Help in Nevada for PDLs

guest, I am posting the Nevada state law for us all to see. We need to know; however, are these store front loans? Or are they internet loans?

You will find the Payday loan laws for Nevada here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Hi,

They were all internet loans. Check City also has storefronts here but I got the loan on the internet.

Smoking, Is the amount listed what your fees are each time or the total of what you have paid on each loan? If it is the fees, could you please post the total amount you have paid on each loan.

Cashnetusa
1600 W 7th St
Fort Worth, TX 76102-2504
Fax: (817) 335-1100

I need to know what address your internet Check City is using, if you have it.

Also, looks like PayDayOK and PayDaySelect are one in the same. However, they have addresses in both Delaware and New Mexico. Do you know which addresses you are dealing with?

Hi All,

Am at work, didn't want you all to think I was ignoring your questions. I have had the paydayok, paydayselect & cashnetusa loans as a revolving door for over a year so it will take me some time to calculate how much I've paid them (a very scary number I'm sure).

I would estimate that the first three I've sent them over $2000 each (wow :( ) and the Check City would be about $900 at this point.

Ok.. both paydayok and payday select are in Deleware

Check City Online
P O Box 970028
Orem, UT 84097

Hi smokinjbc. The good thing is they may not be legal and you might be able to get some refunds. At the very least, when you shut down your account, you will be back in control of your money. Let me just tell you, it is an awesome feeling. :-)

So.. how would I find out whether those places are legal

http://sandgate.co.clark.nv.us/businessLicense/businessSearch/blindex.asp


Give this a try....

Hi...

Since I have to act on this this week, I'm going to run my plan by everyone. This is assuming that the loans are legal btw.

I will prepare letters that revoke ACH authorization from all three companies. I will fax those letters and also send them by certified mail.

In those letters I will also state that they are only authorized to contact me by email or in writing and prohibited from contacting me at my job or on my personal phone.

Armed with copies of these letters, I will go to my local B of A branch (has anyone had a good experience doing this?- what approach did you take-I've had nothing but good experiences thus far with B of A) and close my checking account and ask for a hard freeze? or block on the account. I will have my payroll changed to paper check.

I still have a visa and savings account with B of A and I do not plan on re-opening my checking account for some time. If things go smoothly with the loans, that is they work with me on a reasonable payment plan, I will restart my direct deposit into my savings account.

My primary concerns are harrassment at work. My bosses are great but I will be really embarrassed if I get multiple, harrassing calls. My other big worry is that the bank will not cooperate with the closed accounts and will charge me a bazillion bucks in fees and/or honor the debits.

If they do that, and I can prove I sent the letters that revoke authorization to debit, will I be entitled legally to a refund of those fees? I want to maintain a good relationship with my bank, and I don't want to be owing any more money that I already do.

About 5 months ago, I almost did this and I went so far as faxed the revoke letters to Payday OK and Payday Select. Their response was to extend my deadline for 5 days and I panicked and did not go through with the account closure. If they have the same response...should I ignore it and wait for the debits to go to the closed account or should I handle it another way?


Would it be wise, in the letters, to challenge the legality of the loans, when I'm not sure if they are or not? I have a feeling they are legal.. maybe because that would be just my luck.

Thanks for all the help and thanks VolleyBall Mom, will chcck that out too

Ummm...ok. Lots of questions here and I can certianly help :)

1-Would you like a form letter that many of us have used?? I can PM it to you...just say the word.

2-I am checking right now on your PDL's....hold please. be right back.

None of them have a license except for Check City....

Have you only paid one roll over fee on each of these?

When are planning on going to the bank? You should go asap, and ensure there is a hard debit block as well as the closure of the account to ensure it will not "reopen" when the pdl debits hit.

Based on your laws, they cannot extend past 60day term period...has it been 60 days or longer?

I've paid countless rollovers and have renewed them several times. I will try tomorrow to calculate exactly how much. Yes, I would really appreciate it if you could PM me the sample letters.

I do not have enough time to stop it before my next payday, which is Wednesday. I will have one insurance payment that I have to wait to clear, it should post by 10/4. So 10/5 at the earliest or Monday, 10/8 which will give me 9 days before my next payday.

Hi...I will PM you the letter in a few mins. Just PM me back and let me know you got it.

Well hey, you will have your whole paycheck back soon enough!! :) I am now on my 3rd full paycheck since my pdl issue and let me tell you...its awesome!

The challenge here is going to be that NV laws have no limit on the apr or Finance fees, BUT if they have extended the loan for longer than 60-days, That is your leverage.

Please let me know if you have any issues with the bank...I can give advice on that too.

ok.. I found the State of Nevada Directory, only Check City and CashNetUSA are licensed. Is it possible Payday Ok and Payday Select are under a different business name?

Sorry.. so many questions but on the Cashnetusa site, they state that a client cannot revoke ACH authorization because its supposed to be a one time payment?

Hi there....yep, wrong site I sent.. I am so sorry. but yes, confirmed what you discovered tht cashnetusa and checkcity are licensed.There is a cashnetusa which is licenses in most states and then cash net which I believe that a alot of people have problems with...I think I was thinking of just cash net.

Got your PM...and I will respond directly back :)

When you open up a new account make sure it is at a totally different bank. You do not want to run the risk of them getting ahold of your new account information :oops: .

First of all, please read the following thread before closing your account though: http://www.debtconsolidationcare.com/paydayloan/close-account.htmlhttp://www.debtconsolidationcare.com/paydayloan/close-account.html
8)
ladybug

I do not know about Nevada but payday select is licensed in Delaware.
If it is Cashnet USA then you aren't supposed to revoke your ACH but if you have to you have to. They will give you the run around but they do accept other forms of payment. Stick to your guns with them. They will try to debit your closed acct so make sure you verify that the bank won't force open the account once it is closed.

I do apologize but I think that I gave you the wrong link...go to the thread that explains how to go about closing your account by goudah. Sorry my brain is not functioning correctly this evening. (LOL)

ladybug

Here is the right link: http://www.debtconsolidationcare.com/paydayloan/close-account.html

Ladybug you just pasted it twice back to back.

Hi,

Thanks, I have already read the threads about closing your account. So for the licensed PDL places, the way I read the Nevada law (obvious NAL) is that once they default, it has to go to a different interest rate? 10% above the highest normal bank rate or something like that. So I understand legally I have to pay them back or will get a judgment against me and I do plan to do so. It does at least let me know that those two companies will be a priority in paying off.

I do not plan on reopening any checking account for a long time, until I have this under control. I will also be depositing my paycheck in my SO's account and just transfering small amounts to my savings and visa for paying bills until I'm sure the bank won't go crazy with fees and try to seize money out of those accounts.

Thanks again!

Hi Smoking...when I closed my account, it did also affect the "legal" pdl's that I had and I called them to make payment arrangements. You do not have to pay them by check...which you said you were closing your account for awhile anyhow so no worries there.

Hi all...

I am getting ready to do this, probably will have everything posted to my account by Friday and will close it Monday or Tuesday at the latest.

2 things...

My Payday Ok (and probably Payday Select too) has the following text in my contract:

LOAN SERVICING: Lender has retained TC Loan Service to assist in servicing your loan. You authorize Lender and TC Loan Service to share information in connection with the application, processing, funding, servicing, repayment and collection of your loan.

Payday Ok and Payday Select are NOT licensed in my state, but TC Loan Services is. That is the only part on the whole contract I find their name and the name of the lender is ONLY Payday Ok.

I just need to know if this makes a difference as if my contract is also with TC Loan I will need to consider it as a legal loan. Otherwise I will send them the "you are illegal in Nevada" type letter.

Also....

I need a sample of a "closing account and need to negotiate" letter for a legal loan. I won't be asking for a refund, simply informing them that the account will be closed, I'm willing to make payment arrangements with them but do not call, harrass etc.

I'm sure there is one on here but I have alot of trouble with this site freezing my computer up and unable to open more than a one or two threads at a time.

I live in Nevada and also had a loan with Payday OK. I sent them one email telling them I closed my account and revoked any authorizations for debit transactions. I advised them it had also come to my attention that they were not licensed in Nevada. The next day I had an email stating they were sorry to hear I was not happy and to consider my loan Paid in Full! Give it a try - send an email.

Thanks, candy! That'll let smokin' know that there is hope! Glad you posted that! :D

Hi All,


Oh WOW!!!



I faxed my "are you legal and mark me paid in full please!" letters to Payday Select and Payday OK on Friday. Got 2 emails first thing this morning.


PAID IN FULL!!!!!!!!!!!!!!!!

That is a big relief because my account still has a check out there that I have not been able to get a hold of the person to get them to deposit it and I don't think I have enough time to get my account sufficiently closed before pay day. That just leaves the two payday loans that are legal. I just reduced my debt load by 50%.

I cannot thank you guys enough, had I not had the information provided here I would have tried to work out payment arrangements with both. It didn't even occur to me that they might not be legal.

Another question though..

Did anyone have a problem after receiving such an email? Should I request something more official or will printing out the email and keeping in my record be enough.

Hi.. just a bump to see if anyone has an answer for my questions. I can't log into either Payday Ok or Payday Select sites to verify that they marked the account full but I have 2 emails each stating they would.

smokin, do not worry. You've got written proof stating PIF from these jerks. If they try to pull ANYTHING on you, you have concrete hard evidence to throw out in someones face. Good job! Don't worry about not being able to log on to your account with them. You're probably locked out! With luck anyway! LOL! They most likely won't let you take a loan with them again. Shucks. I am so proud of you! You did great! Just keep those emails FOREVER. And I do mean FOREVER. It's amazing how sometimes these pdls pop back up to haunt you. Again, great job, smokin'! :D

I recently had to stop payment on a 1276.00 loan to Check city. Just the interest alone was 350 a month. Now they are offering a payment plan to with a min of 216 bi weekly. There is no way I can pay that. I am single mom and only took the loans out to stop utilizes disconnect. They are now threatening legal action. Can they garnish my wages??

Is Check City an installment loan? How did you get the loan? Over the internet? How long have you had it? We might be able to help you here with just a little more information! Also, what state do you reside in? :D