Help with Maryland PDLs

Maryland is known to have payday loan companies acting as CSO's (Credit Service Organizations). This means they do not need to be licensed, and are generally 100% legal in what they charge. If however, any of these lenders are payday lenders, they are NOT legal.



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Thanks for your reply. How do I know if any of these are CSO's? I have a letter prepared to send out and I've called Wachovia (my bank) to see about closing my account and to see if any ACH debits will be posted to my account after they close it and they claim that it will not post and it will be returned.

Also, I think I found that Cash Plus is a CSO in MD, so if I close my bank account, will they accept the letter and let me mail payments into them?

Oh and I forgot about Greenlight Funding: ($250 loan - $435) still owe around $60.

And now instead of One Click Cash making one payment they made two separate debits which caused my account to go into the negative.

Does anyone have advice for me please?

kawgirl go to your bank and fill out a formal dispute, tell them you did not authorize those debits, then you really should place a hard debit block on your account until you can get this worked out.

They told me that I couldn't place a hard block on my account that I would just have to close it. And I cannot close it until it gets out of the negative.

If I tell them that I did not authorize, won't the PDL come back and say that it was?

Actually, you CAN put a hard debit block on your account, but you need to speak directly to the Branch Manager, as managers are usually the only ones who can authorize it. No, they can't come back on you because you can revoke electronic transfers at any time, that's YOUR right, it's called the EFT (Electronic transfer act). The problem I foresee in your situation is some of the lenders you have could possibly be CSO's. You need to find out which are CSO's, and which are not. You also need to make payment arrangements with the legal lenders you have, but in the mean time, in order to protect your best interest, you need to secure your bank account, asap, then be proactive in making arrangements to pay back these legal lenders and CSO's. If you type the name of each lender into the search box in the upper right hand corner of this forum you can research these companies to see which are legal, and which aren't. Once you find that information out, you can then begin making arrangements to pay them back, I would opt to make payments to them via USPS with a money order. But the first step is to find out which are legal lenders/CSO's, and which aren't. I hope this explains a little more clearly. :)

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Thank you so much Shazzers for your help. I did talk to Wachovia and got them to place a hold on my account. However, I'm waiting for a credit from a return to post to my account and then I can close it. And also the branch manager said that if she did it today it won't post until tomorrow probably and it only lasts 48hrs. So, hopefully I will be able to close by Friday.

And also since Cashnet USA is a CFSA can I ask them for a payment plan instead of paying the $400+ at one time since I'm closing the account and letting them know before the payment is due next week?

Yes but isn't Cashnetusa a CSO? Ya know, it wouldn't hurt to ask them, acutally, they are going to need to negotiate with you if they want their money, they might be resistant at first, but I'm thinking if you explain you have every intention of paying them back but you need a payment plan they might be willing to work with you. Also, if you do get a new account, I wouldn't give that info out to ANY of these lenders, just tell them due to illegal activity on your account it was closed and you can't open a new one, therefore that only leaves you with the option of paying through USPS via money orders. :)

what and where is sgs loan pay

I'd also recommend contacting the MD Commissioner of Financial Regulation, whose # is listed above. They can be a big help in dealing w/ PDL's.

Here are my PDL's that I am struggling with. I am also in MD and requested from M&T that they close out my account immediately. What should be my next steps?

Total Due Finance Amt
MyPayDayLoan $450.00 $150.00
CashNetUsa $1,400.00 $360.36
United Cash Loans $400.00 $120.00
Everest Cash $300.00 $90.00
MyCashNow $470.00 $140.65
Discount Advances $500.00 $150.00
PayDayMax $400.00 $120.00
AmeriLoan $400.00 $120.00
Integrity $500.00 $150.00

Guest, CashNetUSA is a Credit Service Organization which means they would not follow the payday lender laws, you really need to contact them and make payment arrangments or they will eventually sue you. As far as the others, you need to check and make sure which are payday lenders and which are Credit Service Organizations, once you have weeded them out you can use the link below to deal with the payday lenders, but you will need to remain pro-active with the CSO's and make some type of payment arrangements with them. CLICK HERE to find out how to deal with illegal lenders.

Anyone have dealings with either of them? VIP had a person to call me pretending to be an attorney. I agreed to make 1 payment of $200.00 they found out I had another $200.00 available, which would have paid them in full. Now, 8 months later they are still claiming that I owe them.

PAYDAY MAX said that I owed them, I paid them through a collection agency, and they are still giving me different numbers to call, and NOT removing the fact that they have been paid.

Any help with the two of them? I closed the bank account with BOA after VIP took the second $200 I'm going to try to do research and see if BOA can help.

Has anyone seen the name Westgate on their bank PDL ACH debits? Do you know which company this is associated with?

Has anyone seen the name Westgate on their PDL ACH debits?

Sorry for the double post.

CashNet USA is no longer doing PDLs in Maryland. But they have another product that smells remarkably like a PDL It is allegedly a "line of credit". You can set up a line of credit for up to about $1500, and only draw on it when you need it. But of course, most people who use PDLs "really need" the whole thing, so they take out the whole amount. Then, unlike a regular line of credit, where you pay back over a long period of time, you put all the funds back into the line of credit over your next three pay periods, with a very substantial fee or interest rate. You will find that your first payment is mostly interest, and you won't be able to borrow against the line of credit again until at least your second period restores a little of your principal.