Update and and one more question (re Payday One)

I should also mention that I am in TN, so the Delaware laws of where Payday One are based apply.

I have delt with PayDay One and I have to say they do have one of the nicest customer service centers I have ever delt with.

I tried to contact them via email to make arrangements weeks before my loan was due and they just would not work with me. At first they offered a payment plan but then withdrew it when they realized I was in Ohio and our payday laws had just changed. It was BS really but they claimed they could not work with me. The CS lady I spoke to I think felt bad for me. She had made the payment offer and then had to withdraw it. I told her I was trying to put the horse in front of the cart and be pro-active but it did not matter.

I then blocked their ACH transaction at my bank and then sent them the ACH/Wage assigment revoke letter via email.

Once they got the letter they basically said they could not stop the ACH transaction and until I defaulted would not help me.

So of course it was blocked at the bank and then they contacted me back via email. I tried to make arrangments several times and they were nice but they would not agree to my terms. I could not make the first payment when they wanted and not as much as they wanted. I went back in forth several times with one CS rep. I finally just said that I could not do what they wanted so I would start sending in money orders to the address I stated. I never heard from them again. :shock:

At this point I have started to save up the money myself so I can pay them in full. They have not contacted me again, which is kind of scary, but I should have all the money soon to pay them in full. I plan to just call their customer service and make the payment using a prepaid Visa.

Some PDLs just won't work with you until their ACH withdrawls are blocked. Can you go into your bank and request a stop payment. They may charge a fee. If they need to know the ACH processor they can get that from the previous withdrawls. Make sure you speak the branch manager. Mine was very helpful.

Good Luck and keep us posted.

Thanks for all the info! That really helps. I will go back to the bank again today. They have told me that I can stop an ACH payment on the account that is still open (Payday One are the only ones who had that account #), but that they need to know the amount. Seems strange that they cant just block all ACHs from Payday One but I will see what they say today and try to talk to the manager. I am faxing an ACH revocation to PDOne too.

I do have one more question - did they continue to charge interest after the loan was considered defaulted? Each loan is for $650 and I was going to offer them $75 a month on each loan but I am guessing that will be too little for them.

Thanks again!

As far as I know they did not add on any interest. They did tack on a $20 returned ACH Fee. Seems like your state has a $30 fee.

If your state is like mine then you paid off the loan and kept re-loaning. You did not do rollovers so I don't think they can keep charging interest. You owe the amount borrowed, the interest and then an additional $30 for a returned ACH.

I wish it was, but unfortunately TN does not regulate internet payday lenders so the laws where the company are based apply, in this case, Delaware I guess who seem to have the least laws of any state! What I had been doing was 4 rollovers, and then paying it off and re-borrowing on the same day. At this point we are on 2 of 4 rollovers.

But get this, they emailed me back this morning saying sorry you are in hard times blah blah. Since my account is not currently in default they suggest we try to pay the minimum amount and if not call them after its defaulted. Then, I get an email saying thank you for your payment!!!! I was shocked and then I read it and then had gone ahead and scheduled a minimum payment for Jan 19 without my authorization! Usually when I pay the fees only (which is what they had done here), I have to sign an online agreement. So I immediately wrote back and told them the ACH authorization was revoked.

So, I guess I will just have to wait and see if they continue to charge interest. Ugh. Thats my main concern at this point I guess. The thought of having even more added to the thousands they have already got from us though our own stupidity makes me want to vomit. :( I sure wish I had found this site a long time ago! Thanks guys - this is our glimmer of hope right now!!! Each time I read more posts I realize that just maybe 6 months from now we will be able to not worry if there is money left over after paying these vultures for necessities and buy things for the kids :) After almost 2 yrs of misery that would be nice!

I just sent a e-mail to pay Day one hoping for a PIF to be marked on my acct. I have paid over 2300 and received less than 1200 from them overall. Hopefully I will have luck.

Good luck, let us know how it turns out :)

I have yet another question (sorry!). I got back from the bank. They said they can only stop an ACH if they know the exact amount. Is this what other people have been told also? I talked to the manager and he said there is nothing he can do if the ACH comes through for something other than I have said. It's $32.00 for each stop ACH - he suggested it was a waste of money if I didnt know what they would try to take out at any point in the future. Closing this account is such a nightmare and cant be done before they would debit it anyway, because checks that are still pending and I cannot have those bounce. I asked again about ACH block and he said there was no such thing at this bank.

I used Payday One before and didn't have any problems. Good Luck!

Did you have luck negotiating with payday one?

I have heard that some do require the exact amount. Mine did not but I have a credit union so I am not sure if that makes a difference.

I think it is more due to some bank software that requires the ACH block be very specific.

I have not heard of PayDay One changing amounts but I think what might happen is they try for the normal amount they would withdrawl and then if the get a block then they may go for the full amount of the loan.

I really don't know what to tell you from here. Hopefully someone else will come along with more info.

Yes, I experienced that as well with the bank and I asked the girl what can I do. She put a hard debit block on my account. The reason they need to know the amount is because thats what the system will be looking for when the ACH comes through. It only recognizes the amount of the debit, not the company it is coming from. Try calling the bank manager and ask him if this is possible. He will tell you that this block will affect your outstanding checks as well but I was able to get the bank to verify with me when a check comes through if I wanted it posted to my account. Eventually I was able to just close that account completely.

Maybe you can transfer all your money to a new account and any of your outstanding checks that come through they can post them to the new account. Sorry, I'm just throwing ideas out there for you to ask. I know that just putting a stop payment will not work for what you are trying to accomplish.

Lesley,

I understand your plight in not wanting to close your account because of all the other things you have tied to it but honestly, closing the account is probably your best recourse. Is it because you have automatic deposits/withdraws from other companies? I work at a bank and it is possible to switch accounts with little heartache. :)

Thanks again :) I will ask for the hard block just until the checks go through and then I will close the account. That is the only reason I dont want to close it this week - I have paid checks to people who rely on them being good and dont want to let them down or cause them any hassle. If they wont do the hard block I will just stop payment on the minimum payment AND the full amount of the loan. It will still be cheaper in the long run.

Just be careful with those stop payments because they could put the amount through for ANY amount, not just the minimum amount or the full amount plus interest. They will keep sending ACH's until they succeed. No matter what the amount is.

Well, since my last post I went back to the bank and this time talked to someone new, who got the security manager on the phone and talked to someone else who is over all the managers (just goes to show, sometimes you just need to find someone WILLING to help you). The head lady explained that they have (they think) a new way to stopping all ACH transactions from a particular named company, but that they had not tried it on any of their customers yet (I bank with a small, local bank) and did I want to be the first to try it lol. Of course I agreed since she assured me if it didnt work she would go in and reverse the ACH if it goes through. So they blocked Payday One and Payday Max and even waived one of the fees.

Aside from that, I emailed Payday One AGAIN after I got an email saying my payment was due tomorrow and since I hadnt logged on they would take $50 of principal plus the fees. I didnt log on because I knew I would be renewing the ACH authorization if I did so. I emailed them back and said authorization was revoked and I was waiting to hear on a repayment plan. Twenty minutes later, I get (same as they did on the other loan) an email saying thank you for scheduling your payment. The email said I granted a payment of $211.26 ($50 Princpal plus fees) and instead of tomorrow as the due date - it had a week from tomorrow instead. Do you think this is their idea of a repayment plan or do I have to default on this first do you think?

Ugh. I have called but am told the same thing - you havent defaulted so we cant talk to you about repayment plans. Officially, after tomorrow I have defaulted but for some reason they have put my payment date back by a week it seems.

Anyway sorry for rambling, I just find them confusing. I'm going to post separately as to what I think might be some new info I have discovered on Payday Max for anyone who has a loan with them.

Thanks for the "ear" everyone!

Well I am happy to hear your bank is going to help or at least attempt to help.

I think you are just going to have to wait and default. Hopefully what the bank puts in place will stop the transaction and it will finally force them to listen to you.

Good luck with the ACH block. At least there is no risk in trying it.

Go forward and default my child :lol: (I know it is not funny but sometimes you just have to shake your head and laugh :wink: )

It seems it is the only way they will work with anyone anyway.

Loan Shop Online is demonic. I have a loan with them. I called to stop the payment from going through my account and the lady told me I can't because it has to go through 3 more times before they can do something. This company is out to get your money and they will say that they are legal. They are criminals robbing people blind.

They will robb you of your account. Do not let them have any of your pesronal information.