Help/Advice with upfrontcash.com
Date: Wed, 04/15/2009 - 12:22
Information:
1) Loan is from upfrontcash.com. As far as I know they are an internet company. I have another loan with a storefront company for $435.00 loan with a $65.00 finance fee every two weeks but I don't have any problems with them. This is just about upfrontcash.com.
2) The original amount of the loan was $400.00 with a $520.00 repay which you can rollover for $120.00. Payment is made every two weeks.
3) I have made one payment so far of $120.00 rolling over my $400.00 loan so this Friday I will owe $120.00 again (they do have other payment options - rollover, pay off loan in full, or pay rollover fee + more).
4) I live in Kentucky. Here is the PDL Consumer Info:
Okay, I have made one payment so far and I am scheduled to make another every two weeks. Heres the thing though: I called last time three days before my payment was due (which they said you could) and told them I wanted to pay the full amount with my prepaid debit card and not my bank account. They said okay, and that they would call me on the due date so I could pay over the phone.
They never called, so later in the day I called them and told them I decided to just pay the rollover ($120.00) and made the payment, which cleared my pre-paid debit card immediately. A few days later I received a letter from my bank saying that they had tried to do two debits (one for $400.00, one for $120.00), both of which bounced, and also an email from them saying I didn't pay.
My bank account was already in the negative so the two debits they tried to do just bounced but I did get charged $30.00 each ($60.00 total) for nothing. This kind of threw me into a frenzy, as it made me think the person I talked to just scammed me out of my pre-paid debit card info. I called that company however and it turns out the payment did go to upfrontcash.com. It seems like the people at upfrontcash.com just got CONFUSED.
I just want to get out of this, especially since I assume they are going to keep screwing`this up every two weeks. I do plan on getting the bank account back in good standing when I get my income tax but until then I can't really afford to do anything, nor can I close the account.
I am willing to let the bank account charges go, but I was just wondering how much do I still owe upfrontcash.com, how do I let them know that (I saw the form letter and I also read about how to tell my bank not to allow ANY debits just deposit), and can I keep them from calling my work?
The last thing I is most important...I work a crap job and them calling everyday will get me yelled at and possibly fired sooner or later.
Should I just pay them the $520.00 this Friday via my pre-paid debit card, make sure they got the payment, and just move on? I am afraid this will create a cycle of me having to go back to them or somewhere else, as I don't know if I can afford it or not. :(
Help me out guys, and thanks. I will check back in later tonight to see if there has been any replies.
Internet loans are illegal in KY. From here. [quote]What is
Internet loans are illegal in KY. From here.
[quote]What is a payday loan?
A payday loan, also called a deferred deposit, is issued when a financial institution (a payday lender or check casher) agrees to provide cash in the amount of the customer???s next expected payroll check for a fee. These short-term loans are required by state law to be paid in full before another one can be issued, and customers may only have one payday loan at a time. Internet payday lenders are not regulated in the state of Kentucky and are therefore illegal.[/quote]
You only owe what you borrowed and not a penny more.
All fees or rollover charges you have paid go towards that amount.
Hi, thank you for your reply! My next payment is due this Frida
Hi, thank you for your reply! My next payment is due this Friday (tomorrow), so heres what I think I should do:
1)Call my bank and block all debits on my account. I am going to explain to them and tell them there is no reason there should be any debits coming out until I bring the account back into the positive. I am going to close it when it becomes positive, however. :)
2)Get the form letter, tailor it to my needs, and mail it to their physical address with delivery confirmation and signature confirmation. The letter will tell them I only owe $280.00 on my $400.00 loan, since I already paid $120.00.
I do have a question though, should I go ahead and send the $280.00 postal money order with my letter or should I wait until I get a response from them?
Thanks so much for your help!
Wait until you get a response. They may claim the never got the
Wait until you get a response. They may claim the never got the $280.
I would make sure you get a settlement in writing before sending them anything.
Thanks for your help; I am going to start working on this. I wi
Thanks for your help; I am going to start working on this. I will try to let everyone know how it goes.