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payday hell

Date: Mon, 08/31/2009 - 07:16

Submitted by anonymous
on Mon, 08/31/2009 - 07:16

Posts: 202330 Credits: [Donate]

Total Replies: 6


After paying for two loans from febuary for 300 and 200 at 60.00 and 90.00 a piece and not being able to get a live person I went to my bank and complained they put a hard hold on these two companies .mY BANK DID REFUND THE LAST 2 PAYMENTS after I told they these companies have been paid several times. Its my fear they will call my employer and harass me there .I have a joint checking account and I REALLY DON;T WANT T O CLOSE THE ACCOUNT Does anyone have any suggestions . I have several other pdl loans that I have paid on time and feel now like I AM TRAPPED BY THEM. I know now that they not legal in NJ I just want to get out of this mess.


hello, welcome.. i am sorry but the only sure way to stop this maddess is by closing your account.. blocking them will not work and you cannot leave it on a hard block forever :(
that said, it appears that your principal was already paid? if so than send out letters telling them so. they will call you at work but most illegal companies will not bother you too much if the principal is paid and they are aware that you know they are not legal.
what companies are these? how much was borrowed and paid back? perhaps someone here is familiar with these companies and can advise you furhter.


lrhall41

Submitted by bea2ls on Mon, 08/31/2009 - 07:28

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AC-CEN LoanPointUSA is one of the companies ,CMG Group LLC is the other one I got a reversal on . I also I the little loan shop . 500 fast cash .One click cash a couple of them have done the 5 times rollover and not paying back the loan at 90 plus 50 for the paydown


lrhall41

Submitted by on Mon, 08/31/2009 - 07:35

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How about having my name removed from the account and putting a stop on the payday loans can this be done


lrhall41

Submitted by on Mon, 08/31/2009 - 08:27

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That won't work either. They will just change the amount or change the company name pulling the debit or pass it through as an electronic check. It really is unfortunate but your only 3 options are: 1) pay them as they request. 2) pay a bunch of over the limit fees to the bank. 3) close the account. Once you start to get the OTL fees, the bank will make it very difficult for you to close it as the fees get higher and higher. Months down the road you may resolve it after a lot of time and hassle but it will be a headache.


lrhall41

Submitted by Chrys Henderson on Tue, 09/01/2009 - 05:01

( Posts: 2538 | Credits: )


Quote:

Originally Posted by Anonymous
I justwent tot he bank to stop a pdl pauyment due to come out on friday.I WAS TOLD IT COULD NOT DO IT BECAUSE IT WAS A INTERNET PAYMENT SET UP. iT DOESN;T MAKE SENSE TO ME .your right it may just easier to close the account


Tell your financial institution you don't NEED to have a reason to block debits, the federal law (EFTA) and regulation E gives you the right to block ANY and ALL debits when you see fit. I would also remind your financial institution they could be held liable if they don't abide by the federal law!!


lrhall41

Submitted by Shazzers on Sat, 09/05/2009 - 11:49

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