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Date: Wed, 10/01/2008 - 20:13
Cash Transfer Centers $700 internet paid $1134
B.I.G $300 internet paid $75
Cashnet USA $500 internet paid $525
Payday Yes $300 Internet paid $335
EZ Money $500 store front paid 0
Advance America $500 store front paid 0
Payday Loan Store $500 store front paid 0
I got into trouble when I began obtaining new loans to pay the old loans and then using the old ones again to pay the new ones. The folks at Cash Transfer Centers are rude and are saying they will deduct their amount from my payroll. I told them that I had not authorized that. They said I had and I could not revoke the authorization. Some guy calling himself "Anthony" said that I would be turned over to The Valentine Group and they would teach me to take my debt seriously. He left messages on my phone saying "Good luck, you are gonna need it". Look I know I screwed up. I had no idea it would get this far out of hand this quickly.
help on your matter
Just so you know NO payday loan company can have $$$ taken from your pay check directly without sueing you first. I have worked for both types of loan companies and they like to threaten you more than anything. They will harrass you though. The online lenders are easier to deal with though. By law if you send them something in writting revoking your autherization they have to stop debiting your account
Alabama require Internet based pdl's to be licensed by your stat
Alabama require Internet based pdl's to be licensed by your state. You have quite a few lenders which are not licensed, I will list the ones I know aren't licensed shortly. CLICK HERE for the Alabama licensee data base. :)
Quote:
Alabama State Information Legal Status: Legal Citation: Ala. Code ???? 5-18A-1 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: 10-31 days Maximum Finance Rate and Fees: 17.50%; 3%/month after default Finance Charge for 14-day $100 loan: $17.50 apr for 14-day $100 loan: 456.25% Debt Limits: Maximum Number of Outstanding Loans at One Time: None (max $ amount of loans at one time: $500) Rollovers Permitted: One (rollover) Cooling-off Period: Next business day after 2 continuous loans repaid Repayment Plan: Yes Collection Limits: Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check Criminal Action: Prohibited (Unless check returned due to closed account) Where to Complain, Get Information: Regulator: Alabama Banking Department Address: P.O. Box 4600 Montgomery AL 36103 Phone: (334) 242-3452 Fax: (334) 353-5961 Regulatory Contact: Arlene Baldwin, , Consumer Services Specia.list, Bureau of Loans |
I did not locate a license for the following lenders, in your st
I did not locate a license for the following lenders, in your state:
Cash transfer Center is illegal and based in Canada and Malta.
Cash Transfer Centers
Email: customercare(at)cashtransfercenters.com
Fax: 866-809-4069
Level 8 Suite 3
Plaza Commercial Center
Bisazza Street
Sliema SLM15, Malta
phone: 1-866-958-3278
fax: 1-866-809-4069
B I G Payday
1005 Terminal Way STE 102
Reno, NV 89502-2179
Telephone: (877) 282-5450
Fax: (877) 762-7350
big-int.com
Payday Yes is unlicensed/illegal, I could not find a license for them in the Alabama data base.
Cashnet USA is usually licensed and operating legally, I would suggest you make payment arrangements with them!
Your store front lenders would be my top priority, you could possibly be eligible for the EPP (Extended payment plan), all you would need to do is go into the store BEFORE your payment is due, and request they put you on the EPP plan, tell them you are having an unexpected financial hardship right now and need a payment plan, this will allow you to pay thiese loans off in four equal payments on each payday, provided these lenders are members of the CFSA.
I hope the information below will help you. :) You are only obl
I hope the information below will help you. :)
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
[quote]
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]