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Too many pdls

Date: Tue, 01/06/2009 - 16:55

Submitted by kaatt52000
on Tue, 01/06/2009 - 16:55

Posts: 13 Credits: [Donate]

Total Replies: 8


I live in KS and have the following pdl:

check city 567
check n go 575
cash central 567
cash net usa 555
pay day one 575
pay day max 830

My problem is that it takes my hole ck plus some to pay these off monthly, then i have to turn around and get loans again to pay my regular monthly bills. I need some help in getting out of this cycle. The amts are al current amts due this month. I am not currently behind on any , yet. Any help would be appreciated. Thanks.


City Check - Not sure
Check N Go - Legal, You should be able to get an EPP
Cash Central - Not sure
Cash Net USA - Not sure
Pay Day One - Legal, contact them to make arrangments.
PayDay Max - Illegal

For the legal companies just contact them and request and EPP, Extended Payment Program. They will spread the loan over for equal payments for four paydays.

For the illegal ones you only owe the prinicpal on the loan. If you have already paid that in fees then you don't owe them anymore and they may owe you a refund.

Here is a template letter you can send to the illegal companies. Just tailor it to your state and you information.

Quote:

Date:

Name Of PDL

Your Name
City, State
Account #


After doing research regarding Internet payday loan laws in the State of _______, I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of _____ in general:

Your State Information

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the XXXXXX to protect my interest in this matter, per instructions from The _____ Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed in the state of ____ to be a legal and binding contract, your company should NOT issue loans to ____ residents at all. I am requesting that you send me your license number which enables you to offer loans to ____ residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the ____ Attorney General's Office.

I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,

Your Name
CC:
Better Business Bureau
Ohio Attorney General
Federal Trade Commission


You should speak to you bank and but a block on all the PDLs ACH. They will attempt to withdrawl the money. If you can not get a block on them then you may need to close your checking account and open a new one.

You can read more about that here http://www.debtconsolidationcare.com/paydayloan/close-account.html

I am sure someone else will come along with more information on the PDLs I am not sure about.

Good luck and keep us posted.


lrhall41

Submitted by nohiogal on Wed, 01/07/2009 - 02:43

( Posts: 2582 | Credits: )


that's not totally true guest.CASHNET USA is legal and will work with you.almost the same terms as an EPP.


lrhall41

Submitted by paulmergel on Wed, 01/07/2009 - 05:44

( Posts: 15514 | Credits: )


CashnetUSA and CashCentral both offer EPP's I know this because I just finished doing it with them. Checkngo and CheckCity are also CFSA and do allow EPP's whether in person at their storefront or online. Also I have set up EPP's with lenders that are not CFSA like Ace Cash Express, sometimes you just need to ask. However, I have two storefront loans with companies that are not CFSA and they will not do an EPP, only a buy down.


lrhall41

Submitted by kfstaff24 on Wed, 01/07/2009 - 06:30

( Posts: 1448 | Credits: )