Payday loan help!!

Date: Wed, 05/13/2009 - 01:01

Submitted by anonymous
on Wed, 05/13/2009 - 01:01

Posts: 202330 Credits: [Donate]

Total Replies: 4

First of all I thought I was the only one going thru this hell with payday loans but after coming across this site I have realized I am not alone. I was wondering if anyone could give me some advice on how to deal with my payday loan nightmare. Here is what I have that I could remember:

Paycheck Today: 455.00
One Click Cash: 325.00
Discount Advances: 675.00
CashTransferCenters: 657.90
Speedy Cash: 315.00
United Cash Loans: 480.00
Eastside Lenders: 325.00

There are a couple of others but I can't find out the amount owed but will continue to look. I am in California and don't know if any of these are legal or not for my state. If anyone could help it would be greatly appreciated. I am getting calls at work now. I can't close my checking account yet since these companies have caused me to be overdrawn. Is there a way I could talk to the bank and stop the ACH withdrawls? Again I thank you all in advance for any help you could give me.

Doug

All of those are illegal except for speedy. You can block the

All of those are illegal except for speedy.

You can block the ach but they bank usually charges a fee. The illegal lenders will also change names and amounts so they can still get through.

What I would do is ask the bank to place a block/freeze on the account or place it on deposit only.

For illegal lenders you only owe what you borrowed. Any fees or charges you have made apply to that amount.

You can find a sample letter here. Scroll to the 13th post to find it.

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

lrhall41

Submitted by nohiogal on Wed, 05/13/2009 - 02:46

( Posts: 2582 | Credits: )

I found only Speedy Cash to be licensed in CA and so you need to

I found only Speedy Cash to be licensed in CA and so you need to pay the interest and finance charges in addition to the principle amount to the creditor. However, for illegal payday lenders you need to pay only the principle amount borrowed. You should visit the bank asap and talk to the manager about cancellation of ACH authorizations from illegal lenders.

lrhall41

Submitted by SC on Wed, 05/13/2009 - 02:56

( Posts: 3937 | Credits: )

i dealt with paychecktoday and they stopped all finance fees and

i dealt with paychecktoday and they stopped all finance fees and let me pay using a pre-paid card and just the principal amount only. they were actually very nice to me. Unitedcashloans declared my account PIF after my e-mail demand. took 3 tries but finally worked.

lrhall41

Submitted by ali333 on Wed, 05/13/2009 - 05:14

( Posts: 21 | Credits: )

good luck and keep us posted :)

lrhall41

Submitted by bea2ls on Wed, 05/13/2009 - 12:44

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