paydayok loan i cant pay in full

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

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

I would not send them a letter revoking their ach debits before I closed the checking account. If they sense that you are going to close the account they will go in and bleed you dry. Please read the above sticky regarding closing your account, and if you can, I would do it asap

though i am still unsure how it applies to me. I have seen in other cases that people have received a PIF, though i am not sure what it was . i am sending paydayok this email do you think it would be sufficient?

This is to advise you that you no longer have authorization to debit my account in any manner whatsoever. i am also hereby canceling my account as I have paid you 882 dollars and only received 357 dollars from you.

PIF means Paid In Full. Payday OK is usually really good about marking people PIF once confronted with their state laws.

Do Not send it until your account is closed. They will go in and take all your money
A PIF is paid in full. DO NOT SEND THE E MAIL

The Mod deleted the state laws becasue they are already on the thread.
Again do not send the e mail until your account is closed. They will go in and take waht they want .

In the previous thread "about help with a sample paydayok letter the guest never stated if they had closed their account> that would be a huge inconvenience but i will do it if absolutely necessary. Are we sure that payday ok will not justsend a PIF and let it be> I am just trying to discover all of my options here. thanks

can i just have the bank stop payments on that company? i am not sure if that would work or not. thanks again

They will go in and take your money. It is a pain in the neck, but we all have done it to be safe. Sending that e mail is like saying to them , ok go in and take my money. No IPDL will just send PIF.

Here's the deal - If you are willing to risk that every penny in your bank account disappears, then try for the PIF with an open account. Otherwise, you will need to close it.

Thanks Goudah. I just didn't know what else to say.

to try to close my account and see what they say. I guess its the lesser of 2 evils though a pain in the neck lol. thanks for the help and any more adivce from you o any1 else will still be great as i will check this thread very frequently .

i have paid 882 dollars in fees and such and only recieved an actual amount of 357 dollars. Am i able to ask for a refund from them as others have done? if so how do i go about this? or should i just be content in them marking my account PIF and let it be? thanks

thanks for thelp you two. Sorry to sound so stubborn, but my wife was making a big fuss over the account until i told her that this was far better than paying 1000 dollars in fees lol.

No problem - It can be a pain, but it really is the only way to safeguard your money from these people.

If you have overpaid, then yes, seek a refund. It's always worth a shot. Just know when it's time to accept a PIF. Refunds can be hard to come by.

from the figures i posted do you think im eligible? i am not sure of the exact details. Thanks in advance

Well, If you got 357.00(which is a strange amount) and you repaid 882.00, then yes you have overpaid.

basically i started with a 300 dollar loan and increased it to 500 dollars. I figured out the exact debits and credits and those are the figures i came up with. technically i got 500 dollars but i only actually recieved 357 dollars in cash.

As Goudah stated...it is often hard to come by a refund..most of us have overpaid many if not all of the loans we had out. I was always happy that they marked me PIF even though I did ask for refunds...but never recieved any. It doesn't hurt to ask...just don't be surprised when you don't get it.

yea i wasnt at all, but it does not hurt to explore your options right? thanks again

I am with you Morning. I was happy just to receive a PIF. Anything after that was just icing on the cake

I would just chalk it up as lesson learned and let it go, atleast you were able to get a PIF. I wish I could get some of those. but, we'll see, this battle is not over with yet.

Yes it is a lesson learned. lesson learned the hard way. If we only knew then what we know now. I know all the hard work you are doing Deeann , and I am sure you will get those PIF's.Please keep us posted.

From someone who had grossly overpaid their PDL's, I am just has happy getting a PIF and calling in a draw. I am normally someone who will fight like a dog but I just wanted this mess to be over with.

I asked for refunds, but didnt get them but did get PIF's which is fine by me.

It doenst hurt to ask, but by all means to not count on it.

CAN SOME ONE SEND ME A LETTER ON HOW TO REVOKE CONTACT BY PHONE AND HAVE THESE PEOPLE TO STOP CALLING MY JOB

Just send who ever a letter , or e mail and say I hereby ask that you cease and desist form any communication by telephone to either my home or my place of employment. You may onky contact me via E mail or usps.

Some will listen , some wont

Be careful if you plan to close your bank account in Ohio. I'm in the same boat w/ CashnetUSA, CNG, and paydayok. But i was told today that I may very well face criminal charges if i close my bank account. Chase Bank along w/ two county prosecuters office's (Buter and Warren Counties) all seemed to be of the opinion that criminal charges COULD be possible if the PDL lenders pushed it.

guest, could it be because CashNetUSA and Check n Go are licensed/legal?

I guess. I thought it would still be a cival matter. But they all seem to think otherwise. The Butler County rep said it would be no differant than going in to Walmart and writting a check and then closing the bank account the next day before the check cleared. He said he would prosecute PDL the exact same way. And he said he was confident he would get a conviction. However, he said no charges would be possible if i just let the checks bounce??

Okay. So what they're saying is do not "close" your account, correct? However, it's okay to let them go through as NSF? Then you'll have NSF fees up the ying yang. How about a hard debit block? The account would still technically be open/active; however, no debits could go through. Would that work?

It should also be pointed out the Chase told me it was illegal to close a bank account when you KNOWINGLY know there are LIGITIMATE debits due to come out of that same account. They said, if it can be proven that I made no attempt to make other arrangments w/ the debitors it would be treated the same as writting bad checks. And she said the bank could also seek criminal charges for "trickery" or "usery" i think was what she said.

I didn't ask about a hard block. But, yes, they all seem to be in agreement that having NSF was not illegal and was a matter to be handled by the bank and the customer. They said the customer could certainly could be sued by the bank and wages could be garnished or paychecks levied (whatever that means) but no criminal act occurred.

There has to be a paper check to get a bad check charge. Since these are all internet companies, the Electronic Funds Transfer Act prohibits businesses from requiring payment by reoccurring ACH.

Also, "proving" that someone intended to defraud is awfully difficult and circumstantial at best.

Volley, I was hoping that was the case. But, according to them, the electronic signarture is binding by law and the same as signing a check. I'm really scared. These people (especially Butler County) really seemed to know thier stuff!! They did state that "passing bad checks" may not even be the right charge. But, they were all in agreement that SOME sort of criminal action COULD indeed be taken. I dont know what to do!!

Guest...are you pwermaster7?

No Volley, my name is Chris.