Took out a loan from Eastside Lenders for $950.... - I live in CA
Date: Wed, 10/17/2012 - 08:19
Was seeking advice online about how to deal with Eastside Lenders. As the title says I took out a loan from Eastside Lenders for $950 this month. They were not supposed to take a payment from my account until Nov 1 2012 and they have already taken $50 out causing my account to go negative because it was before a payday. On advice of my bank I closed the account and opened another. The new account info of course will not be shared with Eastside Lenders or any of the millions of other scammy payday loan places that keep emailing or calling me that I did not apply directly with. This loan was taken when I was in a pinch of course like many others and their taking money on dates other than pay dates makes it extremely challenging for those of us struggling to survive and budget. I was already stressed and worried and this only adds to it. Im rambling.....anyway here are my questions....
Questions............
1.) They are in DE and I am in CA - do I legally owe them anything?
2.) Are they even licensed to do business in CA?
3.) If an ACH is presented on a closed bank account will the bank hit me with fees and process that payment?
4.) Should I report them and if so to who?
:confused:
Q: Took out a loan from Eastside Lenders for $950.... - I live i
you have to pya it all is what i was told by the company
Ignore the unregistered poster above me. He/she doesn't know wh
Ignore the unregistered poster above me. He/she doesn't know what he/she is talking about.
Eastside Lenders is unlicensed in CA.
Legally, you don't owe them anything. Ethically, you should repay the principal balance of the loan and repay it on your own terms. I suggest getting a prepaid debit card and doing it that way.
Thanks Ohiogal - Took out a loan from Eastside Lenders for $950.
Thanks for the advice Ohiogal - I was contemplating the prepaid card thing. That is a good idea to repay them. Aside from repaying them that way do you know if they will come after me via wage garnishments and so forth given they are not licensed to do business in CA?
In your state
In your state it is most likely illegal for them to do any garnishment if they are not licensed would be my assumption. I am sure some others have advice on this topic because I am not familiar with them.
If you read the steps in my signature link, you'll see that wage
If you read the steps in my signature link, you'll see that wage assignments are voluntary and you will be revoking any that you may have signed. You will also be giving a copy of that revocation to your employer.
The only way they should be able to garnish you is if they sue you and win a judgment against you, which, let's face it, just isn't going to happen where an illegal lender is concerned.
Took out a loan from Eastside Lenders for $950.... - I live in C
Very good point Ohiogal - thank you for the good advice. I appreciate it and you put to rest alot of my worries. Im only going to repay the principal bal on a prepaid deb card then. I appreciate it again.