GFSIL and IL laws?

Yes, you are right about only paying $31 in interest. Since rollovers are not allowed in your state it isn't $31 for every 14 days, since legally they should've made you pay off the loan on your first payday.

They will say that the money you've paid is just to rollover the loans. That is why they still say you owe them $300+.

They are also one of the worst companies to deal with. You need to close your bank account and open a new one, preferably at another bank. When you close your account ask your bank what their policy is on ach transactions going through on closed accounts. Some banks will force open a closed account and allow the transaction to go through. Then you owe a legal bank instead of an illegal pdl. If your bank does do this, explain the situation and ask them to put your account on deposit only before they close it.

You also need to revoke the authorization you gave them to debit your account, and revoke any wage assignment you may have signed.

Be prepared to be harrased like crazy and threatened with all kinds of crap. Just hang up on them. The good news is they have no legal recourse to do anything no matter what they say. They will tell you they are going to come to your job and have you arrested. Tell them they have to get past the barbed wire first and some guy named Vinnie the Stooge and his dancing pit bull. They are so stupid they will probably believe you. They actually are in England and I don't think they will send a London Bobby to the US. Just make a joke out of these clowns.

Also, in the letter, state "I revoke any and all wage assignments I may have signed with XX Company."

Ask to have proof sent back in the form of a letter that the account is marked paid in full . . . .

It may not be easy, they are a bad company to deal with. But as long as you've paid what you legally owe them, there isn't much they can do to you, but harrass the hell out of you. As frogpatch said, just hang up on them!

Thanks for that. Since they called me 7 times in less than 15 minutes earlier today, I'm pretty sure they're going to keep hounding me until I either - 1. Change my phone number - or 2. They get tired of wasting their time! (Personally, I think it will be #1... and I'm getting pretty close to that right now!)

As far as I can tell from the 'snap shot' of IL law on one of the webpages here - they dont have any LEGAL recourse for me (ie: they cant take me to court, etc) - so I'm not going to get too upset over it.

About the only thing I have left to make 100% sure of is that GFS == GFSIL. - Then I will know, FOR SURE, that I've paid back their $200 and only owe them $31!

Thanks again to everyone for the replies - I really appreciate it.

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PS - yes, the guest is me as well - I didnt realize the 2nd post (under my login) was going to get get posted to the forums - its my first time here! SORRY!! :)

GFSIL and GFS are the same and they are not liscensed to lend in the United States period..I deal with them not to long ago and they eventually give up when they realize that harrsing you will not get them anywhere...you definately should file a complaint on them with your attorney general

As Goudah said...CLOSE THAT BANK ACCOUNT. They have over 100 different names that they use todebit your account and will start submitting about 4-5 checks a DAY

Yeah, that's why just blocking the company won't work. You can put a stop payment, but they will use another name or amount and get around it. If you block all ach transactions, they will put through a paper check with your account info on it. The only way to ensure that they won't take more money is to close the account.

But be sure to talk to your bank about the ach policy I mentioned in the post above. It really sucks to think your account is closed, only to find out the bank reopened it and you now owe the bank $600+ . . . . .

And don't worry about the double post . . . . I deleted the other one since it only had 1 response and it was from me . . . . . That way you can get all your answers in this thread instead of having part of the info here and another part there . . . .

or owe the bank-1600 like me :(

Yeah, I was lucky at -$600 . . . . .

Unfortunately, the account in question is through Bank of America - and they do the 'reopen if something hits within 30 days' policy. So even if I close it, it will end up re-opening. And they "cant block all ACH debits" on an account.

I currently have a 'block' on anything for $150 through ACH - but when they break down the amount into smaller amounts, etc - it doesnt help. How FRUSTRATING!

At this point my account is currently sitting at $139 from NSF fees - and I'm feeling very lucky that's all it is! I'm going into the bank with my letter tomorrow and I'm going to see what the local branch manager can do for me.

Thanks again for all of the great advice/info in this website! Its nice to know I'm not the only one who has gone through this.

Ask them to put the account on deposit only . . . . Print out some of the pages from this site detailing the bank fraud that these companies do. Take that with you and stress to the bank that you've revoked authorization and these companies no longer have permission to debit. Tell them you know they can put a block on all transactions. They CAN!!! Take letters with you revoking authorization for the pdls . . . . GFSIL will not stop debiting, so you must make them close the account. They can force close, so do not take no for an answer. Ask to speak with the manager.

If they were to close your account because they found out you were on chexsystems, or because of any reason, let me tell you, they close that account and you can't even get a dime out! They will mail you the balance when they good and feel like it! They can do it when it benefits them, so why not when it benefits both? After all, you are only trying to prevent FRAUDULANT activity! Sorry, this makes me mad when banks have no clue!

PNC did the same thing to me and you wanna hear the funny part?? Even after GFSIL had caused it to OD by like 700 bucks, they let my husband withdrawl 400 bucks claiming that the ATM was not caught up with my negative balance...RIGHT!

BTW - A ach block wouldn't do good for long, they will just put through paper checks made out with your account info . . . .

If for some reason you still can't get the bank to keep the account closed, and don't want to continue fighting them, at least get them to take off any overdraft protection you may have. That way at least the items will be returned and you will only owe the nsf fees . . . . . . Although they will add up fast . . . . .

I don't understand why this thread was moved . . . . Most of the pdl stuff is in debt cons, not collection agencies . . . . It just makes it harder to find.

I had BOA put my account on "deposit only" so that I could put money in but nothing could come out. It remains on that status right now. Bank of America reversed all my overdraft fees also. Although it did not happen until the Overdraft Services people had it. I also told them I had filed a complaint with the Office of the Controller of Currency who is the watch dog of national banks. In my case I had the account up to positive but the would not let me close it when I told them about the situation. That gavme leverage in that case. Try talking to the Branch Manager first to see what can be done. You may be pleasantly surprised.

well how much did you borrow and how much was debited?this and other d/b/a's are getting the hammer put to them by the FTC as we speak.i would close your current account and open a new one.if you paid close to the principle i would consider it done.if they call and hassel you.file a complaint with the FTC.as long as that account is open they will debit forever if you let them.