overpayment

hello ditcher - welcome to the site!

We will need to know a few things in order to help you:

-what state you live in
-what company this loan is with
-whether this is an internet or storefront loan

Armed with that information, one of our members can give you some solid advice.

hi i live in tenneesee and the company is sagamore and it was an internet loan.

Tennessee State Information

That's the payday lending law for Tennessee. If you go to paydayloaninfo.org, click on "state information", then click on Tennessee on the map that comes up, the links for the Licensee Database, Complaint Form and Complaint Form Instructions for your state are there. A brief review of the "S" section of the Licensee Database did not show any listing for a "Sagamore", but I would recommend you do more research on that to be sure.

According to the law shown above, I would say you have overpaid already, since your state does not allow rollovers, and it would appear that this company has allowed you to rollover or renew this loan several times already.

so how do i go about getting them off my back

Ditcher...at the beginning of this forum there is a message link about your bank account..you will have to send a letter to the ipdl revoking their right to debit your account(stating your state laws and asking them to close your loan) and then talk to your bank about blocking the debit. You would either have to have them block the user ID of the company or put a hard debit block on it so no ach debits can make it through. Most of us here had multiple ipdls and ended up having to close our accounts before we could get them to stop. Every bank handles this differently it seems so it is very important to have good communication with them or you will end up with multiple nsf charges. Plase research the ipdl as I don't remember ever seeing one named sagamore on this site...

ditcher, you need to be sure they are not licensed in your state. I'm sure they're probably not. If this is the case, as morningstarr posted, you need to stop them from debiting your account. Do not let them get any more of your money. Read the link at the top on how to go about closing your account. Or block the account from debits. Then we can move on to contacting this pdl and see if we can get that taken care of and possibly with a refund! :D Please take care of the bank account first. This is a must. Or else this pdl will continue debiting it. Please post any questions. We are here to help!

okay i told my bank to stop payment so they wont get anymore money. they are supposed to take it out on 08/09/2007 so they should try to contact me after that. what should i tell them. the bank wont allow the debit to go through without costing me any fees or nsf charges.