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I am not sure where to start

Date: Thu, 02/14/2008 - 14:06

Submitted by anonymous
on Thu, 02/14/2008 - 14:06

Posts: 202330 Credits: [Donate]

Total Replies: 191


I have visited this site over the last few weeks and others trying to find a way out of the hole I am in.
I have both storefronts and Internet loan companies...many you have all had a problem with.
I just want to know the steps to go through to get them all off my back and paid.
I deal with Fifth Third Bank and have read on here that they will open back up your account if you close it. I have heard that some of these companies won't take minimum payments. I have taken out several in the last 30 to 60 days and am going to be really messed up when theat fifth pay day rolls around.
The storefronts I have dealt with for several years.
I could not access the link to self help letters. I am beginning to think bankruptcy would be better.
How I got in this shape was that my husband was out of work for many month's and then got injured and could not work...because of the storefronts, I took out the internet thinking I could pay them back with income tax money? Did not happen...not enough.
Now I am learning that they can take my pay or harass me at work?
Someone explain to me like I am a fifth grader, where to start?


Egypt, you have come so far with this and have done and excellent job dealing with these crazy people. Cannr is righ, ou need to file complaints against this company. They have to be licensed by the state right? So file with the state. Here is the information you will need...

Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill,

here is the complaint instructions

http://www.tennessee.gov/tdfi/crd/complaintprocess.html

here is the complaint link

http://www.tennessee.gov/tdfi/crd/CCF.html

Do not let this bi%$# get away with acting like this and trying to take advantage of you.


lrhall41

Submitted by RoxyNY on Thu, 03/13/2008 - 19:53

( Posts: 4178 | Credits: )


Unfortunately, I have never kept all the receipts. But I kept the last one, including the little receipt he gave me the other day when he explained what I had paid. I am going to have to check out the name of this company and see if it is a franchised business or what? I may have the option of taking it over their heads.


lrhall41

Submitted by egyptcrossarabs on Thu, 03/13/2008 - 19:58

( Posts: 257 | Credits: )


Try to find out if they have a corporate office. If they have a corporate office, you NEED to contact them. If they do not, then file on them themselves. Hell, I'd file those complaints and THEN find out if they have a corporate office. They still need to be reported regardless. If you need help finding out if they have a corporate office or anything, let us know. Do you know if there is more than one by that name in your city? Like here, there's a million Cash America's, Mister Money's, Cash Land's, etc. So you know they have a corporate office because there are so many. What is the storefront name again?


lrhall41

Submitted by cannr on Thu, 03/13/2008 - 20:01

( Posts: 9317 | Credits: )


That's what I was afraid of. We have a pdl storefront down the road from me that opened not too long ago. It looks like a "one man owned" type of place. It doesn't even have a name on it! So I'm thinking someone just got a license, opened up a little concrete building, and is now giving pdls. Wonderful. So, that may be the case with your storefront. It might be an independent pdl. Which needs to have their license yanked! Sorry, I can't help myself from saying that 1,000 times. Okay, you're in Tenn., correct? And the name is Bankway, correct? Just "Bankway"? No other name involved like "Bankway pay day" or anything like that? I want to see if I can find anything.


lrhall41

Submitted by cannr on Thu, 03/13/2008 - 20:15

( Posts: 9317 | Credits: )


Lord! You are right. It's like the only place they exist is in your Yellow Pages! I guess their "official" name is:

Bankway Financial Services
1003 Carmack Blvd
931-223-5263

Is this the correct place? I did a search and couldn't find anything except for the Yellow Pages ad (I also looked for Bankway Loan Company).

I then went to the state licensee database. I'm putting the link here for you to access it so you can look, too. I'm NOT seeing them on here. Unless they are licensed under a different name. Check it out and make sure I'm not blind or anything. Did you ever notice a license hanging on the wall there? It's supposed to be hanging up where it is in view of everyone.

http://www.tennessee.gov/tdfi/compliance/Lic_DP.html#B


lrhall41

Submitted by cannr on Fri, 03/14/2008 - 04:35

( Posts: 9317 | Credits: )


I read through each and every licensed name until I found the Proper d/b/a and the address matches the one Cannr Posted.....now you have all the information you need to file a complaint..Here you go..

LICENSE # 3408
JUNIFER M REEP DBA BANC-WAY LOAN COMPANY
1003 CARMACK BLVD
EXPIRATION DATE: 09/30/2008


lrhall41

Submitted by RoxyNY on Fri, 03/14/2008 - 04:53

( Posts: 4178 | Credits: )


I am a complete nerd and love to research! I speed read and it did not take me any time at all to click on the link Cannr posted and look for the d/b/a. Thought I would go crosseyed :lol: but it was fairly easy. Do be sure to file on them...even if they do not get shut down, you are loding an complaint and who knows, maybe others have filed on them too.


lrhall41

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

( Posts: 4178 | Credits: )


No time to log in...on my way to work. Got two letters from National Processing of America for American Consumer Credit. One for 125$ and one for 357.50$. I think I paid them 3 payement of 75$ and one of 32.50....fees of course. This is Cash Spot. I can't figure where they came up with the amount? $375 if they never counted the fees?


lrhall41

Submitted by on Fri, 03/14/2008 - 15:37

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roxy, you are the bomb! I hate, hate, hate it when they use different names on the licenses! It's even spelled differently! Good Lord! Awesome job!

egypt, this letter you received - is it a collection agency collecting for The Cash Spot? Is that what it is? If it is, we can have you send them a debt validation letter. Is it a collection agency?


lrhall41

Submitted by cannr on Fri, 03/14/2008 - 16:22

( Posts: 9317 | Credits: )


I read several other posts regarding National Processing where members talk about them collecting on things such as credit card debt. So I would guesss they are a CA. It can not hurt to send the request for debt verification. They are representing themsselves as a collection agency to Egypt. The most they can do is say they are in house and not 3rd party.


lrhall41

Submitted by RoxyNY on Sun, 03/16/2008 - 08:21

( Posts: 4178 | Credits: )


It is me...I am thinking that American Consumer Credit is Cash Spot that is how they appeared on my bank statement...not Cash Spot. Of course none of the Internet loans are *old* This one I got in Dec. and as I said, it was for $300 with a 75$ bi-weekly fee. I had one fee of $32.50 and I think two or three of $75.00...but what I cannot figure is the two bills...one for the $125 and one for $357.50$ Yep they will get a validation letter.
Cannr...it is most definitely a collection co. of some sorts.


lrhall41

Submitted by on Sun, 03/16/2008 - 11:42

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The two bills actually came in the same envelope from the collection agency...or whatever it is? Both are from ACC or Cashspot? As I said, even if they do not acknowledge the payments/fees, how can they come up with the two ammounts? I only borrowed $300...one time from them and as I mentioned, they took $75 maybe three times and $32.50 another.
Had a real set back today and it really depressed me. I sent my house payment in so it would go through my bank by Fri and this Mortgage Co. sent it through immediately. I am now $500 overdrawn. The temptation to get a *loan* was real strong, but I know it will only worsen things. How could I be so dumb. Now I will have uptteen thousand in overdraft charges as I had several checks meant to come through against the balance I had in the bank. My direct goes in tonight so they probably won't return them.
I probably will not have enough money to pay the PDL's that I am still juggling...so this may force my hand to arrange payments with the rest of them today...one day before they are due?
Stupid me AGAIN...this is so dpressing and I was just trying to get things paid on time...are at least before thirty days as this company does not allow things to go past thirty days.


lrhall41

Submitted by egyptcrossarabs on Thu, 03/20/2008 - 09:23

( Posts: 257 | Credits: )


Oh, egypt. I'm soooo sorry. That really does suck. Please control the urge to "get a loan". I know it's hard when things get like this. It takes strength. I am just so sorry this happened. Don't be depressed. There are going to be bad days (I wish there wasn't). But there are going to be good days, too. Here's a little sunshine for you. :sun:


lrhall41

Submitted by cannr on Thu, 03/20/2008 - 09:36

( Posts: 9317 | Credits: )


I just checked into a debt settlement company and they charge 15% of what your total debt is...that would be $3,000 for me. Gosh, that is a lot of money?
I posted in the debt settlement/consolidation part part but did not get a lot of response to my post, but I read some of the posts on there with mixed reviews on their success.
I cannot imagine why this company took the check to the bank instead of deposting it as they have in the past, but it sure messed me up. They will never again have me mail out something before the money is in the bank.
But you know what, it may be the incentive I need to *end* this spiral with those storefronts...I thought I could take a bit more time, but I know at $33 a pop, I will be close to broke if all those checks come through tonight that I thought I had money to cover.
Thanks for the sunshine...being in debt really sucks.
Have you all handled this debt thing on your own or have you had help? I mean such as in a settlement or consolidation company? Is it possible to do it on your own?


lrhall41

Submitted by egyptcrossarabs on Thu, 03/20/2008 - 09:54

( Posts: 257 | Credits: )


Egypt, I am so sorry this has happened to you. I have used a company and truthfully, it may have been the wrong company, but it did not work for me. I have done just as well working on this myself. But I have the time and desire to do so...and I do not mind dealing with the crap. I am by no stretch of the imagination an expert in this and everyone's case is different. You may want to try a different company. Initially, I worked with three companies and went with the one that I could afford.


lrhall41

Submitted by RoxyNY on Thu, 03/20/2008 - 10:16

( Posts: 4178 | Credits: )


Years ago, we used one of the first companies available and it did not work for us. We had to get out of it and by that time we were in a real mess,,,so I am reluctant to believe it could work now.
Basically on account of the fact that they did not *allow* for emergencies...my children were small and one Dr's. visit might throw things out of whack.
I am still reeling from the *overdraft* thing this morning. You would think by now I would be *smart* and not do this kind of thing. As I mentioned, trying to pay bills on time is what got me into the mess with the PDL's.
Gosh on every part of this Forum there are those like me who have gotten into this trap. I feel less stupid about it, but it makes me physically ill to think they get away with this and take advantage of those already having a tough time.


lrhall41

Submitted by egyptcrossarabs on Thu, 03/20/2008 - 10:24

( Posts: 257 | Credits: )


I know the feeling, they have opened up two new ones where I live in the past six months, and there are already 7 or 8 of them around here. and this is a really small town. I have been tempted several times to take those car markers that people use to mark up windows of cars, and write that on the window of the store front. :evil:


lrhall41

Submitted by RoxyNY on Thu, 03/20/2008 - 12:06

( Posts: 4178 | Credits: )


I think that the public needs to be made more aware of how difficult it is to pay these off when they get sucked into using them. More articles...and I find that.."This is meant to be a loan for short term use. Long term debt problems should be discussed with a debt counselor." warning to be an euphemism? It should say "Use of this loan may be hazardous to your financial health"...No?


lrhall41

Submitted by egyptcrossarabs on Thu, 03/20/2008 - 12:13

( Posts: 257 | Credits: )