PDL Help in Illinois

hello,first geneva roth and all there d/b/a's are not licensed in IL.second neither is LOAN SHOP.you have overpaid both.as far as CHECK-N-GO.yes try to work with them on a payment plan.i didn't see where you safeguarded your account.sending letters withdrawing there ACH will spur them to clean your account if you didn't put either a hard block or closed it.stop payments won't work,as they can change the amount or put a paper check through.you must stop there ability to get that money first.

What is a Hard Block? Is that something I would do at my bank? Is that the same as an ACH hold? We have a lot of scheduled payments that come out every month (car, cable, insurance, etc). Would an ACH block those as well or can specify the ones we want to block.

Does anyone have a letter or an example of the language I can use when I contact Gevena Roth and the Loan Shop about my overpayment. I looked at the Illinois Law and if I am reading it right they can only charge me $15.50 per $100. I told the Loan Shop lady that this morning and she said they were not charging interest, that it was an extension fee.
If they are not licensed in Illinois, where can I get proof and what does that mean. That they should not have provided me the loan or does that mean that the contract I signed is not valid.

First, a PDL company must be licensed to lend to residents of IL and must follow IL lending laws.
Second, rollovers (or extensions) are not allowed.

So, based upon the above, it appears that your internet loans are illegal. If that is the case, then you are only responsible to payback the principal.

Find out which ones are illegal, how much you borrowed, and how much you paid in fees or extensions. The difference is what you owe them or overpaid them.

Check 'n Go is legal, so I would set up payment arrangements with them.

As for your checking account, doing an ACH block will prevent all ACH transactions from debiting your account, even ones you have scheduled for your bill payments. ACH block WILL NOT prevent a paper check from going through, so be aware that once a PDL gets an ACH blocked, they may try to submit a paper check.

The best thing to do is close it and open another. You need to maintain control over your funds to prevent the illegal PDL's from ruining you financially. Once you have secured your checking account, they will submit to your demands and repayment on your schedule!!

Best of Luck!

I just talked to customer service at Geneva Roth about my account again. I told them that continuing to extend my loan and charge me an extension fee was not legal in the state of Illinois and that I would not be paying the fee. They told me that since I signed the contract I would be responsible for paying the fee. She just kept referring to the loan agreement as a binding contract. I even offered to pay the full $400 of the original loan just to help end the nightmare, but she kept insisting that I have to pay $520 (400 plus 120 extension fee)>

My question is this: If the the terms of the loan are illegal then does that make my agreement invalid?

in fact,if you paid the 400.00 back with (supposed) extension fees.then you don't owe them anything.

Be sure that you read this information about closing your bank account, and as others have said, you should do that ASAP because if you have already revoked ACH authorization, they may not wait until payday to try to get whatever money they can get:

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

Also, you should revoke any voluntary wage assignment authorizations that you have signed. Be sure to give a copy to your employer so that the PDLs can't try to get it put through anyway.

Payday One is legal in Illinois.

D'OH i missed that one.thanks goudah.you must work with payday one as well as check-n- go.

Thank you for all the information!

I have negotiated my settlement with The Loan Shop using the tips from other posts. Once I got to the collection manager it was very easy.

I have also talked to Check n go and Payday One. They have agreed to stop the ACH debits and let me pay by Money Gram.

I am still having trouble with Loan Point USA. I get the same answer from all the reps. I just get so frustrated them I talk to them. They have no idea what the law in Illinois states and just keep repeating that I agreed to their terms. I have sent numerous emails with no response. I am going to try to get to a manager when I call tomorrow. I sent a complaint to the Illinois Attorney General Office yesterday. I hope that does some good.

Does anyone have any tips for dealing with Loan Point?

Has anyone ever gotten help from the Attorney General?

Thanks

Point out to them that, under IL law, any contract clause which contradicts IL is considered null and void (the clause itself, not the contract). Additionally, since they are not licensed to lend in IL (again required by IL law), then the entire lending contract is null and void. Offer to pay them the remainder of the principle (It looks like you have), revoke their rights to contact you via any form other than in writing, revoke the ACH authorization, and revoke the wage assignment. It is recommended that you close your bank account. Since you have already filed a complaint with the AG, file with the FTC and the BBB and then just ignore them.

They can't sue you in IL, and the worst that will happen is that they will send it to a bottom feeder collections agency. If they do, then you send a debt validation letter to the agency.

I checked my bank and they are trying to take out $120 tomrrow. I have to go into the bank and sign the stop payment form. I have sent them another email stating that they are violating Illinois Law and now they are violating the Electronic Funds Act. They just will not respond!!! I am closing my bank account this weekend. I have to wait until a couple of legal ACHs come out......
I am compsoing a complaint to the Illinois Division of Financial Institutions. With Illinois really cracking down on Payday lenders this may help.

I have issued a complaint to the Illinois Attorney General, the BBB of Utah and the Department of Financial Institutions in Illinois and Utah.
Still no response from Loan Point.......I guess they will contact me when they get the payment retured...

Does anyone know how long it usually takes to get a repsonse when you make a complaint?

I just got off the phone with Mrs. Pinkerton and some other person at Geneva Roth. They were so rude, they kept telling me to pay my bills and be a grown up! Come one, I have paid my bills. I have paid them way over the amount that I should have. They both said they were supervisors??? I have read other posts where they have said these same things to others. After I was hung up on... I called back and asked to speak with collections or fraud department supervisor and was transfered to someone's voice mail. I left a very direct message for him to call me ASAP. They threatened to sue me and said they can take money out of whatever account they want and will track me by social security number and debit any account they find......
I called my bank and they have flagged the debits from GRC funding. They threatened to take money out everyday. The bank said if they keep trying that I can change my account number.
I am getting ready to call the Attorney Generals office to follow up on my complaint and ask them for help. I may need to hire a private attorney... I am just so freaked out right now....

I got a letter form the Illinois Attorney Generals office today. Just said they have sent a copy of my complaint to to the named business (Loan point/Geneva Roth). Should be interesting to see if they respond. I am also waiting to hear back from the Utah Department of Financial Institutions and the BBB.

I sent a money gram to the Loan Shop today to pay off my loan with them. I originally borrowed 300 and they were charging me a rollover fee of 90 every two weeks. I made 3 payments of $90 for a total of 270. I offered to pay them the remaining 30 plus 46.50 in finance fees (Illinois allows 15.50 per 100 borrowed. They agreed to the payment of 76.50 and are going to mark my account as paid and send me a Paid in full letter. Yeah! One Down.

Good job, Dena!! Keep it up, and you'll get them all taken care of before you know it!!

Loan Point/Geneva Roth tried to take money out again today. Luckily the bank caught it and stopped it again.
I have read other posts about contacting the processor to help get the debits stopped, what do I need to tell them? Just that these are not authoirzed??
I talked to the Utah Department of Finanical Insitutions today. They were helpful. Jerry suggested that I call Rebecca at Geneva Roth and tell her what is going on. He said to tell her that since they are not licensed in Illinois they were not legally able to provide a loan to an Illinois resident. (which I already knew). He said that I should close my account (which I am doing as soon as I can). He also said that if they were not willing to work with me to settle this then to just ignore their calls. He said the only thing they could do would be to take me to small claims court and since they were not licensed in Illinois there was no way thet would go before a judge and try to collect anything!
I have the Illinois Attorney General and the BBB working on my complaint too. I can not wait to see how they respond.
If all else fails, I will just take Jerry's advice and let it go. I really learned a lesson on this one!!!

Take Jerry's advice. And congrats on your PIF letter!. I haven't been around much lately due to work and school, so I missed the post where you offered them 46.75 in financing charges. On this, since they are illegal in IL, you shouldn't have worried about this (although it was both kind and responsible of you to). IL could allow $1m in finance charges, but if the company isn't licensed to do business here, they aren't entitled to it.

I thought the right thing to do was to offer some sort of payment for interest. I figured it would be easier to settle that way. I am not sure if that is why they settled so fast or if they were getting hit hard with complaints!

I have been back and forth with Loan Point thru the Illinois Attorney General and the Utah BBB twice this week already. They are refusing to back down and so am I! They admitted that they were not a lender in Illinois and I resonded that was exaclty my point. Since they were not a legal lender in Illinois they have broken the law.
THey offered me a reduced balance of $240 (from my current balance of $640). No way and I paying another $240 or even another $640! I have paid $720 on a $400 loan. They are not getting another penny from me. The BBB offered a legal arbitration for $75. Has anyone ever done this?
I just sent my response to their reply to the Illinois Attorney Generals office so I am going to wait to see what they say before I decide to procede. I just may so screw it and let them try to sue me, like Jerry advice above, they are not going to come to Illinois. If they do, I would much rather pay an attorney than to pay them another dime.

i would wait until you hear from the IL AG.forget the UT BBB that is ridiculous.by the way if you sent them a letter revoking there ACH debit rights.every time they attempt to withdraw is illegal.that letter supercedes there illegal contract.i would keep it going with the AG.she will not let up on this company.

I did send them a letter via us mail and again several times via email. It did not stop them from trying. Luckily I was able to stop it at the bank and they did not get the funds. I have since closed that account and opened another. I check it twice a day just to make sure they have not somehow gotten my information. In my repsonce to the IL AG I listed out the dates and amounts of all the unauthorized withdrawl attempts along with all the names and numbers of the people I spoke with at Geneva Roth.
I figure I would have better luck with the Attorney General than with the BBB. At least I hope so! Have you had good luck in working with the AG office? They seem to be very responsive so far.

oh yes,ms madigan takes the rights of illinois citzens seriously.
i had 10 ipdl's.she fought them for me.some have just went away,others marked me PIF,the others came to there senses and took what i owed legally.some wrote me off.the point is that she will not allow these places to have there way with you.

That makes me feel a lot better. Thank you!!

my pleasure to help :D 8)