Internet Loans and Indiana: HELP, PLEASE, ASAP!
Date: Fri, 11/04/2011 - 06:04
Hello, I've been trying to read on the site to find out what I can do to get out of the PDL cycle. I got into the trap and used one to make sure I could pay the other. Now, I'm up to over 10 and my paycheck is gone the same day I get it. I am afraid of litigation if I close my checking account. Please help.
I read a thread concering closing the bank account and sending an email to each of the lenders, asking them to prove they are licensed in Indiana. Am I correct that this is the first step? I copied the sample letter, which is great, thank you for posting!
What about the contracts they make you sign? If they are not licensed in Indiana, does that make the contract null and void? Also, if I've paid way over what was originally borrowed plus the initial finance fee, how do I ask for a refund? Would I have to go back through my account and determine how much I've paid them and then request the difference? At this point, I don't care about a refund. I just would like to be able to work and see the money.
I know it's my fault for getting in this mess, but after everything I've read, I see I'm not the only one who's fallen victim.
Thanks,
AJ
I read a thread concering closing the bank account and sending an email to each of the lenders, asking them to prove they are licensed in Indiana. Am I correct that this is the first step? I copied the sample letter, which is great, thank you for posting!
What about the contracts they make you sign? If they are not licensed in Indiana, does that make the contract null and void? Also, if I've paid way over what was originally borrowed plus the initial finance fee, how do I ask for a refund? Would I have to go back through my account and determine how much I've paid them and then request the difference? At this point, I don't care about a refund. I just would like to be able to work and see the money.
I know it's my fault for getting in this mess, but after everything I've read, I see I'm not the only one who's fallen victim.
Thanks,
AJ
not only that but
list the following
1)names of each lender
2)amount borrowed from each
3)amount debited by each thus far
if the lender isn't licensed then yes it is an illegal loan,and if as you posted you paid the principle(which is all you would owe)you owe nothing,and as far as refunds go.secure/close your account first.any legal loans(if there are any)should work with you on an alternative payment plan.the illegals can't do diddly squat.so please provide the info requested.we can help you here.
