Help with 7 PDLs in New Jersey

Small Loan Rate Cap

Quote:

[quote=kfstaff24]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]

Internet payday lenders are not legal in N.J., either because of restrictive laws, or because the state does not license companies not located in that state, but requires a state issued license to lend.

you never mentioned the total debited by each.remember these are not legal loans.anything debited that they call fees goes toward the loans.for example:you borrowed 300.00 from BMG.they took 425.00 in so-called fees.then this loan is paid off for all intents and purposes.the same goes for all your pdl's.please look back into how much each of these debited total.that would lessen the amount owed on each.

I would to thank you all for your help. I will bebe getting the emails ready to send out to them.

I haven't paid that much on them yet. This all in fees

UpFront 400.00 Piad $120.00
UpFront 400.00 Piad $120.00
BMG 300.00 Piad $90.00
Pay Check 250.00 Piad $180.00 Plus $50.00 on the loan
Integraty 300.00 Piad $180.00
Biggest 300.00 Piad $120.00
One Click 300.00 Piad $120.00

I already got a new account. I have to wait for one more check to clear and I will be closing my account. My old account is on hold. My bank didn't give me a hard time. They are more then happy to help me anyway they can.

I stoped my Direct Deposit from work today. That was easy.

It sounds like you are on your way. Good luck.