money Transfer companies as they are referred were
The laws for Money Transfer companies as they are referred were enacted in 2001 and specifically directed at the pay day lenders. They have a 10 percent usury cap with an application fee allowed. A person named wendy Betts filed a suit in 2001 against a payady lender for violiting the state usury laws. Even though the laws were enacted after she took yhe loan the Supreme Court of Florida ruled in her favor. For some reason the FLDFS will not use this case to aggressively enforce the state laws. Thus the purpose for my letter to the CFO and my encouragement to all Floridians caught in the PDL mess to file complaints with the FLDFS. Lets be heard!
You bet I am going to file a complaint with the AG in Florida fr
You bet I am going to file a complaint with the AG in Florida frogpatch! They can't keep getting away with stealing thousands of dollars from unsuspecting people who are just trying to get by. A lot of other states have filed statutes where it is illegal for on-line payday loans to be given in their states but the pdls still do it! :shock: I think that the pdl loan problems is way bigger than the student loan problems!
The AG is good to but do not overlook filing with the FLDFS. Lik
The AG is good to but do not overlook filing with the FLDFS. Like I said above. They are the regulators of the pay day loan companies.
That was me, frogpatch! I didn't realize I was logged out. I hat
That was me, frogpatch! I didn't realize I was logged out. I hate when that happens.
shw recovery
SHW Recovery took out of my bank over 500.00 and they refuse to reimburse me re: the pay day loan I am not sure what to do
First contact your bank to request your money be put back into y
First contact your bank to request your money be put back into your account as it was taken without your permission, then close that account and open a new one. Never give a PDL access to your bank account, they will take everything in it.
I've never had a loan with SHW Recovery, but they have been call
I've never had a loan with SHW Recovery, but they have been calling my new cell phone number non-stop and leaving voicemail after voicemail offering me a payday loan.....
