PDL Help Needed Badly
Date: Mon, 01/26/2009 - 17:46
Can someone please tell me how I can go about getting the ACH debits stopped and setting up payment arrangements with each of the 10 lenders.
My PDL information is below
I currently reside in the state of Delaware
CashDirect Express
Internet Operation
Original Loan amt $506.00
Paid so far - 4 Biweekly finance charges @ $106.00 ea.
The Cashpot
Internet Operation
Original Loan amt $375.00
Paid so far - 4 Biweekly finance charges @ $75.00 ea.
Integrity Advance
Internet Operation
Original Loan amt $390.00
Paid so far - 4 Biweekly finance charges @ $90.00 ea.
US Fast Cash
Internet Operation
Original Loan amt $520.00
Paid so far - 4 Biweekly finance charges @ $120.00 ea
Eastside Lenders
Internet Operation
Original Loan amt $390.00
Paid so far - 3 Biweekly finance charges @ $90.00 ea.
500 FashCast
Internet Operation
Original Loan amt $400.00
Paid so far - 4 Biweekly finance charges @ $75.00 ea. & $100.00 on Principal balance
CashNet USA
Internet Operation
Original Loan amt $625.00
Paid so far – 2 Biweekly finance charges @ $125.00 ea.
LoanPoint USA
Internet Operation
Original Loan amt $650.00
Paid so far – 0 – first finance charge payment of $150.00 is due on Jan 31
Discount Advances
Internet Operation
Original Loan amt $369.38
Paid so far – 0 – first finance charge payment of 69.38 is due on Jan 31
Together Cash
Internet Operation
Original Loan amt $390.00
Paid so far – 0 – first finance charge payment of $90.00 is due on Jan 31
PDL Help Needed Badly
My apologies. I hit the submitt butoon on my email with entering my user name.
I am doing some checking but to be honest I am not familiar with
I am doing some checking but to be honest I am not familiar with the laws of DE.
Hopefully someone can come through that does know more.
It does look like Deleware requires the lender to be licensed in
It does look like Deleware requires the lender to be licensed in the state so I am going to see if I can find any of these companies on their database.
Okay first off the laws of your state. Quote:Delaware State I
Okay first off the laws of your state.
Quote:
Delaware State Information Legal Status: Permitted under small loan act or licensing law - Legal Citation: Del. Code Ann. Tit. 5 ?? 2227 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: Max: 60 days Maximum Finance Rate and Fees: Not Specified Finance Charge for 14-day $100 loan: No Limit apr for 14-day $100 loan: No Limit Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified ($1000 aggregate loans outstanding to all licensees) Rollovers Permitted: Four (rollovers) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: Criminal Action: Where to Complain, Get Information: Regulator: Delaware Office of the State Bank Commissioner Address: 555 E. Loockerman Street Suite 210 Dover DE 19901 Phone: (302) 739-4235 Fax: (302) 739-3609 Regulatory Contact: , Administrator, Non-Depository Institutions and Compliance |
The companies that loaned you over $500 are operating illegally.
Cash Pot appears unlicensed. I could find nothing under the license database. Do they maybe have another name? I can't seem to find them anywhere. Not even on google.
Integrity Advance is legal. They do have a license in DE.
Eastside Lender does not appear to have a license. Illegal.
500 FastCash does not appear to have a license. Illegal.
Discount Advances does not appear to have a license. Illegal.
Together Case does not appear to have a license. Illegal.
Thanks for the information. The cash pot also uses the name A
Thanks for the information.
The cash pot also uses the name American Consumer Credit, LLC.
Now that I now the standing for each of these companies what is my next step? I would like to have revoke my ACH aurhorization and enter into a payment agreement.
They have started calling me at work which is not good for me. I want to get something to them in writing before they call any of the reference I put on my applications.
Any suggestiions on how I should proceed would be much appreciated
First you need to secure your bank account. You can try and put
First you need to secure your bank account. You can try and put ACH blocks on them but the best thing to do with that many PDLs is to close the account.
If you do close it make sure that 1.) That a ACH won't open it again and leave you with a bunch of NSF fees and 2.) If you open another that it is seperate and they won't transfer any ACH debits to your new account.
You will need to speak to the bank manager.
You can send them a letter stating they are illegal and that you are only willing to pay the principal.
Here is a template you can use. You need to change it for your information, state laws and loan info.
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 can send this by fax, email or certified USPS. Some do it all way, I only emailed mine.
Make sure you account is secure BEFORE you send these letters. If you don't they will try to debit your account for the entire loan amount and before the due dates.
I would like to make a suggestion. If you opt to fax these lette
I would like to make a suggestion. If you opt to fax these letters to any of these lenders please do NOT use your employers fax service, the reasons are obvious but some people are in such distress at the time, they don't consider the consequences.
Shazzers is right. You should use a Kinkos to do the faxing. A
Shazzers is right. You should use a Kinkos to do the faxing. A lot of pdls will fax letters and loan documents to your employers to try to embarrass you into paying.
Some of the lenders on your list are known to back off when someone stands up to them, but others are real tire-biters. You need to be prepared to make good on the threat. I don't have the links, but I believe there are some good templates on the boards for complaining to regulators. Hopefully someone else will come along to show you exctly where to look.
Great advice Shazzers. I would not have thought of that. I do
Great advice Shazzers. I would not have thought of that.
I do not show a license for The Cash Spot aka American Consumer Credit on the license database so I am going to go with that they are illegal as well.
payday loans in Washington DC
Hi I have been reading the posts on payday loans and I have not seen any information on Washington, DC. I have payday loans with, United Cash Loan, Ameri Loan, 500 Fast Cash, Payco, GFS (General Financial Services), Sonic Payday, Bahamas Marketing, Group and Loanshop. My question is are there any debt programs for assisting with paying off loans. I'm really going deep debt with these companies. I'm sorry I ever got involved with them. I need help fast so any assistance would be greatly appreciated. I have thought about closing my bank account and opening one with another bank, but I'm too afraid of getting the harrassing phones calls. What should I do.
PDLs are illegal in DC. Quote:D.C State Information Legal
PDLs are illegal in DC.
Quote:
D.C State Information Legal Status: Prohibited Citation: Amended D.C. Code Ann. ?? 28-3301(a) Small Loan Rate Cap 24% per year Where to Complain, Get Information: Regulator: D. C. Department of Insurance, Securities and Banking Address: 810 First Street, NE Suite 701 Washington DC 20002 Phone: (202) 727-8000 Fax: 202-535-1194 |
You need to send a letter to each of these PDLs and tell them th
You need to send a letter to each of these PDLs and tell them they are illegal.
Can you tell us what the intial loan was for and how much you have paid back.
Even if you only paid a "rollover" fee, that counts as payment towards the principle on illegal loans.
International Payment Services/1000Cashovernight
I took a loan out from 1000Cashovernight for $300.00, i've paid well over a $1000.00 for a $300.00 loan..I recently went on 1000Cashovernight website to check the status of the loan..it says your loan has been paid off, but when I went to my account it show that $50.00 was debited from my account...what should I do to prevent this from continuing on..