I need help

Please let us know , what state you live in. Are the above the totals that have been repaid.So for example CMG you only paid back 75.00?

Im sorry. Im new to this site. I live in Ohio. And yes the paid amount is how much I have paid in total. The CMG loan is new.

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

thank you for the laws in Ohio. Im sorry for asking a dumb question, but what does it all mean in terms to the internet loans? What are my options here?

Sorry, I was interrupted and did not get to complete my post.....

The first thing you need to do is close your bank account. You do not want the pdl's to have any more access to your money. Please read this before you close your account. It has some really good informaton.... http://www.debtconsolidationcare.com/paydayloan/close-account.html

You need to get the account closed with the assurance (and something in writing) that these pdl debits will not hit and force your account back open. If they can not promise you this, then you need to get a hard debit block put on that account. Nothing will go through. Then you need to take your money to another bank and open a new account. Take care of this and we will work on the pdl issue.

Thank you. One issue though. The bank account I have is the bank I work for. How do I get the account closed or blocked when its my employer?

Good question :D Would it be possible to explain to them that you have had unautorized activity on your account and you wish to close the account to prevent further withdrawls and that you have filed complaints with the bbb and the Ohio Divison of Financial Institutions and this is what was advised by that agency. (you need to file complaints with them anyway) If you feel you must, you can open your account at your bank however, you want to be sure that the two accounts will not be linked. That they will not use money from the new accounts to pay for debits to the old account and that the old account can not be forced open. Your other atlernative is to come clean with your supervisor and go from there.

Great advice Roxy!!!!

Thank you...nice to see you!

Aminah-I also work for a bank :D And I have employee checking.

I called the employee financial services that handles retail accounts, gave them a brief introduction of what my issue was and had no problem closing the account and opening a new one. My manager was not involved at all!

I can understand your concern...believe me.

I agree! That sounds like a good way of putting it to my employer. I will try that first. But what about my direct deposits? Should I keep it open until it gets routed to the new account?

Thank you volleyball mom. Did you tell them about the payday loans?

If your money goes into the old account the pdls will take it. Just have your direct deposit put into the new account. If you dont have enough time for that, just get a paper check,until your new account will accept the direct deposit.

I know here, I need to have my direct deposit changes in 5 business before the next paycheck.....and you cannot get a paper check either if its within that time frame.

How quickly can you get the direct deposit change done?

Yes, I told the person over the phone a brief summary,...got these illegal pay day loans and I need to close my account.

I think I have enough time to change my direct deposit. What do I do about the outstanding checks I wrote to pay my bills?

Oh no...ok, you've got outstanding checks. Any idea when you think they might clear??

Honestly, I just sent them out last week. It might be another week before they clear. :( if thats the case then the PDL's will get more money.

aminah, you state you live in ohio, I'm not an expert, but try going in the google search engine for either the attorney general website or legislation on ohio payday loans, I could have sworn that ohio is really bringing the hammer down on payday loan companies, I found some really useful info on loans in MO and about an illegal company in NV

I hate to recommend this....but in this case this might be wise to do to protect your $$ from the pay day lenders, Any way you can stop payment and then send them money orders or do an ACH payment for those bills this one time??

also, on the payments you just sent out, call the companies you wrote them to and tell them that due to certain activity you have had to close/freeze your current account and tell them that you recently sent them a payment, I work in a cash apps position and we sometimes get this, maybe they will hold the check that you just sent, then tell them you will resend another payment (money order). I doubt I will ever do a checkcard/check payment by phone again, I don't care if it's for mortgage or utility.

Thanks deeann

Thank you everyone for you help. I will get started right away. After I close the account what is my next move? I pretty sure they will be calling my job.

sorry volley, I was putting in mine when you did yours, didn't mean to step on any toes

Nikki-No prob...spot on with your info :wink:


Aminah-I am going to send you a PM with a letter to send to the PDL's to have them stop calling, etc....

volley, can you also send me the letters you have so that I can compare to the ones that I came up with..thanks

awww Thank you sooooo much!

How do I find out if I signed a wage assignment? I went through the emails the PDL's sent and I dont see any wage assignments.

I sent each one of mine a copy even though I don't remember signing anything on some.

did you send it before or after you closed your checking account?

before, remember in MO you can't close an account due to payday loans if they are outstanding, you can put a hold on the account.

can anyone tell me how to get the laws governing OHIO?

if you go to page one of your thread you can see the law pertaining to payday loans in your state.

thank you deann. it says it applies to check cashers only. so does this mean that internet PDL's are illegal?

aminah and deeann....letters are coming your way!

that's the way it looks to me, boy ohio has really cracked down on these payday loans, I wish MO would do the same thing, apparently you have had a lot of loans that rolled over, not allowed. I would file complaints w/ AG, director of finance and bbb, you may end up not owing anything more depending on the fees paid have matched amount borrowed...good luck and just keep in mind everyones rooting for you, believe me I am in the same hole and everyone on this forum has been very understanding and non judgemental....go aminah, go aminah

thank you so much volley. everyone on this site has been a tremendous help! I just want to end this cycle before they take my whole check! They dont leave me much to live off of for 2 weeks after they take the fees.

thanks so much deann for the confidence. I have been struggling with this issue for longer than I would of liked to. Everyone here has been so supportive! You guys are blessings in disguise! I dont know how I found this website but I am forever grateful!

I have found it is easier to deal with it head on than keep trying to make excuses for why the water bill or electric isn't getting paid, you borrow and than have to borrow more because you borrowed to pay a bill in the first place. You'll see, get those letters typed up, faxed/mailed out and you will feel a tremendous weight lifted. I did...

volley - where do i go to find the letter you sent me?

honestly, i feel some weight already lifted with all the advice and support everyone has given me today. You guys are wonderful.

In just a few mins, look on the left side of your screen in the margin where it says "messages" and "my page" underneath the chatters list.

Pretty soon it should say 1 new message. Hit refresh on your browser bar if you need to.

deeann-You picked up your message...?

aminah-any luck?

yes volley, got the message and I must say, loved the letter, very eloquent but to the point, I wish I had asked for this a couple of days ago, I just need to find out which IPDL's are illegal in my state, I know cash today is, but I will have to check who else...

Yes thank you so much! My question now is....are ALL IPDL's illegal in Ohio? Or do I have to go through them and find out which ones are? If so, how do you find out which ones are illegal and which ones arent?

from what i can understand the only payday loans that are legal in Ohio are store front check cashing businesses, you can google "licensed ohio payday loan companies" let me know if this works

You can also check with the Ohio department of corporations...

Unless someone else comes along, I can look at this when I get home later on.

deeann-wanna check with the OH dept of corporations to see who is licensed and who isnt?

sure, give me alittle bit and i'll get the info..

here's what I found, in order to be licensed in the state of ohio, you also must hold a check cashing license which an internet payday loan will not have, here is the new legislation that was recently passed.
1. Effective Rate: $15.00 per $100.00
2. Maximum Contract: $500.00
3. Min/Max Duration: 1 Day to 6 Months
4. Only 1 loan at a time to a customer
5. No Rollover allowed
6. Must wait 1 business day to make a new loan after payoff (Cool Off Period)
7. Full Truth in Lending Disclosure required
8. NSF Fee = $20.00 plus Bank Charge, Maximum $25.00
9. No Additional Late Fees or Interest
10. Must have a license as a Check Casher and have a minimum $100,000 net worth.
OH - This links directly to the Ohio Legislative search page. Search on Revised Code 1321!

I do know that alot of the "legit" internet payday companies that I had dealt with no longer can do business in ohio due to this, go to "checkcity.com" and they have a notice on the top of their page. hope this helps. also I did look up all your pdls and none of them came up as having a license

Wow deeann....great info! Glad you and aminah got the letters!!!

None of aminah's internet pdls are going to be licensed/legal. I can look at their names.