trying to get out of this mess
Date: Sat, 04/11/2009 - 18:13
Ok then I calmed down and realized I have no other choice. My biggest concern is cash flow. Both DH and I get direct deposit from out of state companies, its not like we can just go by the office and get our checks. If we can't get direct deposit they will have to be mailed and I can't wait for that. Things are so tight I am constantly floating checks and writing checks at the grocery store for cash to get thru the week.
The pdl took thier fees yesterday so I have 2 weeks to work with. Now I am kicking myself for not closing the account earlier this week. oh well. I live out in the country and my bank is a small regional bank, I think they have maybe 12 branches. Is it better to change banks? I could go to another bank and open up a new account Mon or Tues that way I could get the info to get DD set up before I close the other account. Or would it be better to go into my bank and talk to them about what is going on and see what they have to say? Ideally I would like for them to keep my account on deposit only until I could get the deposits changed over.
DH and I both have checks coming at the end of this week with no pdl's due and I have lots of bills to get paid. Then I am thinking the first of next week close out the account and send out the letters revoking ach.
I am dealing with:
paydayone-$500- had paid it down but just maxed it out again and have'nt made any payments yet. Will call them to make arrangements after I close my checking account.-legal?
CashDirectExpress -$400- have paid $424-illigal?
LoanPointUSA-$200- have paid $240-illigal?
PayDayMax-$370-have paid $186.99-owe-$183.01-illigal/Canada?
Sagamore-$150-have paid 0-illigal/Bahamas?
above are all internet I also have storefront for $400 but I can pay that off if I get rid of all this other junk. paydaymax and sagamore I should be able to pay what I owe within the month, if they will provide me with an address.
I am not overly worried about thier calls (although I reserve the right to change my mind later!). I just won't answer the phone. I was laid off of the job that I had when I applied a couple of months ago so they can't reach me there.
I am going to keep searching this site for info but what is the best way to proceed with closing my checking account to keep the cash flow going?
What state are you located in? Is your store front a member of t
What state are you located in? Is your store front a member of the CSFA? You can find out by calling and asking them. If they are, you would be eligible for the EPP (Extended Payment Plan), this would allow you to pay off the store front in 4 equal payments. But you must request the EPP plan BEFORE the loan is due.
By the way, you say you are registered but posted as a guest, di
By the way, you say you are registered but posted as a guest, did you forget to log in?
Sagamore 18772873428 they are also know as B & B processing.
Sagamore
18772873428 they are also know as B & B processing.
55 Frederick St
P.O. Box CB 13039
Nassau, Bahamas
Loan Point USA
1-800-351-8820 Ext: 304
1-800-351-8830 Fax
Payday max - Also known as Credit Protection Depot
Paydaymax
support (@) CreditProtectionDepot.com
CashDirectExpress
I'm unsure about this one, keep checking back perhaps someone else may have some information.
CLICK HERE to find out how to deal with illegal lenders.
CLICK HERE to find out how to deal with illegal lenders.
sorry I thought I was logged in not sure what happened with that
sorry I thought I was logged in not sure what happened with that. I am in TN I knew I forgot to post something!
CLICK HERE to view your payday loan laws. Tennessee allows an In
CLICK HERE to view your payday loan laws. Tennessee allows an Internet based payday loan company to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in.
I have been reading and reading thru this forum and have a coupl
I have been reading and reading thru this forum and have a couple of questions. I am in TN.
1. I had posted as guest in another thread "getting too deep" where someone said that LoanPointUSA was illigal but from the searching I have done it looks to me like they are licensed in UT. Is this correct?
2. So PayDayMax and Sagamore are located out of the country (Canada/Bahamas) so they are illigal for me even though I am in TN correct?
3. I am having a hard time locating info on CashDirectExpress which looks like it also DBA GECC. Using the search feature it looks like some are saying they are members in the CSFA but also use illigal lending practices, so I am confused on which is correct and how to proceed with them.
4. Still racking my brain-- to figure out the best way to deal with closing my checking account without halting my cash flow (direct deposit). I am thinking of going in and talking with my bank on maybe Tuesday and see what they can do to help me even though I don't want to close my account until next week. Does this sound like a good idea?
Quote:1. I had posted as guest in another thread "getting too de
Quote:
1. I had posted as guest in another thread "getting too deep" where someone said that LoanPointUSA was illigal but from the searching I have done it looks to me like they are licensed in UT. Is this correct? |
I did not find them in Utah database. I think they are in UT but I do not show them having a license there.
Quote:
2. So PayDayMax and Sagamore are located out of the country (Canada/Bahamas) so they are illigal for me even though I am in TN correct? |
Correct.
Quote:
3. I am having a hard time locating info on CashDirectExpress which looks like it also DBA GECC. Using the search feature it looks like some are saying they are members in the CSFA but also use illigal lending practices, so I am confused on which is correct and how to proceed with them. |
They are part of CFSA but you right that I see them do illegal things as well. GECC is Goverment Employess Credit Center and they are licensed in Delaware.
Quote:
4. Still racking my brain-- to figure out the best way to deal with closing my checking account without halting my cash flow (direct deposit). I am thinking of going in and talking with my bank on maybe Tuesday and see what they can do to help me even though I don't want to close my account until next week. Does this sound like a good idea? |
When you speak to your bank ask if they can place your account on deposit only. That way you can get your direct deposit but all ACH or paper checks won't go through. Then you can work on opening a new account, changing your direct deposit to the new account and then closing the old one.
Here I am posting again. I just don't have anyone I can talk to
Here I am posting again. I just don't have anyone I can talk to about this because I am so embarssed. I am literally sick over trying to figure out how to get from now thru next Friday (the 24th) if I close my checking account, without being able to float checks or write checks for cash at the grocery store. I have put off paying so many bills that absolutely must be paid this week. If I wait another week to close my account (and let the pdl hit again)I am fairly certain I will go into an overdrawn situation (which so far I have been able to avoid). I think the best idea is just go into my bank tomorrow and talk with them and see what they have to say. Since its a small regional bank I am thinking they will either be real helpful or not helpful at all. In which case I will go to another bank and open an account.
Okay so once I get the account closed (probably next Tuesday) I will:
1. send ach revoking leters then immediatly contact paydayone to work out a payment arrangement.
2. immediately contact CashDirectExpress for payment arrangements since they supposedly are with the CSFA. Would I mention that in my request? I will contact them before my next due date (april 24).
3.send the illigal lender letters to PayDayMax and Sagamore offering to send remainder of principal owed in money order if the mark as PIF and provide a US address?
Sounds like a good plan. When you speak to the bank make sure
Sounds like a good plan.
When you speak to the bank make sure you talk to a bank manager. Be honest and let them know you got in trouble with PDLs and you have discovered they are illegal and they continue to withdrawl money even though the loan is paid off.
I know my bank was really easy to deal with and made the whole thing smooth.
okay...here we go! I went and talked to the bank today and they
okay...here we go! I went and talked to the bank today and they were very nice and understanding. She said it happens all of the time, which I kind of suspected it did. Anyway we closed out my account and opened a new one. They will send our direct deposits and checks that are out (I had to make a list) to the new account. Only bad thing is she said it would probably take an extra day for the DD to post because it will have to be done manually, so that could cause a small problem, plus I don't have any checks now just a few starter checks so in a way I wish I would have waited until Thursday to do this (after DD hits) but I am also glad to have it out of the way because I was literally making myself sick about it. She assured me the pdl's will not be able to get to my new account.
I have a bit of time as they won't hit until next Friday. The middle of next week I will probably send out the ach revoke letters plus ask CashDirectExpress for a Epp and PayDayOne for a payments plan so will see what happenes then, but at least my money should be safe now.
That sounds great. Do not be surprised if the legal lenders w
That sounds great.
Do not be surprised if the legal lenders won't work with you until after they can't get the ACH though. That is not uncommon. Once they can't get their money they are pretty decent to work with on payment arrangments.
okay thanks for the heads up. I think I had read about that with
okay thanks for the heads up. I think I had read about that with PayDayOne. CashDirectExpress (GECC) is listed as licensed and a member of CSFA, although from reading here it looks like they do illegal lending. so according to the terms of CSFA the EPP needs to be requested before I default so I was going to throw it out there but from what I have read about them here I will be shocked if they allow me to do it. I am going to be researching how to write my letters over the next couple of days.
I would demand they do it. As a member of CSFA they are suppose
I would demand they do it. As a member of CSFA they are suppose to.
But yeah, I have seem them do illegal stuff to so I will keep my fingers crossed.
updating...I have sent out emails to everyone except PayDayOne w
updating...I have sent out emails to everyone except PayDayOne who isn't due until next week so I will deal with them then. 2 illegals and then 2 legal requesting payment plans. I have'nt heard a peep from anyone. I don't know why this surprised me, but I was expecting within minutes of getting the email they would all be calling and emailing, but thier ach's have'nt been refused by the bank yet.
Interestingly while I was searching thru PayDayMax website for an email address (never found one so sent it to CreditProtectionDepot) it says they operate under the laws of Granada, although its been posted here that they are located in Canada.
You won't hear anything from them until the ACH is denied. No
You won't hear anything from them until the ACH is denied.
Not sure on Payday Max. My info on them is on another computer. I don't remember what address I have for them.
Either way, they are illegal.
updating my situation again... PayDayOne-agreed to stop ACH,
updating my situation again...
PayDayOne-agreed to stop ACH, gave me alternative ways to pay but would not agree to a payment arrangement yet, I am not yet past due on this one. Will contact them again next week.
CashDirectExpress-agreed to stop ACH and work with me on a paymentplan, details not finalized yet.
LoanPointUSA-Has refused in writing to stop ACH even though they know my account is closed. I had another thread on this. Told me the only form of payment they would accept is thru ACH so I'd better open up another checking account and they don't do payment plans. I guess they don't want thier money too bad. I've already overpaid them anyway, so they are going on the back burner for now.
PayDayMax-has sent thier typical threatening email each day. Has called once (I googled the number) but did'nt leave a message.
Sagamore-is the only one I have heard nothing from. Although I am sure they got thier email cause I sent it too the same address I send to when I want a loan and they always call within 30 seconds of me hitting the send button.
I have found lots of other threads of people having the same problems with loanpointusa but unfortunately they are not updated with any type of resolution, so not sure what ever happened. I am going to continue doing my research on them.
I have been very stressed the last couple of weeks not over the pdl's but all of the other bills. I was getting further behind that I originally thought. Plus the whole mess of having to change bank accounts, not having any checks and direct deposit getting messed up caused me to rack up over $200 in overdraft fees last week and get my new account almost $500 overdrawn which is the last thing I need right now. So this week check has to be mailed to me. They are supposed to mail it on today so hopefully it will be here Friday, it has to come almost across the country if not I will go into another overdraft situation. After this hopefully I can get back on track with things.I have had to take2-3 hours off of work almost everyday for the past 2 weeks dealing with bills and phone calls and beggin for more time, driving to the bank etc so my next check will be about 1/3 less. I've been in a perpetul state of panic attack fast heartbeat, tight chest, nausea etc. Not over the pdl's but the carnage they have left behind.
Good News-paid off my husbands store front loan so everything left is only in my name. I have $500 left in store front-hope to have half of that paid off by the end of May.
You are making progress and that is a good thing. Keep you chin
You are making progress and that is a good thing. Keep you chin up. You will be out of it all before you know it.
Good progress resqume1. PayDaymax will send you to their collect
Good progress resqume1. PayDaymax will send you to their collections dept (Credit Protection Depot). Just stick to your guns and continue on with your proposal.
Loin Point are jerks and will give you hell for awhile. I have seen in some cases where they sent a release form via email which basically cancelled the loan but for your silence on the matter.
updating again...all is amazingly quiet. I keep waiting any seco
updating again...all is amazingly quiet. I keep waiting any second for the other shoe to drop. CreditProtectionDepot has called a few times but I have never been "available" to answer thier call and surprisingly they have never left a message on voicemail. PayDayMax has sent me emails offering me more money. I guess they are hoping I will mess up and give them new account information. I have'nt heard from anyone else.
My finances are really in a mess from all of this. Starting today I am getting back to work my regular schedule and hope to get in a little OT this week. I am so tired of thinking about bills and money all of the time!