Do I need to pay anymore?

Hello, and welcome to the forums. You have come to the right place for support. What state do you live in? It will help if we know that. There is a good chance that you have paid them off legally.

I live in Florida. I'm not sure where AIP is based out of, but I know Arrowhead is based out of Utah.

AIP is out of deleware. When you call the talk to them they will tell you that they are only a processing service for payday loan companies, but it's their name on everything to do with the loan.

frogpatch is in Florida I think, and maybe he has some advice to give. Hang tight, someone from FL will be on their way soon!

Here are the PDL laws for Florida (just select your state) . Note that rollovers are not permitted. Figure out how much your state allows and how much you paid. If you overpaid them, demand a refund. Also file a formal complaint with your Attorney General.

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

But does it matter that I am in Florida, but they are based out of the state? Because I remember them saying that I had to acknowledge that I was conducting business with a company in another state.

IN order for them to lend to anyone in your state they are bound by the state laws of the customer

Yeah, they all say that, but you cannot pick and choose who's laws you will follow. Federal case law is pretty clear about this, electronic businesses must follow the laws of the state the consumer is located in.

Thank you all for this information/help. One last little thing then hopefully I can be reporting a success story rather than having a negative bank account.

I have a social anxiety issue that really kicks up on the phone, so I kind of need to know what I should say when I call these people and chew them out. :shock: I'm freaking out about having to call them at all, but I need them to stop hitting my bank account when they have been paid this much.

So are there specific things I need to say when i call them?

Thank you again so much! I was afraid I'd have to file bankruptcy to get out of this trap or something. I wish I would have known about this place sooner and I don't think i would have gotten this far in.

Thanks!!

They will continuet to hit your bank account regardless of you calling them or not...Best advce anyone can give you regarding that is to close the account and open a new one....Otherwise you will end up like me with a -1600 bank account debt

So I spoke to both of them. AIP says that they are bound by the laws of England, not by my state, and therefore can roll over as many damn times as they want to, and even though they have been paid over a thousand dollars for a 4200 loan, they are not paid off. They say i acknowledged that they were in England in my original loan agreement, which I never even actually got a copy of, they did everything over the phone.

Arrowhead refuses to acknowledge that they have been paid off.

This is frustrating.

I've opened a second bank account and am working on getting all of my stuff transferred there (direct deposit and such) so that I can close the one that they are hitting, but it really irks me that they think they are above the law.

Sorry, that a $200 loan, not 4200, stupid shift key.

Have your bank put your account your trying to close on DEPOSIT ONLY until you can fully close out that one account, so no ACH transactions can go thru and get you even further into the hole.

"So I spoke to both of them. AIP says that they are bound by the laws of England, not by my state, and therefore can roll over as many damn times as they want to, and even though they have been paid over a thousand dollars for a 4200 loan, they are not paid off. They say i acknowledged that they were in England in my original loan agreement, which I never even actually got a copy of, they did everything over the phone. "

Also - if you speak with them again, maybe try to ask them to email a copy of your loan agreement (not that it matters anyway, you've already WAY overpaid them).

Dont let them get to you!! Start your new bank account and dont give the information to anyone!!

Thanks - I'll call the bank right now. I didn't know I could do that with my bank account. :)

And thanks for all the other support, I greatly appreciate it. i vow to never get another PDL. Especially not from these shady people.

Yes - you may have to go into the bank to get it done but they can either put it on DEPOSIT ONLY or put a bar on all ACH transactions - I had to do this b/c my account was in the negative and they cant close it unless its positive. Im never getting another PDL either! Id rather have my electricity cut off and live in the dark for a few days than get another one! lol.