Helpful Info. About PayDay One/Question about Payday Loan Yes
Date: Fri, 01/23/2009 - 20:32
I just wanted to pass along a little bit of helpful info. regarding PayDay One. I have had a loan with them for 3 months. I called and asked for a payment plan to pay the loan in full, but was told I would either have to make 2 more interest payments or let the loan default. I told them I didn't want to default, just set up payments but was told that was their policy.
The next day I sent an email revoking my ACH authorization and making an offer to pay the loan in full with 5 payments and stated the amount of my current principal balance plus the interest up to that date. That was yesterday, today I received an email stating that they would no longer make ACH debits and that my payment arrangement had been accepted. With no further interest or fees, they set the payments up for the next 5 months (I am paid monthly) on my pay date.
Thought this might be helpful for anyone dealing with them and wanted to pass it along.
As a side note, does anyone have any information on the way to deal with Payday Loan Yes? I got a loan through a sister company I guess, called ABC Payday loan. When I call the number on that site it says Payday Loan Yes and I have been trying for two months to get in touch with them to pay my loan in full. I have yet to speak with a live person-when I enter my SS# as it requests, it keeps saying that it is not recognized, then it will disconnect. When I go to the ABC Payday Loan site, I can login and it says I have a loan, but when I click to make arrangements, it gives me the same number to call. I have emailed 3 times to the customer service rep who sent my paperwork and to their customer service email address and all I have gotten is a screen shot of their 3 options for payment.
Any suggestions? They are not due to pull again from my account until the 30th. In the email, I revoked ACH all 3 times and stated that I am trying to reach them to settle the account in full, but they cannot seem to understand.
Thanks for the help!
Since they are an illegal lender (PayLoan Yes) I rather doubt th
Since they are an illegal lender (PayLoan Yes) I rather doubt that there will be any reasoning with them. Your best course of action would be to close out your account, as revoking ACH simply won't do any good, they will just change their name and debit your account again and again. I know this isn't what you wanted to hear but it really is the only way you can be assured they won't debit your account. After your account is closed, you may then be able to make some type of payment arrangements with them, although they won't be willing to negotiate most likely, and will demand far more than you actually owe them. I am going to post some information on how to handle illegal lenders. I hope it will be helpful. :)
