PayDayMax & MyCashNow

punch in credit protection depot on the top of this page and you should get posts which contain a fax number for Credit Protection Depot. I sent a copy of my C and D letter over to them. Yes, they use the same company, CPD. I settled for the original amount of the loan. Also, please check the sticky above regarding ACH Processors. PDM is ACH Commerce. Give them a call. Tell them that you have revoked their ACH authorization and they continue to debit. Good luck.

I faxed my letter here:

Credit Protection Depot, Inc.,
4601 West Sahara Ave., Suite 1
Las Vegas, Nevada 89102
Their fax number is 866-645-1662

Great! Now call ACH Commerce and make a complaint about the ACH authorizations. Their number is listed on the sticky I believe. Keep us posted.

Having dealt with Mycashnow, I can assure you, you'll hear from them, alright. Just hang tough and don't let them bother you. There IS a light at the end of the tunnel.

Call their processor. ACH Commerce. It could be over before you know it.

Here is a reply I sent to my cash now from their collection letter:

Thank you for you coorespondence. A letter was sent to you with regards to Pay Day Lending in North Carolina on February 12th and via fax on February 18th. Pay Day Lending is prohibited in the state of North Carolina. In this coorespondence I requested to hear from you via the US Postal Service by March 12th, 2008.

Below is a response with regards to Pay Day Lending that was received by the North Carolina Office of the Commsioner of Banks:

There is no law that authorizes payday lending in North Carolina;
internet based payday lenders are not granted licenses for such activity
in North Carolina. Interest charges on such loans could be illegal here
in North Carolina.

Reitzel Deaton
Director, Consumer Industries
North Carolina Office of the Commissioner of Banks
919-733-3016

During the cycle of lending with your company I have paid numerous illegal interest charges. I am currently working with the NC Attorney General as well as the NC Banking Commision to determine, through bank statements, the exact amount of interest that was paid during the coarse of 2007-2008 on these loans. I demand a refund of all interest fees paid to you after the remaining principal balance, approximatly $260.00, on the last loan has been deducted from those charges. I am also in contact with the ACH processor for loans made by your company, ACH Commerce, to complain with regards to illegal lending in North Carolina.

Be advised that you are "attempting to collect" on a debt for a payday loan that is illegal in the State of North Carolina. According to N.C. Gen. Stat. ???? 53-173, payday loans are not allowed in the State of North Carolina. Any further implications or action that results in this illegal debt being reported to any of the 3-major credit bureaus is an underhanded violation of the Fair Credit Reporting Act (FCRA). You will leave me wth no choice but to swiftly seek legal counsel and Cash Now will be placed in a position to validate the legality of this debt along with the claim that "services charges are accrued each day".

I will be in contact further with regards to the amount of the refund that is due to me from the illegal intrest charges as well as a letter marking this account "paid in full" and hope that we can resolve this issues as soon as possible.

Angell please keep us posted! You're doing an awesome job!

I will thanks! Volley helped me with the last part :)

I am going to construct the same letter to M1Y in the hopes of obtaining a refund. I still haven't heard from them and I way overpaid!

thoeypgh, hang tight for a few, llw can probably give you some good advice on how to handle Gail. I am sure she will be around soon, she has dealt with her before.

Send her an email stating exactly what has happened but keep the issues separate, as you are dealing with two different things. You still owe on PayDayMax. Tell her that they are an illegal company and they will continue to debit your account. Also tell her that you have revoked your ACH authorization. I do believe that reporting them to the processors is important but you also need to let MCN and PDM know what you have done. Get as much info as you can from your bank regarding the originator of the transaction. The more "names" you have, the more ammunition you can use against them. Telling them you called their processor is just that. But if you tell them that you spoke with so and so and such and such, they will know that you mean business. Also include the phone numbers of the people you speak and any names you may have. To me it seems like an idol threat unless you have info to back it up. I listed names, addresses, companies, phone numbers when I sent my email. They knew I wasn't kidding. They don't want the bad pub. If the processors drop them, it won't be easy for them to do business. I have to believe that if enough complaints come through the processors won't want the hassle, especially when they are going agains a revoked authorization of an ACH. Just keep at them. Don't give up. Don't back down. Keep sending those emails. I have dealt with both of them. Also, one other thing. Make a copy of your C and D letter to both MCN and PDM. Fax it over to Credit Protection Depot. I got a call from them immediately marking one account PIF and the other settled at what they deposited into my account. You can't just hit them with one angle. Keep finding ways to get to them and use all of them.

ok

ok

i have a problem with my cash now. they said they couldnt take the payments out of my savings and wanted my checking. they over charge 200 and when i asked for them to send me info in the mail they refused. i called my local bbb and they gave the number to the canada bbb 604-682-2711 they told me they are a scam and to call the federal trading and comm. and have them investigated 877-382-4357 i encourage you to call 2 stop paying them they cant do nothing they dont have a federal id number

ok

Just linked back to my community from "Who is Carey Brown?" Now I know where Obama got his campaign contribuitions from, our overpayment in interest rate and fees for illegal loan sharks! This is DEEP!

mycashnow, paydaymax, discountadvances, and credit protection ARE ALL THE SAME COMPANY !!!
since they are listed outside the united states even though their office is in chatt, tn, by law you only have to pay the principal amt back to them, after that close ur bank acct and chg ur email to avoid paying the interest back

why he's the owner of all the above companys and he resides in chattanooga tn

thoeypgh, so how did things work for you? Did you get a PIF from Payday Max?
And could you possibly give me the e-mail of Gail Sauter? I am trying to deal with PayDay Max and get them them off my back for good

mycashnow, paydaymax, discountadvances, paydayspot, credit protection depotmycashnow, paydaymax, discountadvances, paydayspot, credit protection depot, supportseven, basenine, logic marketing, and accountpros
ARE ALL THE SAME COMPANY.

for those of you who can never seem to pin this company down its main office is located at 5962 brainerd rd, chattanooga tn. and also has one office in costa rica. if you read the web agreement, its states they are located in grenada, antiqua, and other offshore spots.....not true. they do however funnel all funds to and from customers thru a bank in panama.

the credit protection depot is the collection agency who tries to recover funds. by law since they are listed out of the country, u only need pay the principal balance. the only way to keep this company from debiting ur acct is to call in, and chg ur bank acct # or to close the acct all together w ur bank, u should also chg ur reference ph #s bc they will call them.

this company is made to seem very large and hard to find. when infact they operate from an unmarked building beside a biglots in chattanooga. there are less than 30 people who take calls from all 4 companies, mycashnow, paydaymax, discountadvances, and paydayspot.

sitting less than 10 feet away are the people who work for the collections department for all 4 payday loan companies. there are only about 20 of them.

these people can only read scripts given to them verbatim off proprietary software. they are not allowed to give any other info. the company is so secretive that when the employees go next door to the biglots or a restaurant, they arent supposed to say what kind of work they do.

because of lawsuits, these payday loan companies dont operate in 13 of the 50 states and even had to move their location in reno, nevada to costa rica last summer.

also you should know they dont lend to people on any type of disability, self employment or military personnell. so if ur denied for that reason, its not because you have bad information, its just because they dont want to lend to you.

also you should know that if you dont pay, you will be reported to teletrack which is system for companies who dont do credit checks, but it wont affect your credit AT ALL. and no legal action will be taken against you, no matter what they say, they'll just note ur acct so that you cant apply anymore.

any other questions? feel free to post.

Thanks for the information!

i dont pay these payday loan people anymind if they would be a little nicer and try and work things out with people and quit trying to put all these extra fees on there money then people like us would work with them

so, basically, you steal !!!!!

Just because THEY (payday lenders) have a license to steal (well SOME have a license, MOST don't), it doesn't make it right. So, does that make their crime any better? Hmmmmmm?

That's what I thought. :x

Quote:

Any relief for anyone from PA. I now have twelve PDL and most of my check goes to them weekly ----I see no releif in sight and am thinking of closing my bank account. I doubt Ch 13 would help this issue. I really need to stop them taking my money weekly as I can barely pay rent, make car payment ect.. or buy food. Where whould I start? Any advice

Check with Pennsylvania Department of banking. Payday loans are prohibited in PA.

is this just for the state of north carolina or does it pertain to all states of the US?

Just throwing this out there, I've used payday loans so I know how they work. Unfortunatly I know all of this companies all too well, but I knew what I was getting into when I signed up with them...If you agree to pay 452% interest, you should know that it's gonna cost an arm and a leg to borrow this money. Payday loans can be a very good thing, if used only for emergencies... and if they are paid back on your next payday, not two or three months later. Take out a loan and then don't pay it back??? That's stealing in my book.

I emailed MyCashNow.com a letter stating the laws I found in my state that payday loans/ACH is illegal here and in 13 other states. I told them in the email that "I am willing to pay you ONLY the amount borrowed, no fee's IF you can provide me with a copy of your license number that makes it legal for you to issue ACH/payday loans in North Carolina. (check your state first to see if its illegal). I havent heard another word from them. I was advised by the courts when I was filing a bankrupcty that it is highly illegal in the state and they CANNOT take anyone to court when its them being illegal. I hope this helps any and all of you who have had bank accounts closed, etc due to these companies making us think theyre helping when in all reality they are conducting illegal activities. I will attach a copy of the letter. IF you type it and email it, (the courts told me emailing is best because these companies work by email and not normal mail and FAX) make sure first that payday loans are illegal in your state. They were as of June 2008 in 13 states but now its more. So dont send any letter unless you know for sure, you can google "list of states that payday loans are illegal in" or whatever to see about your state.
January 20, 2010
To: LOAN COMPANY( mine was mycashnow)
Name
After doing research regarding Internet payday loan laws in the State of North Carolina, 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 North Carolina in general:
North Carolina State Information
Legal Status: Prohibited
Citation:
A check cashing licensee cannot cash or advance money on a postdated check.
I revoke any and all wage assignments I may or may not have signed with your company, 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 have notified my employer about this matter so any attempts to do so on your part will be rejected, per instructions from The North Carolina Department of Finance.
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, as per instruction from my Attorney General's Office. Any forms of contact made on your part will be recorded and turned in, as per instruction from my Attorney General's Office.
Due to the fact that Internet payday loans must be licensed in the state of North Carolina to be a legal and binding contract, your company should NOT issue loans to North Carolina residents at all. I am requesting that you send me your license number which enables you to offer loans to North Carolina residents.
The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal. I am willing to pay the principle amount of the loan only, however, this is ONLY if you provide me with your license number which enables you to offer loans to North Carolina residents.
I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and sending a letter to the North Carolina Attorney General's Office.
I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.
Sincerely,

CC:
Better Business Bureau
North Carolina Attorney General
Federal Trade Commission

Thank you for sharing^^^

Quick question --- how do I change my reference numbers with paydaymax so they won't be bugging them as I do battle with them via e-mail?

http://secure.mycashnow.com - is not a secure connection like the domain (and safety guarantees) say they are. There is a secure https version, but there's also obviously a non-secured version. Kind of makes you think what type of people run this sort of company. Can they be sued for this? I'd love to at them!!

It will redirect you to secure when you start completing an application or update your account. So no. The actual parts that have to be secure are.