Georgia - PDL help needed

I am willing to contact the ACH processors, if necessary.

I can try asking my C.U. for the info when I call on Monday, but if anyone knows the processors for any of the listed, that would be great.

Hi, I will return with more information shortly, I need to do a little research first.

As you can see from the link below payday loans are prohibited in your state. Some of your lenders are NOT payday lenders so the laws below do not apply to you.
http://www.paydayloaninfo.org/state-information/18

Thinkcash and Elastic are NOT payday lenders, those are the ones you want to address first and foremost. You will need to close your account to protect yourself as it will never be safe again. The other lenders you have are NOT legal in your state, CLICK HERE to find out how to deal with illegal lenders.

Thank you, Shazzers. :)

This forum is already so well set-up and maintained that I had already begun all of the outlined tasks with the three illegal lenders. I just wanted to post and make sure I wasn't missing anything.

This is really a fantastic resource for anyone in this kind of trouble. Thanks for all your hard work, and non-judgmental assistance.

Okay, here is what I wrote.

I noticed that the company actually doing the ACH debiting is also listed in the loan documents (invariably in Delaware, in my cases), as well as the lender with whom I made the agreement. I decided to list them both out in the header and in the body, just to be safe.

I also researched and discovered that Georgia law permits residents to sue a lender for three times the amount of the amount of the interest, any other charges we may have paid, and for reimbursement for attorney's fees and court costs. I don't plan on doing that (too much time, money and effort!), but I thought that might make good 'ammo' for any further correspondence.

[QUOTE] Date:

-1800899Cash.com
The Financial Services Centre
P.O. Box 1823
Pauls Avenue, Kingstown
St. Vincent & The Grenadines

-Frascella Enterprises of Delaware, LLC (including its agents)
650 Naamans Road, Suite 300
Claymont, Delaware 19703
USA


Name
Address
Account #

Loan #


This letter is to inform you that I am aware of the FACT that the loan you issued to me is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.


Legal Status: Prohibited


Citation: Industrial loan act applies. Ga. Code Ann. 7-3-14. Ga. Comp. R. & Regs. r. 80 3-1.02(7) and O. C.G.A. Section 16-17-1 et seq.


Small Loan Rate Cap: 16% per year (10% per year discounted plus fees); 60% per year criminal usury cap


The state of Georgia prohibits payday loans, therefore, I am bound by the state laws where I reside. As I have no presence in the state of , or the country of , therefore I have no legal obligation to the 'governing laws' you may have detailed.



Be advised that as of , I revoked, in writing ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above have my permission to access my accounts or impose a wage assignment.



also may not create and submit an electronic check payable from the bank account identified in loan ID .

I do not agree that if any if any item is returned for any reason by the Financial Institution named in loan ID , that can electronically debit that checking account for the full amount of the unpaid check plus a return item fee. Additionally, any agent(s) of , including attorneys and third party collection agencies in the event of default; may not initiate one or more ACH debit entries.

I do not authorize (including any of its agents), to substitute any other depository account(s) I maintain at any financial institution(s), and neither , nor (including any of its agents) may not initiate debits in any amount(s).

I do not authorize , (including any of its agents), or any agent(s) of , including attorneys and third party collection agencies to prepare and submit one or more checks drawn on the bank account listed in loan ID at any time on or after the due date of your loan. Similarly, electronic funds transfer, wire transfer, or withdrawal by electronic or paper check are also not authorized.

Finally, I do not acknowledge or agree with any revocation of arbitration or jury trial. The right to bring a matter to trial by jury is every U.S. citizen’s fundamental legal, federal right, and no U.S. citizen can be compelled to revoke it.

I will only communicate to resolve this matter via email. If you ignore this notice and attempt to contact me or any of my references via telephone, you will be ignored and any payments owed will be delayed. I am willing to pay the principle amount of the loan only, however, no address means NO payments, this is not negotiable.



At this point, I have paid the principle in full (I have paid over on the original ), so I require discharge of the illegal agreement, and a written statement confirming the account is paid in full. Because the loan is illegal, I am aware that my only obligation is to repay the principle amount borrowed, and since I have done so, I demand a refund of any and all monies paid over the principle stated in loan ID .


If you do NOT reply to this notice within 48 hours I will be forced to file complaints with my state’s Attorney General, , my state’s Insurance Commissioner, , the BBB, and the Federal Trade Commission.

Sincerely,


[/QUOTE]

Thinkcash will work with you. Although I am current with them, I revoked my ACH and I make my bi-weekly payment with a Wal Mart money card. I load the amount of my payment and call them. This works really well. Only change is that with an automatic withdrawal you have the option of extending the due date of your payment. I would rather they not have my banking information to share with others than the option of extending my payment due date. I'm close to paying them off, I'm out of the PDL nightmare, have a new bank and bank account and I'm not about to give that information to anyone. Be patient, keep hounding them and for those that you have overpaid, if any, keep requesting a refund. I've done that and so far one out of five have sent me a sizable refund back.

Thank you very much. I will keep working with them.

My bank suggested that it would be better to put ACH stops on the offending companies, rather than closing my account.

My account is in a negative balance at this time (of course!), so I can't close it right now, anyway.

Will ACH stops be adequate?

Personally, I don't think your money is safe unless you close your account and open another one.

I agree with Lizzie. I know it's scary and can be troublesome to close an account and open a new one. However, the peace of mind of knowing that you have regained control is amazing. Explain to anyone you have on bill pay, etc your situation (just say there has been fraud on your account). Legal creditors will understand. I even had one allow me more time to make a payment until my new account could be opened and a payroll deposit made.

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