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Need PDL Help

Date: Tue, 12/16/2008 - 14:09

Submitted by raegreen54
on Tue, 12/16/2008 - 14:09

Posts: 25 Credits: [Donate]

Total Replies: 7


Please help me get started. Listed below are my PDL's - all online loans. I live in CA.

Impact. Loan 350. Have paid finance fee of 105.00. They say my balance is 580.00

United Cash Loans. Loan 400.00 Finance fees paid 360.00. They say my balance is 670.00

Shamrock. Loan 300.00. They say my balance is 762.00 and will not give me any information about my account.

Emerald Loan 300.00 They say my balance is 629.00. They told me I have paid 180 in finance fees but cut me off after they told me that much. Would not give me any more information.

ameriloan. Loan 500.00. They say I still owe them 342.50 I have paid them a total of 1192.50 between finance fees, etc.

Where do I start with all of this. Your forums are helpful and enlightening. I look forward to hearing from you all.


California requires Internet based pdl's to be licensed by your state. ameriloan is not licensed to lend in any state, all you are obligated to pay an unlicensed lender is the principal amount. I wouldn't allow them to have access to my account as they very shady lenders.

Quote:

California State Information

Legal Status: Legal

Citation:
Cal. Fin. Code ???????? 23000 to 23106

Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact: ,


lrhall41

Submitted by Shazzers on Tue, 12/16/2008 - 17:53

( Posts: 17344 | Credits: )


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]


lrhall41

Submitted by Shazzers on Tue, 12/16/2008 - 17:54

( Posts: 17344 | Credits: )


Impact Cash LLC
1551 RENAISSANCE TOWNE DR, STE 560
Bountiful, UT 84010
Telephone: (435) 214-4148

United Cash Loans

3531 P Street NW
Miami, OK 74355
Telephone:800-230-9480
gphillips at unitedcashloans.com
United Cash Loans are part of MNE and are not licensed anywhere.
UCL (800) 279-8511
3531 P Street, NW
PO Box 111
Miami, OK 74355

ameriloan
is not licensed anywhere in the U.S.
3531 P Street NW Miami, OK 74355
Phone 800-362-9090


lrhall41

Submitted by Shazzers on Tue, 12/16/2008 - 17:57

( Posts: 17344 | Credits: )