Help-caught in the cycle

i would secure your bank account first, otherwise they are able to go in and take all of their money at once if they have any idea that you will not be able to make your payments.

also nate...what state are you from?

sorry i am at work....but if you would post how much you have paid toward each....some may be illegal and what not..just sit tight...others will be around to help

I am from Iowa.

Also-the only 2 I have been paying on some time for are Geneva Roth and Cash Today.
I pay fees every 2 weeks.
The Cash Today started out at a 90 fee, but decreased 5 bucks every rollover until it got to 40-which is where it stays.
The other loans have been occuring for about the past month

Nathan, you will definitely need to safe guard your account first before making any kind of contact with them. Please read the sticky up top before closing your account.

Your laws will be posted soon.

Really, Newguyohio is right; if they know you could possibly default on your loans they will debit the whole amounts.

I haven not made contact with them as of yet. I was hoping to get some info

Nathan, here are your laws for your state.

Iowa State Information

Legal Status: Legal

Citation:
Iowa Code Ann. ???? 533D.1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15: $0-$100; $10 per $100 thereafter
Finance Charge for 14-day $100 loan: $16.67
apr for 14-day $100 loan: 433%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance or consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $15 NSF fee (exclusive remedy)
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Iowa Division of Banking
Address: 200 East Grand Avenue, Suite 300 Des Moines IA 50309
Phone: (515) 281-4014
Fax: (515) 281-4862
Regulatory Contact: Rodney Reed,, Finance Bureau Chief
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources

Nathan, can you please state if these are internet or store front loans? Also please state how much you have paid back on these loans so far.

Welcome to the community; and others with more expertise will be by to assist you too.

These are all Internet loans. I have not paid back any on these loans-these are the only ones i feel are doing me wrong.

I do have 2 other loans-
Through Magnum and ameriloan and they are almost paid off which I am grateful for.

Any more info needed?

If I remember correctly, pdls have to be licensed in Iowa to lend in Iowa.

Hopefully someone will come by to help you find out if any of yours are licensed in your state.

But please answer the questions above as that will help speed up the process for the experts.

If you have not paid on any of these yet; when are they due to come out?

Emerald I have paid 270 in fees so far
United Cash Loans I have paid 180 in fees
Arrowhead has 180 in fees
Impact Cash has 270 in fees
Geneva Roth has upwards of 36o in fees
Cash Today has 835 in fees
Cash Today has 210 in fees

They are all scheduled to come out again on the 15th

Is there a good place thats helps consolidate these loans. And if I wasnt given any loan details, how can they legally do this.

Just a note: if any of these are illegal you are only obligated to pay back the principle borrowed. So it looks like on some (if illegal) you have way overpaid.

Hopefully someone will come around soon to let you know which ones are illegal and ones that are.

I know that you will need to close your account so that they will not be able to take any more monies.

Nathan Please take a look at the ACH Threads and sticky. I had United Cash Loan too and through their ACH Processor I got an e-mail today that my account is Paid in Full. I had paid them $150 more than the actual loan. Don't be scared be mad! Call and write everyone you can think of...you bank, your AG, their AG, their ACH Processor (United's is Connie Mosuer at Intercept and Julie Berklin at Bremer Bank), Contact the bbb. Get a C & D letter from here and go for it. The more pressure you put on these people the more likely they are to let you out of it.

thanx for your help people. i just want to have money to pay bills and now im caught in this crap.

this is the original poster of this thread btw

Also, one thing about these loans-I am only an authorized check writer on the account. It is actually my wifes account. Is it legal for them to do this without her approval?

Hi Nathan and a big welcome!
I went over your list of PDL's and I have good and some not-so-good news. The good news is that 7 PDL's is not that much in the scheme of things, as I and many other people had many more. I had 10 and there are some of us who had as many as 20 who are now PDL free, so you CAN do it. The bad news is that you are dealing with some notorious bottom-feeders, headed by Cash Today. I also dealt with them and they are a huge pain.
Like everyone else has said here, you MUST close this bank account, or else they will drain you dry. Cash Today, like I said before, is famous for this. They are located off-shore, which means they are out of the country (in Britain) and are not licensed anywhere.
Take a look at how much your original loan was with them and all your other ones, and if you have paid your loan principal (which I am sure you have), you need to revoke ACH authorization to your accounts and let them know that you will be reporting them to the FTC and your state's attorney general's office. We are always here to help!

I have emailed my state banking comission and am going to go talk to our bank on Monday to see if it can be put on a Deposit only and make sure the ACH of these loans will not go through. I still have some legit checks that need to go through. The next fees are not supposed to come out until the 15th. I can put away about 400 each payday to try to pay these off(eventhough i do not believe them to be legit, i do not honestly remember okaying them over the last month or so.

Hey Nathan,
Are you having a problem signing in?? (I noticed your name on the last post :D ) If you still can't, email an admin and they can help you.

Nathan, Get a Hard stop on that account if you can not get it closed. Then talk to your bank about getting the ACH processor information. The ACH processor is the company the PDL uses to Process the amount taken out of your account. They are liget companies and do not like to hear that their clients are doing ilegeal activity. They will tell you that they can't help but put a little pressure on them. See if they will call the PDL with you on the line. Get them to investigate the complaint. PDL's can not take money out of your account with these people so when they start asking questions the PDL is more likely to at least mark your account PIF.

This is the e-mail I got on Friday after calling Bremer and Intercept, United's Processor.

Thank you for choosing UnitedCashLoans, your choice for online cash loans. We are happy to assist you with all of your cash needs.

This letter is to confirm that your account with UnitedCashLoans has a zero balance as of 05/02/2008. No further transactions will be debited from your checking account.*

If you have any question or concerns, please contact a customer service representative at 1-800-279-8511.





Sincerely,

Customer Service

Does anyone know if it is even legal to be debiting my wifes account if she did nor okay these loans.

Would anyone care to suggest what I might say to my bank. I am kinda nervous about talking to them?

unfortunatley nathan,if that is the account you used to obtain the loans.they will continue to debit.as skydiver said,alot of these are bottom feeders.they do not care if you are not the holder of the account.you gave them that account and the only way to stop the debits is a hard block or closing and opening a new account.just go talk to your bank manager and explain the situation.i think roxy or volley has a letter revoking ACH debit consent.

You are just going to have to be honest with your bank. Tell them what has happened. Have with you a copy of the revoke ACH authorization letters you have sent and any other paperwork you have. I have also had something that says how much I owed and how much I have paid. Get your bank to help you figure out who their ACH Processors are. You may have to get to the ACH Department within the bank. I know it is scary but you have to do this to save yourself.

How can i get the letter denying ACH consent?

Here you go Nathan. Double check that I changed everything to Iowa. This is the one I used.

To Whom It May Concern:

As of today (DATE) I do not authorize (PDL COMPANY) nor any representative, parent company, affiliate, or subsidiary of (PDL COMPANY) to withdraw any funds from any account under the name of (YOUR NAME) . Your company is in violation of Iowa State Laws:

Citation:
Iowa Code Ann. ???? 533D.1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15: $0-$100; $10 per $100 thereafter
Finance Charge for 14-day $100 loan: $16.67
apr for 14-day $100 loan: 433%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance or consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $15 NSF fee (exclusive remedy)
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Iowa Division of Banking
Address: 200 East Grand Avenue, Suite 300 Des Moines IA 50309
Phone: (515) 281-4014
Fax: (515) 281-4862
Regulatory Contact: Rodney Reed,, Finance Bureau Chief

Your claim that the contract that I signed is only governed by the law of the state in which your company resides is unsubstantiated. There is specific Federal case law that refutes your claim. Your company solicited, accepted and transacted business with a citizen of the State of Iowa, thus you are subject to the laws of this state laws.

In lieu of your blatant disregard for the laws of the State of Iowa, I am offering (PDL COMPANY) the opportunity to settle with me, per Iowa Code Ann. ???? 533D.1 et seq.
.
I have paid you a total of $XXX in interest and fees, and $XXX in principal, on a $XXX loan. Thus, I am expecting (PDL COMPANY) to mark the account under the name of (YOUR NAME) ???????paid in full????????. At no time will (PDL COMPANY), any representative, parent company, subsidiary, or affiliate of (PDL COMPANY), place any derogatory mark on my credit report with any credit bureau, nor any other check writing database, such as Teletrack or an equivalent database. If (PDL COMPANY), does not abide to the settlement conditions stated above, I will have no choice but to file a civil suit against (PDL COMPANY), for the monetary damages that I am entitled to per Iowa State Law. I have also formally complained to Attorney General of Iowa as well as the Attorney General of (THEIR STATE).

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home and cellular telephone numbers. I also prohibit you from calling my references listed on my loan. As part of the Fair Debt Practice Collection Act, 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 Iowa.

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.

All correspondence as of today (DATE), shall be in written form either through the email address, (YOUR E-MAIL) I provided to you at the time of the application, or via The United States Postal Service. Please acknowledge receipt of this letter, and acknowledge acceptance of, and willingness to adhere to the settlement described above, in writing, within 24 hours of receipt. If I do not receive this acknowledgment within 24 hours, I will begin the legal proceedings described above.

Sincerely,



cc: YOUR BANK
Attorney General of Iowa
Attorney General of (THEIR STATE)

Thank you for the template-I am goin to take it with me tomorrow when i go to the bank-i need to let the account stay open a few days for my legit debts go through-then see if it can be ACH blocked or deposit only. I will send the emails out in the days inbetween that. Can the pdls try to push through payments before my next due date on 15th if they get the email before my bank gets the account closes?

Hi there...DO NOT send the letters until you have confirmed the account is closed or a block has been placed. If they catch wind that you are cutting off their $$ source, they will definitely go in early to get what they can.

Good luck and let us know how things turn out.

Hi there...DO NOT send the letters until you have confirmed the account is closed or a block has been placed. If they catch wind that you are cutting off their $$ source, they will definitely go in early to get what they can.

Good point Volley 8) , I didn't think about that..don't let them get wind of this right away they will try to wipe you out.

I talked to my bank-they are gonna help me out with closing it one all the legit checks go through, hopefully by Wednesday-then we will open a new one, with only my wifes name(since these vultures are latched onto me only.

I am not gonna send the emails until after it is closed though.

hey this is nathan again-got my sign in figured out. thanks for your help and ill keep u guys updated

I sent my emails-Arrowhead is going to work out an payment arrangement. Cash2Dat4U is telling me I am governed by UK Laws and want more money eventhough I have paid over $800 bucks.

Nathan, they will keep telling you that too. Your state laws are the ones you go by. In the immortal words of someone I deeply respect tell them to "go blow". :D

Zip Cash will write off what I "owe" as long as I do not take another loan out with them.....like i would anyway

Who is processor for AIP loans?

Ha-so even after I sent the emails and such-8 of the 11 companies did not respond to me and still tried to debit the old account today. My bank called and told me that I had 8 or so charges that were trying to go through and they were going to refuse them. How long will they try to debit this old account? Maybe they will respond to me now that they cannot get their money

that is how it usually works nathan,they will make multiple attempts to debit.this will do the following.one it will in there minds get you deep in nsf's with your bank.two,they will try to get you to pay a ton of nsf fees on there end.they will call you soon my friend.just know they really can't do any of what they threaten.

Only received a call fro Cash2day4U, received a PIF from Zip Cash as long as I sign and fax a doc. back and received a payment arrangement from Arrowhead so far.

some will work with you some won't.keep us posted.

I just filed a complaint with the Nevada BBB regarding Cash2day4u, maybe that will get them to settle