In Texas, need out of PD loan downward spiral
Ace Cash Express
Loans: $2,575.00
Paid: $3,969.00
Balance: $985.00
National Payday
Loans: $800.00
Paid: $900.00
Balance: $450.00
MoneyKey
Loans: $800.00
Paid: $1,485.25
Balance: $500.00
American Web Loan
Loan: $1,400.00
Paid: $4,910.00
Balance: $695.00
Has anyone ever had any luck with actually getting refunds from these places that have been overpaid? What is the process for getting a refund?
I found a template letter for revoking ACH debits and am sending certified copies to each loan company and my bank tomorrow. I will close my bank account before the next round of debits hit next week.
Thanks in advance for any guidance!!
Ace Cash is a legal lender. If you have not defaulted yet, call
Ace Cash is a legal lender. If you have not defaulted yet, call them and ask for the EPP.
National Payday and American Web Loan are illegal lenders. STOP paying them right now. They took you to the cleaners. Revoke ACH authorization immediately and send both these lenders letters demanding a PIF and a refund of the amount you paid over and above the principal. Threaten them with AG, FTC and CFPB complaints if you have to but keep squeezing them till the sough up some money.
File those complaints either ways. They will help.
As for MoneyKey, its is possibly one of those shady DE based lenders. Check with the Texas DFI to see if they are licensed to do business in your state. If they are not, you do the same thing you are going to do with National Payday and AWL.
