Help on PDL companies - so worried and scared

Payday loans are illegal in New Jersey. You don't have to pay the interests or fees. All you need to do is pay the principal amount. You can close your bank account. They can't take legal action against you. Revoke voluntary assignment asap.

Thank you so much. I am planning to change my cell phone number as well because I've heard they can be very scary in trying to make you pay ASAP. I am just afraid that they might call work (I have a direct number and can easily divert them to my voicemail) and ask for my Manager or HR if I won't take their calls. I don't want to get in trouble from work.

Follow the link in my signature line for detailed information on how to deal with illegal lenders.

With the situation the economy is in, it is easy to fall into the payday loan trap. It may be a bit of the process in getting things situated with these payday loan people, but it is worth it in the end. Like was mentioned, if it is illegal in your state, you are only responsible for the initial amount. Follow the informaton that Soaplady is giving you and you will be on your way. Once you get out from under these loans, stay far away from any more. They will lock you into a cycle that is hard to break.

Also, if you start getting calls where they are threatening you with jail, etc, don't let that get to you. They are just empty threats. Hang in there! It will all work out. I know years ago I found this site and the people at that time were wonderful in helping me get out of the payday loan cycle and were very supportive and encouraging. Take care and best of luck!

Thank you so much for your wonderful encouragement and guidance. I have been going numerous times to Bank of America and was trying to tell them to force close my account but they are uncooperative despite telling them that I have been a victim of illegal payday lenders. I guess I will have to see if the first lender, zip19.com attempts to debit my account tomorrow.

I have already drafted my letters to be sent to the illegal PDLs and I am bracing for the phone threats to come starting tomorrow. I will be changing my cellular phone number today; however, I'm sure this will not stop them from calling work!

I will definitely update you on my progress.

Take copies of your letters that you have sent to the PDL companies into the bank. Go directly into the bank though and don't deal with them over the phone. Show them the letters and that you need to block these people from debiting your account. A lot of times banks want proof. I had to do this several time with my bank when I had some PDL's. There were times I was able to get some of the money back, where the bank reversed the transaction, but you have to do it right away. This process can get tough and frustrating, but if you can get this taken care of, it will be worth it. Do keep good records of what you are doing and hang onto things for a while. About 6 months to a year after I stopped these, I got some calls again, but only a few. Also, you might file a complaint with your Attorney General. Lots of Luck!!!

I also went to my bank and was told there was nothing they could do, that I had to contact the serviceline of the bank. However, the branch manager called one of my loans that I had paid alot of interest on and who had tried to take money from my account (i took the money out and would not put my direct deposit into that account). She told them I would call them when I get back to my desk and the next thing you know they told me i was PAID IN FULL!!! although before that call my balance was 500.00 (i had paid probably around 1000.00 in fees).

Another pdl told me that I was Paid in Full. She said it was a courtesy and that they no longer lent to NJ residents.

The following week two more said Paid in Full.

All of these pdl's I had paid way too much interest. It will be a great feeling when these is done for you.

Laura

Bank of America is extremely uncooperative. They refused to close my account even though it was not in the negative at the time... I had to call their executive office. It was actually amusing for a little guy like to me because the representative from the executive office told me to schedule a meeting with my branch manager, then she called the manager on the phone while I was in her office and she was refusing to close my account. The manager was ordered to close my account and refund all of my overdrafts from all of these unauthorized debits from the loans. I then set up a bank account elsewhere. If they refuse to close your account (and you're not in the negative, if you're in the negative I don't blame them) then give the manager an ultimatum - either you close the account, or I will call the executive office and report you and every other idiot in your branch and they will do it for me. It worked for me with BoA.

Good luck brother.

I sometimes think it depends on the people working at the bank. Some of them just don't want to mess with stuff like this. But I have found that if you go up the chain of command, you can get results. We had some problems with a bank when we were trying to get out of the payday loan mess, not BOA, and we started at the bottom and had trouble getting results, so we just started going higher and higher up and finially we got the results we needed. We did eventually change banks. Don't like dealing with people who think that I am a bother. That is what they are there for, is to help people, but some are there just to draw a paycheck. Don't give up the fight!!! :grin::grin: