Need Help with PDL's
Date: Tue, 11/11/2008 - 17:21
We have 8 pdls 2 are almost paid off.
I live in colorado.
Internet Sites
Cashnet USA $500.00 with $75.00 finance charge
STC Advance $200.00 with $74.oo finance charge
United Cash Loans $200.00 with $60.00 finance charge
Cash Transfer Centers $1000.00 with 270.00 finance charge
One Click Cash paying off owe $115.00
StoreFronts
Emergency Cash $500 with $75.00 finance charge
Adanvce America $500 with 75.00 finance charge
MoneyTree paying off owe $83.33
We are current on all but they are getting harder and harder to pay and I am starting to fall behind on some bills because of them. Any advice on what to do or where to sart would be greatful.
According to internet payday loan laws of your state Colorado, t
According to internet payday loan laws of your state Colorado, the pdl companies are required to be licensed in your state. If they are not legal in your state then please follow the steps as mentioned in the page below: -
Steps you may consider if the Pdl companies you're dealing with are unlicensed/illegal in your state
But in case internet payday loan companies are licensed in your state or the payday loans are from storefronts then you have to follow the following laws of your state: -
Quote:
Legal Status: Legal Citation: Colo. Rev. Stat. ???? 5-3.1-101 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: Max: 40 days Maximum Finance Rate and Fees: 20%: $0-$300 + 7.5%: $301-$500 Finance Charge for 14-day $100 loan: $20 apr for 14-day $100 loan: 520% Debt Limits: Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted: One (renewal) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: One $25 NSF fee; Court Costs; Reasonable Attorney's Fees not to exceed loan amount Criminal Action: Prohibited (Unless the consumer's account was closed before the agreed upon negotiation date) Where to Complain, Get Information: Regulator: Colorado Office of the Attorney General Address: Uniform Consumer Credit Code, 1525 Sherman St., 5th Fl. Denver CO 80203 Phone: (303) 866-4494 Fax: (303) 866-5691 Regulatory Contact: Laura Udis,, Administrator |
Source: - "http://www.paydayloaninfo.org"
I need to get rid of some of these pdl's if someone could please
I need to get rid of some of these pdl's if someone could please tell me what is the first thing I need to do. I would greatly appreciate it. Do close my checking account or what?
Hi guest, Yes, closing you account would be the first thing,
Hi guest,
Yes, closing you account would be the first thing, I will post some info for you. if you could please tell us:
Where you live
Name of company
internet or storefront
amount borrowed
amount paid back including fee's
We should be able to help you further.
Quote:
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. |
We have 8 pdls 2 are almost paid off. I live in colorado.
We have 8 pdls 2 are almost paid off.
I live in colorado.
Internet Sites
Cashnet USA $500.00 with $75.00 finance charge
STC Advance $200.00 with $74.oo finance charge
United Cash Loans $200.00 with $60.00 finance charge
Cash Transfer Centers $1000.00 with 270.00 finance charge
One Click Cash paying off owe $115.00
StoreFronts
Emergency Cash $500 with $75.00 finance charge
Adanvce America $500 with 75.00 finance charge
MoneyTree paying off owe $83.33
We are current on all but they are getting harder and harder to pay and I am starting to fall behind on some bills because of them. Any advice on what to do or where to sart would be greatful.
jillboggs
Joined: 11 Nov 2008
Posts: 1
Debtcc Points: 28
Another ?? If I close my account what do I do with some other bi
Another ?? If I close my account what do I do with some other bills that are automatically taken out of my checking account? and my direct deposits?
According to the internet payday loan laws of Colorado, a intern
According to the internet payday loan laws of Colorado, a internet pdl company can't lend in the state until and unless it is registered there. But I think Cash Net USA, United Cash Loans, Cash Transfer Centers and One Click cash are illegal in Colorado. So please complain against them to your State's Attorney General's Office.
Still need ?? answered
Okay my head is spinning with all the information on this site. It's great but I just need some ?? answered
1. If I close my account what do I do about the checks I still have out, bills that I have taken out monthly and my direct deposits?
2. When I contact my PDL people what do I tell them. Someone mentioned that there is a letter template. Where can I get that?
3. I read some info on this site about CTC Northway financial, will they try to garnish wages, and what do I need to do about that?
4. File complaints against them
5. Do I try to make payment arragements?
6. Anything else you think I need to do.
Thanks for all of your help!
You need to get a live check from your payroll if you close your
You need to get a live check from your payroll if you close your account. Pay your bills with money orders for a while. Make sure your bank does not have a "force open" policy for ACH withdrawals.
CTC will definitely try a wage assignment. It can be revoked by mail. You must contact your payroll and give them a copy of the revocation.
You MUST make arrangements with the storefronts before you default. If the are members of the trade organization whose name slips me, they are required to work with you.
The article in my signature link at the bottom may be of help to you also. Good luck! There is light at the end of a long, but not so long tunnel.
I don't think there will be any problem opening a new account.
I don't think there will be any problem opening a new account.