11 PDLs = NO sleep

You are definitely in the right place here. Please post which state you are in so the people here can help you and tell you the laws where you live. It will be okay. Before closing your bank account read the stickie at the top of this forum that talks about that. I just came here 2 weeks ago and this forum has changed my life. The people here who have been dealing with this for a long time really know what they are talking about and will help you each step of the way. Keep checking back and you will have tons of support!!!

Actually here is the info on closing your bank account.

Illinois, thank you!

Hello, in the loans you listead, where you wrote "pay", do you mean that is the amount you still need to pay in order to pay it off, or are those the amounts you have already paid towards each loan?

Also, welcome to the forums. You are in the right place to help guide you through the next steps, now that the bank account is closed.

You did make sure that your closed account can't be forced back open by ACH debits, right?

PaydayOne is an installment loan this time due to some laws changing in Illinois, according to them. My original amount borrowed was $500 and I have paid $200. Cash Advance Network and Quickest Cash Advance I do not know how much I have paid due to their sites don't allow you to log in to your account and have a look. Cash Transfer Center no longer allows you to look at your loan history, but every pay day they take the full amount out and I do a re-loan the next day with no cool off period and this has gone on with them for around 6 months. Actually, that is the case with the rest of them where I can't look up online how many times I have paid the interest payments... So where I wrote pay, I just mean that is what they will take out on Tuesday if my account is available to them. I haven't been to the bank yet, it is only 5 A.M. here. I keep trying to get to sleep but am so worried about the secretary at work or my boss getting crazy calls and they will think so much less of me! :oops:

Hello-

Hang in there. I know it's tough right now, and sometimes it gets tougher, but you *will* get through this, and we'll all help you the best you can.

To determine whether or not you can dispute some of these illegal PDLs by claiming that you have already paid them back the principal, it is very important to find out exactly how much you have already paid them. I know you said the websites are currently down, but you need to look through your bank statements to see exactly how much you have paid each to date.

If you are going into the bank this morning, perhaps whoever helps you can help you look into this with you and see the payment histories on your account.

When you go into the bank, it is very important that you find out for certain that once you close your account, it cannot be forced back open by the PDLs hitting your account with repeated ACH debits. This has happened to some folks, where they have ended up even more in debt because of overdraft fees and negative balances they now owe to their banks.

Are all of your loans internet ones?

Yes they are all internet. Oddly, CashTransferCenter allowed you to look at your loan history even just a few days ago. But since it is always a fresh new loan every single payday, I wouldn't have paid anything other than the 424 a month it costs for the 800 I keep borrowing. Over the course of 6 months of re-loaning, I have paid them at least $2500 in interest. GAG! All of the re-loans are the same it is just that CTC allows you to get the money back immediately and of course I have to just to pay rent, phone etc...

Hello i_lost_my_mittens, I am going to post the 'payday loan' laws for Illinois, this will only apply to the ones that are payday loans.

Illinois State Information

Legal Status: Legal

Citation:
Ill. Comp. Stat. Ann. ???? 122/1-1

Loan Terms:
Maximum Loan Amount: lesser of $1000 or 25% gross monthly income
Loan Term: 13-45 days
Maximum Finance Rate and Fees: $15.50 per $100
Finance Charge for 14-day $100 loan: $15.50
apr for 14-day $100 loan: 403%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 7 days after 45 consecutive loan days
Repayment Plan: Yes

Collection Limits:
Collection Fees: One $25 NSF fee (Presentment limit = 2)
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Illinois Division of Financial Institutions
Address: Consumer Credit Section, 320 W. Washington Springfield IL 62701
Phone: (888) 298-8089
Fax:
Regulatory Contact: Phil Sanson,, Acting Consumer Credit Assistant Supervisor

PaydayOne is an installment loan this time due to some laws changing in Illinois, according to them.

That's news to me, if I were you, I would check that out, be careful of what these pdl companies tell you, which is almost anything to get money out of you. If anyone else here knows anything about this "new law" about payday one, please interject! :)

let me assure you,i too am in illinois and paydayone is lying.installment loans have different rules than payday loans.

1)loan is for a six month maximum
2)equal payments either once or twice monthly.
3)each payment a portion of that goes toward the principal.
4)once last payment is posted the loan is PIF.

it sounds like they are changing there rules to suite.i would file an AG complaint.

I am still going through the NO SLEEP thing girl...and I had both store fronts and internets. I know all too well what you are going through.
Too bad we cannot all get together and play cards or watch a movie while we are going through this for some R & R since we cannot sleep, huh? Other thing is to come on this site.

Thanks for all this support at this really dark and difficult time! The lady at the bank was really nice. I opened a new account and they will transfer any deposits to the new account just in case my direct deposit wasn't stopped in time. My work says the deposit was stopped but I have to wait 2-3 extra days for a paper check. And anyone who has been here knows payday loans don't leave enough for you to live on, let alone for an extra few days! But I guess I will just use some Advil PM and hope the time goes by fast... I did decide to go with Lang, I faxed all that paperwork off too. I will keep ya'all posted as to how that goes.

mittens, you have some unlicensed/illegal pdls here. Are you going to try to retain Langhorne to help you with your pdls? If so, you don't want to include the illegal ones. You can do these on your own. Actually, you can do them all on your own; however, many people do chose to use a company to keep the harrassment from the pdls directed at the company instead of themselves. But, just looking quickly at your list of pdls, I can see some jumping right out at me that are not legal. We can help you with this, if you like.

it really is to keep the harassment down. the loan with cashtransfercenters.com has been reloaned to me every payday for months. it started out as a 300 dollar loan then every payday they bump you up to where it has been 800 a payday for months. they charge 208 per payday for interest, twice the legal rate in illinois. that is $416 in interest per month! half the amount i borrowed!!!! my old "closed" account is overdrawn and i am hoping to find out if the bank is going to charge me the od fees. i just put my paycheck into my new account and notice a chunk is missing already and hope they haven't taken the od's out of my new account to cover the old account. ARGH!

mittens, you said:

Quote:

Sometimes a bankwill take out for the od from your new account. If you owe the bank, they will take their money.

sorry, am having trouble signing in. this afternoon my new account was correct in its balance and my old acct which had been overdrawn $1,6xx was at 0. So that is good there. On the other hand, the calls have started. My first payment to Lang is tomorrow, I will let everyone know how swiftly the calls get under control, as this is the main reason for hiring them. Yes the old and new acct's were same bank. But it appears that it is good now.

Okay, great! :D It sounds like the bank has it under control. Keep us posted as to how it works out with Lang!

again cannot sign in. so far the worst caller is from cashnetusa, they are super harassers. my payment to lang just went through so hopefully they will do what they need to do to stop the calls. i have mostly been putting the callers off by advising them that i have an atty looking into some illegal loans and i do not presently know the status. they still try to get me to make a payment arrangement. cash transfer center advised me they will start calling my work, i advised them that would be harassment since i am answering their every call and there is no need to call my employer. cashnetusa accused me of being a thief! jeesh. he was way over the top. and that was just with me asking for a week to sort through the mess. i imagine he is just reading a script?