Need help in Ohio
Date: Sat, 08/29/2009 - 08:05
Here are the companies with whom I currently have loans, as well as the amounts. I live in Ohio.
Integrity Advance: $500.00 original loan, $750.00 paid to date. Internet loan, set up as an ACH debit
CashNetUSA: $850.00 original loan, nothing paid to date. This is a new loan, and was the one that made me realize the insanity has to stop. Internet loan, set up as an ACH debit.
Cashland: $500.00 original loan, over $1000.00 paid to date. Storefront loan, have to write a check each time I take out a loan
Advance America: $500 original loan, over $1000 paid to date. Storefront loan, but they do not take a check. According to a lady who works at the store, and absolutely despises our job, if I don't pay they will simply charge me $34.00 when the ACH is returned, and then send me into collections.
First American Cash Advance: $1000.00 original loan, over $1000 paid to date. Storefront loan, have to write a check each time I take out a loan
Rent-a-Center East, Inc., d/b/a CashAdvantEdge: $1000 original loan, over $1000 paid to date. Storefront loan, have to write a check each time I take out a loan
After reading this web page, here are the steps I have already started taking:
I have opened up a new checking account, and I am in the process of switching over all the ACH debits for legitimate expenses to my new account. My next paycheck will be paid on September 11, so I am getting a good head start on this process
Next Wednesday I will be going to my bank in person to close my account. After reading the posts here, I am going to insist and demand that a hard lock for ACH debits is placed my account. I will then send a letter to the branch manager summarizing our conversation, including the application of a hard lock to my account
I guess I am a little perplexed as to what I should do next, and I guess I have the following questions and concerns:
Do I need to be sending any documentation to these companies? Revocation of assignment of income? Revocation of right of ACH debit?
The CashNetUSA loan is brand new. Does this cause any special problems?
Do I have to worry about being accused of passing bad checks?
Like everybody else, I can't believe I got in this deep with these companies. In hindsight, it was a huge mistake, but at the time I took out the loans, it seemed like the only thing to do. All I know is this simply has to stop. Now.
I thank you in advance for any suggestions or advice about how to proceed with this process. I have a friend who owns a debt collection company, and he has been given me some advice, but I know the experts for dealing with PDL companies are here at this page.
Thank you!
pod, Please remember that since all of your PDL's are legal e
pod,
Please remember that since all of your PDL's are legal except Integrity, there are different rules that will apply. You will not be able to "bully" a legal lender into submission as you would an unlicensed lender. The legal lenders have the law on thier side and many will use it to thier fullest extent, especially if you to dictate the situation. What I am trying to tell you is that you need to work with your storefronts and CashnetUSA. You can take the hardline approach with Integrity, but not the others.
As far as dealing with your legal lenders, I would suggest that you call the Corp Office and speak to someone in Operations, NOT Collections. Explain your situation and do not get aggressive with the person that you speak with...
Good luck.
CashAdvantEdge is real good about working with you, if you reque
CashAdvantEdge is real good about working with you, if you request the EPP (Extended Payment Plan) before you default they are usually more than willing to help you out. Click the link below to read about the EPP, number 11.
http://www.cfsa.net/industry_best_practices.html
Click the link below to read your payday loan laws.
http://www.paydayloaninfo.org/state_detail.cfm?id=OH
[samebox:0bad70eb10="Shazzers"]Debt Limits:
Maximum Number of Outstanding Loans at One Time: One, four per year
Rollovers Permitted: None
Cooling-off Period: 2 loan limit in 90 days
Repayment Plan: Yes, 60 days, no fees[/samebox:0bad70eb10]
You need to speak to your store front lenders about a payment plan.
Integrity is not licensed to lend to Ohio residents, they are ruthless and will drain your account as soon as they learn you are aware of your rights, so, I am going to give you a link below on how to deal with illegal lenders, do not skip any of the steps and read it thoroughly before you proceed.
CLICK HERE to find out how to deal with illegal lenders.
Good post Shazz. Just remember that there are 2 sets of regulat
Good post Shazz. Just remember that there are 2 sets of regulations that the storefronts are following. Some are still PDL's and some are installmet loans with totally different regulations. It is now VERY confusing in OH!!!
First, let me thank you for your help so far! I is greatly appr
First, let me thank you for your help so far! I is greatly appreciated!
From reading these posts and the state law for legal lenders, I have a few more questions.
Regardless of the outcome of my discussions with my legal lenders, should I close my current banking account? Is there a chance they will try to cash my check when they realize what I am trying to do? Because of Integrity, should I close it in any event?
Are there set amounts by law that my legal lenders can force me to pay, or will I be able to enter into whatever payment arrangement I can negotiate?
I'm not going to be a jerk when I call my legal lenders. Rather, I want to do everything possible to come up with a workable payment plan.
Thanks!
Due to the fact that you have an illegal lender who has your acc
Due to the fact that you have an illegal lender who has your account information you really should close out that account, however, go into your bank and ask that they put a hard debit block on it until you can get make payment arrangements with your lenders, this will stop the unlicensed lender from debiting your account for now. Just make sure you make the legal lenders aware that you are closing out your account due to some fraudulent activity on your account, but for now you have placed a freeze on it until further notice. Make arrangements with your lenders (the legal ones first), then proceed with the steps on the link I gave you.
By the way, you'll need to speak directly with the branch manage
By the way, you'll need to speak directly with the branch manager for a hard debit block.
Oh and, if I'm not mistaken all of the lenders you listed are pa
Oh and, if I'm not mistaken all of the lenders you listed are payday lenders, but you might want to double check your contracts to be certain they are, they may be short term installment lenders now. I'm not 100% on that.