Pay Day Loans
Date: Wed, 07/02/2008 - 11:18
1. United Cash Loans - Original Amount = $200. I have paid $240 to date in interest.
2. Paycheck Today - Original Amount = $300. I have paid $500 to date and still owe $150 on the actual loan.
3. Cash Advance Network - Original amount = $400. I have paid $480 in interest only.
4. Impact Cash - Original amount = $300. I have paid $270 in interest.
5. US Fast Cash - Original amount = $350. I have paid $210 in interest.
6. Prestigage Marketing - Original amount = 300. I have paid $270 in interest.
7. Loan Shop - Original amount = $300. I have paid $180 in interest.
8. Sagamore - Original Amount = $300. I have paid $180 in interest.
9. Eagle Finances - Original Amount $300. I have paid 410 and still owe 250 on the loan.
I am also starting to recieve debits on my account from companies I don't know or have any paperwork on. One of them is signmyloan. The only loans I signed up for are the ones listed above. I am not sure why I have others debiting my account.
All of the loans are internet and I live in IL.
Thank you in advance for any help.
Hi Paul - Thank you for your response. By any chance do you kno
Hi Paul - Thank you for your response. By any chance do you know how I can find out for sure if they are illegal and what my next steps should be.
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these are the three main laws where pdl's are concerned
1)15.50 per hundred borrowed
2)no rollovers allowed.
3)no more than 3 pdl's out at time.
knowing these are internet,they must be licensed and registered with the state.if any of your pdl's are legal someone
will say so,but i'm confident they are not.i would take care of your bank first.either put a hard debit block or close that acct
and open a new one.some of those you have overpaid and should be given a refund,but if they have access to your money
they will debit indefinitly if allowed to.
The Illinois DFI can validate if they are legal or not.
The Illinois DFI can validate if they are legal or not.
Thank you! I am going to my bank tomorrow morning. I called to
Thank you! I am going to my bank tomorrow morning. I called today and they told me I had to come in. I seem to be paying $30 per hundred on all of them?
I just did a search on the DFI website, "Search Licensees" and n
I just did a search on the DFI website, "Search Licensees" and none of the names of payday lenders I have came up. If this is the case, what should I do next? I fully intend to pay the money I borrowed back, but I need to stop these outrageous fees. Thank you
Hopefully your bank will let you put a block on all of these loa
Hopefully your bank will let you put a block on all of these loans. Three of the loan company's you have listed I've dealt with myself and I know for a fact they are not licsened. I would also send a letter to all of these companies revoking authorization to make any further debits from your account.
Ensure your account is closed first before contacting any of the
Ensure your account is closed first before contacting any of these companies...
Any advise on how I go about contacting them? And what exactly
Any advise on how I go about contacting them? And what exactly should be said? I never dreamed I would be in this position, but it was very easy to get into. I appreciate all the help I can get! Thank you
Does anyone know how to move this post to the Payday loan sectio
Does anyone know how to move this post to the Payday loan section? I am very new at all of this!
reply
i checked your pdl's
this is a breakdown of what you owe.
united cash-owes you 40.00
paychech today-owes you 200.00
cash advance network-owes you 80.00
impact-you owe 30.00
usfastcash-you owe 140.00
prestige-you owe 30.00
loan shop-you owe 120.00
sagamore-you owe 120.00
eagle finance-owes you 90.00
since all these places are not licensed therefore illegal,you
are only obligated to pay the principal borrowed.as you can
see you overpaid a few,and should get a refund.i hope you
block there access to your bank.
You should send a letter to them, certified mail..to prove they
You should send a letter to them, certified mail..to prove they received it. Mention your state laws and let them know you will make payment arrangements to clear up what you owe them only through money orders. I would also consider filing a complaint with your states AG office, it might be a way to help get a refund or a paid in full statues with the ones you have overpaid.
Any suggustions on what the letters should say? I am sorry to a
Any suggustions on what the letters should say? I am sorry to ask so many questions, but I want to make sure I do the right thing.
Kerrie, Here is a link to a letter that is posted in another thr
Kerrie, Here is a link to a letter that is posted in another thread. You can use it as a template and alter it to fit your situation.
http://www.debtconsolidationcare.com/paydayloan/outstanding-loan.html
Thank you for your help with the letter, I am going to get them
Thank you for your help with the letter, I am going to get them all ready tonight. I am going to my bank in the morning.
I went to the DFI website and looked up all of the payday lenders I have, none of which came up. Do you think this is correct or did I do something wrong?
Thank you again everyone for all the information!!!!
I am inclned to think that you are on the right track. Just by
I am inclned to think that you are on the right track. Just by looking at your companies, I know most of them not to be legal...matter of fact several are subsideries of MTE...which is completely illegal. Be sure to mail your letters certified return receipt...that way you have documentation you sent them. Also, do not send those letters until your account is completely taken care of. If you need anything else, just post or pm. You are doing a great job. - Roxy
Ps....this is some helpful information to read before going to your bank, in case it has not already been posted.
http://www.debtconsolidationcare.com/paydayloan/close-account.html
Thank you very much. I have another question, I received a l
Thank you very much.
I have another question, I received a letter in the mail today from my bank informing of 8 different transactions that were posted to my account yesterday. After looking at all of my stuff, I have no idea where they are coming from or for what. All of my payday loans have been accounted for. This just started on this payday and I have not opened up anything new. The debits read just like a payday company. They include: Eagle Finance, MTE Financial, GRC Funding and EME Marketing. I just don't know why they would be debiting anything from my account.
These are PDL's....Damn! You said your pdl transactions were al
These are PDL's....Damn! You said your pdl transactions were all accounted for...these are in addition to.. Did any of these companies deposit any money in your account. I recognized several of your pdls as MTE companies...Dispute these with your bank...Go back through your statements and see if any of these companies deposited $$ you were not aware of. You need to close/block your account asap before you loose andy more money.
I have gone through everything and these 4 companies are in addi
I have gone through everything and these 4 companies are in addition to my payday loans. I only have deposits from the payday loans I originally posted, (I have also gone through and accounted for each one of their payments) these are additional debits and I don't see any deposits from them?...
When I send out the letters tomorrow after I close my account or
When I send out the letters tomorrow after I close my account or put a hold on it, should I also email the companies that I have the email addresses too?
I emailed, faxed and mailed letters just to make sure I had them
I emailed, faxed and mailed letters just to make sure I had them covered in all areas. So some of my companies may have gotten the letter three times...LOL, but at least they couldn't say they didn't receive it.
Kerrie, be sure your bank understands that these are not authori
Kerrie, be sure your bank understands that these are not authorized debits...you never took a loan from these companies. And I did the same as PinkLady...emailed, faxed all of it becuase I was not sure of the addresses and wanted to be really sure they received my letters. :D
Thank you everyone, I have all of the ready. I am heading to th
Thank you everyone, I have all of the ready. I am heading to the bank in a few hours and after that I will send out the letters. I will let you know what happens.
Thanks again!!
PDL
I received a loan from B.I.G Int last week. When I spoke to them they told me that being a first timer if I paid it back in full on y first due date, there would be NO INTEREST (a special they said they had going on). Well my first due date was yesterday and they took $80 out of my account. When I called they told me this was the processing fee to role my loan over. I advised that I had agreed to pay it back in full (which was $200). They told me I would have to pay $280 (the loan plus the processing fee) and that I could pay it back the next time around. I am LIVID. This would mean that I've paid these people $360 for a $200 loan. What can I do?
Tamica, BIG is VERY illegal, they will drain your account dry un
Tamica, BIG is VERY illegal, they will drain your account dry unless you close your account, or place a hard debit block on it. They are more crooked than a dogs hind leg!
Hi Everyone, I just got back from my bank. I was able to clos
Hi Everyone,
I just got back from my bank. I was able to close my account!! I asked to get an updated statement and there are 2 more companies that I never authorized to take money out. The 2 companies are Money & More and LIC. Has anyone ever heard of them?? My bank said that I need to contact the companies before they can do anything? Is this correct?
Also, I did not open another account yet, do you think I should go to a different bank? I just want to make sure that I stop all of these companies from taking my money..
Thank you
Kerrie, most of the time members advise you go to another bank t
Kerrie, most of the time members advise you go to another bank to make it more difficult for the pdls to find you. It is your call. I have nver heard of these companies....I would try to atleast make contact so your can file further.....I would do so in writing and followup with a phone call. I am really happy you were able to close your account. Just be sure it is completely closed and can not be forced open if the pdls continue to debit.
I received another letter from my bank today informing me of som
I received another letter from my bank today informing me of some more attempted debits. When I went to the bank on Thursday, my account was in the negative and I had to bring it positive before closing it. I asked the women I was dealing with if I brought it positive today would we be able to close it today even though it was past 3pm. She told me yes, it would be immediate. Luckily I had money to put into the account and processed the paperwork. Apparently the women I spoke with was incorrect. Now my account is in the negative again. My whole paycheck has been wiped out with all of this and I don't have the money to bring it positive. I am also a little concerned about putting money back into the account. I spoke with the bank about putting a "hard block" on my account until my next payday so I don't get hit with anymore fees. They told me they couldn't do this? I feel like I am being bounced around and no one is willing to help me. I am really getting emotionally drained and don't know what to do. I very nervous about what is going to happen, because I sent the letters out on Saturday, after my bank account was supposedly closed. Does anyone have any advice?
Hi Kerrie, It is unfortunate you are dealing with all this. Mos
Hi Kerrie,
It is unfortunate you are dealing with all this. Most banks have a force open policy within 30-60 days after closing your account. So any debits that come through after your account is closed will re-open your account and cause you NSF fees, etc.. Did you speak with a Branch Manager at the bank and inform them of your situation and why you were closing the account? Sometimes the BM can place a freeze or "do not force open" restriction on your account on top of closing it, so it cannot be re-opened. This is done when you loose a checkcard or have it stolen, and identity theft. Banks can do this, it is just a matter of being thorough with them and persistent in why you are closing your account.
I would go back to the bank and speak with the same representative and question her why the account was re-opened. It is apparent she did not inform you of the "force open" policy. Bring the letters you sent to the PDLs and show the BM that these companies were unauthorized to debit your account. Maybe they can reverse the charges and re-close the account with the restriction placed on it. It is worth a shot, also this has been done before by others on the forum. You said your whole paycheck was wiped out, did that go into your closed account as well? :?
My paycheck went into my account before I closed it, and then I
My paycheck went into my account before I closed it, and then I had to transfer money (the rest of my paycheck) to bring the account positive in order to close it.
The letters I sent to these pdl companies I drafted from the letter that was posted on this thread. Should I give them copies of that, or should I send another letter out? I am sorry to ask so many questions, I just am anxious to get some relief from these. Thank you to everyone for your help!!
Take a copy of the letters revoking the PDLs debits to the bank
Take a copy of the letters revoking the PDLs debits to the bank with you. Show them this and maybe they will be willing to help. Did you send these letters out certified with signature confirmation?
Yes, I sent them out certified w/ signature. I was also going t
Yes, I sent them out certified w/ signature. I was also going to email and fax them yesterday (because I didn't have access to a fax over the weekend), but I haven't done this yet because of my account. I am sure they will start receiving my letters as soon as today, so should I just send them out email and fax or just wait? I have a call into the bank manager now, I am just waiting for a return call, I will let you know.
Send them again today if you like. OK, keep us posted. Best of L
Send them again today if you like. OK, keep us posted. Best of Luck :P
Thank you very much for the encouragement. Reading the differen
Thank you very much for the encouragement. Reading the different threads on this site and the advice I have been personally given, really makes me feel better and I am really glad that I am not alone in this mess.
I spoke with the branch manager, she was very nice. She is going to wait for me to come in tonight to give her the letters. She said when she has those I will need to sign something and she will put an immediate block on my account. So hopefully this will be the end of the bank account.
I also sent out all of the letters via email and fax, so we will see what happens.
Thank you again
Happy to hear that. It is great she will work with you. The BM w
Happy to hear that. It is great she will work with you. The BM will probably have you sign an affidavit putting an permanent block on the PDL companies. Make sure you have all the names of the PDLs before you go into the bank. Also point out that you spoke with the CS rep at the bank and she informed you the bank account could not be reopened. Hopefully she will reverse the charges as well for you. Ensure the BM places a restriction on your account after closing it. Good Luck! :D
I just received this from one of the PDL's. I believe it is jus
I just received this from one of the PDL's. I believe it is just a standard response?
[quote]We have received your documents or request. Please call customer service if you have any further questions at 1-800-279-8511. We are open Monday through Thursday 8 AM to 4:30 PM and Friday 8 AM to 3:30 PM Central Standard time.
Thank you,
UnitedCashLoans
Email: [email]customerservice@UnitedCashLoans.com[/email]
Phone Number: 1-800-279-8511
Fax Number: 1-800-803-8794
Do not reply to this email, as emails sent to this address are discarded. Please use the email address above.[/quote]
Ok, so I am starting to get some feedback from my faxes and emai
Ok, so I am starting to get some feedback from my faxes and emails yesterday. Below is an email I received regarding my loan with Prestigage Marketing / Vince Enterprises:
Kerrie, this is Steven with the customer service company for Vince Enterprises. First of all I must say that I'm dissapointed that you reported us to all that was stated in your letter. When we loaned this money to you, we explained how this worked and you accepted the terms and the money anyway for 2 loans. Now all of a sudden it's all our fault and we are the bad guys.
We don't want your money. Consider your loan forgiven. No more charges will be taken from your bank account and your name will not be turned over to collections.
In the future it's my suggestion that you take responsibility for your own actions. We were faithful in loaning you the money when you needed it and again explained how this worked. Apparently you didn't listen and now you're all upset throwing all these threats around. Again your loan is forgiven, so relax life is too short. Any questions call 877-878-2700 ask for me and we'll talk about it if you wish.
Sincerely,
Steven
Here is another one that I never originally signed up for, but a
Here is another one that I never originally signed up for, but after reviewing my accounts, they did deposit money into.
Kerrie,
I have received your fax this morning and I am able to refund you $196.50.
I do need to fax you over some paperwork that I would need you to sign and send back with a copy of your drivers license.
Please provide a fax # that I can submit to.
Thanks,
Signmyloan.net
And another: [quote]Kerrie: We are sorry to hear you hav
And another:
[quote]Kerrie:
We are sorry to hear you have not been satisfied with your experience with Impact Cash USA. We are willing to settle the account with one more payment of $30.00. Which will put you at paying back $300.00 which is the amount you borrowed from our company. Please send payment in the form of a money order to the address below.
Impact Cash USA
P.O. Box 3206
Logan, UT 84323
Please let me know if you have any further questions.
Thank you,
Account Services
Impact Cash USA
1-800-707-0102 ext. 8005
Monday-Friday, 8-5pm (MST)
[email]accountservices@impactpayments.com[/email][/quote]
Ok, I just received a phone call from Anthony Carter at the Loan
Ok, I just received a phone call from Anthony Carter at the Loan Shop. He wants me to call him back so we can work out a deal.
Kerri, I hope you did not give that company your office fax# an
Kerri,
I hope you did not give that company your office fax# and Drivers License information :? Why can't he send the information through email :?:
I emailed them back asking them why they need my drivers license
I emailed them back asking them why they need my drivers license and why they can't email me the documents. I have not heard back yet.
I am receiving calls from some of the other pdl companies remind
I am receiving calls from some of the other pdl companies reminding me of my payment coming due. I assume they are just ignoring my original letter. My question is should I just keep emailing these companies and if so, do I just keep sending the letter that I originally sent or should I send something else.
Thank you in advance for your help!
The original letter is fine. Just make sure you have sent a hard
The original letter is fine. Just make sure you have sent a hard and soft copy.