payday companies

Terri,

Are you talking about Paycheck Now? I think you have misspelled the company name in your post-

Paycheck Now
2040 Main Street Suite 200
Irvine, CA 92614

Can't get any info on ???magnumz', you can search BBB website for more help.

Please help Magnumz has issued funds into my account, there is no contacts numbers for this company, I need to reach this company. I feel like this is a scam to keep debiting my account. please also if you can email my personal email with info. Thank you


email address removed as per forum rules - Mike

Magnum Z (debt doctor) - 888-276-4189

if magnum z is the debt doctor why haven't they contacted me about my loan since nov. all the keep doing is taking out money every other week. I don't have an email or number

They will continue to take money from you until either you arrange to pay them in full or you put a stop to it.

Here is the info for Magnum Z
1403 Foulk Road Suite 203 Foulkstone Plaza
Wilmington, DE 19803
Phone Number: 888-756-2607

And Debt Doctor
Debt Doctors
P O Box 126
Wentzville, MO 63385
Telephone: (888) 276-4189


If you would like to deal with this company and end the cycle, we can help you. We need to know what state you live in and the total of how much you have paid to them.

I live in wisconsin. They have taken out about $500 already.they said nothing about all these charges. I haven't heard from them about paying it off. I think I have pay them enough money now. They don't need more.

How much did you borrow and in the meantime here are the laws for your state Wisconsin (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I only took out $200.00

I do believe they've gotten more than enough! Have you done anything to prevent them from debiting your account any further?

no I haven't done anything. I don't know if I should block them from taking out anymore money. I don't want to get into trouble.

kenzie, why would you get into trouble? Do you mean with your bank? Or do you mean with the pdl? You've paid $500 on a $200 loan. I do believe you've paid your debt PLUS some. They will continue to debit (as you can tell) forever. Do you have any questions about closing your account? It's kind of hard to just "block" a pdl. They will use a different name, different amount, send an electronic check through, etc. to get money out of your account.

I just don't want to get something in the mail saying I have to pay this amount or the collections people will be knoching on me door for the money. I do believe I paid enough since they never have gotten intouch with me about everything.

kenzie, I do not believe these guys are even licensed/legal. You will most likely have to close your bank account since they have your information. They will continue to debit you forever. They've already gotten $300 more than the loan itself. Do not allow them to take any more money. Can you get your bank account straightened out? Like I said, just 'blocking' them will not work. They will use a different name, they will put through an electronic check. They will do whatever they possibly can to continue to take money from your account. Please read the following regarding closing your account. If you have any questions at all, please post. We can help you.

Before you close your bank account due to payday loans eating away at your paycheck, please read this.

Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.

If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.

It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.

Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches!


Last edited by goudah2424 on 17 Jul 2007 15:25