need more advice

Lren....congratulations on getting your store fronts almost done!! I know that's a good feeling. To answer a few of your questions: In ternet lenders usually will keep debiting until they can't. That is one of the reasons why we suggest you close your account. However you also have Cash Call. They are difficult to work with. If you search their name in the google box at the top of the page you can see how some others have handled working with them. There also may be some info on T&C in the posts too.

Are your internet loans illegal?? I don't recall...but in all my reading on here I haven't seen where they have taken anyone to court. Talking to them is the best recourse to get them not to call your references...they usually only do that if they can't get you in some way.

You may already know this, but CashCall is not a payday lender and if needed, they will take legal action.

yes the 2 on-lines are legal. I am talking to them, but that's my issue, we just talk every day and I say the same thing, "I can't pay in full" and they say " we don't take payments" LOL

As far as T & C I have lots of info about and from them I've talked to them 2 xs and some folks on here also. But I can't seem to find anyone who has dealt with my 2 companies directly, so I can get an idea of how to work with them. I guess I'm gonna have to figure it out and then maybe I can help others who might run across them in the future.

So, do I just keep insisting I need a payment plan, until they give in? Or do I find an address and just start sending them payments? My bank has that "force bank open thing" so I don't think it will do any good to close it.

I would just start sending them a money order every month, with a copy of a letter outlining your payment plan. They may never agree to it, but they will cash the money order, and your balance will go down. The bad thing is that they will keep calling . . . .

With these two companies I would try to revoke authorization to debit. These are both legal companies, so they are more likely to follow the law then the illegal companies. They may actually stop when you tell them too. I would send them a letter, and at the bottom put that you are cc - ing your bank.

Thanks what letter do I send them?

lren, just type up a letter and revoke any debit authorization of your bank account. Also include in it a "payment schedule" and include a payment with it. At least that's what I'm getting from goudah's post, which is an excellent idea! :D

ok should I e-mail the letters or mail them?

It's best to send it certified return reciept....that way you have proof they recieved it.

can I ask for a sample letter to send? I'm just not sure what to say.

I really don't think there's a sample letter for this situation. You can basically just type something up that says you revoke their authorization to debit any bank account you may have and then plan out some sort of payment plan and include that (dates and amounts) and include a payment with the letter. State in the letter how much you're sending & then say what the balance is after that payment. Each time you send a payment, just note on there the dates and amounts of payments already sent and the remaining balance.

I have a sample letter that has a great part in it about revoking debt authorizations, wage assignemts , and anything else you may need. You have to doctor it up to fit your situation. It is a great letter. If you want it, I will Pm it to you.

please yes send it! thanks!!

just sent it.

Ok so I'll try what Cannr said, thanks! BTW, did any of you have to send pretty small payments at first like 25-50 a month? I think after the holdiays I can swing much more.

Are these for storefronts?

no internet is all I have left. CASHNET and PAYDAY1

It's worth a shot then. I was asking about storefronts because they usually want more than that. A lot more. LOL! However, it's worth a shot. If that's all you can afford right now.... What else can you do? Doesn't hurt to try. The most they can do is say "We want more money." And we're used to hearing that!

right! Cannr can I ask you are you still paying loans or are you all done? I just wondered how you handled yours? Thanks Reny

Luckily my internet loans were illegal. LOL! So at least I had some kind of "ground" to stand on. I settled for the principle with some, got refunds from some, got a couple zero'd out after being contacted by my state AG. I do have 3 that are just plain jerks. They refuse to respond to anyone (BBB, state AG). MTE related ones. And a couple others. They can sit and stew forever as far as I'm concerned. But they still like to pop up and haunt me every now and then. I know they will never be "gone". :?

how does this sound for a letter:

I am writing to let you know I'm unable to pay the full amount requested at this time. I am revoking my authorization for you to debit my checking account any longer. I am revoking any voluntary wage assisgments that might have been in my contract with you. I will be sending you $ 50 via western union every 2 weeks with the first payment arriving on Decemeber 7th. I have ever intention on paying what I borrowed but at this time I don't have the total funds available. Please contact me only by e-mail or USPS as of now.

lren
It sound good, but your account is closed correct?

no I have one of those crazy accounts that will force it back open!

You know that they will not abide by the part that revokes the authorization to debit. Unfortunately if they get a letter saying that , they will probably go in and take everything, thinking that you are closing your account on them. I would not send it

kash raises a good point...any hint that they are in danger of not being able to debit the account, they will go in and take what they need if its still open.

You mention that the debit will force the account back open...is that even with a hard debit block?

no such thing as a hard blcok at my bank. I took all the money out of that account and switched banks, so now I'm getting NSF everytime they try to debit. I don't know of any other way to handle it. Thoughts?

Just for my own reference...as I am in a similar situation when they are going in and trying to take out the money again are they going for the full amount or are they going for that finance amount?

The first time they went in after you sent the form specifically, do you know what they did?

I am just trying to plan for what these creeps will do to me on Friday.

I had a similar experience with my bank...I closed it not knowing it could be forced open....and it was muliple times. I am paying the bank off on that now too. However after the ipdls recieved my letters they they continued to debit and a few of them tried to take the full amount the 3rd time...after that the bank actually froze the account due to nsf charges and finally started turning them away.

cscott12345, normally they will try to hit with the "fees" like they usually do when it's time to debit your account. Most pdls don't "catch on" real quick. However, you might be dealing with a pdl or two that does have 1/2 a brain and see that you're going to try to block their debits & try to take as much out as they possibly can. But, my personal experience, is that they try to take the "fee" amount out for the first few times it's scheduled. Once they realize that the debits are being rejected, that's when they get antsy and try to debit the entire amount or more, in some cases.

well, Payday1 defaulted a few weeks ago, and so far they have not tried to debit anything again, although I get e-mails daily advising me this is my final notice....Cashnet won't default until tomorrow. So I'm really not sure what that one will do.