pdl elimination help in California

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

Regarding your store fronts, if they are members of the cfsa, they must give you the epp.(extended pay,ent plan),. This enables you to pay off your loans in 4 installments. You must go in person to get the epp, and you must go prior to defaulting on your loan.

I'm going to change the subject a bit.....I know 'Guest San Diego' had some PDL issues. However....I just wanted to say 'hello' to him/her. I'm originally from San Diego. I wanted to PM you, but..because you are a 'guest', you don't have a PM box. Also..wanted to say welcome to the forum. I've been on this forum, for 3 or 4 months now. Great advice and help, from everyone here.

Thank you all for your advice. I have been reading this board and have good information in hand. I have begun the process of getting out from under. I have started a dialogue with my bank (WellsFargo) and am preparing to close my account. I will go in and get the application for my two storefront accounts to pay the loan back. But, what do I do for the existing Internet accounts when they come calling? I have paid back in fees more than the original borrowed amounts in many cases, does that make them paid off? Do I need to send them a cease and desist? From what I've read I have legal backing but how do I wield it?

I'm sorry if these are basic questions but I don't know the answer.

Thank you again for your advice.

Hi there...I am also in CA.

For sure, one of your internet PDL's is legal in CA and that is CashnetUSA and ameriloan is not supposed to be doing business in CA anymore as the CA State Dept of Corporations has a Cease and Defrain order. I will check on the others for you.

You should also register on this site....one of your PDL's might issue you a paid in full if you sign a confidentiality agreement. I cannot post the info here, but I can send you a private message about it.

Vollyballmom, thank you for the information. I have now registered on the site. If the lenders are "legal" what does that mean? I have no problems paying them back but can I stop the fees from accumulating while I recover enough to be able to do so?

Glad to see you registered!

The Legal lenders are licensed to do business in CA and follow the rates outlined in the PDL laws posted in this thread by cannr. Those are the laws they must follow.


The loans listed above, #1-6 you have overpaid already. #8-10 are legal so you will need to make arrangements to pay.

About #7...What is Credit Protection Loan? Do you pay back the full $700?


BTW-nice job listing out your PDL's!

Credit Protection Loan is the way it comes through or bank it is really Discount Advances this is what they say on their site: JURISDICTION. The transactions related to loans will be deemed to have taken place in the offices of DiscountAdvances.com Inc. and according to the laws of Grenada, regardless of where you may be viewing or accessing this site.

I tried calling the California Department of Corporations and they did not really help me out. They told me to track down all the addresses for the companies and file complaints. They also said that it will take at least two weeks. Has anybody gone through this process before? Were they hard to work with? What was the outcome? Any tips for filling out the paperwork?

I am really at a loss for how to handle this and what to do next. The fees are all scheduled to come out this weekend and I am sure they will start calling next week. How can I stop them from contacting my references and will they try? Wells Fargo has set up another checking account for me and once all my pending items are complete then they will close the other account. It looks like I should have it closed by Thursday. I explained why I was closing the account and they told me that there is no way the PDL's can force it back open. I am praying that they are right.

Here are a few more questions that I have:

1. If I have overpaid on several of these accounts, how do I let them know? Can I be reimbursed for the amount over paid?

2. Will they and can they report me to the credit bureaus and telecheck?

3. Who????????s should I be contacting next?

4. What does it mean to me when there is a Desist & Refrain Order or Administrative Action listed for one of the companies that I listed?

I am so grateful to all of you for your help and support. I really feel like an idiot for getting myself into this mess.

The transactions related to loans will be deemed to have taken place in the offices of DiscountAdvances.com Inc. and according to the laws of Grenada, regardless of where you may be viewing or accessing this site.


your state laws prevail. You are not under the jurisdiction of Greneda.

Some companies will refund, but others will not.

Glad you registered & welcome to the forums!! Please, please don't feel like an idiot. We have all been in your shoes and with a little hard work you can overcome this. We are here to advise and support you any way we can. Keep your chin up & know that you have lots of friends here who will help guide you through this.

Quote:

Here is a letter for you. Send this only after you have confirmed that your account is closed.





Date

Name and address of the PDL

After doing research on internet payday loan laws in the State of California, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of California in general:



California State Information
Citation:
Cal. Fin. Code ???????? 23000 to 23106

Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited



After finding out that your internet payday loans are illegal, your company should actually not issue loans to California residents at all.

I have contacted the California Office of Financial Institutions and the California State Attorney General????????s Office regarding your internet payday loans and was informed they are indeed illegal in California and was advised to pay what is due according to principle amount only of the loan.

I have currently paid XXXX DOLLARS on my XXXX DOLLARS loan. The legal amount that could have been charged to my loan is the principal amount of XXX DOLLARS even if your internet pay day loan was legal in California. I have paid XXXX DOLLARS on this loan by your debits of my bank account and only owe XXXX DOLLARS to have this paid in full. I am willing to pay the amount of XXX DOLLARS to pay the principle amount of the loan only, as advised by my Department of Financial Institutions and the California Attorney General's office. I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan. I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan and send me a refund of $XXXX.


I demand a physical address to mail payments to, as you are no longer authorized to debit my bank account.
You must provide me with a physical address to mail my payments. I will not Money Gram or Western Union any payment. If no physical address is provided for me to mail payment to, no payment will be made.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from the California Attorney General's Office.



I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the State of California.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.

I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, and the California Attorney General's Office.

I expect a response from your company no later than XX DATE, regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Please respond by XX DATE, regarding this matter by US Postal mail or by email only.





Your name
CC:
Better Business Bureau
California Attorney General
Federal Trade Commission

About your two storefronts...Advance America and Money Tree. Dont send them the letter I posted above.

They are both members of the CFSA... which is the The Community Financial Services Association of America.

They have a service called the EPP, Extended Payment Plan. This will allow you to pay them off in 4-installments. you would need to go in there and request it at least 1 business day prior to the due date.

Does anybody have the addresses for the following PDLs? I am trying to file complaints and was told that I need their addresses. Thank you in advance.

1. ameriloan
2. Cash Advance Network (CAN)
3. Cash Link
4. LoanShop
5. Chieftan
6. ZipCash
7. CreditProtectionLoan
8. CashNetUSA

I am going crazy trying to find current addresses!!!

That last post was from me: snwski3, I was logged out for some reason - sorry

snwski3. You can put the names of each pdl in the search box at the top of the page and you probably can get addressess from other peoples posts. Otherwise some of the other members that have addressess will post them. Good luck to you and please do file those complaints with the Ca agencies. I live here too and hope that someday Ca. will stop these slimeballs from lending here.

ameriloan
Phone: (800) 362-9090
Fax: (800) 475-1379
Address: 3531 P St. NW
Miami, OK 74355

ZipCash-SFT LLC
Address: 314 N Riverside Dr
Espanola, NM 87532
Primary Phone: (866) 320-2947
Primary Fax: (866) 922-7401

Is it CashLinkUSA???
CashlinkUSA
Address: 3916 Juan Tabo Blvd NE
Albuquerque, NM 87111
Primary Phone: (877) 355-4207
Primary Fax: (877) 355-4208

Loan Shop
2207 Concord Pike Suite 505
Wilmington, DE 19803

Cash Advance Network
Address: 11024 Montgomery Blvd NE PMB 265
Albuquerque, NM 87111
Primary Phone: (800) 992-9200

Cash Advance Network
Phone: (800) 333-1666
Address: 1894 US Highway 50 E STE 4
Carson City, NV 89701-3202

CashNetUSA
Phone: (888) 801-9078
Fax: (888) 801-9075
Address: 1600 W 7th St
Fort Worth, TX 76102-2504

I can't find anything on the "Chieftan" or the "Credit Protection Loans". Are they using a different name maybe??

Cannr-Cashnetusa In Texas?
I have this address for them (from correspondence they have sent to me and from their website)

CashNetUSA
200 W. Jackson Blvd., 14th Floor
Chicago, IL 60606-6941

Different place in Texas maybe?

Great! This information is what I got off the BBB site. They had three addresses come up; however, all three were the same. This one that I copied and posted was noted as the headquarters. However, if you have a more "updated" address, wonderful! Sometimes the BBB isn't current. :D

They are alive and well in Chicago! :lol: :evil:

Crap. They didn't fall off the face of the earth yet?

Unfortunately not :( ....but they do want to settle with me for $100 on a $250 loan, which is a deal considering they are legal here.

I am another Californian here who has dealt with Advance America before there was a CFSA and thought they were complete boogers to deal with. My advice to you is to go in there PDQ and get those papers signed ASAP. And also, keep your paperwork in a safe place--the reason being that if they lose it on their end, they might come after you. As long as you have your paperwork, you should be OK with them.
ameriloan is completely illegal--and please, file a complaint with the Dept of Corporations on them. It does take awhile, but it's worth it, trust me.

volley, did you pay any on the principle? If they're willing to settle for that amount and they're legal, I think I'd be all over it! However, I don't know what you've already paid them.... But at least you have a "good" address on them for this member!

cannr...not a dime, since this is one of the few internet legal pdl that doesnt rollover or anything...you just reloan. And they actually follow the rules believe it or not.

Ok, I just checked with my bank and everything that needs to clear has cleared. I am going NOW to close it, get a bar on any ACH transactions, freeze, whatever it takes. With the addresses above and the information that you wonderful people have given me I will begin the next step: communicating with these pdl's to stop the insanity.

I want to reiterate my thanks to all who have helped me get the information that I needed to take on these people. The "not knowing what to do" really immobilizes a person and they just take advantage.

I will keep this thread alive with posts detailing the ongoing battle.

Excellent plan!!! :D Please keep in touch and let us know how its going.

We're here for you!

snwski, please post any questions or problems. We are here for you. We will help you with whatever you need!

Ok, so I talked to the storefronts and they were actually rather easy since I was a long time customer and likely had been paying their salary. One of them went over the pro's and con's of the 4-payment program that they offer, contrasting it with allowing the check to bounce and working out payments on my own. It got me to thinking (that and reading many, many posts on this site) that maybe it would be better to utilize a debt consolidation company to help handle these pdl's. If, as some have said, a consolidation company will handle the communication, negotiation and payments then wouldn't it be worth it?

My credit is already hosed so I am not in fear of collections appearing there. The debt consolidation companies "appear" to have much lower payment amounts than I could arrange, which would allow me to get my other debts back under control (ie, utilities, car loan, etc).

Basically, it sounds too good to be true.

Is it?

I'm so glad I found this forum! If not for it, I would never have known the real rules of payday lending and what laws I have on my side.

I currently have a loan with Payday Yes in the amount of $750, this is my second loan with them, first one was fine. This second time around though, about a week after I took it out, I had my income substantially decreased and needed to put all my bills on consolidation. I was told by Payday Yes they didn't work with companies like that, but could set up something through their own collection department. Long story short, I revoked ACH authorization twice over the phone which did nothing, and my bank account was seriously overdrawn. I've disputed the debits through my bank, and now sending in writing a revocation of ACH withdrawals.

I've almost paid the original loan amount in fees alone, and want to make arrangements to settle it once and for all. I did a search of their LLP and they're not registered in the state of CA.

Hopefully thanks to the info I've found here I can get this taken care of in a more efficient manner!