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Need help in Florida

Date: Sat, 07/12/2008 - 17:08

Submitted by mz.ellaneous
on Sat, 07/12/2008 - 17:08

Posts: 9 Credits: [Donate]

Total Replies: 27


I have three outstanding payday loans:

Cash Net Usa - owe $900 in principal (original loan $1000, paid off $100 principle)

Geneva Roth Ventures - owe $225 (original loan $300, paid off $75 principle)

Interim Cash - owe $250 (original loan $250, paid nothing on principle yet)

All three our internet based loans.

How do I even start to take care of this mess? Just today, I opened another checking account with a different bank, and switched my direct deposit to it. But what should I do with the checking account that these companies have access to? In five days, the next interest payments are due, and there won't be any money in that account.

Any advice will be greatly appreciated!


I guess it would be helpful to post how much I've paid in total (including "finance charges")

Cash Net USA - approx $328.60
Interim Cash - $405.00
Geneva Roth - don't have exact amount, but at least $955.50


lrhall41

Submitted by mz.ellaneous on Sat, 07/12/2008 - 17:39

( Posts: 9 | Credits: )


I'm sorry, sometimes I'm a dunce lol, you're in FL, I will post your laws shortly. This account that you still have opened, why not close it? Is there a reason why you aren't closing it, if there is, place a hard debit block on it so no more money can be withdrawn from these companies. Then you can contact them and let them know you are going to make payments but you will need a physical address to send them. I would only send them money orders if I were you, and you can expect them to probably harass the heck out of you. Also, they will probably be very reluctant to set up payment plans with you but you're going to need to stand firm and make it clear you will pay them off through money orders only. You will also need to send them a letter (via email will do) revoking all wage assignments, then give a copy to your payroll person. After I post your laws we need to find out if these companies are licensed to lend to FL residents. :)

You will find the Payday loan laws for Florida here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


lrhall41

Submitted by Shazzers on Sat, 07/12/2008 - 19:05

( Posts: 17344 | Credits: )


Well hmmmm, that doesn't look like the correct data base, my bad. Well, anyway, we can do a search on these companies here at this forum by placing the name of the companies in the search box in the upper right hand corner of this forum, that will pull up numerous topics, these topics will contain information on these companies about how other members dealt with them. :D


lrhall41

Submitted by Shazzers on Sat, 07/12/2008 - 19:11

( Posts: 17344 | Credits: )


Quote:


No, there's no reason I can't close the first account...just have to wait until Monday when they open to do it. Are most banks willing to do the hard debit block? If not, what are other options?


I can't think of any reason why they wouldn't place a hard debit block on it, but you will need to go into the bank and ask to speak with the Branch Manager. Just request that they place a hard debit block on your account, if you don't want to go into a long explanation why, just tell them you are securing your account due to some possible illegal activity.


lrhall41

Submitted by Shazzers on Sat, 07/12/2008 - 19:14

( Posts: 17344 | Credits: )


Quote:

The only problem with going into that bank is that it is in Colorado and I am here in Florida. Won't be able to go in person. I'll see what I can do over the phone.


You might be better off closing it. When you call, ask to speak with the Branch Manager, explain your situation, that's what I would do.


lrhall41

Submitted by Shazzers on Sat, 07/12/2008 - 19:20

( Posts: 17344 | Credits: )


It looks like Interim Cash is a difficult company to deal with and possible not even in the U.S., I did find this address, not sure how accurate it is though. :?
Interim Cash
19 W 34th St New York
NY 10010

I'm going to post a sample letter that you might want to consider sending to these companies, it covers mostly all the bases. You will probably need to omit some of it, just tailor it to your needs. :D


lrhall41

Submitted by Shazzers on Sat, 07/12/2008 - 19:28

( Posts: 17344 | Credits: )


I believe that Cash Net is legal, I'm not sure about the other ones though. Hopefully someone who has dealt with these companies will come along shortly with some advice for you on how to deal with them. Make sure you keep checking back to see. :)

Quote:

Name
Address
City, State
Account #

Date

Company Name
Address
City, State

To Whom It May Concern:

It has been brought to my attention that your company is not licensed to lend in my state, therefore making the contract I had with you null and void. I will agree to pay the principal amount of the loan, however, I will need a physical address to send payments in the form of money orders. These are my terms, if you are not willing to accept my terms, then you will not receive any payments.

You are hereby notified that I am revoking ANY and ALL ACH transactions made by your company on any of my personal accounts. If you make any attempts to do so, I will be forced to take legal action against your company. I am also revoking any and all wage assignments I may or may not have signed with your company, my employer has been notified about this matter.

As of today ________, the only contact you may make with me is either through email, or USPS. I also demand your company and any affiliates of your company cease and desist all contact with me (except what is stated above), my employer, or any references I have listed on my account.

Your cooperation in this matter is appreciated.

Sincerely,

Your name


lrhall41

Submitted by Shazzers on Sat, 07/12/2008 - 19:32

( Posts: 17344 | Credits: )


Geneva Roth is MORE than paid, I wouldn't give them another dime, in the first place they have obviously charged you some illegal fees & interest. I wouldn't pay them anything more if I were you. I would also venture to say that Interim is unlicensed/illegal, with that said, it's also paid off. I can't believe that Cash Net USA loaned you that much money when the legal limit is $500., is that an installment type loan?


lrhall41

Submitted by Shazzers on Sun, 07/13/2008 - 02:54

( Posts: 17344 | Credits: )


Well then, if it's a pdl loan, they sure broke the law by allowing you to borrow more than your state law allows, and the interest was ridiculous, they can't possibly be a legal lender. I am hoping someone who has dealt with them will be along shortly to confirm or deny this. Keep checking back. :)


lrhall41

Submitted by Shazzers on Sun, 07/13/2008 - 10:27

( Posts: 17344 | Credits: )


Inernet payday loans in Florida fall under the Florida Consumer Protection Act and not the laws posted earlier. CashNet is licensed in Florida and a Credit Service Organization and is not in violation of the law. You are required to pay them back. The laws posted are the regulations for the storefront in Florida like Amscot. This information comes from the Florida Dept of Financial Services.


lrhall41

Submitted by Frogpatch on Mon, 07/14/2008 - 09:40

( Posts: 5381 | Credits: )