Trying to get started on resolving my PDLs

NIkki, Welcome, it is good to see you are on the right track. When are the pdl's schedule to hit. A stop pyment generally will not work becuase they will try to debit uder another name or send through a paper check. I guess I am asking if you will be able to close your account in time. If you have the bank put a hard debit block, you can get your paycheck but no money will come out no matter what the Pdl's do. You do want to do a letter revoking any wage assignments you may have signed as soon as possible. I see you are going to add these to a debt management program. You should let them do the rest as that is what you are paying them for. If you are contacted tell the pdl this and tell them to contact your company.

Here are the state laws for Indiana:

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These are all internet loans, correct?

Yes they are all internet loans. So even though I've already put the stop payments on--they still might go through? I guess I thought if I put the stop payment on for Thursday at midnight when they typically go through then i would have enough time to go in on Friday and close my account. Does that seem right? WOuldn't it take a day or so for the companies to find out that their ACH debit didn't go through?

Sorry I wasn't logged in and didn't realize it. Do I also need to send letters to the companies telling them that they cannot debit my account?

Yes, you can actually include that with the revocation of wage assignment. Be sure to get your money out asap. You also need to speak with your payroll department and give them copies of your letter incase the PDL tries to contact them. I mailed (certified return receipt), e-mailed and faxed my letters to the companies. You are certainly on the right track.

You need to do a letter revoking any wage assignment signed to Cash Transfer Centers NOW. They will send a wage assignment to your employer without batting an eye. Your AIP is a "verbal contract". So illegal it's pathetic. Actually, you're dealing with quite a few illegal pdls. You put stop pmts on all these company names? Are you aware of the actual names they debit under? If you put a stop payment on just a particular name, some may still go through. They debit under a different name than the actual "loan" name. I know that AIP (I think) may use EdESA. Or that might be another one (Cash Borrower - that you don't have). Anyway, my point is that, these companies - for instance MTE FINANCIAL - is not going to debit as MTE FINANCIAL. They will use one of the million d/b/a names. So I'm not quite sure how many of them will actually be blocked. It just depends on if they use their actual name or a d/b/a. No telling with them. Yes, it will take them a few days to realize that their debits have been rejected. However, I'm afraid some are going to slip through. I guess you can either "wait and see" or see if your bank will put a hard debit block on it seeing as how you can't be sure what name they are going to debit under. You're using a debt management company? That's fine. If you get phone calls, etc. from these companies, forward them on to the company you are paying to take care of them.

Just a little more info on the dmp thing...I am in Indiana also...and also in a DMP...I called all of the ipdls and explained my account was closed and I was in a DMP and offered the info..or asked for addresses and such for my DMP. Some of them complied and for the most part my balance stayed the same and no more fees were added on. Some of them out and out refused...lucky for me the ones that did were illegal and I had almost paid them off already or had over paid by Indiana law...so I did not include those and fought them myself to get PIF...just wanted to prepare you for the fact that some of them may not go along with the program.

Is there certain verbiage I need to use in this letter. It looks like I need to email, fax, and send this to CTC as they are the one that seems to be a problem for lots of people. If most of these PDL's are illegal does that mean I just owe the original loan amount and is that the amount that I should list with my dmp? I'm getting really stressed about the fact that they may contact my employer. I work for a huge company so no one in payroll will even know who I am but I really don't want my boss to find out. I am closing my account tomorrow. It has a hard debit block on the account and then once I get my paycheck $ out tomorrow I am closing it. If I start sending the letter to CTC today or tomorrow will that give me enough time. I read somewhere else on here where someone said they sent this to CTC and they still contacted the employer saying that it was signed with a digital signature. I just don't even know where to start with all of this Attorney General stuff either. I guess first things first is to get this letter out but I don't know exactly what it is supposed to say. Please Help!

Do I send the wage revocation letter to all of my PDL's" Did I sign something like this with all of them?

Send it to all of them. Some of them will try it whether you signed on or not. Play it safe.

I found this in another thread. Is this all it needs to say....?

I am hereby revoking my voluntary wage assignment with Cash Transfer Center, please be advised that I have notified my employer and filed an official complaint with my state's AG office. Any attempt to garnish my wages will be denied.

NIkki-I just sent you a PM..let me know if you got it. I am going to sent you a letter that will take care of all of this for you!

If anyone does use the above statement, I would change the word garnish to assign.

Thanks Goudah Good point. Now can I tell them in this same letter not to contact my employer, supervisor, or references?

Good catch goudah!

Nikki-Just pm'ed the letter and it does specify wage assignment revokation.

nikki, if the letter I am thinking volley sent you via pm is the correct one (I'm sure it is), it does state in there not to contact you via telephone at your place of employment, home phone, cell phone, or any other phone number that they may have. You've probably already received the letter from volley. It covers everything.

It sure does cannr! The good old all in one letter!

God love you volley! The one that "covers it all". Gotta love it! :D