Now what?

You can follow the steps mentioned in the following link to deal with your illegal lenders.

http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

I sent my letters yesterday and right away I got an email from one of the lenders, requesting to negotiate, and I made a payment options to pay only what I borrowed from them without the fees. Still waiting on 3 more reply from the others lenders

Thank you SC! Shazzers had given me the same link yesterday, but I didn't read it all the way through since I was freaking about what to do with my bank account.

Marilyn - It is really reassuring that you have lenders willing to work with you, are they illegal lenders, and If I may ask what lenders they are?

Also, this is a letter I have received yesterday from Magnum Cash Advance when I tried ask them if I could hold off on a payment.
"We are in receipt of your request to alter your payment schedule.

At this time, you are not eligible to skip a payment in its entirety, because you have not completed four loans with our company. But you are eligible to make alternate payment arrangements. Please return to our website - www. magnumcashadvance.com and click on the "My Account" tab. Click the link for alternative options under your upcoming payments. Your payment schedule will be updated upon your selection and online confirmation.

Please note that this process has now been automated. When you log into your account, it will now advise you if you are eligible to skip an entire payment, make a limited payment, or are not eligible to make a payment change.

**Please feel free to contact our collections department to get payment assistance if needed. They will be better suited to accommodate any special payment arrangements you may need. They can also be contacted directly at 1-866-406-6800 ext. 3."

Does this mean that they are willing to work with me.

Hello Amanda,

The name of the lender is VIPLOANSHOP.com, they know that they are ilegal lenders, thats why they negotiated with me right away. this is the copy of the letter that I sent to all my lenders:
"
[COLOR=black][FONT=Verdana]March 25, 2010

VIP Loanshop.com

Marilyn Brown
Ashburn VA


After doing research regarding Internet payday loan laws in the State of VA, I have found that your Internet payday loans are actually illegal in the State of VA . I have also found the following laws to be true applying to payday loans in the State of VA. Click the new regulation below:[/FONT][/COLOR]
[COLOR=black][FONT=Verdana][/FONT][/COLOR]
[COLOR=black][FONT=Verdana][URL="http://www.rebuild.org/news-article/payday-loans-2009-kicks-off-with-yet-more-regulation/"]http://www.rebuild.org/news-article/payday-loans-2009-kicks-off-with-yet-more-regulation/[/URL]


I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with USAA to protect my interest in this matter. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed in the state of VA to be a legal and binding contract, your company should NOT issue loans to VA residents at all. I am requesting that you send me your license number which enables you to offer loans to VA residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, ( I HAVE PAID $300.00) however, this is only if you provide me with a physical address where I can send payments.

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the Attorney General's Office.

I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,

Marilyn Brown
[/FONT][/COLOR]
[COLOR=black]CC: Better Business Bureau
VA Attorney General
Federal Trade Commission [/COLOR]
[LEFT][FONT=Arial Black][SIZE=4][COLOR=#ff8000][/COLOR][/SIZE][/FONT]
[/LEFT]

Thank you so much Marilyn! Your letter was a wonderful help :)

Would anyone happen to have the updated laws for PA? I know they are on the site, but I wasn't sure if they were the updated laws or not since I hear PA is a tricky loophole state for these laws.
I would just like to have the PA regulations on Payday lending in my letter to sound alittle more legit and for them to use as a reference.

Sorry with the 101 questions, but should I send my letter via email today. I am kind of leary since I closed my account yesterday and the bank told me that any ACH transactions can go through for 48 hours?? I just don't want to send it and then they debit my account right away and open it back up. Does that make sense?? I'm just so confused

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