PayDay Loan Debt Collectors

By federal law, the collection agencies can't threaten you. Nor can they call you at workplace repeatedly. So, you should file a complaint with FTC to teach them a lesson. Yes, you should not have taken out so many pdls when you couldn't afford to make payments on them. I think you should contact your bank and work out some payment plan. You can also take advantage of payday loan consolidation to pay off the outstanding loans. You can check out the following pages to know about the ways to get out of payday loan debt:

http://www.debtconsolidationcare.com/paydayloan-consolidation.html
http://www.debtconsolidationcare.com/forums/merge-payday.html

Thanks for the advice, my question shouldv'e been placed in the pay day loan forum. I found excellent information there that has helped me considerably. Finding out the companies I dealt with are all illegal in my state.

I am getting my letters done and sending them off. No need to close my account as the bank did that, and I opened a new one elsewhere.

This all took place 2 years ago, some have never "come after me", but just a few keep up the emails, just 1 company keeps calling. I've done what most of the moderators in the pay day loan forum state.

As far as Wachovia goes for there fees, i'm going to send a letter to the bank, and see what happens. Because of all the fees I paid on the loans, and the fact that i'm only responsbile to pay back what was originally given to me, they have received all the money they are entitled to.;)

Federal Check Recovery is an illegal Internet payday loan company posing as a "check recovery service" or a 'collection agency'.They call people who have taken out payday loans on the Internet and lead them to believe they are a collection agency, or worse, a check service which reports people for "bad checks", without going into detail, the name of this company says it all. Basically, they are another Internet criminal with fake names who makes bogus threats they can't follow through on. Read my thread on how to deal with illegal lenders, [URL=http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html]CLICK HERE[/URL].

By the way, I am moving this to the payday loan forum so more people will see it.

Linda G: I ran into a similar situation with my bank where they allowed ACHs and I wracked up a number of NSF fees. I complained to the NJ Dept. of Banking and was able to get it resolved.

I would suggest that you write a complaint letter to whomever regulates the banks in your State, telling them that your bank is in violation of the Electronc Funds Transfer Act, Sec. 205.10(3c) wherein you verbally requested them to stop the ACH transactions. They refused and you incurred these outrageous NSF fees.

I would send a copy, certified mail, return receipt to the President or CEO of the bank. If you can file the complaint on-line, then I would send a copy of it along with a letter to the CEO.

You might also want to include that portion of the EFTA in your letter to the bank. Should a collection agency for the bank contact you, you need to write them (return receipt) and advise them that the debt is in dispute, giving them copies. As long as you inform the collection agency that this debt is in dispute, they cannot harass you; I would send this letter ASAP to get them off your back.

good luck and keep us posted.

It's Linda G .............Shazzers & Aubrey ......... I'm definately going to follow your advise.

I live in North Carolina, and the bank is Wachovia. I have to obtain copies of my bank statements for the months involved.

I received a collection notice today from no other than BCR! They are ruthless, calling my house at least once an hour, the name appears on my caller ID, then the next one comes up as a local #, but I only answer the phone if it's from someone I know, as it's an unlisted #, I didn't have this phone # when I received my payday loans, and I haven't applied for any credit, so they are very good at tracking you down.

The letter I received is a weird amount if each transaction was a 35 NSF fee, how could it come to $4,79.52? They much be adding interest or someone on it.

Also do payday loan debts get reported on your credit report? I only ask because I haven't seen one on it, and when they call they just say that they have a case against my ss#.

My bad..... my fingers didn't want to put the correct amount... $4979.52 in NSF still gets me laughing.

It's depressing to think of my innocent people have gotten hurt because of them. They pray on the people who have no other choice. Its just like applying for a car loan, the ones with the bad credit get whacked with the most outrageous interest rates, if they would just give someone a lower rate and make the payment a reasonable one, most wouldn't be in the situation their in. I pay my bills, but I also live paycheck to paycheck. I vowed that 2011 was going to be the year to get these gorillas of my back, I want to live a less stressful life,

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76349.....42819

Did you get anywhere with the bank on the NSF fees? Just wondering....