I live in NJ and all my loans are from the internet
Date: Tue, 10/23/2007 - 08:20
Fast & Reliable $400 loan, $840 paid in fees, $520 payoff
Zip Cash $400 loan, $720 paid in fees, $520 payoff
Arrowhead Investments, $300 loan, $360 paid, $390 payoff
2-Power Funding, $300 loan, $540 paid, $390 payoff
Flash Loans, $200 loan, $360 paid, $260 payoff
ameriloan, $300 loan, $400 paid, $260 payoff
Speedy, $400 loan, $480 paid, $520 payoff
Geneva Roth, $300 loan, $90 paid, $390 payoff
Payday, $200 loan, $70 paid, $270 payoff
You will find the Payday loan laws for New Jersey here (just se
You will find the Payday loan laws for New Jersey here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
You have so over paid some of these loans. As per your state laws, PDLs are illegal in your state. There is a sticky at the top of the Pay Day Loan forum regarding closing your checking account, If you can close it do it asap. that is the first step. We will take it step by step from there.
Gthomas, it looks like you are going to be in pretty good shape
Gthomas, it looks like you are going to be in pretty good shape since pdls are prohibited in NJ. The only loans that you still owe principal to are geneva roth and payday. The rest you have overpaid. As Kash said, closing your checking account is your first step to regaining control of your money. We can then help you with letters, etc. to ask for refunds of overpayment from 7 out of your 9 companies. :-) In reading what others have posted, some will refund pretty quickly, while others will hold out to the bitter end just to see if you cave. They will threaten, harrass, etc. But don't give into them. They cannot do a thing to you except try to get you rattled. Just remember that pdls are prohibited in your state so you are in the right, not them. Also, as long as you have paid back your principal amount, you have met your obligation. It is their fault that they lend in states that they are prohibited to lend in.
You are in good shape as you have paid off almost all of them le
You are in good shape as you have paid off almost all of them legally. Get ready for a fight though. You have a couple of really nasty ones up there that will stop at nothing to try to intimidate you. Remember that you have the law on your side. As a former Jersey boy I know the tenacity that you can have from where you live. Use it!
Do not close your checking before reading this. Quote:Before
Do not close your checking before reading this.
Quote:
Before you close your bank account due to payday loans eating away at your paycheck, please read this. Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager. If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account. It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account. Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches! |
Payday loans
Are payday loans illegal in Indiana. I have one from Geneva Roth and one from Nationwide Cash.
You will find the Payday loan laws for Indiana here (just select
You will find the Payday loan laws for Indiana here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
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pdls are not illegal in Indiana. However, you may be dealing with unlicensed/illegal companies. I do believe Geneva Roth is unlicensed/illegal. However, I'm not sure of Nationwide Cash. I haven't come across that one before. Where are they located?
