Help Please, 8 Payday loans Can I consolidate

P2, You have come to the right place. Please tell us what companies you took the loans from, how much each loan was for, how much you have paid back( fees and principle), if they are internet loans or store front, and lastly what state you reside in.

All Internet Loans
I reside in Washington DC

500 Fast Cash $200 Loan = $300 Fees $50 Princple

World Wide Cash $200 Loan = 267.00 Fee $0 Princple

National's Payday Loan aka CashAdvanceMail.com $350 = $424 Fees $0 Principal

United Cash Loans $250 = $300 Fees $0 Principal

Pay Day Services $300 = $450 Fees $50 Principal

TJF Corp $300 = $630 Fees $0 Principal

Apollo Funding $250 = 525 Fees $0 Principal

National PayDay (http://www.nationalpayday.com/) $400 = 429.80 Fee Prinicpal 286.00

You will find the Payday loan laws for Washington here (just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I have posted your state laws, and it looks like none of loans are legal in DC. The law ststes thatonly check cashiers are legal.It looks like to me , you have so overpaid . The first thing to do is read the stick regarding closing your checking account so the s IPLS can no loner take your money.Open a new account at a different bank. Start on your letters.You will need to send letters to the BBB, and your AG. You will need to start writing to these IPDLS and state the fact that they are not legal in your state, and that as far as the law goes, you are paid in full.
Some one please step in here if my info is not correct

They must be licensed to loan money in DC, and DC only licenses businesses that also cash checks. Since none of these pdl's are check cashers, they would not even be eligible for a license.

Kash - Don't foreget p21 needs to add the statement revoking any wage assignments they signed or may have signed. Which you can explain better than me.

Thanks Roxy
P2, Please send to your Ipdls a letter revoking any and all wage assignments that you may have signed. Not all pdls have this, but some do, and it is better to be safe than sorry.
How wonderful you must feel , coming here trying to consolidate, and finding out that the very companies that are taking your money , actually owe you money.
Stick with us, and we will help you any way that we can. we have all been there. You will receive calls from these companies. Some will even threaten you with jail, or say they are the FBI !!!! Dont get nervous, they are all illegal threats trying to force you to pay more money. These companies are illegal, so there is nothing at all they can do to you. My God they dont have licenses, you now know your state laws.we all got scared when we first got these calls, but now we know there is nothing they can do.Just stick to your guns. This will end

DOes anyone have a sample copy of a letter.

http://oag.dc.gov/occ/lib/occ/check_cashers_act.pdf

Thank you all for you help, Just go to stay strong

P21, there are samples of the letter Kash is refering to in the do it yourself section at the top of the page. Welcome to the fourm, the people here are great. If you need anything just ask and someone usually comes along pretty quickly to help.

Thanks Roxy, you beat me to it

Any time :lol:

Hmm which one of these can I use as a template

Contact Letter to Credit Companies
Follow up Letter to Credit Companies
Request Letter for buying Credit Cards
Verification Request Letter to Credit Bureaus
Santacruz Resident Full payment Letter
debt validation Letter
Debt Validation Followup Letter - 1
Debt Validation Followup Letter - 2
Request Letter to stop contact
Request Letter for Credit Denial Reasons
Request Letter for name removal from mailing list
Request Letter for removal of listing
Request Letter for the removal of wrong information
Request Letter for removal of inquiry from credit report
Request Letter for Debt Verification
Notice of intent to file a lawsuit
Unsolicited Offer Letter - 1
Unsolicited Offer Letter - 2
Counter Offer Letter for debt settlement - 1
Counter Offer Letter for Debt Settlement - 2
Offer Letter with alternate Payment Strategy
Letter of acceptance of the verbal offer for Debt Settlement - 1
Letter of acceptance of the verbal offer for Debt Settlement - 2
Debt Settlement Agreement -1
Debt SettlementAgreement - 2
Request Letter for updation of Bankruptcy Account
Request Letter for Credit File

Who stole 49.99 from my account? Was it you? (just kidding)

p2, you need to re-post your payments. You have put the pdl name (good), the amount borrowed (good) but when you posted the amount paid back - you put "fees" or whatever or "principle". No. Do not do this. You need to put exactly what you have paid so far total on each one. Do not break it down into "fees" or "principle" . We need really to know what you borrowed and what you paid so far to know exactly what you've paid over/under/whatever. Can you do this? We can figure out the correct amounts so that you'll know & also have the correct amounts when you send your letters and file your complaints. This is very important to get the correct amounts. Thanks! :D

500 Fast Cash $200 Loan = $350 Paid

World Wide Cash $200 Loan = 267.00 Paid

National's Payday Loan aka CashAdvanceMail.com $350 = $424 Paid

United Cash Loans $250 = $300 Paid

Pay Day Services $300 = $500 Paid

TJF Corp $300 = $630 Paid

Apollo Funding $250 = 525 Paid

National PayDay (http://www.nationalpayday.com/) 400 = $715 Paid

p2 - Have you done anything regarding your bank account so that these people can no longer debit? You have way overpaid every single one of these.

500 Fast Cash - borrowed 200/paid 350/OVERPAID 150
World Wide Cash - borrowed 200/paid 267/OVERPAID 67
United Cash Loans - borrowed 250/paid 300/OVERPAID 50
Pay Day Services - borrowed 300/paid 500/OVERPAID 200
TJF Corp - borrowed 300/paid 630/OVERPAID 330
Apollo Funding - borrowed 250/paid 525/OVERPAID 275
Nat'l Pay Day - borrowed 400/paid 715/OVERPAID 315

Today Was the first time I actually went looking for something. I was originally looking for a consildation loan for this stuff, but I'm interesed. Should I CLOSE my account or talk to me Bank saying I have overpaid these accounts and I want them Blocked ?

Today Was the first time I actually went looking for something. I was originally looking for a consildation loan for this stuff, but I'm interesed. Should I CLOSE my account or talk to me Bank saying I have overpaid these accounts and I want them Blocked ?

If your bank can provide you with a written promise to not allow any unauthorized withdraws, then take that route, but if they can not guarantee an unauthorized withdraw, then you must close the account, and open a new one with a different bank, a completely, unrelated bank. Most payday loan customers end up having to open another account. If they place a block on your account, be sure it blocks ALL withdraws, aside from your own, because these crooked companies use different names to bypass blocks.

When are your pdl's due to hit again? You need to close your account. None of them will be licensed in your state. Your state is like mine. Only store front pdl's. So we aren't even going to check. You need to close your account if at all possible before the pdl's hit. If you can't CLOSE it without them promising it won't be "forced open" due to pending pdl debits, you need to have them put a "hard debit block" on your account. This means NOTHING will go through. You can't use your ATM card, write checks, etc. You will have to physically go into the bank and take out money - make sure the block is still on - then leave the bank. It's an inconvenience, but if that's what they have to do, then do it. Do not block just the pdl names. They will change their names, their debit amounts, their dates, etc. They do this to get their money. It needs a hard debit block or be totally closed. Read the "sticky" at the top of this site page regarding closing your account. If you have any questions regarding it, just post. Once we get your bank account taken care of, we're going to send some letters and file some complaints. Do not let these pdl's get any more of your money. Please read the "sticky" above, post any questions. If you have money now, go to a new bank and open a new account. Different bank. New account. Never, ever give your new account information out or the pdl's may find it and debit your new account. Post ANY questions.

Yeah....what she said... :)

LOL, birthday boy! :lol: I saw we posted at the same time!

They are slated to take money out Sept 14th. After I close my accounts will I expect them to call my place of business and send me over to credit collection companies ?

They will do whatever it takes to scare you into paying, even though, they will be violating federal laws; so if it is legal, prepare a recorder on your phone. If they threaren arrest or impersonate an officer or lawyer, be sure to record them saying it.

After closing your account and making your money safe again...you can send them letters revoking their right to debit your account, revoking any voluntary wage assignments and demanding they contact you by email only. Use Cannr's guide to how much you have overpaid and ask for refunds...you may not get it but it's worth a shot. And ask that they mark your account paid in full.

Then file complaints with your state's attorney's office, the BBB and the FTC...this can also sometimes help to mediate closure of the accounts. Let us know what else you need...

Hi everyone
Thanks for jumping in, I am still kinda new at all this, so your input is appreciated.
Yeah cannr I mean you. I did the best I could. im sure P2 is on the right track
thanks Morning
Anthony Happy nirthday, and yes it was me who took the 49.95 out of your account.

Listen and follow the advice of the people here. After closing our checking account and working very closely with our bank, things are better for me. We actually had an influx of cash and my husband made me pay all of ours in full. Most of them I negotiated only paying the principle since I had already overpaid in fees. After writing letters to BBB I am starting to see some refunds from these companies. I got one today for $350 worth of overpayment (according to KS laws) on a $200 loan.

Moral of the story. You can do this with a little work and stick to it! The light is at the end of the tunnel.

Hope

p2, you've got time before your pdl's hit your account again. Your best bet, in my opinion, is to close your existing bank account and open a new account at a completely different bank. In my opinion (once again), it is not a wise choice to just block the pdl's. They will change names, change debit amounts, change dates, etc. in order to get money out of your account. If you put a hard debit block on it, you will no longer be able to use your ATM card, write checks, etc. You will have to physically go into your bank, get money out, be sure the block is still on there, etc. Pain in the butt. You do whatever suits your situation best. I'm just giving my opinion. If you choose to close your bank account (and I'm saying it's in your best interest - but who am I?), please read the "sticky" at the top of the site page regarding closing your account. If your bank can not guarantee that pdl debits will not "force" your account back open, then put a hard debit block on it so nothing goes through. Nothing. Either way, you still should open a new account at a new bank so that you will have access to money. To deposit, to write checks, etc. So open a new account. You're pdl's are illegal. If they were to turn you over to collections, the majority of them have "in house" collections - it's them - just a different department. Illegal still. If they so happen to turn you over to an "outside" collection agency, it will most likely also be an illegal company. And illegal pdl would be pretty darn stupid to turn over an illegal debt to a legal collection agency! Even if that were to happen, all you would have to do is request a debt validation. This means the illegal pdl would have to valid their illegal transaction. How funny is that? So do not worry about that. The majority won't even do any of this. You have overpaid every one of your pdl's. You need to stop the madness. Which means - not letting them have access to your bank account any longer. Please post with any questions. As you can see, we are all here to help you. :D

Thank you so much. I'm going to open up a new bank account on tuesday. I will go to my bank also and make sure they close my checking account, do you think I can leave my savings open ? Also ask for teh Hard debit. Thank you all for you help, I will keep you all updated. Man I think it so crazy how I can just keep getting sucked into PDL Debt, I guess the answer in the future is better budgeting, hard to do now, once this is behind me no more PDL. They are the biggest mistakes you can make.

p2 - I'm glad to hear you decided to open a new account. Go to a completely different bank. It's just safer. Regarding your savings account, ask your branch manager about that one. When you go to the bank, speak with the branch manager, not a teller. Learned the hard way. Only deal with the manager. And, go to the branch where you opened you account. Not a different branch, to close the account. Tell them you want it CLOSED. Tell them to be sure no pdl debits will "force" it back open. If the manager can not PROMISE this, tell them to put a hard debit block on it so that NOTHING goes through. I'm concerned with your savings account. If you speak to the manager, ask them if they can assure you that your savings account will NOT be touched if anything hits your "old" checking account. Actually, some banks will do this. However, we also advise to get something in writing from your bank saying your "old" account will not be forced open/no debits will go through/etc. In your case, I would try to get some kind of documentation regarding this, as you do NOT want any more of your money taken! And also address the savings account. If the manager tells you that the savings account will be "safe", get some kind of documentation stating this. This way, if something happens (and it does happen) to where your account gets hit again or the pdl's find your savings account - you will have documentation to take back to the manager and get all those debits/fees reversed back off. If you have any problems, come back and post. We can help. And if you have any questions, please post. We're more than happy to help! :D

I have a questions I was reading the contract for one of my loans and I saw this line.

Governing Law: Both parties agree that this Note and your account shall be governed by all applicable federal laws and all laws of the jurisdiction in which the Lender is located, regardless of which state you may reside, and by signing below or by your electronic signature, you hereby contractually consent to the exclusive exercise of regulatory and adjudicatory authority by the jurisdiction in which the Lenders is located over all matters related to this Note and your account, forsaking any other jurisdiction which either party may claim by virtue of residency.

What does this mean ?

Blah Blah blah. They are trying to make you believe that they are legal.Its just a bunch of mumbo jumbo. I think all of them have something similar to that.

p2, disregard that "paragraph" they state on their contracts. That scared the crap out of me when I saw it. It's not true. It's especially fun when you get the overseas pdl's that claim you have to abide by the laws of the UK or Malta or wherever. And it's usually the unlicensed/illegal ones that will argue with you over this. Do not pay attention to it. You're fine. They conducted business in your state, with you in your state, funded the loan to an account in your state, and debit the funds from your account in your state. You abide by YOUR state. If you have any more questions, just post! :D

Wow that was quick. Apollo Funding has sent me an e-mail saying my loan was paid in full. All I did was Fax and e-mail them my letter today. And within 2 hours it was paid in full. Still closed my Bank Account incase they try.

p2! Awesome! :D Gives you that little extra push to keep going, doesn't it? I'm so glad to hear you got a PIF! Good job! And, I don't blame you for changing bank accounts. These pdl's are very sneaky. You keep us updated! You are on the right road! :wink:

Just got a letter for TJF Corp

"Your finance charge of 0 has been teruned to us by your bank due to user discretion on 9/6/2007. We are unable to obtain the fees owed to us against your loan by ACH debit. Your account is now in collections and has been turned over to an Outside Collection Agency. Additional fees will be assessed to your current balance of $300 by the Collection Agency. They will be contacting you to make futher payments and/or arrangements to resolve your loan with TJF Corp. and/or Bahamas Mark."

p2, is this pdl an unlicensed/illegal one? If so, their "outside collections" will probably be illegal also.

Can
They are unlicensed/illegal in my state.

opps forgot to Login, TJF Corp is unlicensed/illegal in my state

p2, expect to be harrassed then. Whenever they contact you, and they will, try not to take their telephone calls. Once this "collection agency" contacts you, try email only. Request a debt validation letter. They might "disappear" after receiving that request. Most illegal ones will. However, others will threaten you to death with (of course) illegal threats. That's why I say - try not to take the phone calls. See if you can only corresponde via email/USPS. But, ask for a debt validation. That might put them in a "spin" for a while!

Great advice. ON the Good news front World Wide Cash has joined Apollo Funding in marking my loan as paid thats 2 less to worry about. 6 to go now.

Terrific work. 2 PIFS in such a short time. I am so glad that you found us

TJF Corp has sent my account to ICollect which is a collection company that has the same person who does recording message for BMG and TJCorp, I need to contact them from now on.

p2, just remember that they are unlicensed/illegal, okay? They're going to throw on outrageous fees and such. Stand your ground. If you need any help, just post! :D

As Cannr stated; they are unlicensed to collect, so don't fall for their bull$hit. They may threaten with arrest, or pretend to be lawyers, and may even get as low as to tell you that you have committed all kinds of white-collar crimes. All of these tactics are illegal, and if you are subjected to any of these practices, be sure to file online complaints with your Attorney General's Office.

Well today is my first payday though most places try to hit my account on friday. NLS, Nationalpayday.com and World Wide Cash hit today normally. However they can't closed bank account :-). Weird thing, NLS doesn't have an account for me, do you think they deleted me. I called to make sure they got my letters, faxes and e-mails. They told me my account didn't exsist. Also here is a communication I recieved from NationalPayDay.com

Quote:

p2, It sounds like you are on your way. It is so exciting that first pay day and the second one..even better. Knowing that you are finally in control. I hope the rest goes well for you. Keep us posted.
Roxy

Communication How should I respond

Quote: