pdls in Kentucky

lexie, Welcome to the fourm there are many of us who have been where you and your husband are right now. But know that internet pdls are prohibited in KY. You need to take careof your bank account. Check it first thing in the morning. If the pdls have not hit got the bank and either close it or have it hard debit blocked if you can not close it. A debit block will atleast keep the pdls from debiting your account. Try to open a new account at a completely different bank. Explain to the bank you have had unauthorized transactions in your account and you need to close it or block it. Be sure your husband goes to his payroll department and either stops or moves his direct deposit .

Here is some information regarding closing your account that is posted in the fourm and has some good information:

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Here are the laws for Ky and some additional information to look at (just select your state),

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

Internet based companies are illegal. They cannot collect on the debt through any means. Kentucky does not license them, and does not allow companies not licensed in KY to lend legally.

lexielousmom, I noticed you were logged in and thought you may be looking for this. If you need anything or have any questions, just ask.

Roxy thanks for all the info. I'm still in a big mess here.........but I guess you live and learn....HUH??!

lexi, I am so glad you are back. I have seen you a couple of times and was hoping you were ok. Life is one big long lesson.... Three really is not that bad...I had nine and you want to talk about live and learn. We are here when you are ready. I know it took me about a month to finally believe and take the plunge. It is scary, I know but so worth the work in the end. Remember they are prohibited in KY and are considered illegal and uncollectable.

i am new to this site, i owe about 2000 with fees for the loans and what is worse my husband dosent know. does anyone know is it fraud if i close my acct? does anyone know if there is one company that can take over all the loans and i pay them monthly?

lizzie, we would like to help. Many of us kept the pdls a seceret. My hubby still does not know. If you would list the companies, whether they are storefront or internet, how much you borrowed, the total of how much you have paid to each and your state so we can look at the laws, We will get started. I can not tell you about your bank account until I know what state you are in and we look at your state law. Also, when you come back, would you post the information requested on a new thread with your name and post. That will make it easier for ust to find you again.

It would have been alot cheaper to pay a few overdraft charges then to pay these ipdls. My checking account is now $600+ overdrawn because of this.Where do I start?? Somebody please hold my hand on this one.

lexie, have you done anything with your bank account yet? roxy and myself are both in Kentucky like you. We can help you. You NEED to get rid of your bank account that the pdls have access to. I understand it is now in the negative, so the bank will most likely not close it right now. You need to go to the bank, speak with the branch manager (go to the branch you opened the account) and tell them to put a hard debit block on your account. Explain to them that you will pay the overdrawn amount to bring it back into the positive; however, in the meantime you need to have a hard debit block on it due to illegal companies taking unauthorized debits, okay? The first thing is to get your bank account to the point to where the pdls can no longer hit it. That's priority. Then we can walk you through the rest of the procedure. And we'd be glad to "hold your hand". That's what we do. lexie, you need to get your bank account taken care of ASAP. The pdls will continue to hit it causing it to go further in the red. If you have any questions at all, just post them. We are here.

lexie, I am really glad you came back. I have seen you logged in several times and was hoping you would post. Everyone here will most certainly be here for you and will hold your hand. I know it is scary but the feeling you get when you get to keep your first whole pay check and are able to pay bills....it is worth all the work. Please go take care of our bank account asap. We are here if you need anything. Roxy

I am trying to get it closed I sent them a letter to close it and about the unauthorized debits. I do have a new checking account...go me! I can't wait til I get a whole paycheck!!It's going to pay my past due bills but at least I will be able to pay them.

The bank is almost in Tennessee and that is a long drive from here.That is why I called sent a letter and an e-mail to close the account and or stop the ach's.

Lexie, you do what you have to. IF it is too far to get to then the next best thing is to call and put it in writing. Are they working with you?

So far they have been good about it. I have to call them back in the morning to make sure that the block was put on the account and working.I also tried to call the DFI today but as my luck would have it noone was there to take my call so I will be calling back tomorrow.

lexi, I sent you two pm's..one detailing the next steps. Please be sure to check it tomorrow.

Ok this is news to me. I've been doing business with a couple of online companies. Even though I've entered into a loan agreement with these companies and authorized them to debit my account because they are illegal in KY I can just close the account and that's it? They can't pursue legal action?

In Kentucky, an internet loan is not considered a legal debt. Therefore, in the eyes of the DFI, it is uncollectable. However, the friggin plds will harrass the hell out of you and send you to collections. :wink: