One and DONE!!!
Date: Tue, 11/02/2010 - 09:26
My next payday after requesting an account balance, they debited my account for the same $120.00 they had been taking. When you first request the loan, they lead you to believe that they will debit your account for the full amount plus "interest" on your next payday. However, they started with a $120.00 debit each pay period and will continue if you don't close your account. Anyway, first I opened up a complaint with the FTC, then I sent the C&D email advising them on my state (NJ) law regarding payday loans (prohibited) and to stop debiting my account. They responded with their usual jibber jabber about they do not have to follow my state laws but are under the jurisdiction of Nevis, West Indies, yadda, yadda, yadda. Well, because of the wealth of information I got from this site, I then opened complaints with the BBB, my state's AG and state's Dept of Banking and closed my checking account before my next payday (I get paid twice a month). My bank (BofA) assured me that once the account was closed they would not reopen it for any further debits after I explained that their was issues with fraud on my account. At this point, I got a little cocky because I was armed with knowledge about my rights. But now now things seem eerily quiet as my payday (10/29) has come and gone and my account is closed. No calls at work and I have also since moved and changed my home phone number since taking the loan and no email threats.
I originally borrowed $400.00 from them and they claimed with interest I needed to pay back a total of $520.00 but they debited a total of $600.00 from my account before I took any action. So in my complaints I noted that I wanted a PIF letter and refund. I may or may not get it and I’m sure it will be some time before I hear back from the agencies on a resolution but we’ll see. PLEASE, PLEASE, PLEASE!! Whatever you do, keep fighting these idiots because it will pay off in the end. It can be frustrating and time consuming but keep at it. If you don't get your money back, you can cause them to be investigated and even shut down so they can't do this to others. This was my first (AND LAST) experience with payday loans as I got myself into a bind over the summer and thought it was a viable option to get me back on track. What a mistake, but I'm glad it's over and I can move on! I wish all of you still fighting the best of luck and outcomes in your favor! Thank you a thousand times to the many contributors to Debt Consolidation Care!! I will keep you all updated if anything changes.
It's great to hear this Jitterbug!!! Now, make sure that you get
It's great to hear this Jitterbug!!! Now, make sure that you get the PIF in your hand. Send them your letter on a regular basis to get response from them.
How long before payday did you close your BofA account? I closed
How long before payday did you close your BofA account? I closed mine today and I was told that it takes 3-5 business to fully close an account. After that no ACH can reopen your account.
I really hope this is true. My next payday is Nov 12 and that's when all the ACH should hit the account...if they decide not to respect the ACH revocation letter.
I closed my account 2 days before my next payday was scheduled a
I closed my account 2 days before my next payday was scheduled and I was able to get my direct deposit from my employer moved over immediately as well.
Thanks paulcahill80, will do!
Yes, it's important that you close your account. Or else, these
Yes, it's important that you close your account. Or else, these illegal PDl lenders will lynch out the last penny from your account.
Jitterbugg, most of us here have been in your shoes and we know
Jitterbugg, most of us here have been in your shoes and we know that wonderful feeling of becoming PDL-free. However, it saddens me to think of how many people are still caught in the trap or pulled into the trap without knowing about the help they can get from this great website. (wouldn't it be great if debtconsolidationcare could somehow put a "pop-up" ad on the computer of everyone who would try to log into a PDL website? Just a thought!)
You are right Pachacutec1. We all have been blessed for finding
You are right Pachacutec1. We all have been blessed for finding this great website. It's important that we reach out to each one of those who are wriggling under the payday loan debts.
Ha! They left a message on my work voicemail today stating that
Ha! They left a message on my work voicemail today stating that my account is past due and to call them to make payment arrangements or a settlement! Fat chance!