Under 5 Payday loans and need help
Date: Sat, 10/27/2007 - 06:55
I only make 500 something and thats going to be a big chunk of it. I'm getting desperate and need some advice on what I can do.
reply
laser, put the amount of the loan as what was actually DEPOSITED into your account. If you got $250 deposited into your account, then put $250.00. And for what you have paid, you put the total amount you have paid them. If you have paid $225.00, then you put $225.00. Do not break anything down. Just the principle amount of the loan (what they actually deposited into your account) and how much you have paid TOTAL to these people, every dollar. And, "what makes the illegal ones illegal" is if they are licensed anywhere. Are there any in particular that you are unsure of as to if they are unlicensed/illegal? Or were you just asking in general? A lot of the pdls you'll run into aren't even licensed to lend. Any questions, just post! :wink:
Just really asking in general I suppose. I just saw on the Virgi
Just really asking in general I suppose. I just saw on the Virginia State laws that it said payday loan companies were legal but I was told that the internet ones I'm dealing with isn't legal. That just had me a little confused but I undestand now that you said they are legal only if they are licensed somewhere. I've heard that US Fast Cash does like to move alot so I imagine they don't ever plan on being licensed soemwhere.
And deeannstudent, I definitely plan on reporting them the same as you have.
My last check finally came out of my bank account so I'm going t
My last check finally came out of my bank account so I'm going today and taking care of my account. I'm going to see if I need to close them down or if I need to just put them on deposit only status....I just don't like the deposit status part because then I can't even touch my own money *lol*
r
laser, if they can assure you (and get it in writing) that your account will not be forced open due to pending pdl debits, then close it totally. If they can not promise that it will not be forced open, causing the pdl debits to go through and also causing NSF fees, then put a hard debit block on it. Have you already opened another bank account so that you have a working bank account for yourself?
I was hoping that I could to get to post the message earlier but
I was hoping that I could to get to post the message earlier but I had to work and didn't get off until just now. I got some bad news when I went to the bank this morning.
I talked to two different branches were I have my current account and they have nothing called a 'deposit only' status. They said that if anything tried to come out that they were to take it out no matter what.
They also informed me that if my account was closed, each thing that came through after it closed would still cause a 22.00 overdraft charge.
They said the only thing I can do is to block the transactions by paying a 10.00 stop payment on them. To do this to stop both of them from coming out is going to cost me 40.00
I will have to do a stop payment so that they can't make an ach debit from my account, and then I would have to turn around and do another stop payment on checks coming from the company.
There are two payday loans trying to come out, so that would be 40.00
Also another friend told me that sometimes the loan company has several names, and if you block one they can send it through on another name. My day just hasn't been good today. What should I do? Is what the bank telling me true? The branch manager even made the comment that if the companies are illegal I still owe them their money and that when they sent the fees through to the bank they would pay them regardless of if I wanted them to or not without the stop payment.
r
WHAT???? :shock: Your branch manager told you that even though these are illegal companies taking unauthorized debits from your account, they will still continue to pay them???? Am I understanding this correctly? And they will not put a hard debit block on your account? They will do nothing except put a "stop payment" and charge you for it? Ummm... I have a huge problem with this. No friggin way. Also, if I'm reading correctly, the account (if closed) would probably be forced open causing the NSF fees? Is that what they said? Well, now that I've heard of. But to not put a block on your account due to illegal companies and unauthorized debits? HELLO! And to tell you that you can only do a "stop payment" and then charge you to do it? What the hell kind of bank are you at? And you went to not one, but TWO, branches and you were told the same thing? Okay. Time to get the friggin corporate office involved. Honest to God. Not customer service. But the head honcho at the corporate office. Get your branch idiot on the phone and ask for the corporate phone number. Hell, I did and they helped me. Also, your friend is right. Whoever told you that these companies can (and they will) debit under a different name is correct. Once these guys find that they are blocked, they will use a different name, different debit amount, different date, etc. to get money out of your account. If they can not get it through an ACH debit, they will put through an electronic check. Believe me. It's been done. You need to get SOMEONE at your bank with half a brain to help you! Please, please call the corporate office. This is insane. They can put a block on your account. You can't stop these guys with a "stop payment". They will go around it and suck money out of your account. I swear. Please, try to get someone else to help you.
Yeah, she said that even though they are illegal and taking mone
Yeah, she said that even though they are illegal and taking money out of my account there is nothing I can do but pay the debt I owe. She said they sent me money, therefore I owe them money. My friend even took her the letters that I was sending to the company and she told him to get me to come in and sign a paper to do a stop payment. And then she informed him that it was going to cost 10.00 per stop payment and there are two companies I would have to stop.
She said that if I closed it then I would rack up anywhere in the hundreds of dollars for NSF fee's depending on how many times they tried to take money out of my account. Even if it was closed. She also went on to explain that they had no such thing as a hard block or debit only status.
I'm at a credit union unfortunately. I thought maybe after I take my money out of my savings account everything would be done because thats what keeps you a member of of the credit union. But she said that I would still owe them fees no matter what.
I will try to get a hold of someone corporate Tuesday when they open but I'm afraid that by the time I get something done it's going to be to late. BIG is going to be taking money out Thursday. My paycheck goes to the new bank so I don't have to worry about that. I just don't want to rack up fees that I'm going to have to pay the bank later. And I can't wait to get away from this bank either.
r
Oh my Lord. I just can not believe they will not do SOMETHING with your account when they are aware that these are illegal companies and unauthorized debits. And for her to acknowledge that they are indeed illegal, but tell you "they gave you money so you need to pay" is just ripping my guts out right now. First of all, she needs to keep her friggin "speech" to herself. Second, she is INSANE. You do not allow illegal companies to take unauthorized debits out of someone's account! Is she smoking crack? I mean, it's like goudah always says "What if someone stole your wallet? What if someone was using your bank account information?" They would certainly do something then! If you walked in to your credit union and said "Someone stole my wallet", would they say "Gee, too bad. We can't do anything regarding your account. We'll just have to pay them whatever money they take out." Oh, I don't think so!!! It's the same damn thing! I'm sorry I'm getting so worked up over here. But you need to get someone higher up than these idiots and point that out. Ask them what the hell they would do if someone stole your wallet? I'll be damned if they "couldn't do something" then! Use that as an example! Oh, there is steam coming out of my ears!
I was extremely upset that day but I think you're right. I think
I was extremely upset that day but I think you're right. I think I need to go to someone higher to see what I can do. I'm off Tuesday so I will call them then and see what they say.
r
lazer, sorry I went off on a rampage! But, my God! I can't believe they are doing this to you! And now Monday is a holiday. Darn it! Please post for me on Tuesday and let me know what's going on. Please do get someone "higher up". And ask them all those questions. They are crazy. Please post as to the progress you make. I'll be thinking of you all day!
Just thought I would drop you an update and let you know that I
Just thought I would drop you an update and let you know that I did talk to the bank this morning. I didn't talk to higher ups like you said to, but I did call a different branch. They gave me completely different information than the branch here where I live gave me. The ones here is the newest branch and they're not really that up to date on policies and how all that stuff work. Everytime I go in with a problem they have to call the main branch to get the answer to give to me. So this time I called the main branch myself.
They informed me that I had two choices. I could do an ACH stop payment on each company, or I could go ahead and close my account down. She informed me that if I closed my account down I would not get any NSF charges. She said that if something was to try to come through it would bounce back as 'Account Closed' and I wouldn't have to worry about anything from the bank, only the company trying to take the money out of my account.
She then went on to say that if I was happy with that bank, minus what happened at this branch (I told her the whole story), she said that I could keep my account with them. What she would do is close this account down and sign me up with a completely new account number. She said that way, I'm still with the bank but I stop the payments from coming out of my account.
I would like to stay with them because there is a branch here in the town I live in. The Wachovia I have an account with I have to travel 30 minutes just to get to it.
r
lazer! :D Thank goodness you spoke with someone at the main branch! Oh my gosh! I think my blood pressure will go down now! If they have assured you that they will close your account and nothing will hit it and no NSF will be added, then by all means, close it and open a new one! The main branch sounds as though they know what they are talking about. I'm sorry you had to deal with the less knowledgeable ones at the branch by you. However, this is wonderful. lazer, close that account. Open a new one.
I just closed my account today and signed up for a complete new
I just closed my account today and signed up for a complete new account. The lady at the branch closed it out and explained to me that anything hitting the account now would bounce back with the message 'Account Closed'.
She said I should not get any NSF charges, but should I get one I need to call accounting. She even made a copy of the letters that I sent to the pdl companies to show that I have proof of what is going on. She said that my new account will not be linked to my old one and that the pdl companies will not know I have an account with the same bank.
They seem to be a lot smarter than the local branch here. It's just going to kill the local branch because I still am a member of the credit union. I'm going in there tomorrow to see if they will print me some new checks for my new account anyway *lol*
When they see that it did get taken care of and I had to go to someone other than them they should feel bad *lol*
Also while I'm on the message board someone said earlier that Advance America was a member of something that did the extended payment plan. The Quick Check company actually has another name. It's called Extol Corporation INC.
Would you be able to check and see if they do the extended payment plan as well?
Thanks
that happened to me, my credit union closed my account and opene
that happened to me, my credit union closed my account and opened another one and assured me that nothing can reopen the new acct. so far i am still in the negative with the new acct.(my fault) :oops:
I think that happens to almost everyone at least once....I know
I think that happens to almost everyone at least once....I know I go in the negative sometimes....which credit union are you with?
r
lazer, I'm not showing Quick Check/Extol Corporation on the CFSA list; however, some storefronts are "new" members and may not have hit the list yet. It doesn't hurt to call and ask. If you feel more comfortable calling the corporate office of the storefront, call the corporate office and just ask them if they are members of the CFSA. They'll tell you. If you're comfortable calling the local storefront that you deal with, call them. I've come across some local storefronts though that aren't too "up" on what's going on though. LOL! So I usually call the corporate office and ask them. It's worth a phone call. You might be able to do the EPP with them if they are. Now Advance America is on the CFSA member list.
hello lazer..I do have advance america as one of my storefront.
hello lazer..I do have advance america as one of my storefront. Im from florida so I guess that makes a difference..but if u go to advance america before the due date and explain to them that u cant pay anymore because youre in a deep financial trouble, they will extend your loan without extra charges..they will however enroll you in credit couselling thats on their list so you can work out on the payment of the principal..if im not mistaken, they will take the finance charge if they know its imposible for you to pay..I know it because I just done it last week..I called them up and asked them what step I should do because Im really short and I cant pay them anymore..as long as you let them know, youre fine
Both companies here that are local are working with me. Advance
Both companies here that are local are working with me. Advance America even offered me a job if I want it *lol*
And on the internet ones I've not had any problems yet except for one. BIG actually called my voicemail and left me a message saying that they got my fax and that they can't do anything because I still owe them 265.00 and that if I don't pay that on my next pay date they are going to debit the 65.00 service fee from my account.
I then also got an email saying that the debit was returned to them because the account was closed and that I needed to contact them before I got to much interest charges.
Congrats on the job offer...and you did not jump at it!!! What
Congrats on the job offer...and you did not jump at it!!! What were you thinking :lol: I am happy the storefronts are working with you. And BIG can debit until the cows come home..... Congrats on the success.