I've been Playing the Payday loan Game

Hi dreeves

I am so happy that you have learnt from your mistakes and wish to become a responsible human being in the future. Your credit report is one of the most prestigious financial document and you are willing to take every possible steps to improve it. Seeing your dedication, your children will learn from you and never repeat the mistakes that you have made.

We all make mistakes some time or the other, but the most important thing is that we should not keep on repeating it. I am happy that you are able to realize it before it becomes too late. It is evident when you say you don't need anymore payday loans. Take care and keep in touch with us.

Regards
Roxette

Dreeves,

I can relate to your story as I too got caught up in the payday loan game. It's an easy cycle to get caught up in but hard to get out of. I'm with debt consolidation now and it's been a blessing in my life. This forum has been a blessing because I know that I am not alone.

I'm in the "payday" club, too! :) Luckily my tax return is going to bail me out of the mess, and I refuse to get back in.

Yes, it is very easy to get the money in the account, but near impossible to get out of it.

dreeves, loansharking is the appropriate word and odds are it is illeagal in your state. Not that you can get into trouble but the Money Lenders charging these high rates can.

There was recently a 2mil lawsuit in which QuickCash had to pay back all Colorado residents who loaned with them. Arm yourself. Spend some time looking up each of your lenders. Find out where they are from and look for any class action suites filed against them. Also peruse the forums here and find out what others have had to go through with your lenders.

As I posted in another thread. Your checking info is no longer safe. Even if you have paid them back and not reloaned. If you took out a payday loan then its sitting in some sleazy database somewhere open for a potential unathaurized attack.

In dreeves case. You may have no other choice than to give your checking account the old Vikiing Funeral and get your direct deposit stopped. Do this before the loans hit your account so you are not responsible for any NSF's. Swallow your pride and fully disclose what has been going on with your banks representative and make sure to do this in person. Part of the intimidation is people being too embarrased. You have to get over that.

Time to get your paycheck back and deal with these places from there. Remember the loans you have are potentially not even legal loans. Spend some time researching lending laws in your state and do not be ashamed to call your states attourney office to ask any questions. Tell them whats going on.

Yes,Glynnie is correct,your checking account information is now all over the internet,you dont want to feel good about paying off these loans,and then 3 months down the road,your checking account gets drained by one of these sharks.When I closed mine,I just told the bank that I had an unauthorized debit and wanted to close my account and reopen another,they did it over the phone in 5 minutes,they will even let you list which debits you want to transfer to your new account,like auto payments to internet service,etc.They even transfered my direct deposit for my paycheck until I could get it changed at work.

I went to my bank after finding out the online lenders were still trying to debit my account and they put my account on a credit only status but said they would not refund any of the NFS charges($800.00)because it was not a banking error. They wouldn't let me close the account and open a new one because of the overdraft. I have contacted the Deputy Administrator of Consumer Affairs in our state and he requested the names of the online lenders so he can find out if they are licensed in our state. If they are not, what happens next?

jloomis, if the lenders are not licensed in your state, they don't get a legal stand to have your money, especially after you have filed a dispute on their debits. With the help of your attorney or after filing complaints with the attorney general's office, there are chances of getting your money back. You will need to write letters to the company also claiming for a refund.

What companies do you owe? How much was orig loan and how much have you paid? What state do you live in?

I owe oneclickcash, checknGo, cash direct express, 500 fast cash, cash advance payday loan to-1000, cash net usa, and cash transfer center, and to tell the truth there have been so many debits to my account and NSF charges that I don't know anymore who got what. I do know that there were debits made on any given day when i did have money in the bank and some of these people were just helping themselves. I thought they would stop when i told them that the money would not be there and not to debit my account. Thought i was ok till my bank called after i got out of the hospital. I explained to the bank what had happened and that these people were notified not to debit, but they weren't very understandin, just put my account on a credit only and could n't help with the NSF charges. I just got released from the doc today and return to work Monday, so, there's no way I can cover the overdraft and pay my regular bills before they close my account. I know they won't wait very much longer for a deposit. I want to get on the consolidation program here for these loans and my newly aquired medical bills, after insurance they will be around 3500.00. But i don't know what to do about the bank fees, they won't keep my account open unless i make the whole 800 deposit real soon, like in a few days.

just got an e-mail from cash transfer center saying since my loan with them has been paid that i am eligible for another 300.00 loan? How can that be? Maybe they have been contacted by the consumer affairs?

By the way, I am in Oklahoma

opened the e-mail from cash transfer center and checked the loan status, says amount owed is 0? I haven't sent anybody any money, and i don't dare e-mail and ask them how they got paid off, cause it sure wasn't me who did it.

I'd archive that email and the next time they say you owe them, turn right around and zap that one on them!

That's right, you have proof you owe $0 if that's what the e-mail says.

already saved it and printed it...says it was paid off on the 7th of this month, but i got a nasty call a day before i contacted the consumer affairs division and i remember now that i did check the loan status and it said 465.00, that was a few days ago.

I am also in the Payday loan club, but I did not do payday loans on line. I went to a payday loan place in my area, they are all over the place(I live in SC). I almost did one on line to try to cover the one I have out there, but I knew I was already in a mess with one payday loan place, I did not want to juggle any more. My payday loan is due today and I am not sure how I am going to pay it, for I do not just have to pay the intrest for the last two weeks, I have to bring in the whole aount of $690 ($90 is the intrest) Then I can re-write and get $600 back, I know I need to get out of this cycle but I do not know how... I am here because I am ready to get my finances straight and not make the same mistakes that have gotten me in this mess. Hard lesson, but I think I have learned :-) I also hope others find this sight and use it before they even think of getting quick money from a pay day loans. I don't think my response was probably what you were looking for, but I guess I was just trying to let you know that a lot of us have gotten trapped into things we are not very proud of.

I've the same problem like jloomis_1. I've had like 7-8 payday loans and i told them not to do any ACH debit as i don't have enough money in my checking account but they just go ahead and did it anyway. I've notified my bank two days before my payday loan dues and they said that they can stop it but i will cost me $25 for every transaction. Well, i figure it's less than the cost of NSF and OverDraft fees so i told them to go ahead and do it. This morning i check my balance and it is -$1800. I dont know what to do now. I've tried to closed my checking account before and they said that in order for them to closed my account i have to made a deposit to cover the NSF fees. Any advise??? I'm banking with WellsFargo. Thanks guys.

Recieved an e-mail about 30 minutes ago from the chief examiner of consumer affairs about my complaint.Gave me the name and direct number of the person handling my complaint. Once a complaint is handed over for investigation how long can it take to hear back? If the lenders are operating illegaly in my state am I due a refund on the NSF charges due to illegal activity? Or am i obligated since i'm the one who took out the loans. The principal balances don't bother me, the debits to my account on any given day causing the overdraft does. I had 25 NSF charges in a 2 day period alone. That's not all of them, but just to give you an example of how hard they hit me in a short amount of time.

I too, had a bunch of overdraft charges related to PDLs but it was a bit different.

I went into my bank and place a hold on my account until my husband and I could go to the bank together to open a new account. In the interim, one of the storefront check cashing centers went to my bank to cash my check. The teller removed the hold to cash the check and never put the hold back. That night, $800 in PDL payments hit my account, and naturally, caused a HUGE overdraft!

It took me 6 weeks, but my bank has finally refunded all of the fees...I'm still fighting with them over what are technically unauthorized charges. The fraud department won't work with me because I had previously done business with these fools, and since I "received benefit" (the bank's words) from the debits, the bank isn't willing to refund me, even though it was clearly their mistake, and they admit that it was their mistake!

Isn't life fun in PDL hell?!?!?!?!?!?!?!?!?!?

Pernoleum, who are you bank with??? I'm banking with WellsFargo, also live in CAlifornia. Anyway, had the same problems like you. Everytime, i filed a dispute with my bank, they said they would have to investigate and would take them couple days before i can hear back from them. Well, i didn't get any refund back from my bank, they said most of those are authorized ACH debit. I'm getting tons of NFS and Overdraft fees every paid period. They won't even let me closed the account for some reasons not to mention everytime when i called the bank 800 numbers it costs me $2. Feel helpless right now.

Hi Sammi! I bank with US Bank...but I'm sure it's pretty well the same everywhere! Have you gone into the branch and talked with someone there? I got a lot better results when I did that. Like I said, I'm still fighting the fight, but I know I'll win eventually. :D

What I've actually done is gone to a completely separate bank and started over so I can still function in the world while I fight with UBank. I think the day I break free of that bank will be almost as huge of a victory as the day I officially retire from being a card carrying member of the PDL club!

Hang in there...you can always PM me if you just want to vent and feel the need for a little support!