PDL Help

Here are the Payday loan laws for Indiana (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

You need to send each of the lenders a letter revoking their authorization to debit your account and revoking any wage assignments you may have signed. You need to get control of your money, then you can work on paying them off.

Also please list the principal loan amounts, and what you have paid on each one.

Ted, before you do anything with your bank account or your ach debits please read the following.


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Ted set yourself up an account and I will pm you a copy of my letter that I sent. I am in Indiana too.

There is a thread that you need to read in regards to the wage assignments that frog posted on here. It explains the wage assignments in detail. Its title is About Wage Assignments.

ladybug

Thanks to all for so promptly responding! All 5 loans are for 300.00. To date I have paid United Cash Loan 735.00; WebPayday 468.75; USD ach 540.00; ameriloan 180.00 and Pay Day Cash 90.00. Four of the five will hit me this Friday with their ACH fees!!

Ted,

Be sure to read Kash's post above regarding closing your bank account. Then contact your bank ASAP, maybe they will work with you to stop the debits on Friday. Don't be afraid to tell them your situation, I was very nervous and embarrassed about talking to my bank, but they were very understanding. I was able to close my account. I had my direct deposit stopped. It was such a weight off my shoulders, when I received my first paper check, and I could decide where the money would go. Post any questions you have.

Also, through one of these payday sites Brimmley Lending has offered me a 6000 loan @8.25% for 3 years if I will send them 5 of the monthly installments BEFORE they direct deposit into my account. Most feedback on Brimmley is negative, but, Jeff O'Riley their rep says they are absolutely legit and I cannot confirm one way or the other for sure. Thanks Ted

I would definately stay away from any type of loan where they ask for money, BEFORE they give you the loan. I'm sure it's bogus, they have negative feedback for a reason. I know it's tempting, but I would just send out the revoke authorization letters and talk to your bank.

Ted, please read this, I googled Brimmley...

Thanks I will go to 5th3rd bank tomorrow morning and explain my situation.

I've got ameriloan and United Cash as well. Hint, they are both operated by the same larger evil company MTE Financial. There might be more of yours connected with them too you'd have to search on those.

You've only got two that you haven't paid back the principal. I've got a sample letter in my blog, if you haven't already written up one. Mine are relevant to still owing, because I still owe all of mine. Seek others advice on getting paid in fulls after you've sent letters revoking authorization of ach debits and wage assignments.

Now that you've got your bank involved and your money (hopefully) safe for now, and possibly your letters written up and sent certified return receipt, you will need to start with the complaints. Try your Attorney General (or Finance Dept as in Oregon), the BBB, and the FTC. They will help get refunds for those you've over paid, and get you settled for only the principal amount still owed.

Most likely these companies are not licensed to operate in your state. I know Ameriloan and United Cash never are. You should check them all out just in case. And even if they are, they broke the rules by having rollovers and lending to you after your first two. So that means they most likely aren't licensed considering they have no regards to the rules.

Any other help just ask. Good luck!

Ted I could not reply to the message you left on my page as you were not registered under that name. I will PM my answer to dtf.

Dear Morningstar, I am a brand new member and although I cannot even open my home page yet I have read all of the web-logs concerning IN PDL's at this site. Today I have 5 intenet pay day loans, tomorrow thanks to you and the other contributors' research and the new Indiana PDL law I will have none as all 5 of my loans were taken out after July 1st 2007. I will follow through will all of the procedures prescribed starting with a visit to 5th 3rd bank first thing tomorrow and like Biker Girl, I am prepared to strong arm the PDL's when they eventually call and rant after receiving my Certified letters. As with everyone else I marveled at Biker Girl's assertivenes and early success! I'm not really sure how I arrived at this site earlier today, but, am truly happy I did and appreciate everyone who has looked into this research and posted it here to offer guidance and hope to worried fellows such as myself. Thanks to All! TED88 aka dtf Indianapolis IN

Today, as the beginning of my effort to jump out of this IPDL quicksand, I attempted to close my 5th3rd account, but succeeded in only having the 5 ACH's blocked for 2 years because I do not yet have the proper basis for a dispute. Per 5th3rd the loan companies might try to debit in different ways so I am not really safe from their grasp?? Any comment would be appreciated. I amgetting my revocation leters ready to keep things moving toward my goal. Thanks Ted

They can and they will try different ways to debit you. Sending a paper check, one they printed seems to be rather effective and hard to reverse. They will try under a different name, a name that is not blocked as well.

The best thing to do is get a new bank and a new bank account. But at least you've blocked a few for now so it isn't as bad.

Oh and Ted could you stay with just one name, I'm getting confused...

I was a Guest as Ted 88 and when I joined the site they named me dtf and when I got my permanent password I was assigned df19560 so I will probably be df19560, but, it's me Ted and I will be weblogging quite a bit as I proceed with everyone's help here to resolve my 5 IPDL's. I agree all these names are confusing.

Dear Moderators and Contributors: I followed everyone's advice and direction closing the 5/3 acct and sending the Certified Letters to Webpayay, Miami Nation's United Cash Loan and ameriloan, Payday Cash Link and Little Loan Shoppe revoking their rights and filing with IN AG, INFIN, BBB and FTC and I have not had a single call, email or letter, either harassing or telling me I would receive a Notice of Paid In Full. Is this par for the course? Are they getting ready to try and drop the bomb? The BBB gave them until Halloween, of all dates, to respond to my complaints. Just wondering and grateful for any feedback. Ted

Ted...you are doing well...and yes that's the norm...I am sure you will probably hear from some if not all of them. I actually didn't hear from any of mine for about 2 months after I sent my letters. Each is different and they change the way they handle things on a daily basis. One person they leave alone for months while the next they are calling endlessly. I got the most help from the BBB letters and mediation from the AG office. I does take about 30 days for the AG to notify you and get letters out but just hang in there...you will be fine.

ted, way to go! :D You're doing great! So how long ago did you send your pdls their letters? And if they have until the 31st to repond to the BBB, they will most likely wait until then. Some won't respond to them at all. WebPayDay is pretty good at responding to the BBB. United Cash Loan and ameriloan (MTE d/b/a's) may not respond to them at all. However, watch out for them. They're very sneaky. I don't know about Payday Cash Link or Loan Shoppe. Believe me, these guys will try to contact you eventually. If you have any problems once they start, just come back here and post. We can help you. You're doing a good job, ted! :wink:

I sent the letters on Oct. 10th. Ideally, I would just like Paid in Full Notices from all 5 of them, but, wonder if involvement by the BBB and IN AG "scares" them into refunding to customers? I will post any actions the IPDL's take. Many thanks MStar and Canrr.

Hello Webpayday just called a few minutes ago (Tuesday afternoon) and rec'd the letter from their Utah BBB and wants to settle for the differance between the $345.00 that was by IN law legally due and the $518.75 that I have paid.... $173.75 being the amount she WANTS TO DIRECT DEPOSIT INTO MY NEW BANK ACCOUNT. She says she can't issue a paper check!! Is this arrangement probably ok, or, a back door method of getting my new account number for more debiting on Webpayday's part? If you see this and can answer I would appreciate input. They are in Utah on Mountain time, but, would like an answer today Thanks Ted88

ted, crap! :shock: When WebPayDay refunded me, they did it by ACH credit also; however, my "old" account was still open with a hard debit block on it. Ummm... they will not send you a check? I personally (and this is just MY opinion) don't think that WebPayDay would screw with you. However, I'm leery of giving out any bank information to a pdl, as they might share it. Do you have a savings account somewhere you can give that information on? Anything? I'm sorry, I'm trying desperately to think of something!

I called the Utah Dept.of Payday Lenders in Salt Lake City (phone 801-538-8830, supervisor David) who says he might approve of direct deposit into my new account if Webpayday would send/fax me a Notice of Paid in Full BEFORE I give them my account information. He says, also, that Utah doesn't have a finance cap rate and this Webpayday, whom he has never heard of, probably didn't know they are strictly bound by IN law in that regard. Has anyone rec'd a similar settlement from Webpayday? Thanks Ted88

Thanks Cannr, I just saw your post. My new and only checking/savings account is with the credit union. Did Webpayday re-route you funds to you ok and was that the end of it? Ted

Well, I got my refund just fine, ted. However, a mess happened a few months later. I received my refund and a paid in full. However, I then found a collection agency on my credit report that reported me as having an uncollected debt with WebPayDay. Imagine that. An illegal pdl showing up on my credit report! Found out that WebPayDay "sold" my account (that was overpaid, refunded, and marked paid in full) to a collection agency, who in turn, reported to the credit bureaus. Had to fight with the collection agency. Had to fax over all the email proof that this was indeed overpaid, refunded, and paid in full. Had to dispute with the credit bureaus. It was kind of a mess. So, yes, WebPayDay was great at refunding quickly. However, a few months down the road something ugly happened. It's all straightened out now, but it shouldn't have happened to begin with.

Oh no! I think I remember reading about that in one of your columns! That was a totally undeserved hassle to have to unravel! Do you think I should have her put a "no collection activity" clause in the "Paid in Full Notice"? Ted88

Oh, great idea, ted! Have them mark it paid in full, closed, and that it will not be "sold" to any 3rd party. Hell, mine was marked "closed" but the idiots sold it to a collection agency! My God, yes! Wonderful idea! You've got your thinking cap on! Get it in writing. I mean, I had enough proof to get it taken care of; however, this is one step further. You go, ted! Do it! :D

Thanks for the feedback!! I will ask for the provisos discussed and see what happens???

Go for it, ted! Let us know how it turns out! Great going! :wink: