Hard Lesson Learned

It is a very good chance that the other PDL's will debit your account. They all trade info, and have so many affiliates and names it is hard to know .I definately would close my account

It is not so much that they trade information, but most of the illegal sites are run by just a few companies. Also, many of them buy your information from a lead generator. This means that when you put your information into one site, they then "push" it to numerous 3rd party sites that actually offer PDL's. So your one application could be sent to each of the "parent" companies that you currently owe and they now have your bank info. If you really want to get out of PDL's, change your account and DO NOT ever borrow again on-line!!!

Oh my I am sorry this happened to you. PLEASE close that account out immediately. Never give your bank account information to these goons :cry: Unfortunately when you do so this opens you up to fraud and identity theft. These types of lenders can and will debit your account by any means. Close that account ASAP!!

The website you applied for the loans thru probably was a host site for PDL companies. Here is what I found on there website.

Quote:

I just closed my bank account with Chase. They were okay with closing my account but not thrilled especially when they found out it was a PDL. NEVER EVER EVER give your account out to a PDL company. I am so embarassed I did it but relieved now that nobody can touch my money.

Glad to here you got that taken care of. Did you get the unauthorized transaction reversed??

Chase will not file a claim with against a PDL so I will not get my money back. My $400 is gone to Nationwide Cash. I thought about writing a complaint letter to the IN Atty General but at this point it probably would do no good and I won't get my money back.

file the complaint.the AG is there for his purpose.don't let an illegal pdl that illegaly debited your new account get away with it.

Good Morning Paul :D

That is total BS. If you did not authorize a that transaction then amount of $400 then that is without a doubt FRAUD. Why are they being so difficult. :x My bank would reversed that so fast without question :?

Chase said because I signed a contract back in 2007 that they can't do anything about it even though I told them Nationwide Cash is operating illegally in the state of IN. Chase would not hear me out. I will write write a letter to the IN atty general.

Oh my goodness what did I type above..LOL!

It is too early for me to be on the computer I guess :oops:

How the heck did chase get this information. Did you volunteer this information? You still have the right to revoke any preauthorized EFT at anytime. It is your Legal right. Please see the below information. I would write a letter and bring it to the bank with this included.

[quote]
Electronic Funds Transfer Act

907. Preauthorized transfers

(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.

[Codified to 15 U.S.C. 1693e]
[/quote]

Chase said it was an electronic check not an ACH wire transfer...does that matter?

Well then that is even worse. I would still dispute it untill I was blue in the face! IMO, it shouldn't matter you blocked all access from your account with them prior to this unauthorized withdrawl and they did not honor your request.

Thing with the electronic check is some PDL companies include a clause in their contracts. Sometimes stating upon default they can collect the balance of your loan by ACH transactions or electronic check, blah, blah , blah. Check your contract from the comapany and see what it says.

Bottom line is you did not authorize the $400 withdrawl when you had a balance of $75 on the loan. Also you did not authorize an electronic check on your account and you revoked ALL ACH transactions with this PDL company prior to this debit. They ran a electronic check through to get more money from you which is typical with ILLEGAL lenders :evil: Chase needs to be aware that they were attempting access your account by any means necessary being that you blocked all electronic debits from the PERIOD!!

Dispute it to the 3rd power until Chase is sick and tired of you :twisted:

And they say this site doesn't give out legal advice . . . but here we have a borrower that never claimed to have revoked the lender's authorization to debit his accounts (whether with the fifteen day oral revocation or the permanent written one provided for in the EFTA) and who claims his principal was only $75. Whether that number is accurate or a product of the creative accounting promoted on this site is anyone's guess.

On the other side you have a lender whose authorization to debit the borrower's accounts was not revoked (unless m2f2 has more details to share) and has a contract that - until a judge (rather than some internet bulletin board) declares it null and void - calls for them to be able to collect principal, interest and fees from the borrower's accounts. And their calculations of the debt may or may not match the borrower's. (BTW - Is it still fraud if there is a genuine dispute as to what the balance was? Wait, don't answer. Wouldn't want anyone to get jammed up for unauthorized practice of law.)

And finally we have a hall of fame member of DCC, relying on her years or legal training and courtroom experience I'm sure - declaring that the lender "definitely" committed "fraud". "Fraud," by the way is a legal term that every state and the federal government have taken the time and trouble to define for themselves. "Fraud" is a term that every civil and criminal court in the country has to determine - on a case by case basis - whether it occurred in each unique set of circumstances.

Now, m2f2, you have three choices in how to approach this.

1) You can chalk this one up to bad luck, close the account and never, ever apply for another payday loan.

2) You can march into Chase and file a fraud affidavit and in the box where you have to state the basis of your claim you can write "Because I read on debtconsolidationcare.com that it's definitely fraud." That should satisfy the "under penalty of perjury" clause when you sign it.

or

3) Turn off the computer and call some lawyers in your area till you find one that gives free consultations. Then go see that lawyer and get some legitimate legal advice.

Nice post TROLL..LOL! :lol:

The PDL company is ILLEGAL they will get no where in court. Now which PDL company do you work for.

What should I do? Recap from above: I took a loan out from nationwidecash.com in 2007. The original loan amount was $500. I paid back $425 so I owed them $75 on principal only. In April 2009, they took out $400 so I ended up paying $825. I complained to the BBB in Delaware about Nationwidecash.com taking $400 out of my account this past April through an electronic check. I received the following reply from nationwidecash.com:

This letter is in response to a complaint that we received on 6/9.09. On April 23, 2009 Ms. XXX applied for a loan with our institution, however she still had an existing loan with nationwidecash. We attempted to call Ms. XXX, at work and home with no success, therefore for sumbitted the Principle balance that was owed to us in the amount of $400.00 on 6/24/09.

We at nationwidecash take pride in customer resolution and would like for Ms. XXX to please call us to resolve this matter we would be willing to offer Ms. XXX a refund. Please have Ms. XXX call me at 877-711-1199.

There are mistakes in the letter (I typed it exactly as they sent it). I do not owe them $400 in Principal balance. I only owe them $75. I saved all of my bank statements from 2007 so I can prove when they deposited the $500 and when they withdrew a total of $425 back in 2007 before I closed my account. They cannot refute that. I do not want to call them back to discuss my refund. Is there any other option? Should I reply back through the BBB Delaware?

Did you take out a new loan with the intention of not paying? It seems to me they only took what was right.
If you went thru all the trouble with loans and knew they were not legal why dId yoU do it agAIN ? wERE YOU GOING TO DISPUTE THIS LOAN AS WELL AND NOT PAY

he said he did not tAKE out another loan. Read the post before you comment

stop making accusations guest.this is an illegal loan.it sounds like they got what they legaly are entitled to.

nationwide claims they are going to offer me a refund (I overpaid them by $325) but I do not want to call because I know for a fact they will be rude to me about it. Should I reply back through the BBB Delaware that I only want resolution in writing?

yes,only correspond through the BBB.glad you are getting money back,but it disturbs me that CHASE took that stance.i would close the account asap.

thank you. i did close my account with chase the day that nationwidecash took the money out.

I responded to the BBB Delaware that I do not want to call nationwidecash back by telephone; that I only want correspondence in writing. Nationwidecash is willing to give me a refund but only if I call them. BBB Delaware responded today that my case is closed because they felt that nationwidecash offered me a reasonable resolution. I am upset - I DO NOT want to call nationwidecash for my refund. I have spoken to them in the past and they are rude, pushy, degrading, threatening, sarcastic and unprofessional. I'm not sure what to do. I already complained to the Indiana???s Office of Financial Institutions and the Indiana State Attorney General???s Office but I did not hear back from them. I wrote them a letter 7 weeks ago. Any suggestions on how to get my refund without calling nationwidecash?

If you don't want to call them, the only other way I would advise doing it is by sending them a written request via certified mail, return receipt requested, which would confirm they got it.

If they are willing to give you $325 back, I would think that you can handle a 5 minute phone call. Remember, they do not have to give you the refund. At this point they are "holding the cards" by setting the requirement for issuing you a check.

I called Jimmie Blake, Compliance Manager at Nationwidecash today twice today to discuss my refund but he has not returned my phone call yet. Does anybody have a valid email address for Jimmie Blake? I saw a couple of email addresses for him through the threads but it appears they are not valid anymore.

I would keep calling him, but if he dodges you, remember that certified mail is proof that they received your request. I would still pursue that option.

Jimmie Blake and I played phone tag today. Hopefully, we will connect tomorrow. Here is my question. Nationwidecash owes me a refund of $325. What if he only offers me $200 back then what should I say?

Good News...I spoke with nationwidecash.com and they are mailing me a refund check for $325. They asked me for my new bank account # and I told them I would only accept a hard copy refund check. They said it would take 3 - 6 weeks to get my money. I'm glad that I fought them for my refund.