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New Here and Need Help

Date: Tue, 12/11/2007 - 21:10

Submitted by katekuhns
on Tue, 12/11/2007 - 21:10

Posts: 9 Credits: [Donate]

Total Replies: 21


Hey everyone,
Found this site and figured I could get some help.
I live in Illinois and have the following internet payday loans out:

Cash Direct Express (GEC)
Rec'd 350; I've paid 210

Geneva-Roth Ventures (Loin Point USA)
Rec'd 300; I've paid 270

Omega Capital
Rec'd 300; I've paid 180

Plaza Funding
Rec'd 250; I've Paid 255

Loan Shop- Antilles Ventures
I've Paid 180

Arrowhead Investments
I've Rec'd 300 (not sure if payment was from the Loan Shop)

Cash Transfer Cneters (Northway)
Rec'd 600; owe 820


Thanks so much in advance for everyone's help.

Kate


kate, have you done anything with your bank account yet? You are dealing with some loans that will not be licensed/legal to lend to you. You need to first prevent these pdls from being able to access your bank account any longer. I am going to post something by goudah regarding closing your bank account. Read this carefully and post any questions that you may have. Also, you have a loan with Cash Transfer Centers. Highly illegal and overseas. They will attempt to send a wage assignment (not garnishment) to your employer. You need to quickly type up a letter to them stating that you revoke any and all wage assignments you have signed. Fax it/email it/mail it certified to them. Keep a copy & give a copy to your HR/payroll person. You need to do this now, as they must receive it before attempting to send it to your employer. I see that you have paid almost all the principle amount back on 3 loans. You paid Loan Shop $180; however, how much was deposited into your account? Arrowhead - have you had any debits by them? With a bit more information, we can help you. I am going to post the information regarding closing your bank account.


lrhall41

Submitted by cannr on Wed, 12/12/2007 - 03:49

( Posts: 9317 | Credits: )


Thanks for the info. I will ask for deposits only on my account, today during lunch.
Arrowhead i'm not sure if any has been taken out, looking at my bank statement, I have 2 withdrawls for Loanshop, but no deposit for them. I didn't know if Arrowhead and Loanshop were the same place.
Also does anyone have a template of a letter to use to send to pdl's and my payroll? Once I get the deposits only on my account then I will send out the letters this afternoon.
Thanks


lrhall41

Submitted by katekuhns on Wed, 12/12/2007 - 05:59

( Posts: 9 | Credits: )


Basically, it's ALMOST all the same thing. But the key here is that you do not want ANYTHING to go through on the account. So an ACH debit block will not be enough. A lot of pdls will find they can not do an ACH debit, so they will put through an electronic check. A hard debit block will prevent ANYTHING from going through - ACH debits, checks, even your own ATM/debit card. Nothing will go through. A hard block, I believe is the same thing. Deposit only status, I believe is the same thing. Just remember, you want NOTHING to go through on the account. No ACH, no checks, no ATM card, nothing, nothing. Block it all. This is why you will need another bank account at a different bank - so that you will have a working bank account for yourself.


lrhall41

Submitted by cannr on Wed, 12/12/2007 - 12:03

( Posts: 9317 | Credits: )


Went to the bank today, can't close my account since it's negative right now, but the manager said for me to cancel my direct deposits and use my live checks to open an account at another bank, and then pay back my negative balance to close the account. The bank will return anything that gets applied to my account. I will email/send/fax the letters tomorrow.
Thanks so much for the advice, I appreciate it:)


lrhall41

Submitted by katekuhns on Wed, 12/12/2007 - 20:46

( Posts: 9 | Credits: )


kate, I understand the bank not closing your account since it is in the negative. And I see that the manager told you anything that tries to hit your account will be returned. However, did the manager also state that there would be no fees assessed (NSF) on your account for any debits that try to hit it?? I'd hate to see the pdls hit your account, the bank reject them, however charge you NSF fees for each one.


lrhall41

Submitted by cannr on Thu, 12/13/2007 - 03:23

( Posts: 9317 | Credits: )


The hard block is now in place:) I have my new account open elsewhere and have cancel the old direct deposits and switched them to the new one. Also talked with my payroll, and they won't do voluntary wage assignments here without a court order. So that's good:)
As for Cash Transfer Center, since they are illegal, what do I have to pay back?
Thanks again so much for everyones help. I so appreciate. It's nice to be able to know that payday will come and I will have money to spend on my bills (rent and daycare) as opposed to pdls:)


lrhall41

Submitted by katekuhns on Fri, 12/14/2007 - 08:17

( Posts: 9 | Credits: )