pay day loan hell in tennessee

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

Ok , we can help you here. I have posted the laws for your state. It looks like most of your loans are already paid off. Actually some are way overpaid. Ypu need to close your checking account , so they can no longer debit your account. You can open a new account and dont give out the number to anyone.
I will post something to read before you close your account. We will walk you through this process. Looks like ameriloan and paycheck are all you owe , and even that is a very small amount.

Steve, read this and then close that account asap. You are in very good shape and almost done with your loans.
Before you close your bank account due to payday loans eating away at your paycheck, please read this.

Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.

If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.

It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.

Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches!

Dont forget that in Tennessee, they dont have to be licensed with the state. As long as they are licensed someplace else.

Oh me....I am in TN and am in the same *Hell* as you. I feel like I made a pact with Lucifer myself....you may not feel fortunate, but you actually are with the amounts you have already paid and the fact that they are not store fronts.
Good luck to you...you are not alone.

i talked to eastside today said after the debit goes through for this weeks payment all i will have to pay is 187 and if i do so before 4/4 they will not take out any finace charge and also spoke to onestep they will dismiss this weeks payment as and any other finace charges as long as i agree to pay 155 a week the next three weeks and they wont do it through ach but i will have to make one time credit or check card payments . i just want to pay what i owe and thanks for the quick response and info. but what i am worried about is the horror stories i read about big contacting people at work im only one of four employees at my job and i dont want embrassing phone calls to my job. wachovia said they cant close my account while i have agreed ach debit fourthcoming

Big and One step are not licensed anywhere. I will check on the others.

eastside said they were lincensed in delaware and onestep said they were licensed in arizona

Steve one step is not legal. do not give them another dime. I had them also.

I might mention that I went to the bank I opened my account with and dealt with the person who deals with this specifically...she was very helpful. I put a hard debit freeze on all debits...luckily I did not have many other checks out, then I closed the account. In order to close the account, she had to lift the restrictions...during that time $800 came through...yes overnight...but she sent them back and took off the overdraft fees. It is very important that you get one person to deal with and on your side. Do not be embarassed. I first had to tell my husband what I had done, then go to the bank!
You can do it and I am sure your wife will stick by you even if she grumbles a little.

Steve I had a loan with one step and they were not at that time licensed anywhere. As far as Big, they are located in the UK. They hold no license anywhere to lend. You have already paid them 880.00 for a 200.00 loan. They will debit you forever if you keep your account open.

i hate to admit this but im sitting here crying right now due to the fact you guys dont even know me and you are all so willing to help me i lost sleep i have been so stressed out i can even enjoying the things i enjoy doing because of the stress you guy r so helpfull

BIG people can hardly be understood. You should be able to close your account no matter what if you tell the Bank you have sent them a letter revoking their right to debit your account? Those here can tell you better...perhaps you need to speak to someone higher up at the Bank?
I got calls at work too....you will live through it. Just tell those at work you have an unfortunate problem with these companies and have paid them in full and that they should let them know you cannot be contacted at work...

Steve..we've got a great community here! :D You've come to the right place.

i want to payoff ameriloan and paychecktoday does anyone know if they are open to payment arraignments

hey Steve..you should register with our site :)

how do i register

Yeah...Steve...I feel the same way exactly...after untold hours of reading story after story of those like you and me going through this, I have to wonder how *good* people could all be lead astray?
I guess we have to don our armour and fight the fight...this is really an odd stand point for me. I am a pacifist to the max.

Steve , please for your safety, do not contact these people about pay arrangements until your account is closed. other wise for the 40.00 you owe, they will go in and take everything. These pdls are very sneaky . You need to get your accounts taken care of first thing.

To register , just go to the home page and follow the links. Glad to have you as a member.

To register, there is a "sign-up" button on the upper right-top hand side of your screen.

ok i have made a appointment with the branch manager of my back for friday morning ill guess ill just have to deal with the call from these people at work i cant thank u guys just for having a place to talk i know i still have a long road ahead of me but at least i know im not alone and i have options

Hi Steve...

As soon as your account is closed, send each of your PDL's this letter. Customize it to your situation...you can do this! It will be fight but you are in great company here!

Date

Name and address of the PDL

After doing research on internet payday loan laws in the state of YOUR STATE' S NAME, 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 YOUR STATE'S NAME in general:



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

I have contacted the YOUR STATE Office of Financial Institutions and the YOUR STATE State Attorney General????????s Office regarding your internet payday loans and was informed they are indeed illegal in YOUR STATE 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 YOUR STATES NAME. 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 my state 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 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 my state 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 YOUR STATE.

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 my state 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
Attorney General
Federal Trade Commission