PDL He** - advice needed

Your best course of action may be to close your bank account. Unfortunatly most banks have policies where even if you close your bank account, if ach transactions go through within 30 days they will force the account back open.

You could try going to the bank and explaining your situation. If you get a really nice banker they may offer to put a freeze on your account. You could also stop the payments, but there is a fee for each one, and that can get costly. Plus that only stops the specific transaction, the pdl can try again with another amount and it would go through. Some banks allow you to put stop payments on company id's. Ask your bank if they can do that. Some pdl's have multiple names and will just hit your account with another name, but since the transactions are coming out in 2 days you are short on options.

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

Looking over my bank account, I missed one more internet lender:
Arrowhead Investment-$300

I am going to my bank today. The information I got over the phone was regarding stop payments and the cost on those. I will see if they can block company ID's or if I should just close my account and get a new one opened.

Sooooo...if the loan limit in my state is $1000 aggregate, how on earth did these companies get away with loaning so much? Not one of them asked me if I had any other outstanding loans or their amounts.

Any advice on dealing with these companies? The storefronts I will be calling and following up with a letter. I have a feeling that they will be easier to work with as I have dealt with them and the people in their offices. The internet ones worry me...

Did you by chance call the Idaho Consumer Credit Division? I just called them and they said they had an almost identical call yesterday . . . .

But if it wan't you here is what they said:
Storefronts
You can't go to jail for not paying up
The worst that can happen is that they sue you and win a civil judgement. The interest rate for that is set, so it is less interest then they are currebtly charging.
They could send it to a collection agency.
You could try to talk to them and see if you can work something out. Tell them you are at your wits end and cannot continue on like this. They may work with you.
Check your records. They can only allow you to rollover 3 times. I asked him if after the 3rd rollover if they were allowed to immediatly reloan you the money, and he said that could potnetially be an issue.
They must be licensed to lend legally in Idaho.

Internet
They should be licensed in Idaho. Another state's license will not work.
If they are licensed, see the storefront area.
If they aren't licensed, then you can complain.
Since they aren't licensed they are alreay breaking the law in Idaho, and since they don't have a license they may be harder to deal with.

You can write them letters saying you are aware of their licensing status, and since they are breaking the laws if Idaho, you may be able to request they mark your loan paid in full.

Can you post how much you've paid so far for each loan?

The $1000 is for each loan, not a total amount. No one lender looks to have lent you over $1000, so that wouldn't apply.

I didn't call them...I am new to this and was referred here as the place to start.

The storefront loans all only allowed the 3 rollovers. On the 4th I had to pay it off and could then immediately take the principal back out.

Some of the internet loans are the same (LoanbyPhone, CashNet and AeroAdvance). Most of the others allowed 4 refis and after that they start taking the interest + $50 of the principal.

I have some recent loans thinking (stupidly, very stupidly) that I would use those to get current and then start paying everything off.

Ouch...what I have paid so far. On the storefront loans, I have had them for so long that I don't know. I can list what I have paid for about the past 6 months.

Storefront Loans:
Xpress Cash-$650.00 Pay $130 every two weeks. Had for at least a year
Quick Cash-$600.00 - Pay $120 every two weeks. Had for 6 months
Idaho Title Loans-$500.00 - Pay $90 every two weeks. Had since September
AAA-$500.00 - Pay $90 every two weeks. Had Since October
Speedy Loans-$400.00 -Pay 84 every two weeks. Had for at least a year.
Advance Check Loans-400.00 - $116 every 4 weeks. Had for about 6 months

Internet Loans:
Loan by Phone-$300.00-Paid 506 in interest. Renewed loan 3x so far
AmeriLoan-$300.00-Paid 360 in interest; starts taking 50 of principal this week
USFastCash-$300.00 -Paid 360 in interest; starts taking 50 of principal this week
DMS Marketing-$300.00-Paid 360 in interest; starts taking 50 of principal this week
AeroAdvance-$300.00 Paid 60 interest
CashNetUSA-$400.00 Paid 250 interest (250 loan amount); upped loan and 90 interest due Friday
East Side Lenders-$300-Paid 75 interest
FASTCASH/PYDYTWO-$350.00-Due Friday (no docs sent to me)
Cash Today-$200-80 "processing fee" due Friday
Arrowhead Investment-$300- 90 Due Friday

Where can I go to check the licensing status of a particular company?

http://finance.idaho.gov/ has a link to license database. It is also where you would go to file complaints.

I'd bet that most of the internet ones aren't licensed. My advice to you would be to worry about those ones later. Concentrate on the storefronts. They are legal, and will take steps to collect if you default.

Contact each store, explain your situation, tell them how much you've paid so far on your loan, how much you borrowed, and that you can't keep doing this. You can't afford to pay it off all at once, and ask them if you can set up some sort of payment plan. Just be honest and don't agree to pay more than you can afford.

Then you can worry about the internet ones. Since many of them aren't going to be licensed, they will not win and most likely wouldn't even try to sue you for the balance. You can write them letters and work on getting them to mark your loans paid in full.

Thanks for the link. I just looked them all up and two of the Internet loans (Loan by Phone and CashNet)are actually licensed in this state. I will call them as well to see what can be worked out.

Is there a sample letter somewhere that I can use as a starting point for letters to the other internet loans? I have seen the one for revoking wage assignment, but haven't seen a sample of "you aren't legally allowed to do business in this state..."

I wouldn't go by sample letters . . . . Too many people have used them already ,and they don't apply to your situation since interest rates aren't being broken per se.

I would just send them a letter that you have come to the knowledge that company x is not legallu licensed to lend payday loans in the state of Idaho, and since that is that case, you request that you loan be marked paid in full (If you have paid over the principle amount), or set up payment plans for the amount still owed on the principle.

Copy this letter to the Idaho Consumer Credit Division.

Turns out Cash Today is really Payday Avenue...reading the forums here doesn't look good. Anyone have a mailing address for them? The one I think I found on their website is an overseas address...

Forgot to login on the previous post...

I need addresses for any of the following:
Payday Avenue
DMS Marketing Loanshop
FASTCASH/PYDYTWO LOANS (Not sure who this is...but that's what the deposit is on my account)

OK...found Cash Today or whoever they are today. :)

I still need the following two:
DMS Marketing Loanshop
Payday Two (www.Payday-Loan-Yes.com; may also be aka cashnet).

Thanks everyone!

Has anyone attempted to sign into Payday-Loan-Yes.com and found their SS# invalid? I have emailed and called this number without successfully reaching anyone. I too received FASTCASH/PYDYTWO with no previous authorization in my account.

Any further information is greatly appreciated!