PDL in Wisconsin - Help!

First you need to close your checking account and get a new one. I'm going to go through these 1 by 1 so you understand the difference between what you think you owe and what you actually owe.

500FastCash is not licensed to lend in any state in the U.S. Anything you've paid them (in fees, interest, etc.) can be subtracted from the original $300 loan. I have a feeling they owe YOU money.

JHS Marketing is not licensed in WI. You only have to repay the PRINCIPAL amount of the loan (e.g. you borrowed $300 and have paid a $90 rollover fee 3X so you only owe them the remaining $30), no fees or interest are payable.

Alpine Direct is not licensed in WI. You only owe the principal.

Whisper Loans is not licensed in WI. You only owe the principal.

CashNetUSA (ApplyAdvanceAmerica) is licensed. If you are having trouble making payments, ask for an extended payment plan. Generally, they will break your current balance due into 4 equal payments, due over your next 4 pay dates and no further interest will be charged.

AdvanceMeToday is not licensed in WI. You only owe the principal.

IntegrityAdvance is not licensed in WI. You only owe the principal.

SpotOn Loans is not licensed in WI. You only owe the principal.

BaysideCash is not licensed in WI. If you never received a deposit from them, why are you paying them anything? You owe them nothing if nothing was ever deposited into your account.

VIPLoanShop is not licensed in WI. You only owe the principal.

Zip19 is not licensed in WI. You only owe the principal. If you've overpaid on previous loans, ask for a refund of the overpayment(s).

[FONT=Arial]Follow the advice [URL="http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html"][COLOR=blue]in this thread[/COLOR] [/URL]to learn how to deal with illegal lenders. You will find sample letters and other useful information, shared experiences, etc. Be sure to include ACH debit and Wage Assignment revocation language when you send your letters/emails.[/FONT]

Do NOT send letters/emails until your account is secure. Do NOT share your new account information with ANYONE (even the legal lenders). Make any payments due using money orders by mail or with a prepaid debit card.

You can also contact the regulatory agency below for further assistance:

Wisconsin Department of Financial Institutions
345 W Washington Ave
Madison, WI 53703
Phone: (608) 261-9555
Fax: (608) 261-7200

Wow, I could be owed a lot of money if those are correct! I have been paying JHS and Alpine direct 90 dollars each, every two weeks, since January! I will take a look at the process for illegal lenders.

In terms of closing / opening accounts. Is my plan to do this:

Open new account in new bank. Set up Direct Deposit for my job into my new bank account. Contact old bank / close my account, stopping all debits?

What about companies like ApplyAdvanceAmerica, where I still owe them money and DO NOT want a stopped payment on the money I ower?

Thanks,

Marcin

Push for refunds where they're owed. You may not always get them but, at least you won't be giving them any MORE money.

For the legal lender, simply let them know you had some fraudulent activity on your account and had to close it. They don't need to know you have a new account. Pay them with a prepaid debit card.

Ok, thank you. I will go an open a new checking account this week and direct my future direct deposit to that account. I can then use that account to pay off the lenders (via Pre-Paid Debit Card) that are legitimate. Let me just sum up and make sure the information is correct before I go ahead and send any letters. Are these lenders that are "not licensed in WI" ones that still require just a principal payment? On many of these I have made the principal payment many times over already!

Zip19 - Not Licensed in WI - Get refund for all interest payments made thus far above loan principal
AdvanceMeToday - Not Licensed in WI - Get Refund for all interest Payments made above loan principal
IntegrityAdvance - Not Licensed in WI - Get refund for all interest Payments made above loan principal
CashNetUSA - Pay with DebitCard on New Account
VIPLoanShop - Not licensed in WI - Get refund for all interest payments made above loan principal
WhisperLoans - Not licensed in WI - Get refund for all interest payments made above Loan Principal
BaysideCash - Get refund for payment made, nothing has been given to me
Spot On Loans -Not Licensed in WI - Get refund for all interest payments made above Loan Principal
CashCure LLC - No idea, is this licensed, or can I get a refund for interest payments?
Alpine Direct - Not Licensed in WI - Get refund for all interest payments made above loan principal
JHS Marketing - Not licensed in WI - Get refund for all interest payments made above loan principal
500FastCash - Not Licensed in USA - Get Refund for all interest payments made above loan principal


I believe that includes all of my loans, with only one being legitimately licensed. Does the information I put above correct reflect your response? If so, I will continue under this assumption.

Also, do i need to write physical letters, or should I do emails or just phone calls to these non-licensed companies?

Thank you,

Marcin

Emails are fine, you just need to inform them "in writing" of the ACH revocation and the wage assessment revocation. And you'll need to give a copy of these emails/letters to your bank (if anything gets through the old account) and to your employer (HR/Payroll dept) as a preventive measure. Fax is also fine, just don't fax it from work because they sometimes send "collection" faxes back :)

CashCure is also not licensed in WI.

Yes, you seem to have everything listed correctly in your post. Don't let their scare tactics work on you. File your complaints with the FTC and the WI Attorney General and stick to your guns. YOU are in control. These people are liars and thieves. They will tell you all kinds of untruths to try to get at your money. Do NOT let them win!

Keep us informed on your progress.

Hello -

I was wondering, if anyone knew the statute in the Wisconsin law that allows me to write and demand refunds for all the overcharges on my account. This is the closest I could find to something that supports my case :

(2) LICENSE REQUIRED. A person may not originate
or service a payday loan involving a Wisconsin resident
without first having obtained from the division a license
under sub. (5) for each place of business at which the person
originates or services payday loans involving Wisconsin
residents. Such a license is required for, and this
section applies to, all payday loans made to a Wisconsin
resident, regardless of whether the loan is made by face???
to???face contact, mail, telephone, Internet, or any other
means.


I am not sure if this will be enough, or if I need to include more legal code. What should I use for my legal backing?

Marcin

Hello -

Just wanted to update, that I have sent emails to all 12 (!!!) Pay day loan companies with which I have accounts, that are illegal in Wisconsin. I have not yet talked to the one legal lender, but plan to do that shortly.

Because my bank was unable to put a debit block on my account, I am hoping there aren't serious repercussions right away from this. However, I have a copy of the emails that I have sent, and can use those to file an affidavit with my bank if more transactions come through. Wish me luck!

Marcin


PS: I did some calculations. Some of these loans I still owe money on (40 for one, 120 for another) not a lot. Some of these corporations have charged me over 1500 dollars for a 300 dollar loan! I am hoping for refunds, but unlikely they will come.

You need to close your account! Blocks don't work.

See the upper left of page 20 (138.14 (13) (d)) for legislature supporting enforcement.

They are able to close my account. However, I was told that even if they did so, any ACH could re-open it without issue and I would be liable for extra fees.

Thank you for the supporting legislature! I will look into it and shall use it in future emails when requesting refunds.

I did get an answer to one of my letters that went like this:
Quote:

This is the standard response from offshore companies. They're wrong. The laws of your state prevail and, if you read the section of the legislature I provided, it clearly states that if the lender isn't licensed in your state, they cannot enforce the loan.

There are no federal payday lending laws, yet. However, as a general rule, when there are both federal and state legisation for an issue, the more stringent laws will prevail.

Just reply to their nonsense with your state laws (again) and let them know that YOU know that your state's laws prevail and that they are incorrect :)

Oh, and as far as your bank goes, if your account is closed AND you've shown them proof that you revoked ACH permission from these companies, they have to reverse the charge and refund any fees. You may want to go up the chain a little higher if they give you pushback.

Hello everyone -

Sorry it's been so long since I last replied. As you can imagine, its been hectic! Here are some updates

Zip19 - Haven't heard back
AdvanceMeToday - Wrote back saying they were a St Vincent based company. I wrote back saying it doesn't matter (basically). Haven't heard back
IntegrityAdvance - Agreed to PAID IN FULL, still pushing for a refund (they owe me about 1100, pushing for a refund of 500)
CashNetUSA - Revoked ACH, paying with prepaid debit on due date
VIPLoanShop - Responded but saying I owe them 520. It was a 400 loan and I already paid back 120, so pushing for 2 payments of 140 to pay it off.
WhisperLoans - No reply, sent another email for followup
BaysideCash - Still haven't gotten a refund, but no outstanding loan with them
Spot On Loans - Waived fee so long as I pay back 300 in principal by 10/28, no more ACH either.
CashCure LLC - Responded as Paid in full
Alpine Direct - Not Licensed in WI - Agreed to Paid in full - No mention of paying back the 1500+ they owe me.
JHS Marketing - Agreed to Paid in Full - No mention of paying back the 1500+ they owe me
500FastCash - No response yet, sent follow up email.

Is there anyway to push these companies to respond? I have filed complaints all around but I can't "force" them to respond in any way.

Cheers

You can't really force them to respond. Just keep resending your email.

Congrats on your progress thus far. For those that have agreed to PIF but haven't agreed to refunds, keep at them. Continue to send emails stating that you understand they've marked the loan PIF but ask when they intend to send you the refund check :)

Hello -

I got a call back today from AdvanceMeToday.com. The lady seemed very upset :( However, she said that after my email they tried to collect the entire amount (650 dollars = 500 principal + interest payment) but was denied by my bank. Also, if i don't respond to setup arrangements to pay she will have to put a wage garnish into effect. Now, I believe that even if this is tried, its a long process with the legal system before it would even be put into effect. However, whats my best way to approach this situation? Do I push via email that I have already paid my 500 principal through the 4 interest payments of $150 that I paid? Or do I try to talk to their resolution dept? She says they are federally licensed and my contract with them would hold up in court. My original email stated that because they are unlicensed in Wisconsin, the loan is invalid and I only owe that principal that I have already paid. Do I have any recourse on this, or do I play it out? Even federally, they should stop ACH after getting my revocation but they did not, does that help my cause? Any help on this would be appreciated.

Marcin

advanceme today is full of it.there is no federal anything in regards to pdl's.they are talking about a wage assignment as opposed to a garnishment.if you haven't given your HR/payroll person a wage assignment revocation letter.do so asap.they would have no prayer in court and hope they can use alot of BS jargon.get that letter to your employer and respond this way to that stupid message vial email like this.

you must think i'm really that ignorant as their is no federal treaty,law,or guidelines for pdl's.don't try to BS me.if an out of the country pdl like you can take me to court in WI then do it.i doubt it though and am not swayed by your message.in fact it is getting played for my AG right away.

i would respond that way after you give the revocation letter to your employer,and file an AG complaint as well.