IN PDL HELL IN OHIO...NEED YOUR HELP!

Lima -

Here are the Payday loan laws for Ohio (just select your state), I'll be checking the licensure status via the state website and will post the results momentarily. Stand by....

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Here are the results of the licensee database search for Ohio (no results found means the license is not located in the database under the name given):

500 Fast Cash or 500FastCash - no results found

Impact Cash or impactcash - no results found

United Cash or unitedcash - no results found

Summit Group or summitgroup - no results found

Sandpoint Capital or Sand Point Capital or sandpointcapital - no results found

Loan Shop or loanshop or Loan Shoppe or loanshoppe - no results found

I searched on all license types, all counties, to be sure we hit all the possible licensures that might be obtained by a payday lender. Nothing came up for any of them. I can tell you right off the bat that I know at least a couple of them aren't licensed anywhere - just do a search of 500 Fast Cash or Loan Shop or United Cash on our site here, using the Google search bar at the top of the page - you'll find many people have had issues with these same companies.

If you have already paid the principal plus the amount of interest legally allowed by your state (would be $45 for each of your loans @ $15 per $100 borrowed if they were to be paid back in 2 weeks), then you are well within your rights to stop paying these loans.

If these companies are still withdrawing from your bank account, you need to sit down with your bank branch manager and discuss this situation with them - explain that you have found these companies are unlicensed to do business in your state, and as such, you are revoking their authorization to draw money from your bank account. The branch manager should be able to tell you how best to deal with this and how to stop the withdrawals. You may have to close your bank account to accomplish this. These companies are not above sending debits through under another company name to avoid being blocked, or sending through a fake "paper check" to get to your money if you block their automatic debit.

Next, you need to send each of these companies a letter (not an e-mail) via certified mail, return receipt requested. (This way, they have to sign for it, and you will get a receipt back from the USPS that proves they received it.) In the letter, state the following:

-your account number with them
-your name
-tell them you are hereby revoking any and all authorization they have to debit any bank account in your name
-tell them you are revoking any and all wage assignment clauses that may be in their contract
-advise they are to cease and desist all collection activity on this account - cite your state law (shown in the post above) and advise that according to your state law, you have already paid this loan in full, plus the interest allowed by your state law.

If they call you, just keep citing your state law, and tell them you have already paid in full, and refuse to pay more. They may threaten to take you to court, send you to jail, call your supervisor where you work, call the references you listed on your loan application, threaten to "download affadavits for your arrest", etc - that's how you'll know for certain that they are illegal - legal companies don't threaten to arrest you over a financial matter like this - they know they can't. Only the illegal ones are dumb enough to think they can strongarm people into paying by making those threats.

Please let us know if you have any further questions! :D

This is why I like this board so much!.....

You go, suebee!!!! :D

thank you both! :-)

Lima, hello from NW Ohio. You have gotten excellent help from my friend Sue here. I have dealt with United Cash Loans and The Loan Shop as well as 500 Fast Cash. Please go to the web page for the Attorney General for our state and file a consumer complaint against each of the companies you have listed. They are operating illegally and the more people that complain, the better. They will also help you get the Loan Shop off your back.

lima, with suebee and sassnlucy helping you, you are truly in AWESOME hands!

THANK YOU!!!!!!!!!

No problem at all, Lima - please let us know if you need anything else!

I will give a report when I am done with this mess. Thanks again for the assistance. This site and the people here are amazing!

Lima - that's a great idea, we'd love to hear how it all comes out for you. If you encounter any problems along the way, please let us know and we'll do our best to help you out.

Also, you may want to consider signing up as a member here. You are awarded DebtCC points for every post (up to 20 points per post) and every DebtCC point is worth $0.01. It doesn't sound like much, but it adds up over time, and you can cash them out...for cash!