Help! Need advice Please! Urgent!

Ok..Well first United Cash Loans is full of hooey! Have you paid back the principal amount yet? How about appropriate interest rates allowable for your state?
UCL won't prosecute anybody if they aren't licensed in your state.
As for your friend, she should probably go that bank and talk with them. It's hard, I know I've done it. But not doing anything will be worse for her.
Have her explain her situation to them. She is obviously having financial difficulties, and she needs to let them know.
As far as bank fraud? The bank could probably get her for a judgement and garnish wages. I doubt they will prosecute her, but not can't be sure.
The best way to avoid any of this would be to make some arrangement with the bank for a weekly or biweekly payment and stick with it.

Thank you for the reply.

1. Nothing has been paid on the second loan at all.
I paid off the first one through United cash loans; however I have not heard anything for a month now. I'm not ignoring them; the person would call me at least twice a day and leave a voice message.

Now a month later and nothing at all, that's what concerns me. They were so persistent and they know I paid off the first loan and now nothing, I forgot to mention that the person helping me on United Cash loans said that she was afraid for me. We actually had chatted several times about family, weather and all, very nice to talk to but her last voicemail to me sounded like she lost her best friend.

She said this is out of her hands now, I'm really afraid that they will go to my county prosecutor.

The second issue is that she did place 100 dollars into the account before they closed it. Now this is with a CA, should she deal with them or call the bank and try to work out some sort of agreement.

What state are you in?

Secondly, your friend could go to the bank and see if they will work with her without the CA. If I were her, I would physically go to that bank and speak with the manager. See if they will pull her account out of collections. It may even help if she brings some cash with her to show that she's willing to pay this account.
If it stays with a CA, it will go on her credit file as well as Chexsystems and be harder for her to open another account in the future, if it hasn't already.

I'm In California

Here's some info on California payday lending laws. You may want to formulate a letter to UCL including the amount you're willing to pay with the appropriate interest rates on your loan.
State that you will only communicate in writing or email.
UCL is most likely not even licensed in Ca. Their licensee database website was down when I tried to access it, so you might want to check it yourself.
Don't worry too much about UCL prosecuting...they're in alot of hot water right now due to their illegal activities!
Quote:

I would also report them to the Cal.Dept. of Corporations at the number listed, as well as your Attorney General's office.

You are great! thank you! :D

Scared, In regards to your friends situation with the bank, I myself, Last July had my account overdrawn by almost $900 (see my story) and was sent to chexsystems, which was preventing me from having even a savings account and to a collection agency. I was scared too. However, I went into my local branch and talked to the branch manager, explained the situation and that I really wanted to take care of it. I promised to pay $200.00 per month, with a first payment that day of $150.00. They agreed to do this, it did stay in collections however, I made the payments to the bank directly (keep every receipt for later proof) and when it was paid in full they took me out of collections and out of the chexsystem. Before I knew it I was paid off and on my way to a good bank account again. Hopefully being upfront and direct with the bank will help your friend. Good Luck to you both.

I had the same problem years ago when going through my divorce and my soon to be ex wiped out the account to get even with me, leaving me with utilities/etc.. outstanding and two mouths to feed that also needed medications for their seizures. The account had NSF's out the wazoo because of this. I was able to save up and did the same thing went directly to the bank and paid them in full and that day they allowed me to re-open my account. I was sent to a collections agency, but never threatened with fraud or anything criminal, I didn't do anything that would lead me to be charged with that, it was all out of my control.

Amy, sounds very similar to my situation, could be the same ex :) Hope all is well with you now. Pauli'sGirl

I posted something last week in regards to California and the pdls. If I remember right, United Cash Loans isn't allowed to loan there anymore.

You are right. I think that was on Sept 8th, 2006. If you go to the CA AG's website I think there may be a link to that situation and I believe they are making the companies pay refunds to all of their customers. GO CALIFORNIA! The interenet pdls are to cease and desist immediately doing the loans.

does anyone know the laws here or where i can find them ?

If you are in CA, go to the Dept of Corporations website. You can reach it thru the state page, there's a link to it.

regarding your friend, she did not comit any criminal act. The worst the bak could due is sue her to recover the money. AS others have said, go in and talk to the bank and work out an arragnement.

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I searched and found the News Release issued 9/8/06. Go to the http://www.corp.ca.gov/pressrel/06/corp/news.htm
you will find the press release in which it states that 4 online pdl companies were issued desist and refrain orders: these include ameriloan, USFastCash, PreferredCashLoans and UnitedCashLoans. The release states alot more than just that but those are the 4 mainly addressed. The release also refers to Internet Cash Advance Marketing Inc, of Vancouver BC & president Clive Boulton which is:
Internet Cash Advance Marketing, Inc.
2000 - 1066 West Hastings Street
Vancouver, B.C. V6E 3X2
CA

They are Rio, Ameriloan, United Cash Loans, National Fast Cash...

I know it only mentions those in particular, but CA has banned all internet pdls from doing business with CA residents.

unfortunately there will still be those of them that will loan here

I have four pay day loans out. I borrowed from one to pay another, and it snowballed. I went to the bank to close my account. Unfortunately, when I closed my checking account, one check I had forgotten about did post as well as an ACH debit, which was authorized (I had attempted to contact this person to make arrangements to pay in cash, but it was too late - he had already sent it through). Because of this, the bank says they have to keep the account open for 30 more days. In the meantime, these places are still trying to take money out. If I want to stop them, I have to put a stop payment each time I want it stopped and for each company, at a price of $34 apiece. I have contacted all four companies, who have basically told me that unless I set up payment arrangements with them, they will continue to attempt to take money out, that they have no control over it. I offered $100-200 a month, which they said they could not accept, it was too low an amount and that the interest would keep building. I guess I should tell you what the original loan amounts were and from where. CashNetUSA was for $800. I've borrowed from them 6 times now in amounts varying between $200-$800. I have paid at least $800 in interest alone with all the loans combined. They said I can make two payments of $459 each or three payments of $339 each, but these payments would have to start immediately. Again, they said if I paid anything less than that, the interest would keep building. The second was with National Opoortunities, aka I believe as itsmypayday. My original loan was for $200. I have been paying on just the interest ($50 twice a month) for at least four months now. The third is with XpressCash/Loan Shop. The principal was for $300, and I have paid an interest fee of $90 twice a month for at least four months now. The last was with Interim Cash Ltd. I borrowed $200 and have not paid anything on that yet. I called all four companies today, as suggested by another site, and told them that I no longer authorize them to take money out of my checking account, to which I got responses, as stated before, that basically I could request it, but it was out of their hands, they couldn't stop it. I asked all four companies for their addresses and told them I would be writing a letter stating that I was not authorizing any further debits to be made. I don't know what else to do. Is there a limit to how much interest they can charge me? (I live in Ohio). Any information you have would be greatly appreciated! Thank you.

Hi.

You're not alone, I have been where you are, as have many of the other people on this forum.

These people will not stop taking out money, even if you do set up a payment plan. Trust me. Since these are all internet lenders, the only way to stop them and not pay a fortune or leave room for error is to close your account entirely and open another. No one likes to do that, but sometimes it is the only option.

I can help you figure some things out here..But you will need to register with the site first. In order to communicate with the forum memebers here effectively, you will need to be able to pm..And you need to be a member for that. Also, a counselor will call you after you sign up, and they can also give you advice, and possibly even suggest debt consolidation.

So please join us..And you will get a lot of help and advice here.

Something sounds fishy about that fraud threat. I would call someone and check it out. Your States fair debt collection division or whatever its called.

Actually making false claims of fraud is illegal so if your friend confirms that it is a false claim then perhaps she can use that to get the bank to settle.

Now if she was writting active checks that bounced then thats a whole other issue.

guys, i live in California. Had a $300 loan with SJM Marketing/ Platinum B Services. They've been taken over $1200 from my bank account since jan until now. Is there any chance i can get a refund from them??? What should i do now??? Helppppp...

Steeler, can you post the link for us? Thanks.

Look for the Deferred Deposit laws for the state of California it gives you the who, what, when and were for the state. California is highly regulated and 80% of the online PDL companys know this. I had four different PDL and had the means to pay them back. One of them got a little greedy and raised a red flag with my bank account. I started doing research and found the laws for CA. If any PDL company enters into a contract with a resident and the company is not licensed then the contract is null and void. Once the company finds out you know this they stop bothering you. But you have to be smart and know the feds laws with CA laws. What ever you do DO NOT MAKE any promises to repay any portion of the loan until you have followed up with the enforcement divison. Change you bank accounts if you can they will try and withdrawl funds by ways that you can't even imagine.

Why respond to a 2 year old post?