Help with Online Payday Loans in Alabama

Hi Jen. Hang in there help is on the way. Can you please list the name of the pdl company how much borrowed, how much paid so far and if the company is storefront or internet. I am going to post your state laws and after you post the info someone can help you with advice. Welcome to our forum.

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

I will get all the information to you. Thank you

All these payday loans are on-line. Should I close my back account? I trying to get something going before I get paid again. This rate I will not have any fund left over to house payment.

Geneva Roth $300.00 $90 due on 2/15 First time rollover

JD Marketing Grp $300 $90 due on 2/15 First time rollover

Elect Pymt Process $300.00 $ 90 due on 2/15 First time rollover

MyCashNow $750 $259 rolled over 3 times

NetCashNow $300 $90 rolled over 5 times

MTE Financial $300 $90 rolled over 5 times

Loanshp/Cimarron $300 $ 90 rolled over 5 times

Big LTD $200 $80 rolled over 2 times

National Payday Devi $300 $90 4 times

Midland Financial $300 $90 4 times

800-444-0555 $400 $70 2 times

Impact Financial Payday $300 $90 2 times

I called Impact Financial and ask them not to debit my account this pay period and they said that they would not but they still debit my account.

Please help me on what to do.... I really feel like closing my account.. Please advise and also help me with what I should do.

Thanks

Jenh before you close your account make sure that it cannot be forced open by debits. If they cannot force it open then you probably should close them. After it is closed then you can send letters to all of the PDL;s and make arrangements to pay the principal only. Just at a glance some of them are illegal payday lenders. Please be aware that once they cannot rob your account they will start calling you at home and work so be prepared. Read the other stories on here for some advice and support. Good luck to you. I am sure the very knowledgable people here will be along with letters to help you. Also, revoke any wage assignments you may have signed. There is a letter that Volleyball mom has that covers all of it. Just send her a message and she can send it to you. Good luck!

You may also be able to get a refund from a few of the illegal ones, I noticed that on some you have multiple roll overs when your state laws only allows for one.

I'm not not what if any are legal, hopefully someone more knowledgeable comes along.

Thank you for your help. I will keep my finger crossed that some people will be able to help get some of the refund back and get this to stop... Has anyone ask their back to put it on deposit only or ACH block account? Please advise if anyone has did this with their bank??

Hi Jennh-I got your PM and I sent you a Pm back with the letter. :D

Thank you for help! I just spoke with my back and I will be able to put my account on Deposit only Hold. Are there any other letters that I need to send to the pdl company?

I am about to be sick to my stomache.... I can believe I have got myself in such a mess.... Do I also give this letter to my HR department, too.

Hi jenn...I sent you a PM back with the letter to send to the PDL's.

Do I give different letter to my HR department?

You can "cc" your HR dept at the bottom of the same letter, and give them a copy of it. Hold on one sec and I will also post a copy of the cover I used to send to my HR dept

Thanks so much for you help!

Here is the cover letter I used when I sent my note to HR. I attached copies of all of the letters I sent to the PDL's.

Where you see all capital letters, just choose which one fits...it doesnt have to be in all caps in your finished letter.

Thank you for your help. I do not send these letter until I have my account on deposit hold. Please advise!

Yes ma'am! Do not send them until your account is taken care of. :D

Once you put your account on Deposit only. Do you have pay all the money back if you rolled over the loan a few times?

Hey jen....we always condone paying back the principal amount and if you have paid towards the loan, whether it was a rollover, etc...its still money paid.

..and you can choose to pay the PDL the remainder of the principal some other method, like a money order or a pre-paid debit card. Never a check!

If these are not legal pdls, here is the run down:

Geneva Roth borrowed 300/paid 0/owe 300
JD Marketing borrowed 300/paid 0/owe 300
Elect Pmt borrowed 300/paid 0/owe 300
my cash now borrowed 750/paid 777/OVERPAID 27
Net Cash Now borrowed 300/paid 450/ OVERPAID 150
MTE borrowed 300/paid 450/OVERPAID 150
Loan Shop borrowed 300/paid 450/OVERPAID 150
BIG borrowed 200/paid 160/owe 40
Natl Payday borrowed 300/paid 360/OVERPAID 60
Midland Financial borrowed 300/paid 360/OVERPAID 60
8004440555 borrowed 400/paid 140/owe 260
Impact Cash borrowed 300/paid 180/owe 120

If they are not legal pdls, you are only obligated to pay the amount actually deposited into your account. However, if they are licensed to lend in your state, then they would be allowed one rollover. Which then you can deduct from the amounts above.

Guest-can you tell us which of these are legal? That way we will know which ones are eligible for a rollover?

Thanks!

Will I ever see the refunds from these companies that I pdl with

I had a payday loan for $300 with Sandpoint Capital, after 4 deductions for $90, I to had to close my checking account. Today I received a phone call from a collection company demanding $800 and if I did not send the money via Western Union I was going to jail. I would never see my children, yada yada yada...They guy also told me I could die in jail! Now I can not get anyone at Sandpoint to help me settle this. What do you suggest?

Quote:

I will be happy to have them paid in full. How soon do the calls start after pdl find out that my account has been put on deposit only. Or will it back to them has account closed?

It varies....my calls didnt start right away but boy when they did!! Most of them though did actually listen and not call me anymore per my letter...but lots of emails.

I just tried to put my account on deposit only. The Bank would not let me. I will only be able to put it on debit hold tomorrow. Some of the pdls will start debiting tomorrow. What will I do... I do not want any NSF fees. I took all the funds out of my account. Please advise... I panicing over this situation

I asked my bank to put my account on close to debits. Went I left the bank yesterday, the BMgr was my account on close to debits. b/c she never heard of direct deposit only..... Now I am overdrawn -861.29 in my account. I live in alabama. The reason the account is overdrawn is because of illegal paydays loans. I really need some help.
I thought I was doing everything right. Will my account keep getting overdrawn. I feel like I am so sick to my stomach. I do not have -861.29, I really need advise.... I am so scared that this will not end and I am going to in a bigger mess..... :?

Jen, You bank was supposed to placed a debit block on you account so the PDL debits would not go though? I would bet that your bank allowd the debits to force your account open...that happens sometimes. You need to go into your bank first thing Tuesday and dispute the debits...talk to the same person who you spoke with on Friday and demand to know why this happened when you were told there would be a debit block. Do whatever you can to get them to reverse everything. Members have posted this happening to them and in some cases it shows a negative until the bank reverses it. IN other words, the computer has to allow the debit and then will reverse it. But you go talk to your bank to determine what your situation is and do whatever you need to get those debits and/or charges reversed Please do not be sick. I know it is easy for me to say but you need to hang in there. I am not saying this battle will be easy or that it will go smoothly but it is worth it in the end.

Hey Jenn....responded to your PM and your letters look great!

As roxy recommended, head back into the bank and also let the bank know that you had revoked the ACH privleges of the PDL's and that they need to reverse the debit.

I am so confused right now. That letter takes care of the ACH charges. I bank in Alabama with Regions and it seem like they are being understanding. When I demand then to send back the charges will that happen.. will that reduce the -charges. I was able to open a new account at another bank... but I so scared that this going to backfire.... I will I would have never open these pdls. I can I fill out something with bank to dispute the debit?

Its great to hear you have another account at another bank opened.

In order to get this situation you have with Regions taken care of, go into the bank and tell them that you revoked the ACH privleges of the PDL's and that you dispute the ACH debits that the PDL's put through. Fill out whatever paperwork they might need you to...every bank is different about paperwork, etc. Be firm and let them know that they were supposed to have blocked the debits in the first place.

Since it looks like the account is not closed to debits. When do I send out the letters? The bank situation has really confused me...

You account is $800+ overdrawn...did they actually pay the PDL debits? Or are these just NSF fees?

yes..paid some of the PDL they charge $33 for each NSF charge.

At this point, the letters cannot be sent until Tuesday...post office closed today and Monday.

On Tuesday,you will need to go back to the bank and do two things:

Dispute the debits from the PDL's
and close the account. Try to straigten out having them credit you back for the PDL's debits so you can close the account without being overdrawn.

As soon as you can confirm the account will be closed, send the letters asap. You dont want to send those letters until the account is closed.

When I go to the bank on Tuesday, do you think they will dispute the charges. I want to have everything right...My bank has really mess me up big time...Is this typical of a bank to let the debits come throught since I ask for close on debits.....

Sometimes the bank mess up....which has caused you a huge issue. They messed up...so you need to ensure you are clear with them on that AND that you had revoked the ACH privleges to these PDL's. So whatever the process that the bank has, like paperwork etc, they will need to deal with it.

Take in the letters you have drafted to the PDL's and just tell them that you alrady sent them.

Do I take the wage letter to the bank? I have a bad feeling about the bank since they have already messed me up. Thank you for you help. How long does it take to see the light, right now it one bad thing after another...Do you think I will not have to pay the bank with all NSF charges...?

Jenn, Yes, take the letters with you to the bank. And try to talk to the person who was supposed to block your account since they should be familiar with you. I do not know if you will have to pay all the charges but you can fight a good fight and do everything you can to get them to reverse the charges. I know it is hard to see the light at the end but it is there and you will see it. Fighting these pdls is not always easy and there will be ups and downs, but that is what we are here for. We will give you all the support we can. Knowing that one day, you will be able to keep all of your paycheck, pay bills and buy the things you need is quite a powerful feeling. Try doing what I do, when I get to the point that I can not deal and am doubting, read the success stories on the main fourm page and see what others have accomplished. You will be there too before you know it.

jenn, roxy's right. Take your letter. Talk to the manager (who I hope is who you dealt with to begin with) and see about those NSF fees being reversed off. In my case, I had a cow with all the NSF fees and wrote to the corporate office of the bank - attention President. I received a telephone call regarding it. Presto. The NSF fees were reveresed off within about a week. If all else fails, always go to the next higher level.

Jenn- As I also recommended a few times, take the letters in there with you on Tuesday. You have the letters ready to go per the PM we swapped...and get the account closed sinced you already have another account at another bank.

I too have a loan with them and several others.

I need to contact them but I seem to have misplaced their phone/web/contact information. Does anyone have it to post here?

I meant "Impact Financial Payday" - what is their phone/web/contact information?

I need to pay them off but I dont have their contact info.

I have been dealing with branch Manager the whole time... I will take the letters tomorrow. Demand to get the account closed. I will get you guy posted on what will happen...

Just be very persistant. They may give you a hard time, but in the end it will work out for you.

I will try to be very persistant...but I am a quite person....

Jennh,

Can you give me the phone number for Impact Financial Payday?

Impact Solutiononline 800-321-3886 or 800-707-0102

Thank-You!