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I am writing to find out how I can solve my payday problems.

Date: Mon, 01/28/2008 - 14:49

Submitted by anonymous
on Mon, 01/28/2008 - 14:49

Posts: 202330 Credits: [Donate]

Total Replies: 18


Hi I am writing to find out how I can solve my payday problems. I have 2 maybe 3 loans out all from the internet. The first loan is from Payday 1 and the amount is $500. The second is with ACH Loans and the amount is $200. However the second company has racked up fees to almost $700 and I had my account closed because they kept trying to take money out every week resulting in more overdraft fees. I need to know if there is any legal action these company can take, as that would cause even further financial problems. Any advice would be very much appreciated..


Payday One is legally licensed in every state it lends in. That means that if you don't pay, steps can be taken to collect on the debt. They could potentially sue you and garnish wages or attach bank accounts.

ACH loans is another story. They are not legally licensed in any state I know of.

What state are you located in?
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lrhall41

Submitted by goudah2424 on Mon, 01/28/2008 - 14:56

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I live in Texas and I have made arrangements with payday 1.. So I am all good there it is this other company that is giving me alot of trouble. Thanks for all your help


lrhall41

Submitted by on Wed, 01/30/2008 - 06:46

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Let me check and I will tell you how - I know that every state that I've seen them lend in they have been licensed or a CSO.

They may be a CSO, or they may have another way to get around the laws of KY. All I know is that they are one of the few internet lenders that actually respect state laws.


lrhall41

Submitted by goudah2424 on Wed, 01/30/2008 - 07:37

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Thing is, why would a company pay for licenses in all the other states and not in KY? There has to be a reason why . . . . There must be some hole or something like the CSO thing that they are using to get around the law. Otherwise they wouldn't lend there. There are many states they don't lend in because of the laws.


lrhall41

Submitted by goudah2424 on Wed, 01/30/2008 - 08:00

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From my own personal experience, I will tell you now that ACH loans will harrass you like mad. However, they are located either in India and/or Ireland and I doubt they're legal anywhere, and I doubt they can take action against you here (maybe someone else can tell you more accurately on that account than I can, though). They've been calling me saying they're gonna come and get me, that they're gonna see me in the British courts, and so on. And to make matters more interesting, the telephone number they call you from is, I believe, a Utah area code! (might as well not try calling back on it, you won't get through) Hopefully you'll get out of the mess, soon.


lrhall41

Submitted by on Wed, 01/30/2008 - 12:51

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Close your bank account and open another elswhere, the payday loans are illegal! I had 8 out was paying out over 800 a month and just could not do it anymore, its been almost two years and I havent been sued yet though I get letters from laywers but not certified, go here creditboards.com and look under payday loan I am


Links to outside sites are against TOS - So is advertising - Goudah


lrhall41

Submitted by keli449 on Wed, 01/30/2008 - 13:01

( Posts: 4 | Credits: )


The payday one company uses a CSO.. I have no idea what that is but I checked there website and it says CSO fees. As for this ACH loan they are relentless they call my job at least 5 or 6 times a day..


lrhall41

Submitted by on Wed, 01/30/2008 - 14:21

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