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Date: Mon, 01/28/2008 - 14:57

Submitted by angelmerrell
on Mon, 01/28/2008 - 14:57

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Total Replies: 45


My husband took out a couple of payday loans behind my back and they took the money out of our bank account so i went to the bank and had the bank return the amounts because i did not know about the loans and figured they were unauthorized charges.
later do i finally find out that he took out these 2 loans and they are emailing him saying they are going to report him to the f.b.i. if the amounts are not paid immediately.
there is no way we can afford to pay the amounts that they want.
what can i do about this. I am scared to death he is going to get in trouble or i am going to cause i thought they were unauthorized charges.
PLEASE HELP.


Angel, First, I am going to ask a Moderator to move this to the Pay Day Loan fourm becuase you will get many more responses there....next, please list what state you are in, which companies he borrowed from, how much he borrowed from each and the total of how much you have paid back to each. Once we have this information, we can begin to help you.


lrhall41

Submitted by RoxyNY on Mon, 01/28/2008 - 15:55

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oh sorry

internet
names: paydaymax.com and mycashnow.com
amount 300 each
none paid back yet cause i just found out about them and the amounts they did take out of our account i had the bank return them.
i want to pay something but there is no way i can pay the interest they are saying needs to be paid all at once


lrhall41

Submitted by on Mon, 01/28/2008 - 22:54

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Ok calm down. No one is going to put you guys in jaol. Here are the laws for your state. Is your bank account closed? If not, these people will just go back in and take it all.

You will find the Payday loan laws for Illinois here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


lrhall41

Submitted by kashzan on Tue, 01/29/2008 - 05:03

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Angel, take a deep breath and take one thing at a time. First, Kash is correct, these Paydayloan scum will go back into your bank account.Pleae do not try to negotiate with them until your account is closed and cannot be forced open. See the info at the top of the page about closing bank account. Once your account is taken care of you can email and snail mail a letter to the pdls revoking their ability to take ach payments. There are several people here with great letters to send out. ALso, your husband may have signed a wage assignment with one or both of the pdls. He will need to send a letter revoking the authority to wage assignement to the PDL and he will also need to notify his employer. Then, after all that is done you can talk to the pdls about a payment plan to pay at least the amount borrowed. You can tell them how you want to pay them, ie money order. Do not give them bank account info ever again. Hope this helps.


lrhall41

Submitted by stargzr on Tue, 01/29/2008 - 11:03

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yes i did in fact close the bank account after the 2nd time i thought they were unauthorized charges cause i did not know about them. Not sure what Star is talking about a wage assignment. He doesnt work at the same comany he did when he got these so I dont know if that means anything or not. Can anyone out there send me a letter I can send them for this matter and how do I find out the email and snail mail addresses for paydaymax.com and mycashnow.com?
I really do appreciate everyones help. Last night was the first night I got sleep cause I was not worrying about this non stop so thank you to everyone who has been willing to help me.


lrhall41

Submitted by on Tue, 01/29/2008 - 12:51

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Hi Angel, that is good that your bank account is closed and hubby has a new job. The wage assignment is something voluntary that everyone signs off on when they get a payday loan. Some of the folks here have had the pdls actually send the wage assignment to their employers. At least one person's employer believed it legal and was going to send the pdl money from the persons check. Doesnt sound like this is going to happen here since they do not know your husbands employer. SOmeone will be along with letters for you to send and addressess for the 2 pdls. If you have time you can do a search of both of them in the search box at the top of this page, you will probably find the address, phone, fax numbers by doing that. I am glad you were able to sleep. THese things can be so stressful. We have all been there and understand and we are here for you.


lrhall41

Submitted by on Tue, 01/29/2008 - 13:19

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OMG I am sorry volleyballmom. I am such a dunce. Yes Angel, she is who I was speaking about. You can cut and paste the letter she posted above your post. Then put in your own state specific info. I love the letter she wrote and it seems to work very well. Sorry again Volleyball mom! I am the baseballmom LOL.


lrhall41

Submitted by stargzr on Sat, 02/02/2008 - 23:38

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does someone have letters they can show me for 1. revoking the authority to debit my account and 2, cancelling voluntary wage assignments


lrhall41

Submitted by on Sun, 02/03/2008 - 07:14

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this is what they have just emailed me:

Quote:

We have received information from your bank that you have closed the account, which you authorized to be debited in order to repay your legally binding loan obligation. We consider this to be a refusal to repay your debt and will immediately initiate action to protect our interest. We must require that you render your payment in the amount of $620.00 via western union quick collect or moneygram immediately. This payment reflects your balance as of February 6th 2008.

We may also initiate other action, which may include, but not be limited to, obtaining legal representation, (which would create additional charges to you), if we do determine that a request be made for service or a court appearance for a possible judgment be issued against you for the repayment of this legally binding debt.

Depending on the circumstances surrounding how you obtained the loan, we may also initiate internal investigation to ensure all information submitted on the loan application was accurate and not done fraudulently in order to attempt to obtain a loan under false pretenses. If we determine you obtained the money fraudulently we will initiate action to protect out interest to the fullest extent of the law. The Federal Bureau of Investigation and other governmental agencies, have established many laws and regulations in regard to Internet fraud and procedures the federal government adheres to when this type of information is reported.


lrhall41

Submitted by on Wed, 02/06/2008 - 19:47

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Keep that email and get in touch with someone here:

Where to Complain, Get Information:
Regulator: Illinois Division of Financial Institutions
Address: Consumer Credit Section, 320 W. Washington Springfield IL 62701
Phone: (888) 298-8089
Fax:
Regulatory Contact: Phil Sanson,, Acting Consumer Credit Assistant Supervisor
Regulator Website
http://www.idfpr.com/dfi/default2.asp

Do it right away and give them a copy of this email.I would also consider contacting the FBI and giving them a copy of this email. I know that sounds rash, but this needs to stop!


lrhall41

Submitted by volleyballmom on Wed, 02/06/2008 - 19:57

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Email this back to them:

I have contacted the Illinois Division of Financial Institutions and the Illinois State Attorney General????????s Office regarding your internet payday loans and was informed that Pay Day Max is not licensed to lend in Illinois and was advised to pay what is due according to principle amount only of the loan. I will also be contacting the Federal Bureau of Investigations tomorrow and will give them a copy of the email you sent to me on February 6, 2008. I will be inquiring with the FBI first hand on what laws and regulations are in place, which once I have supposedly violated and how this applies to the illegal internet payday loan that was granted to me by your company.

Be advised that all of your emails from this point will be immediately forwarded to the Illinois DFI for their records.

Thank you


lrhall41

Submitted by volleyballmom on Wed, 02/06/2008 - 20:06

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Angel, the FBI is not going to come after you. They have their hands full as it is and are not going to waste their time on a $ 300.00 debt (or whatever the exact amount is). The FBI investigates criminal behavior and will pursue cases with the assistance of the state AG. It does not do the FBI any good to spend a bunch of time and money investigating an alleged crime that the AG can not or will not pursue.

Especially for a couple of hundred dollars. It isn't going to happen.


lrhall41

Submitted by on Thu, 02/07/2008 - 08:12

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It no problem :D But you should definitely get those emails to the proper authorities.

If you would like to pay them via WU, go ahead but i would personally just send them a money order certified mail.

Also, I posted another letter on this thread....if you havent sent them that letter, you should right away. This is telling the PDl that you are educated in terms of them being illegal and that you are only paying back the principal amount.


lrhall41

Submitted by volleyballmom on Thu, 02/07/2008 - 10:47

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so i mailed out all if the letter over a week ago and i got one back today from my cash now and i got a phone call tgoday from one of their credit protection departmentsthey would not talk to me but asked that my husband return their call and when i said can i have your number she said oh i thought you had caller id lol. should i have my husband talk to them on the phone? in the letters i told them i needed a reply by mail by feb 20th.


lrhall41

Submitted by on Sat, 02/16/2008 - 16:46

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angel, is the loan in your husband's name? Is that why they asked to speak to him instead of to you?


lrhall41

Submitted by cannr on Sun, 02/17/2008 - 04:37

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