Please help in MI
Date: Thu, 04/16/2009 - 18:19
Submitted by alrightalrightalright
on
Thu, 04/16/2009 - 18:19
Total Replies: 10
(all online)
Check-n-Go: loan amt - $575, owe $648.70, due in full (2nd loan)
CashNetUSA: loan amt - $200, owe $229.45, due in full (3rd loan)
EZPaydayCash: loan amt - $400, owe $520, paid $240 so far ($120x2)
LoanPointUSA: loan amt - $600, owe $780, paid $360 so far ($180x2)
These are all due on the 28th of this month, so that means I will owe a minimum of $1,178, and that's my entire check. I realize I did this to myself, but my dog would have died, and I had no where to turn. But now I keep reloaning just to stay afloat and I don't know how to get out of it. Please help!!!
Check n Go is legal. I would contact them and request and EPP, e
Check n Go is legal. I would contact them and request and EPP, extended payment plan. They can spread the loan over four payments for four paydays.
CashNetUSA is also legal but they sometimes will not work out payment arrangments until you default.
I did find EZPaydayCash or LoanPointUSA in the MI database.
My best advice is to close your account.
After it is closed pay the EPP with a Visa prepaid card and also contact CashNet USA and make arrangments, again paying with a prepaid card.
The other two I am going to say are unlicensed/illegal.
You can go here and read up in the steps to take when dealing with illegal lenders.
You only owe them the amount you borrowed.
Thank you for your response. I did contact ChecknGo about an EP
Thank you for your response. I did contact ChecknGo about an EPP, and they said they won't do it unless I've had 7 loans. The rep was very rude and said if the funds were not available on my due date then I would be sent to collections.
I'll be closing my account soon, but will closing it prevent all ACH's from going through?
Call ChecknGo Corp Office and report this immediately. If they
Call ChecknGo Corp Office and report this immediately. If they do not act, call the CFSA.
[quote] I did find EZPaydayCash or LoanPointUSA in the MI dat
[quote]
I did find EZPaydayCash or LoanPointUSA in the MI database.
My best advice is to close your account.
After it is closed pay the EPP with a Visa prepaid card and also contact CashNet USA and make arrangments, again paying with a prepaid card.
The other two I am going to say are unlicensed/illegal.
[/quote]
Are they legal or not???
Oops I meant I did NOT find. They are not licensed.
Oops I meant I did NOT find. They are not licensed.
OK, now I'm really scared. I've been reading through the forum
OK, now I'm really scared. I've been reading through the forum and I see where others have stated that LoanPointUSA will find my new bank account and go after my money there. Will they do so even if I make payment arrangements with them? I'm just terrified that one day they could just go and debit all my money!
I was in your position. Close your account then send the lenders
I was in your position. Close your account then send the lenders the ach revokation letter. They won't get your new acct info as long as you never give them the number. Don't be scared. Give them money that you legally owe and everything will be fine.
They won't get the account info if you never give it to them AND
They won't get the account info if you never give it to them AND you never apply for another internet PDL.
Some people have had their bank accounts threatened because they applied for another loan months after they closed their original account and the old loan companies have sister companies or they had other names.
So they applied for a new loan but with the same company without knowing it. They got the new information and then took out the old debt from the new account.
Either way, don't give out your acct number to anyone. Unless it
Either way, don't give out your acct number to anyone. Unless its a legit bill at a legit site. I just do all my bills through bill pay. AND most importantly: NEVER take out a payday loan again. Borrow from someone. Just last week my friend asked to borrow 100 from me and I did it cause I don't want him to resort to this, when in fact I know he is already using the checking account advance through his bank where you pay the advance back in full on the next direct deposit. Its a vicious cycle and the illegal lenders bark is bigger than there bite.
Thank you so much everyone. You've eased my mind. And trust me
Thank you so much everyone. You've eased my mind. And trust me...I've learned my lesson. I had never done a PDL before, and I was unaware of the vicious cycle.
I do have another question though. I opened an account at a different bank (just to be even safer), and was hoping to get my direct deposit switched over before my next pay period, but according to my payroll dept. it may take up to 4 weeks to change. So that means I can't close out my current account just yet. Can I just put my account on deposits only, or do I also need to do a hard debit block (or are they the same thing)? I know I'll need to send out the ACH revocation letters after I've secured my account, but I just wanna make sure I do it right, since I can't close it yet.