I need help with payday loans!

Oh my goodness. 10 times????!!! It seems like they would have gotten the message! You said that the company that is harrassing you is not in this country? I think they would be illegal period. But, here are the laws in your state Mississippi (just select your state),
Legal Status: Legal (Applies to check cashers only)

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

You need to send a cease and desist letter, and revoke any ACH/wage assignments that you may have with this company. Do a search in the search field and you will find the letters that you need. Please list the amount of the loans along with the principle and the fees that you have paid for each. I wouldn't worry too much about the pdl that is operating outside the US as this is illegal most likely. Hang in there someone will be along to help guide you through the rest of the process.

ladybug

Thank you both so much for the help.

On the letter, ladybug....do these letter do the trick in the stopping of the calls? Can any of them do garnishment of wages against you?

Also, you said please list the amount of loans along with the principle and the fees I have paid for each..

CashNet $350.00 (pd $315.00 so far)
ThinkCash $250.00 (pd 68.23)
Premier $ 200.00
Paycheck Today $200.00
BIG Ltd $200.00
NLS-CashAdvance $325.00

This man from BIG even demanded that I put my boss on the phone so he could tell her about my debt to them because he was mad that I told him he couldn't call at work. His actual statement was "I will call you all day long, actually I have no work to do and I will do that".

And what do I actually do with the "Law" information that was given?

Sorry, if I sound so uneducated about all of this...but I am.

Here is some quick advice (I'm an attorney).

FYI, no matter what you owe, they are not allowed to harrass you, it is illegal, plain and simple.

Second, where are they overseas (i.e., a country with sound acceptable business laws or one with a bad record as being a haven for businesses with illegal practices)? An example of the first would be most industrialized countries (Western European countries and Japan, for example) and an example of the second would be most Caribbean countries (who are notorious for allowing illegal practices - for instance, cruise lines are legally incorporated there because their laws allow for things such as, if a death occurs onboard the cruise ship, the cruise line is not liable).

Do they have any offices anywhere whatsoever in the US or do they conduct business in the US? If they do, then it is irrelevant that they are based overseas, they do business in the US and are therefore subject to the laws of the US (principle that they have availed themselves of the privileges of the US, they are subject to penalties as well).

HTH

Actually I have no idea where at overseas that they are located. I have been told that they are overseas by someone else. Their accent sounds to be "British" but yet with a "Middle Eastern" sound to it. I have no idea!

Their phone number is 1-877-283-6744 BIG Ltd

How do I know what I am expected legally to repay? I DO want and intend to pay what I owe.

Companies cannot do wage garnishment against you on their own iniative. But, the payday loan companies, which are predators plain and simple, may have put something in the contract when they issued you the money giving them permission to get wage garnishment.

Now, even when this is not the case. Wage garnishment is always a possibility once a court gets involved, because although a company cannot directly garnish wages, a court can order it to be done if that is the best way to recoup what is owed to them.

But FYI, and this is a great thing for everyone to know. PayDay loans contracts are known as adhesion contracts, they manipulate their greater bargaining power to the point of unconscionablity, and it's an all or nothing sort of contract, where it wasn't bargained for or negotiated. Courts HATE adhesion contracts. So while you may feel powerless right now, know that everything isn't working against you. You will be able to resolve this, and if this ends up in court, they will likely not be the favored party because they greatly took advantage of the situation. Courts hate adhesion contracts but I guarantee that they hate PayDay loan companies even more because not only is it a predatory company it is a predatory company using predatory practices. Not a good combination when you get to court. PayDay loan companies count on consumers knowing absolutely none of this.

Good luck, I hope all of this is resolved for you in the near future.

Are you assuming they are overseas because the people who are calling have accents or because you have actual knowledge they are overseas?

If it is because they have accents, I would bet money (and I don't have any) that you are dealing with a US company, they just have outsourced some of their work, which means, they are 100% bound by US laws and CANNOT harrass you in any manner.

I have no ACTUAL knowledge that they are overseas...I had read somewhere in another forum that they are located overseas.

I only have a name and a phone number. How do I get the information (ie address) to send the cease and desist letter? They are so suspicious anyway when you call them asking questions.

Have you requested an address before and they have not given one to you? If so, that is beyond shady and again, illegal.

If this isn't the case, request an address where you can send correspondence. If they give you any problems, ask to speak with a supervisor now (if they tell you to wait, tell them - No, I want to speak with someone NOW). You may have to wait a minute or two, but that should be it. And while waiting, tell them they must stay on the line with you until the supervisor speaks with you.

Ask the supervisor for their name first, full name if possible. Then, request the address from the supervisor.

If you still don't get it, then I would send the letter to whatever address they have given as the payment address.

Also, I am never shy with telling a supervisor point blank, that they are harassing me, that I will report them to the FTC and the state attorney general, that what they are doing is illegal, etc. But this is a personal perference, and quite in line with my personality. Truly not a legal tactic on any level, but a personal one (and yes, it's effective). But again, that is me, and me alone, not legal advice, unofficial or otherwise at all. In fact, everything I have written in this particular post is personal knowledge from experience not learned from studying the law.

Here is some unofficial legal advice (the only I've given in this particular post) - Throughout all of this, I must stress, DOCUMENT EVERYTHING!!!! Dates that you called, who you spoke to - their names and positions, did you just talk to a customer service rep or did you talk to a supervisor or a manager. Also, document the frequency with which they are calling you and the times they are calling you. If you have caller ID and know their number, take note, that's a great way to keep track. The frequency with which they are calling you (twice a day as opposed to eight times a day) shows evidence of a tendancy toward harassment.

BIG is located overseas. I believe they are in the UK. Either that or Malta. I get them confused when they're overseas. No, you're not assuming they are overseas. They are. And they will harrass you. And they will attach a "wage assignment". It's not a wage garnishment. You need to send them/fax them/email them a letter revoking any wage assignment you may have signed with them, their partners, or any affiliates. You need to do this now before they send it to your employer. Wage assignments are voluntary on your employers part. However, a lot of employers do not know this. Send BIG the letter revoking any wage assignment you may have signed ASAP before they send one to your employer. Keep a copy, give a copy to your payroll department, and mail a copy to them.

Hi NUWildcat

Our community will be happy to have you on the board and share your valuable suggestions. You have a great amount of knowledge to share with everyone. Can we have you as a community member here? It will be highly appreciated.

Regards
Mike

Thank you so much NUWildcat and cannr for the information and advice. I do appreciate it.

where do i send a revoke of assignment because i am dealing with these people and they just called me today threatining me with this ...

thanks