What do I do to get GRC Funding off my back? Can anyone help?

welcome to the community,we need two things
from you my friend.

1)how much borrowed from GRC Funding and others
2)how much paid total to each
3)what state are you in?

that was three whoops,but if you can provide'
this info we can help you. :D

all right you are in PA,now could you post
the other info on GRC Funding here.i would like others to
see and help further.you see as a newer member
i can't reply to messages on my page from you
yet my friend.

How do I get a hold of you for confirmation to pay off a loan to GRC Funding and other pdls?

we are not a payday loan co. We don't have any connection with GRC Funding. We are a community to help people with payday loans.who is this loan with?perhaps we can assist you.

I need help getting out of debt with these companies like GRC Funding. I'm in Florida

Sorry , The loans are with Net cash, GRC Funding,
One one click
United cash loan
Payday one
Think cash

Hi Deborah,

For the above companies, please tell us how much the loan was for and how much you have paid already.

I know that Think Cash is legal, they are an installment loan backed by First Bank of DE and would need to be taken care of, I'm not sure about the others. I am posting the law's for FL that Goudah researched. Someone should be along to help determine if the other companies are illegal. I have doubt on GRC Funding.

Quote:
Florida State Information

Legal Status: Legal

Citation:
Fl. Stat. Ann. ???? 560.401 et seq.; Rule 69V-560.901-912

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes

Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748
Regulatory Contact: ,


Emails to and from the DFI:


Hello,

Do internet based payday loan lenders with no physical location in FL need to be licensed by FL to lend legally to FL consumers? I am trying to help a friend with a huge mess. She has several internet payday loans, and they are saying that they only have to be licensed in their state, and that they can follow the laws of their state, not FL's laws. What is correct? Any information would be very much appreciated!

Thanks!

Reply:

She can file a complaint through our website at flofr.com and under 'helpful information' click on file a complaint. Then click on
finance related and you can download the form. Or click on money transmitters and call the 1-800 number. The Office will review her complaint when received. All lenders must be licensed by Florida, regardless of location, however, the current payday loan laws in place do not address internet businesses. The department is currently looking at other laws to apply to them.

She may also wish to contact Legal Aid in her area, to determine what recourse she may have.

If you have further questions, please contact this Office.

Office of Financial Regulation
Pam Henley
Financial Speci alist
(850) 410-9805

What does this mean?

Internet based companies must be licensed by FL.

No Rollovers are allowed.

If you haven't already done so, the first step would be to secure your checking account to make sure thay can't get any more of you money. You will need to make arrangements with ThinkCash as they are legal. Once you have that set, for the illegal companies you can send them a cease & desist letter revoking your permission for them to debit your account, contact you or your referrals by phone and any wage assignments you may have signed. You can also report the illegal companies to the BBB, FTC & attorney general for FL. Once they realize that they can't get to your money, they will attempt to contact you.
I have dealt with Netcash and United Cash loans, I did owe money to Netcash so I was able to pay back what I borrowed only. I settled with United cash through the BBB for the balance of what I borrowed minus any fee's.

Hang tight and someone else should be able to help as well.

It seems wealth of information is available in this forum. Very helpful indeed for a novice like me.

They are taking $150,00 every 2 weeks and it is not paying down my $300.00 loan and it has be several months. What can i do. I live in TEXAS.

i live in mississippi are they legal here

World wide cash is not even in the U.S. They located in another country.

Hey I live in PA too and have paid GRC Funding over 850.00, asked for a settlement and nothing Any news for you

I received a $400 loan in may from GRC Funding to help with some bills. I am a recent breast cancer survivor. Of course, I got behind but this company have withdrawn 222.00 a month from my account since May. When I call I can never get anyone and as you can see I have paid this company over 2,000 for a 400 loan. I reside in Philadelphia and I need your help as well. My checking account goes into the negative every month because they deduct 120.00 on the 15th and 30 of each month. I haven't closed the account because my other bills are deducted but I am at my wit's end now. just look at all the money that have gotten from me for a 400.00 pay day loan, so I can imagine how much they are getting from others. I really would appreciate any help.

I would open another account to avoid GRC Funding debit my a/c. Transfer the legit bills over to it and then close the one you have now. That is the only way to stop them.

It might be a pain for a little while but better than them robbing you blind every month.

I took a 500 payday loan with this company back on 10/1 and they've since taken a total of 1200.00 from my checking account. I tried writing and calling them to no avail. I went to my banks branch manager who put an ACH withdrawal stop payment on my account for GRC Funding and also put 450.00 (3 withdrawals) back into my account. The bank advised me to close the account now which I am doing today. They are calling my employer, harrassing them and me over the phone and I spoke with a supervisor there who now says they are filing a judgement in NJ against me for 800.00 which is what they calculate is still due to them after the money they've already taken. I feel I've taken the correct and necessary steps but wanted some feedback from you.

Securing your bank account is always the first step. What state are you in and have you checked your state laws? If you live in NJ as stated above tell them to go ahead and file a judgement because Payday loans are prohibited in NJ.
New Jersey State Information

Legal Status: Prohibited

Citation:
Consumer loan act applies but rates as agreed to by contract. N.J. Stat. Ann. tit. 17, 1 et seq. However, criminal law sets the usury cap at 30%. N.J. Stat. Ann. 2C: 21-19. A check cashing licensee cannot cash or advance money on a postdated check. N.J. Stat. Ann.17:15A-47.

Small Loan Rate Cap
30% per year

Where to Complain, Get Information:
Regulator: New Jersey Department of Banking and Insurance
Address: 20 West State St. Trenton NJ 08625
Phone: (609) 292-5360
Fax: (609) 292-5461
Regulatory Contact: Ludi Hughes Assistant Commissioner
Regulator???s Website
Complaint Form
Complaint Instructions
Online Resources:
Personal Finance Information

They can not get a judgement as the loan was illegal.

You also need to file complaints with your AG, FTC and BBB.

i took a payday loan from a 800 number. i called, gave them some info and they deposited some money into my account without ever speaking to an actual person. it was all automated. they lent me $500. they have been taking $150 out of my checking account every 2 weeks for the past 5 or 6 months. apparently this has only paid the interest and not went towards the balance at all. i don't know what to do. i am in oklahoma

What was the name of the company?

I got a payday loan with these people over the internet in Dec 08. Only $500, I have been paying $150 every two weeks since then and my princple balance has not gone down. I tried to read about the laws in Louisiana but I got confused. Is there any way possible to fight this living in Louisiana?

Rollovers are not allowed in LA.

Here are the state [urk=http://www.paydayloaninfo.org/state_detail.cfm?id=LA]laws[/url]

I did not find GRC as a legal lender in LA.

The best thing you can do is close your account or they will continue to take out the fees and nothing will even go towards the balance.

Thank you nohiogal for the quick response. I will read the laws and try and get my bank account in order before they draw more money.

Thank you nohiogal for the response. I will read over the laws in my state and close my bank account. I just hate that they were able to get this much from me. Thanks again!

Your welcome and keep us posted.

I took a loan from GRC funding and overland in November. Both companies have been charging me 150 and 120 biweekly ever since. The balance is not going down and they caused my account to be overdrawn and they recharged my account three times in one week at one point. I would love to have paid these off but they have already taken nearly triple the original loans worth. I live in NJ what can I do?

Chris the first thing you need to do is secure your bank account immediately. Please read this thread on closing your bank account. Best of Luck :wink:

http://www.debtconsolidationcare.com/paydayloan/close-account.html

Name: Geneva Roth Capital
Phone: (800) 351-8820
Fax: (800) 351-8820
Address: 1338 South Foothill Dr # 325 PMB
Salt Lake City, UT 84108

I live in CA and maybe our laws are a little different, however they sent me a link to there website to allow you to at least add a little to each chunking finance charge they take ever 2 weeks to bring down your principal. https://customer.loanpointusa.com

GRC is also known as loan point.

How would you go about sending them a certified letter stating they're illegal?

You can email it, fax it and send it USPS certified mail with return receipt.

If you fax it, do not send it from your work. They may turn around and use that number to send collection letters.

good luck with the advice of closing your account...... i did it they found my new account through a money transfer and started milking that one,so its best not to change accounts...they just eat you alive....................................

That is the worse advice.

How did they get it though a money transfer? Did you transfer the money from your account to them? To another payday loan?

They can not get your new account information unless you 1) give to them or 2) go on the internet and apply for new payday loans.

One more question,is there a template of a letter I should send that lists the laws of my state or what not? I'm in Texas btw.

There a remplate here. Scroll down to post 13.

You need to change it to your information and state law.

You can copy and paste the Texas Laws from here.

Paste them in the letter where it says "State Law Information".

Thanks for your help.

Had to close my bank account that I have had for the past 20years, and open a new one! Figure they'll call when they can't continue to pull money out! Sucks, but that was the only option I had per my bank.

Opps nothing to see here. Move along :P

I sent them emails and letters and they've ignored them.I'm about to close my account too,luckily for me I have two checking accounts.

Is it lagal for these companies to contact your employer/ references

Yes it is Legal for a PDL company to contact your employer and references you listed on your loan application.

However it is Illegal for them to share any information regarding the debt or threaten your references and employer.

I got a payday loan from GRC Funding and it was for $400.00 and two weeks later they took the whole $520.00 now my checking account is overdrawn and we now have no money for our car payment.

I took a $500.00 payday loan from grc in January 2009 because I was having problems as i am a construction worker. Every 2 weeks they have been taking $150.00 out of my account. I have put a stop payment on them but some how they got around this and got in my account again. to date I have payed them almost $2000.00. It looks like I may have to close my account as well. GRC is a big ripp off, and they will rob you blind. Do not do business with this company.
Allan
California

they are debiting my account for 90.00 every two weeks. i cannot contact anyone with this corporation. i live in indiana, is this legal?

I live in AR. How do you know if the loans are legal or not?

i got one for 600 and they never asked me if i wanted it for sure!!! it just showed up one day what can i do

i got one for 600 and they never asked me if i wanted it for sure!!! it just showed up one day what can i do

Go to the bank and reverse the charges. I am sorry to tell you this but not that they have your personal account information they will most likely debit your account, you would be better off getting rid of that account altogether.

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