Payday Select, Payday One and Ohio

apparently you live in ohio. go to your bank and talk to the branch manager regarding closing your account. if they will, then close the account and open one at another bank if possible. you need to take care of your banking situation asap before the next debits are due. i believe the accounts you have ar illegal, unless someone else comes on and tell otherwise. but the first thing you need to do is get control of your money first.

This is my history from Payday Select... should I be able to write them to get some money back for illegal payments?

Date Action Status Principal Fees Transaction Total Principal Balance
10/24/2007 Full Pay Off Complete ($320.00) ($72.00) ($392.00) $0.00
10/3/2007 Payment Complete ($40.00) ($81.00) ($121.00) $320.00
9/12/2007 Payment Complete ($40.00) ($102.85) ($142.85) $360.00
8/19/2007 Refinance Complete $0.00 ($68.57) ($68.57) $400.00
8/3/2007 Refinance Complete $0.00 ($64.28) ($64.28) $400.00
7/19/2007 Refinance Complete $0.00 ($102.85) ($102.85) $400.00
6/25/2007 Refinance Complete $0.00 ($68.57) ($68.57) $400.00
6/9/2007 Principal Increase Complete $150.00 $21.43 $128.57 $400.00
6/1/2007 Refinance Complete $0.00 ($50.89) ($50.89) $250.00
5/13/2007 Refinance Complete $0.00 ($34.82) ($34.82) $250.00
4/30/2007 Refinance Complete $0.00 ($64.28) ($64.28) $250.00
4/4/2007 Loan Disbursed Complete $250.00 $0.00 $250.00 $250.00

I think that was a trick. I too had a loan with Payday Select and OK payday loan. Both stop servicing OHio, and both made it sound like you couldn't continue to pay them. I however like a dummy clicked the option on the Ok payday loan to switch to PayDay 1.

I left Select alone. Well, it turns out you didn't have to switch to PAyDay1, but since I did, they don't allow roll overs and the entire new amount of 575.00 is due. I had paid payday ok lots of money, it would seem I lost...

The Select loan--I sent them the letter I got from this site and they e-mailed me back that I was PIF!! If I would have not switched the OkPayDay loan to Payday 1, I'm pretty sure that same thing would have happened.

You didn't have to switch? Where was the opt out? I've contacted DFI and I'm considering talking to the Attorney General's office. This is crazy...

Payday One is licensed to lend in Ohio . . . . . That is why they wanted the switch.

well, it would seem as though we didn't have to switch since I didn't switch the select loan and they are the same company. Select was still letting me "roll" until last week when I sent them the letter. Their web-sites were very "slick" with their wording, once I figured it out, of course it was to late to take the PayDay ok loan back! I'm in Ohio also, do let me know what the DFI says about it:)

I absolutely will let you know what they say :-)

The PDS website gave me two options at the end of October:

1) Pay off in full now, which I wasn't ready for, especially since an e-mail said, "Just a reminder that your loan payment with Payday Select is due today, 10/24/2007. You may pay as little as $112.00 towards your loan. " -- so when I logged into their website to pay it, the site told me I had to pay all or switch.

2) Switch over to Payday One.

The e-mail to me said $112 would be auto debited if I did nothing, but since they lied saying I could pay just $112 through the website, I figured that if I did nothing I'd still have to pay off.

This just sucks!

Thanks all tho! Any more advice or other thoughts still welcome though...

"Pay off in full now, which I wasn't ready for, especially since an e-mail said, "Just a reminder that your loan payment with Payday Select is due today, 10/24/2007. You may pay as little as $112.00 towards your loan. " --

The above statement---that was the "tricky part", they weren't going to make you PIF, it was a plot to get you to switch, at least that's how I saw it.

PayDay Select was the same way, but I did nothing and then they just took my normal 112.00 the next to paychecks. Until I sent them the letter last week! So I believe the same thing would have happened with OK, and I'm sure I had them pretty much paid off, now I owe PayDay1 575.00!!! It does suck. I just figured there was nothing I could do, I just thought it was my "dumbness"

Worst case scenario, we're dumb together (you OK, my Payday Select).

-E

Well I just got a lovely e-mail from PayDay1 this afternoon, as my payment from last Friday was returned. It says they will be "glad" to work out a payment plan with me, I bet:)