HELP PAYDAY LOAN HORROR

well since pdls are illegal in NJ the only two you owe are magnum and M1Y direct.everybody else owes you a refund.there is a sticky.third from the top of this forum.it will guide you every step of the way.

Yep. They are all illegal.

My best advice would be to close your bank account first.

You only owe what you borrowed. Any fees or rollover charges you have paid apply to that amount.

Thanks for the response! OK..so if I paid any additional amount over the amount i borrowed i can request a refund?? I'm going tomorrow to close my bank account before I do anything. I should ask to stop all ACH transactions..as it seems even with a closed account they can still try to debit your account? is that right?

You can ask for refunds but most are happy with a PIF but they do happen from time to time.

You can use this letter as a template. Scroll down to the 13th post to locate it.

You just need to change it to your information and state laws.

Do not send any letters out until you bank account is closed and an ACH can not reopen it. Since they are illegal they will attempt to send the ACH through even though you have revoked it.

thanks so much!! at this point ill be happy just to have it paid in full! should i still send the letter out to the 2 that i still owe and try to arrange to pay the rest?

That is what we advise to do so you can get a paid in full.

Do not send them any thing other than what you owe and do not do it until you have something in writing that states that X amount of dollars will consider the loan done with.

You only owe what you borrowed.

My bank account is currently overdrawn due to all the damn payday loans and now NSF fees. I wont be able to have the money until my direct deposit goes in on the 3rd. The payday loans will not come out of my account until the 5th..would i be able to close my account on the 4th or would that be too soon?? I really wish theyre was something I could do not..but with my account being overdrawn I dont know what my options are.

Close it on the 3rd as soon and the direct deposit is made.

I closed my account yesterday and it feels so good that I will no longer have to owe this payday crooks. This is one of the emails I received back from JHS Marketing.....



Dear Ms.
We respect a consumer who researches the services to which he/she uses. With that being said when you applied for and agreed to the terms of the loan it would have behooved you to read the complete contract you were agreeing to. You are a citizen New Jersey, however the contract was not made in New Jersey. The contract was completed via the world wide web, the governing law (clearly outlined in your contract) which you agreed to by your legal e-signature is based in Salt Lake City, Utah. When you spoke with Annika on 01/26/09 at 1:21pm CST, she clearly outlined how the loan works and what the finance charges were, yet you still accepted the loan.



Unfortunately, since you have revoked authorization on this loan, we will have no choice but to sell your account to outside collections. Do not send any further correspondence to us as we will no longer hold the account in our offices. You will be receiving an email shortly as to where your account has been sent. Thanks,



JHS Marketing

I borrowed $200 and have paid back $360..I believe that this is just a scare tatic that they are trying to use. They cannot sell my account to a collection agency when I dont owe them any more money right?

The can but the collection of the loan is also illegal. If you get any collection call inform them of that and then hang up on them.

Does anyone have an Email address or website for JHS Marketing. Formerly TJF Corp

Please stop taking out money from my account. I have paid you crooks 580.00 total for a 200.00 loan.

I will take legal action if you take one more cent from my account...Sandra Smith

Sandra you need to contact them directly, this website is not affiliated with them.

is it true what their letter said that even though payday loans are illegal in one state, the contract is still viable because it was done over the internet out of another state? i was under the impression that if payday loans are illegal in my state that the contracts are void. now i'm worried it will hurt my credit and they will send me to collections and my wages will be garnished! I'M PANICKING!

Your state laws prevail.If they are illegal in your state you are onl morally obligated to repay the exact amount borrowed