perry vs geneva roth

Did you revoke ACH authorization with them?

they found my new account.. i sent them a letter too to cover myself..

Oh damn! :x I am so sorry to hear that. Any idea how they did that?

no.. my bank return the ach's but they caused over 400 dollars in overdraft charges.. i filed a complaint with the bbb.. cant go to the minnesota ag offcie cause minnesota has a law that if there licensed anywhere there legal and geneva roth is licesned in utah.. i basiclly demended that they be resonsable for causing overdraft due to them debiting my account without my permission instead of paying it back to me.. mark my account paid cause these fees are more then what the loan was and on top of that t&c was paying them.. if they dont mark it pif im going to sue them.. if i were them just mark my account paid in full and they wont have to worry about me ever again

hey cannr any suggestions?

perry, I remember you saying they found your new account. Geneva Roth has quite a knack for doing that. Can't figure that one out. However, I see what you're doing with the complaint with the BBB. But I don't see Geneva Roth agreeing to that. As you've found, they are hard a$$e$. Your bank reversed the debits back to Geneva, but they won't reverse the overdraft charges? Did they tell you that they won't? I'll just give a little advice since you asked for suggestions. When my account was hit by 10 million pdl debits, of course, the bank tacked on fees for each and every one of them. I was in the hole to the tune of almost $1,000.00. Not a happy person. I do understand that the branch manager does have the authority to reverse those bank fees off. However, my branch manager was kind of dragging their feet. After fighting with customer service, tellers, and the branch manager (because I was having a COW about the fees since I did not feel as though I owed them), I wrote a complaint letter to the president of the friggin bank. Now, perry, I can't say this will work for everyone, but it sure as hell worked for me. Once that letter was received, I got a phone call from the corporate office of the bank. I explained the whole situtation, went round and round with them over the phone. I emailed my branch manager and informed them that I was dealing with the corporate people, blah, blah, blah. Next thing I knew (much to my relief) within the next week things started happening. The corporate office called again, I explained again, having my COW again. I emailed the branch manager again informing them of everything. Within two weeks to the day, every charge was reversed off my account and put back to a zero balance. My suggestion? Go to the corporate office of your bank if you're not getting results from the branch manager. I mean, honestly. They reversed the debits because they were unauthorized. Why the hell should you pay overdraft fees for unauthorized debits? That was my point to my bank. If they realized and acknowledged they were unauthorized charges, then they should not add fees to the account. It's uncalled for. Take it to the next level, perry. Either call the corporate office or write them a letter and get the president's name. Like I said, it may not work for everyone, but it did for me. But, at the same time, I was hounding the living hell out of them and that poor branch manager probably hated to open her email every morning!

im going to try that thank you.. im going to send a dispute form until they cave in,..

perry, you're welcome! :D Please keep me posted as to how the battle is going!

cannr. . .according to my bank, if you have the right "connections" and "info" you can locate ANY bank account and collect funds from it. I know my former husband had a "bad" debt, so to speak and the person collecting the money traced it back to my daughter's account and put her in the hole for thousands.

I am very confused how in the world can anyone, with just your ssn find out your new account number??? My bank told me there is no way they would be able to when I changed my account and so far they haven't. I know they are tryin because 2 of my close friends work at the bank and someone has called htere 3 times claiming to be me saying they forgot their NEW account number and gave my ssn for verification of who they were but my friend knew it wasn't me and when confronted they hung up. These people are so illegal in their tactics.

Boy whoever informed you that id a PDL is licensed in any state their okay to do bisiness in Minnesota is so wrong. I live in Minnesota and actuall physically went to the AG"s office and spoke to a vert knowlegable person on thius PDL crap. All PDL's MUST be licensed in the state of which the person taking the loan resides for the loan to be legal. ANYONE tells you otherwise probably has a second job at one. ha ha

BlSmith-Here is some info about PDL's in Minnesota...some dialogue between one of our Mod's, Goudah and the MN Dept of Commerce.

I doubt that either of them have a second job at a PDL.


Quote:
Minnesota State Information

Legal Status: Legal

Citation:
Minn. Stat. Ann. ???? 47.60

Loan Terms:
Maximum Loan Amount: $350
Loan Term: Max: 30 days
Maximum Finance Rate and Fees: $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month)
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot repay with proceeds of another loan by same lender)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $30 NSF fee
Criminal Action:

Where to Complain, Get Information:
Regulator: Minnesota Department of Commerce
Address: Division of Financial Examinations, 85 7th Place East, Suite 500 St. Paul MN 55101
Phone: (651) 296-2135
Fax: (651) 296-8591
Regulatory Contact: Kevin Murphy,, Deputy Commissioner


Emails to and from the MN Banking Dept:

From:
Sent: Monday, March 26, 2007 3:44 PM
To: Financial.Commerce(at)state.mn.us
Subject: Payday loan questions

Hello,

I have a question about internet payday loans. Do these need to be licensed in MN to be legal? Also, how do I calculate the legal amount of interest they can charge me according to MN laws? I see the laws state:

Maximum Finance Rate and Fees: $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month)
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%

So for a $300 loan how would I calculate the interest? And since no rollovers are allowed and the companies I have loans with have rolled them over countless times, would I be correct in saying that they are breaking the law? I've been told by several of them that they don't have to follow MN laws, even though they solicited me, because they are licensed in the state that they are located in. Is that correct?

I really appreciate any help or direction you could give me!

Thanks!

Response:

From: Terry Meyer
Sent: Tuesday, March 27, 2007 6:40 AM
To:
Subject: FW: Payday loan questions

First we don????????t license lenders that are domiciled in other states. Minnesota law does not have a long arm statute and allows residents to seek loans wherever they want. Solicitations via the internet or ads do not place the lender in Minnesota, only a physical location would [the exception being residential mortgage lenders].

The way to calculate the APR for a 14 day loan is either using a T-I calculator. A fast check using the example for a $100 14 day loan is;
$15 finance charge divided by the $100 loan [proceeds of the loan, or amount financed] = .15, or 15%
.15 divided by the number of days in the loan, or 14, gives you the daily rate of .0004109589
Multiply that number by 365 [days in the year] = 3.91071428415, or 391.07% APR

Does that help ???????? and in Minnesota rollovers or refinancing is not permitted. Name the MN lender and file a complaint.

Reply:

From:
Sent: Tuesday, March 27, 2007 8:45 AM
To: Terry Meyer
Subject: FW: Payday loan questions

Terry,

So to make sure I understand this, a payday loan company located in another state doesn't have to be licensed to lend to MN consumers. But do they have to follow MN laws about rollovers and interest? Or can they follow the laws of the state in which they are located in?

Thanks for you help!

Response:

From: Terry Meyer
Sent: Tuesday, March 27, 2007 6:58 AM
To:
Subject: RE: FW: Payday loan questions

It is similar to credit cards ???????? I would bet, assuming you are a MN resident, that none of your credit cards are from banks located in MN. The Supreme Court ruled in both 1978 that rates, and 1996 that fees could be imported for credit cards issued by out of state lenders to other states borrowers. Its agency law. The use of the laws of the state in which the lender is licensed is required.

Please explain your interest and the firm you represent.

Reply:

From:
Sent: Tuesday, March 27, 2007 9:04 AM
To: Terry Meyer
Subject: RE: FW: Payday loan questions

Terry,

I don't represent any firm. I was just trying to get some more information about the laws governing these kind of loans. The reason I was curious about the specific point of if state law governs out of state pdl's is because where I live, Oregon, they do have a law saying that out of state pdl's much be licensed in OR and follow the laws of OR. I was hoping the same thing applied to MN, because in that case all his pdl's were grossly overcharging him.

Thanks!

Response:

From: Terry Meyer [
Sent: Tuesday, March 27, 2007 7:30 AM
To:
Subject: RE: RE: FW: Payday loan questions

Good luck ???????? we recently received a complaint on a Payday loan from Malta. Since MN doesn????????t have a law like OR each state would have to be contacted for their payday loan law to determine if a violation occurred.

What does this mean?

There are very specific rates they can charge you depending on the amount loaned.

Rollovers are not allowed.

Internet companies can lend legally as long as they are licensed in another state. They must follow the laws of that state.

blsmith365. . .I believe you would have to have the "code" to gather this information. Just a normal, everyday person could NOT call and get that info. That is why I said, with the right "connections" you can get the info. Somehow, GR has the "ability", shall be say, to get into the system. Scary.