6 Loans in NJ

The link in my signature line has the instructions on how to deal with these lenders. Follow all of the steps.

Thanks,

We are going to do this, but my wife is concerned because she can get in big trouble about getting phone calls at work.

Any idea on where the exact law in New Jersey is?

This whole situation is a mess and beyond frustrating.

Thanks for your help

New Jersey Payday Loan Laws

State Legal Status
Lending of payday loan is considered prohibited in the State of New Jersey.

Interest rate cap on small loans
30%per annum

File your Complaint and get Information

• Regulator - New Jersey Department of Banking and Insurance
  
• Address - 20 West State St. Trenton NJ 08625
  
• Phone - (609) 292-5360
  
• Fax - (609) 292-5461
  
• Regulatory Contact - Ludi Hughes Assistant Commissioner
  

Well, we just got back from the bank.

We closed one account and the lady said that if a charge comes through, they may reopen it and charge us for it? Plus the bank fees? Is that possible???

The other one we shut ACH for each of the remaining four accounts, but we had to pay $33.00 per paydayloan to do that.

Very frustrating, but I guess 33 is better then the other charges.

You need to go back to the bank and ensure (get it in writing) that no transaction will reopen your account. You're closing it for your protection. If they cannot "close" it completely right now, ask that until it's fully closed, it's put into a "deposit only" status so that anything presented other than a deposit will be returned unpaid, with no fees.

How do you get that done if they tell me it may not be done.

Very frustrating.

Well I have written two e-mails so far... One to US Fast Cash and and to United Cash Loans. They were over paid 565 and 585 respectively. Do we really stand a chance of getting the over payment of refund?

My wife is terrified of them coming after her and that they can still do something by law. What do we do if they do come after us?

There should be no charge for ACH revocation..,,it is YOUR RIGHT under federal law. You should go back and fight that charge.

Maybe a little fear is good for your wife. But between you and us, even if they attempt to sue, your defense would be that the contract is invalid because the state of NJ prohibits this time of lending. Pretty simple.

I agree about the fear. I hope the letters work, getting the refund would be a great help right now with our finances.

Is there anything I can do to show them that they should not charge me for the ACH Revokation?

They put it through as a stop payment on all future payments from those 4 company's on that account. Is that correct??

I can't thank you enough for your help, you have been a blessing during this rough period.

ACH revocation is different from stop pay. I worked at wells...they were coded completely different. We charged for stop pays....ACH revoctions are different...you dont pay for those.

I saw the form on her computer they filled out. It actually said Stop all future ACH Payments. Is that the same thing?

I am going to go back to the manager tomorrow and explain what happened. I have such a migraine from all of this.

Sorry to bother you again.

So this is what I want to do tomorrow.

Go to the manager at the bank and tell them I came in yesterday for ACH revokation on this account, but instead they put in stop payments. I do not want stop payments because they charge for that and it is my right to do ACH revokation.

I just want to make sure I do not sound like an idiot when I go in there.

It's called Regulation E and they must abide by this federal law. What you need to make clear to them is that you've revoked ACH authorization with the lender and you need them to back you up to protect yourself.

Why aren't you just closing the account and opening a new one?

Because my wifes direct Deposit is going into it this Friday. We already opened another account with a different bank and switch direct deposite, but it will not take effect till her next check.

The good news is we received some responses back today from the e-mails. The two we haven't paid a dime too yet were especially eager to settle for the original $500.00.

One sent us an e-mail that makes no sense to either of us and we wrote back asking to explain.

The two she has over paid wrote back and said please give them 3-4 hours business time to process the e-mail, not sure what that meant either.

Ask your banker to allow only deposit transactions on your account. Then close it after you get the check on Friday.

That way, nothing will go out of that account.

Deposit only status is what you need until you can get that account closed.

OK, accounts are all closed.

Called payroll at the USPS and they said the only way they will take anything out of pay is if it is court ordered.

So does that mean I am safe from this? THey never heard of ACH Charges coming out of my account.

Just a quick update...

The two that I over paid have closed the accounts, they had not contacted me back about if I will receive a refund. They are US Fast Cash and United Cash Loans

The two I had not started paying back at all, Fast & Reliable and Integrity Advance both have agreed to let me pay back Principal.

The two that I have partially payed back are being the hardest.

Cash In a Wink has said they will contact USPS. They texted me saying if I did not contact them they would USPS since my account was close and supposedly never received my original e-mail. I resent it and they texted back that they received it. Since then I have not heard back from them. $280 is still owed on the account.

Everytime I e-mail with Pepper Cash, they come back with a lower offer. I only owe them 120... But they are being difficult.

Help, please.

You just keep at them. If your account is safe and your employer has informed you that they won't honor voluntary garnishments/assignments, then you're safe.

Keep telling them the same thing until they get it or until they go away.

Thanks!