question about payday loans in ohio

Hi Chrisi and welcome to the community, I am also from Ohio and will be posting your pdl laws shortly. I can tell you for sure that LoanpointUSA does not have a license to lend to Ohio residents, that makes them illegal. They are basically stealing your money and there is only one way to stop them, I am afraid you will need to close out your bank account and open a new one at a totally different bank, if you can't slose it out, then you will need to place a hard debit block on your account, only a Branch Manager can do this for you. I am going to post some helpful information that will hopefully help you proceed. One last thing, I am confused about the loan which you say you have from the bank of Delaware, is this an installment loan? Please tell us what the name of the lender is.

Quote:

I hope the information below will help your brother. :)
[quote]He is are only obligated to pay back the principal amount he borrowed from an unlicensed/illegal Internet Payday Lender.

What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/quote]

Please do not reply to this email address.

To discuss your account please call 1-800-769-1058, Monday through Friday, between the hours of 8:00 am and 7:00 pm ET, or email us at [email]customerserviceilp@fbdel.com[/email]

Dear Personal Info removed by Shazzers for your protection,

Your loan payment in the amount of $305.84 has been dishonored by your bank and
needs to be resolved immediately. Two missed payments will place your loan into "default" and
the entire loan will become due immediately.

Please call us at (800) 769-1058 to make arrangements to pay the amount due.

Your prompt attention to this matter is required.

Sincerely,

First Bank of Delaware

Collections Dept

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Chrisi, I am honestly unsure about the Bank Of Delaware, I would rather someone who does advise you on this, keep checking back periodically. :)

I did not answer you on your question- it is an installment loan. Is that different than a PDL? thanks for all your help :)

Installment loans are different than pdl loans, they aren't governed by the same laws. :?

i have a installment loan thru 1st bank of delaware,and is about to default,i have a financial situation..if it does default what legally can they do...thanks

It appears that the $1500 loan from First Bank of DE is the installment loan that Check n Go is offering online. It is being marketed by CNG, but underwritten by First Bank of DE because they are a federally charter bank and are not goverened by state laws. As stated earlier, it is NOT a PDL and therefore falls under a totally different set of laws.

As for reprecussions, I do not know. Your first step would be to call CNG Corp Office in Mason, OH.

I had one of the CNG installement loans with First Bank of Delaware over a year ago. I did pay it off. If like me you get an email a couple days before the payment is due. You can contact them back using that email or the support number provided in the email.

I had to call them once because our direct deposit was messed up at work and had to ask them to move the withdrawl until Monday so I was sure it would clear. They did it but I can tell you they were not very pleasant about it.

I tried to get another loan from them after I paid it off but they were no longer working with CNG.