Help!!! PDL are killing me....

Thanks...I will get the information to you but it will have to be later tonight as I have a previous engagment to go to and need to leave. Will you be on later?

Oh Lord. I think I'm ALWAYS here! :lol: It's fine. You do what you have to do. I'll be here. You can take your time and try to find the information. You won't be forgotten! Promise! :D

This is a very large and great community. When ever you have your info, there will be someone to help you.

Absolutely! :D Many, many people are here to help! Thanks, kash!

cannr....still can't log on. I am sorry it has taken me so long I had a death in the family and was not able to look things up. I will be working on it today and I will post it later. Can you, or someone, please post the wage assignment letter so I can send it to my HR department. I am in the process of getting the other letters out. I am still working with my bank on the affidavits. Nobody knows what they are doing there. The have only done 3 of them. They were all credited back to my account by their DDA office but do not know what that means. I had asked them if that meant they found them to be fraudulant or not. They need me to sit down with them to figure out which ones I should fill the form out as they have deposited the money into my account so they don't believe that I only owe them just the principle even when I showed them the laws. They are really not working with me. I am only filling these out because they told me I had to. I just did not want them to debit anymore. They did not know. I still have it on a block of credits and debits. So the bank is creating a lot more work for me.

mj, I have been wondering how you were doing...Here is a wage assignment letter that was written by one of our other members. It is a really good one.....

http://www.debtconsolidationcare.com/paydayloan/online-lenders.html

I am sorry the bank is being a pain and making you jump throught hoops. THe issue is not that they deposited the money rather, they have charged you way more than your state allows and that they are not licensed to do business in your state. They are dense. I know Cannr will be along later and I know she will be able to give you more advice. Hang in there.

Thanks RoxyNY...with the funeral and such I have not been able to log on. Maybe you can help me with this one. They are asking me how much I actually owe them if it was deposited in the account. They are saying it can not only be the principle as they have to make money off of it or they would not be in business. I told them they are illegal in Ohio and showed them the laws. I also told them in Ohio all I owe them is the principle as it is illegal. They are still not getting it. Any advice?

mj, What you could try is to explain that they should have not loaned to you in the first place becuase they are not doing business legally. They are not licensed to do business in your state...The state does not recognize them as a legitimate business so you are trying to make things right by just returning the money you borrowed back to them. Which you have done and then some. You do not have to pay any fees or anything becuase they are not licensed....They are not entitled to any money becuase the state of Ohio does not regcognize them as a business without a license.

Roxy one more question....before I found your site I had a loan with ameriloan and United Cash loan and I had paid both of them off. Because I had so many of the pdls I took loans out with them again. (again before I found this site) I still owe them money right now. The question is can I figure out how much I over paid them the first time and request that they apply this to the loan I currently owe and have the accounts marked paid in full or is this not something I can or should request?

mj, you can try that...I believe I have read where others have but I am not sure if it was successful or not...At this point the worst that can happen is they say no...which more than likely they are going to say about whatever you propose..unless you agree to pay them everything they ask for :?

I'll tell you from experience that they will not apply any overpayments from past loans to current loans. First of all, they're going to argue with you - period. They're going to say you agreed to the terms of the first loans, so why are you questioning the current loans. Yes, I know they are going to throw that in your face. Notorious for doing it. So, unfortunately, they won't cooperate. You can certainly try; however, that's the response you're going to get. Hell, they're going to scream bloody murder over you just wanting to pay the principle amount of the loan as it is! They are so evil! :evil:

cannr....I out the EZloan information that you needed because you were trying to figure out how much I overpaid. Here it is.....

11/20 they deposited $300
Paid:
11/30 77.97
12/14 77.97
12/28 77.97
1/11 77.97
1/25 127.97
2/8 114.97
2/22 101.98

Also can you post a refund letter again. I still can't log on and the copies are in my pm box. Also can I use the refund letter as a cease letter, and revoking of ach?

Thanks for you help!!

mj, here's the breakdown for EZLoan:

Borrowed 300.00
Paid 656.80
OVERPAID 356.80

I'm going to post a letter for you since you're not having luck with logging in. Now this letter will cover everything from revoking debit authorization, revoking wage assignment, not contacting you, etc. It'll cover it. However, just change it to fit your particular pdl. The name, the dollar amounts, the situation. For example, if you have overpaid, state the dollar amount overpaid and demand a paid in full letter and a refund for the overpayment. Might not get it; however, it certainly isn't going to hurt to ask! This letter covers what you're asking about (cease letter, revoking of ach, etc.) If you need anything else, we can help you!

Do you have more loans that you need help in figuring the amounts out with?

DATE

Name and Address of PDL

After doing research on internet payday loan laws in the state of YOUR STATE' S NAME, I have found that your company is not following the law. Per YOUR STATE'S NAME laws:

INSERT YOUR STATE LAWS HERE

I have contacted the YOUR STATE Office of Financial Institutions and the YOUR STATE State Attorney General????????s Office regarding your internet payday loans.
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 plus XXX (the legal amount of interest) 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 request a physical address to mail payments to, as you are no longer authorized to debit my bank account. 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 request 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.

Do not contact me via telephone at my place of employment or my home telephone number, or calling my references listed on my loan.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed.

I am revoking your right to debit in any way any account I may be a signer on. This includes any future accounts.

I have filed complaints with the Better Business Bureau, the Federal Trade Commission, my states Dept of Financial Reg, and my state Attorney General's Office.

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


Your name


cc:
YOUR STATE Attorney General
YOUR STATE Dept of Financial
FTC
BBB

Just change where it says "I paid xxx dollars and only owe xxx dollars" to "I have paid xxx dollars and have overpaid in the amount of xxx dollars. I demand that this account be marked paid in full/closed. I also demand a refund in the amount of xxx dollars that I have overpaid on this loan. Once this is taken care of, there will be no futher communication between your company and myself." Or something along those lines!!

Cannr thanks for the help one question. I have the total being paid of $656. I paid $77.97 four times not just once. Did I do somthing wrong in adding this?

After reading the question. I think I might know the answer but want to check. In Ohio I legally only owe the principle correct or is there an legal interest fee that I need to include?

No, mj! I missed one of your payments! Lord help me! Do not second guess yourself! If you see anything that you don't agree with, please always question it! You're right - my figures were wrong. I'll edit my post to reflect that. The total amount paid by you was $656.80.

I look at all of these that I have overpaid on and I just think to myself how the heck did I get myself into this situation....It really does make me sick to my stomach. I could have used that money for so many things.

It's okay, mj. When we all sat down to figure out our numbers, I think we were all sick. It really makes me more mad than anything. These people just continue to debit and debit and debit. For some people who don't really pay close attention to their bank debits, they've been taken for thousands. Oh, it just kills me.

I really do appreciate all the help that I have received from everyone especially you and RoxyNy. I don't know where I would be with this right now if I had not found you guys.

One more question. For Ohio there is no interest on the the principle because it is illegal in Ohio correct. I just want to make sure I have all the facts down. Thanks!

mj, I am always happy to help any time. You have done most of the work we have just pointed you in the right direction. You are correct about the interest. You only owe the principle. If you need anything else, you know where to find us :D

mj, our pleasure to help you out of the pdl mess! :D

I just got this letter from the Loan Shop after sending a letter three times....

The subject line was....Response: BBB Complaint

April 3, 2008


Molly,



A complaint regarding your loan currently with the Loan Shop Online has been received. I appreciate your patience and cooperation as we are attempting to reach an agreement to close your account.



SETTLEMENT OFFER: Account #: .... (....., Molly) is to be closed immediately. Refund: $300.00.



Ever since the loan was originated, both parties involved have fulfilled their obligations to honor the terms of the loan agreement. This was meant to be a short-term loan but I understand that you may have not been in a position to repay the full balance all at once. I realize that the fees can accumulate and add up to a rather large balance. I apologize for any frustration you have experienced throughout your repay process. I believe it is in the benefit of both parties to simply close the account today and honor your request for a refund. I have approved a $300.00 refund to be deposited into your account. This is not a loan; you have no obligation to make payments on this deposit. If this is agreeable to you, please sign and fax the attached release at your earliest convenience. Please retain a copy for your records. The attachment to this email is a release agreement that indicates you have agreed to end your dispute with Broadmore Ventures by having your account closed immediately. Your account will be closed IMMEDIATELY upon receipt of the attached release form.



There absolutely will not be any collection activity taken against you and this email is meant to confirm that in writing.



This email and the attached release form combined are written records that neither of us will continue to dispute the matter with the other. You will have no future obligation to make any payment regarding this matter.



My contact information is included below so, if you have any questions or concerns about the release or any other matter regarding your account, please feel free to contact my office anytime.



Sincerely,



William Mashburn

LoanShop Online

Phone: 888-265-5074 x3497

Fax: 866-323-6555


Ok I have a few questions.....First of all I have not complained to the BBB yet. So are they trying to say this is a settlement with the BBB? If so how can that be if I have not even complained yet. Also they owe me $960. not $300. Should I take it and run or repsond asking for more money? They also want to deposit it into my account can I ask them for a money gram or a US postal money order to be sent to me FEDEX first? Any advice would help.

mj, my personal opinion, I'd take the $300 and run with it. Just my personal opinion. They are easily offering that. If you want to fight for more, then by all means, go for it. You asked for an opinion, and I'm just giving one. Many, many pdls won't even offer a refund at all. I would take the $300 bucks. Just me though. You do whatever you feel is right for you. You said you haven't filed a complaint with the BBB. That's fine. This is probably just them settling it on their own before you file complaints. This way, if you mutally agree to this settlement, they know you won't file complaints against them. Whatever. They want to close it, stop collections, and give you a refund. I personally would be all over that. It's all in writing. However, like I said, it's up to you. As far as asking them for the refund in another form other than an ACH credit, absolutely. Ask them to send you a check and give them an address. Tell them you no longer have a bank account. Make sure that is agreed upon BEFORE you sign anything. They may not FedEx it to you; however, they may USPS it to you. If you decide to take the agreement, ask FIRST about the refund being in the form of a check or money order or whatever. If they agree to this, get it in writing, and then sign the agreement (if that's what you decide to do).

So this is not from the BBB although they are saying they received a complaint. So basically they are lying. I appreciate your opinion. Although that is not even half I think I will take it. I may still get money from my bank as they are investigating it. Although I do not know how that will go. Have you had your bank do that before and if so what was the outcome?

Okay, mj. Since this is an email straight from The Loan Shop, they may have just used that wording "BBB complaint" because in your letter it probably stated you would be filing complaints, correct? So, they probably saw that you were planning on filing complaints and took the iniative to settle on their own before the complaints could be made. More power to them! If you're okay with the $300, go for it, but like I said, get some kind of agreement IN WRITING from them regarding an alternative form of a refund other than ACH credit to your bank account before you sign the agreement and send it back. Now, as far as the bank issue, actually I didn't have to have my bank investigate anything. They just reversed all the debits off my account! :lol: So, in your case, continue to let the bank investigate and hopefully they'll find this was not legit and reverse it back so you get your money back. That would be awesome! Get this $300 and then have your bank find it necessary to get your money back from them that they got also! :D

The reason why I was confused where it came from was not just the wording BBB complaint but they say in the first line of the email that they have received a complaint. So that was just weird to me. My bank is the one that decided to pursue it and made me sign the forms. That was the only way I could get them to put it in debits only. They only went back 60 days and did put all of the money back into my account for all of the ones that I filled the forms out for; however, I see that they have taken one back out from me. I assume this means they did not find it fraudlant even though it is. I have to give them a call tomorrow to see where all this stands as I have not received any information from them just that I see the credits of over $2000 and the debit for $114 which was one of them. I did receive one letter about 20 days after I submitted one affidavidt and it said that they had put $170 into my account which was an amount of one of the forms I filled out. But nothing about the other 20 forms that had been filled out. I had to fill out a new form for each pdl each time they took money out.

Good Lord! :shock: Your bank is making you WORK at this! Geesh, mine just reversed them all once I went in to close the account. But, we could have very different circumstances - internet pdls are totally illegal in my state - period. So, that was a plus for me.

PDL's are illegal in my state too but my bank told me I could not put debits on hold if I did not fill the forms out. Which ticks me off because I thought by law I could put a debits hold on my account. They stopped them from getting any more money but they did say they would go back 60 days and investigate for fraud.

Oh and they will not let me close my account even though I had money in the bank when I went to them.

You can close your account no matter what. I think that is your right? How can they say they will not close your account?

mjm, so I think Loan Shop may be having some problems, maybe serious, because I recieved a phone call from them 2 days ago offering a settlement. I was very confused. I didn't call back because I thought they were offering me a settlement of what I owed them, which didn't make any sense since I had never defaulted. I also have not sent them any letters yet. Now I am wondering if it was a settlement from them? Maybe they have gotten into alot of trouble? Or maybe it's just a coincidence? Anyway, just thought I would share. Thanks!

Hi Mj, I hate to say this, but I would file a complaint against your bank as well. I just can not wrap my brain around why they are making things so difficult for you. In the first couple of pages of your thread, I posted some information regarding complaints against your bank in case you need it.

momof1_1990... yes I am sure they are in trouble. I had recieved one phone call from them when I defaulted and that was it. It took three times of the letter but I had not complained to the BBB yet so I am not sure why they are saying they received a complaint from them on my behalf other then they know they are in trouble! Maybe you should get your letters out so you can get a settlement.

Roxyny...I do have the information about filing a complaint against the bank I was hoping not to have to do that but I think I am going to do so. At the branch they did not even know what to do. And they said that they can not keep it on debits only for a long time so I will be contacting the OCC to have them look into it.

I just checked me bank account online and they had credit me over $2000 when I fill out the forms for them and now they have taken all of it back except for $366 which I assume they will be taking. I guess they are finding that this is not illegal in their eyes. Is there anything I can do for that? I have gotten no response from them on any of this.

Mj, I am so sorry they are acting so bad. HAve you asked them what they are up to this time and what their explenation is for this?

I have not given them a call. I had planned on it yesterday but as you know life gets in the way sometimes. There was more money in there yesterday so now I am going to call today so I can find out why. I am sure they will say that I signed an agreement to pay them which I did but I did not know it was an illegal action. I am not going to call the branch I am going to call the DDA office. I believe they said they would send me info. but have received nothing but one letter stating they deposited $170. I think when I call the OCC I will ask about them not giving me the money back also. Meaning that the bank did not find it to be illegal.

I hope everything works out in your favor. Please keep us posted.

I have also defaulted on the loanshop and haven't received any correspondence from them. It would make sense if they were in trouble.

It sounds like your bank is trying to make money on you by charging OD charges if you had any when these hit your bank? If they say they cannot prove that these are illegal, they are lying to you. It is going to be a hassle, but I would take a copy of the state policy and proof that these are not leagal lending institutions that should be suffcient. I would file that complaints with the BBB against your bank and who ever else you can.
You may have already done this when you filled out the form work.

Still no where with my banks. They are driving me insane.

I did have a question. Are cashier's checks safe?

Usually I get an answer really quickly. Anybody out there????

I need to know if Cashier's checks are safe.

Cashiers checks safe?? For depositing or paying with? I would think they are safe for either. I do not believe they have your account information.

Ok...The reason I am asking is because the loan ship offered me a refund of $300 and wanted to deposit it to my account I told them I needed a US postal service money order and to fedex it to me. I got it today and it was a cashiers check. I just did not know if it was safe to cash.

Also they offered $300 I went back and said that was unacceptable and wanted $500 and that is what the cashier's check is made out for.

MJ...how awsome. When you go to your bank, ask the manager to be sure. Ask if it can be traced back to your bank account. I do not believe you have to put you bank account on it so it should be ok. Also, can you cash one of those at Wal Mart?

question....I got a call from MW Marketing, it was taken out as edollarsdirect, I had emailed them the letter 5 times by the time they called. They said that it was sent to collections and they had no information what so ever. Then I emailed back stating I told them not to call and only contact through email or mail and that I doubt they do not have any information on me. I also stated that they owe me money so a collections agency will not help. They wrote back stating by LAW they do not have to release any information. I would have to contact them. I wrote back stating I wanted to know which law they were referring to so I could research it. Stated again they owed me money and the collection agency is not going to help me and I asked for a supervisors name and contact info. All she did was email me back and in the subject it said SPAM I assume she marked me as spam. What I want to know is there a law that once they sell it to the collections agency can they not give any information at all to me? Also I have no information on the collections agency never even heard from them. Any suggestions???

Who is the CA? MW Marketing is the company e dollars is associated with.

I don't know who the CA is. I have never gotten anything from them at all letter or calls. They did give me a phone number in the email. I am going to try to do a reverse lookup.

1-866-856-1024 is the number they gave me. Reverse lookup gave me nothing so I blocked my number and called and it said it was icollect. Which it states they do not do collections they buy and sell debts. I don't understand what that means.