No help with PDL or Bank

Date: Mon, 07/26/2010 - 09:07

Submitted by anonymous
on Mon, 07/26/2010 - 09:07

Posts: 202330 Credits: [Donate]

Total Replies: 3

I live in GA and have a loan via qxlonline. I've requested to do paydowns and they refuse and state that I either have to pay a roll over fee of $76 per period on a $200 loan and none of this reduces principal or pay off the whole amount of $276.00. I've contacted my bank (Bank of America)and requested to revoke authorization to ACH my account and they have basically lectured me and told me that since i borrowed it I have to repay it.

Can anyone give me any suggestions on what to do here?

BOA cannot stop you from closing your bank account unless it is

BOA cannot stop you from closing your bank account unless it is currently overdrawn.:mad: Close your BOA account or ask them to place the account on deposit only status. You need to do this by going into the local branch and try to speak with a Branch Manager if possible. Let them know your personal information has been compromised and you need to put your account on a security freeze or close it all together.

What is the name of the PDL company? You said it is an online lender?

lrhall41

Submitted by Cool_Abyss on Mon, 07/26/2010 - 09:22

( Posts: 2936 | Credits: )

The company is QXLonline.com. I am willing to repay the $200 but

The company is QXLonline.com. I am willing to repay the $200 but it needs to be on payment plan which they refuse. I cannot close the account as I do not have enough funds to go to another account. I need help in steps I should take to prevent future debits to my account. I would prefer to NOT close it if possible. I cannot believe I got a lecture. I asked who the ACH processor was and she would not tell me. Told me to call the PDL company.

lrhall41

Submitted by on Mon, 07/26/2010 - 09:27

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[quote]The company is QXLonline.com.[/quote]I do not believe the

[quote]The company is QXLonline.com.[/quote]I do not believe they are licensed in GA, because payday lending is prohibited there. $76 dollar roll over on a $200 loan is nutZ!! See below link for GA state laws.

paydayloaninfo.org/stateinfo/GA.asp

[QUOTE]I cannot close the account as I do not have enough funds to go to another account. I need help in steps I should take to prevent future debits to my account. I would prefer to NOT close it if possible. [/QUOTE]Well if you cannot close the account then see if the bank can put it on "DEPOSIT ONLY" status. This will not allow any debits to come out and require you to go into the bank to make withdrawals from the account. This can be done you just have to get the right BOA rep. I had a BOA account and closed it with no problems. I suggest you really go in and talk face to face with a manager.

You could also try to fill out an affidavit that will block that specific company from making debits on your account, however they can get around that. This is why we stress you should close the account if possible. Do you have direct deposit on the account with your payroll? If so you can have your paycheck loaded onto a pre-paid debit card for free at most check cashing places. Please read below link for more information on closing your bank account.

debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

debtconsolidationcare.com/paydayloan/close-account.html

lrhall41

Submitted by Cool_Abyss on Mon, 07/26/2010 - 09:35

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