PLEASE HELP - PayPay Loan Info for MA
Date: Sun, 03/22/2009 - 15:50
I am new here but have been "perusing" this board for some time now. I have learned things I did not know and found to be extremely helpful. I "stumbled" upon this board when looking for information on payday loans.
Our situation is as follows. We are in Massachusetts and from my understanding I found out by "reading" this board that PayDay loans are illegal/prohibited in this state.
We took these out because of unemployment (3 times in 8 years for a total of 2 1/2 years) to help with rent, prescriptions, food, bills, you name it. As I'm sure some of you know, the longer unemployment goes on, the harder it is to "catch-up".
Now the loans are killing us. Our bank account is always in the "red" and we're hit with hundreds of dollars in NSF fees and things are being "bounced". Now because of these "loans", we're having trouble paying for everything and my husband (once again) is unemployed. We're to the point where we're not taking our medications and going to doctor appointments because of this, among other things. We both have several illnesses. My husband suffers from PTSD and is Type 2 Diabetic. Myself, I am Type 1 (insulin dependant) Diabetic and suffer from depression as well as other things.
We have 4 of these "loans":
Geneva Roth/Loan Point: Orig. loan, $500 - Paid, $1,500
Dollar Quick: Orig. loan, $650 - Paid over $1,200
My Cash Now: Orig. loan, $640 - Paid $872.67
United Cash Loans: Orig. loan, $300 - Paid $830
As you can see, they've been paid back the original loan and then some. We'd love to get some of this money back but if nothing else we NEED for them to stop being able to debit our account.
From my understanding the first thing we need to do is close our bank account and put a "hard block" on it (so to speak) against any further debits. Our bank is Sovereign, does anyone know if they will comply ?
I'm not sure of the order of the other things. Please let me know if this correct or if the order should be changed.
File complaints with the MA Attorney General's office, the FTC and the BBB.
Send "cease and desist" letters to the loan companies via email (I do not have physical addresses for them).
Contact my husband's former employer to block all "wage assessments" (not sure if I got the terminology right on that one). He got a small "severance package" and is still being paid by them.
Sorry this is so long. I just want to make sure I do this right.
Any response and encouragement is greatly appreciated. We will be going to the bank tomorrow morning and I am VERY nervous about this.
Thank you all very much.
Yes, you are correct, pdl's are prohibited in MA. CLICK HERE to
Yes, you are correct, pdl's are prohibited in MA. CLICK HERE to view your payday loan laws. CLICK HERE to find out how to deal with illegal lenders.
These are the only addresses I have. Geneva Roth Ventures Fax
These are the only addresses I have.
Geneva Roth Ventures Fax #
(913)825-1200 Ext. 225 - Main
(913)825-1208- Fax
Geneva Roth Ventures Inc
1923 Foxridge Dr
Kansas City, KS 66106
Local (913) 825-1200
GRC (Geneva Roth Corp)
1-800-351-8820 Phone Number
MyCashNow.Com Inc. (Illegal)
Grand Anse, St. George's
Milwaukee, WI 53214
Telephone: (866) 398-2274
support(at)mycashnow.com
1-866-645-1662 and 1-866-318-2274
United Cash Loans
3531 P Street NW
Miami, OK 74355
Telephone:800-230-9480
Thank you for the response and the addresses. Should I email the
Thank you for the response and the addresses. Should I email these "people" or send letters via regular mail ?
Is there anything else I need to do besides what I put in my initial post ?
I forgot to mention all of these loans were acquired over the internet, not from "storefronts".
If they're illegal, do they have any legal recourse against us ?
Should I call these numbers that were mentioned in other posts in regard to the debits: Intercept EFT, 800-378-3328 and ACH Commerce, 423-238-5184 ?
My husband would like to know if we are considered "complicit" (sp?) because the loans are illegal and we took them out. I told him "no", because we did not know they are illegal, am I correct ?
Again, thank you very much !
No, the only thing they will do is send you to a bottom feeder c
No, the only thing they will do is send you to a bottom feeder collection agency that will call you all the time. But when you send the letters make sure you send the cert. mail with return reciept requested. It cost about $5 but you will get the green card as proof that they got the letter.
So, they will send us to a collection agency even though they're
So, they will send us to a collection agency even though they're illegal and they've received back what we originally borrowed and then some ?
Sorry, I just figured out how to join. I'm the original "poster"
Sorry, I just figured out how to join. I'm the original "poster" of this thread.
In most cases they send it to a collection agency that is also p
In most cases they send it to a collection agency that is also practicing illegally as they have no license in your state.
Sometimes they do the collection themselves and pretend they are CA. They sill try all sorts of illegal tactics.
Illegally operating PDL's will use unlicensed collection agencie
Illegally operating PDL's will use unlicensed collection agencies but sometimes they will use a company licensed to collect in your state. If that happens just inform them that they are attempting to collect on an illegal debt/unlicensed pdl and in my experience they have been receptive and have stopped collection activity.
