NEED HELP IN PENNSYLVANIA!
Date: Fri, 01/16/2009 - 06:35
Submitted by angela.jablonski
on
Fri, 01/16/2009 - 06:35
Total Replies: 5
First off - I need to say that I am SO happy that I found this site. It helped me realize I am not alone and can fight this.
Recently, I was forced to take 4 payday loans in an emergency. I think these places that rely on the desperate are SICK! Because they took out more than their "Contracts" made it seem they would, and hit me with fees, I fell behind on REAL bills, and needed to close my account. I have the right to be in control, and these places have taken enough money. I set up a new acct, and my advisor at the same bank ensured me they could not get to my new acct, nor could they charge my bank fees for the old one. What is the next step?
I have loans from:
500 fastcash - $300, paid $180
US fastcash - $300, paid $180
Upfrontmoney - $200, paid $180
Biggest-cash payday loans - $300, paid $90
I need to know what the law requires me to pay for each. I will pay that and nothing more.
Are 500fastcash and USfastcash still illegal? If so, I'll pay them just the principal? Are any of the others illegal? I am in PA.
Also, can I get a letter to send to these places now to set something up? I will only send them a money order on my terms WHEN I CAN, after they took more than enough money from me in one month. Is it bad to make them wait a month until you have the money? I need to get caught up and ahead on the bills that actually matter for me, my future, and my credit.
Thanks. I am SO scared. Is this going to ruin my credit for the rest of my life now? Also, how do I stop phone calls at work, and can they go straight to my paycheck? I really don't want to bring this mess into my office - so embaressing :(
From what I understand of the PA law is that although PDLs are i
From what I understand of the PA law is that although PDLs are illegal in the state of PA that internet lenders can loan to residents of PA if they are licensed in the state the PDL resides in.
500FastCash and USFastCash are illegal as they do not have a license in any US state. You would only owe them the principle on the loans.
I am not sure about the other two. I am sure someone will come along that does know something. You can try searching in the search box on the top right of the page to see if there are other threads about them.
In the meantime here is a template that can be sent to the illegal PDLs. You will need to tailor it to you state and our loan 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 |
Since you have already closed your account you can send them out ASAP. You can email, send certified USPS or fax. Some do it all three ways. I only emailed mine.
The revokation of any wage assignements are covered in the template so they can not go straight after your paycheck.
What some people do is explain to their boss/co-workers is that there was fraud on your bank account and you have closed the account and the bank is dealing with them but that they are trying to contact you at work over an illegal loan.
I believe that upfront is illegal as well, they try to tell you
I believe that upfront is illegal as well, they try to tell you that they aren't a pdl because they offer some type of phone card, but they are.
I can't find anything on Biggest Cash...
Thank both of you so much for your help and not judging me.
Thank both of you so much for your help and not judging me.
I will send this email to USFastCash and 500FastCash now to set up paying the rest of the principle.
I can't email it to upfront because I don't have an email. I swear, they never sent anything for me to sign besides when I did the application. So I never got a promissory note!!
I suppose that biggest-cash and upfrontmoney will call though soon, and when they do I will request an email and not accept phone calls because they can't be traced.
Thanks for this so far!! Hopefully someone will post soon regarding the other 2.
I'm so upset over this mess. And it put me in a situation to not pay my student loans which are now behind, and will take me a month to get caught back up on!! Once I'm there, I'll pay these scoundrels off!
I received a response only so far from US Fast Cash. Of course,
I received a response only so far from US Fast Cash. Of course, they don't mention that I emailed them Friday to say that can't try my bank acct anything. I responded with an email saying about that and copied and pasted the e-mail which I said I already sent them...
Here's their email they sent with no acknowledgement of my previous one:
USFastCash regrets to inform you that our ACH debit was not honored by your bank, and was returned marked ???for review???. As a courtesy to you, our valued customer, we are extending an opportunity to amend this oversight.
Your account with USFastCash remains delinquent. We have previously notified you of this situation, with no positive results. Please contact us immediately to make payment arrangements. For any correspondence, please use the following code: EM501
If you have any questions or concerns, or would like to discuss payment arrangements, please contact a customer service representative at 1-800-636-9460.
Surely, your continued good credit standing with our company is important to you. Prompt payment of your account may enable you to once again take advantage of our short-term loan program.
Thank you for your prompt attention to this matter.
Sincerely,
Customer Service
Also, so far it seems like 500FASTCASH, USFASTCASH, and BIGGEST_CASH are illegal. What about UpFRONTMONEY?? No place has really contacted me yet, and I've already said I'll only pay principle to each if they are all illegal....
Just stick to your guns. Do not call them. Make sure all contact
Just stick to your guns. Do not call them. Make sure all contact is via email or USPS.
Make sure you tell them again you are only paying the principle borrowed. If you can pay it all at once then get a prepaid debit card and pay it that way or mail in a money order.
Do not give them any account information if you have a new one.
UpFRONTMONEY is a scam. They pretend to deal in phone cards to get around the PDL laws.
Treat them as illegal.
As long as your account is closed or secure then you are doing fine.