need help what was I thinking taking loans out

Internet PDLs are illegal in the state of Kentucky. Check out the following link to know how to deal with illegal payday lenders: http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

FBD is not a payday loan and is legal. The other 4 are not. Follow the link above to see how to deal with them. If you're going to close your account (which you'll likely have to do) you'll need to set up new payment arrangments with FBD.

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If you want to safeguard your money, you're going to have to close your account. Now that those other 4 lenders have your information, it will never be safe again.

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Your credit score isn't just about paying your bills on time, although that is probably the #1 contributing factor. Other things come into play like:

- the amounts you owe on all your accounts, the number of accounts with balances, and how much of your available credit you are using. The more you owe compared to your credit limit, the lower your score will be.

- Length of your credit history

- If you have recently applied for or opened new credit accounts, your credit score will weigh this fact against the rest of your credit history. FICO scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur.

- Several minor factors also can influence your score. For example, having a mix of credit types on your credit report ??? credit cards, installment loans such as a mortgage or auto loan, and personal lines of credit ??? is normal for people with longer credit histories and can add slightly to their scores. Having only one type of debt (credit card debt, for example) can, in turn, lower your score.

I went to my bank today and i Cant close my account bc i have pending charges and they also told me I can't put stop payments on them bc they are loans that I engaged in so basically I'm screwed.

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You need to talk to the branch manager. You are not screwed. These are ILLEGAL lenders. You have revoked their permission to withdraw funds from your account. They are illegally taking money from your account. Go back to your bank and tell them you want to talk to the branch manager.

my bank told me that because I was the one who inititiated the loans that theres nothing they can do.. the manager hadn't even heard of these types of loans. I told them they were ACH and they said they couldnt see antwhere where they were ACH and said I had to call each one of my loans. I even told the bank they were illegal they said there's nothing they can do. I talked to two managers and the manager at the main bank.

What is your bank? They aren't "ACH loans" they are online payday loans through ILLEGAL lenders. Your bank should help you. If you have people at your branch telling you there's nothing they can do, they're likely not familiar with these types of situations. You need to give them the correct info and you have to talk to the branch manager.

I din't tell them that they were ACH loans. I told them the were payday loans from online. but that they do the transactions thru ACH or whatever it is. And they told me they have never heard of these online loan things and said that because I initiated the loans that they couldnt do nothing.. I even called a debt consolidation place here in frankfort and they even said they couldnt help me that online places won't even work with them and that if I closed my account that they could come sue me. So his advice was to tough it out. But My WILL NOT help me they said only thing I can do is close my account. which I cant do because I have my pay check direct deposited and its too late to tell my company that I need a check in mail or to redeposit it elsewhere. Oh and I also told my bank that they were illegal and they just looked at me like Im some criminal. my bank is Farmers Bank in Frankfort KY

Broke,Go to the main branch of your bank in your city. Ask to speak to the branch manager. Tell them you will ONLY speak to the branch manager. Once you get him/her, let them know that you took out online payday loans and have since found that these places are operating illegally. Tell them that you revoked ACH authorization with these companies and that they continue to debit your account without your permission. That is fraud. Let them know that you want your account to be switched to "deposit only" immediately. Once you have your next paycheck, close the account, open a new one and switch your direct deposit there. You need to approach this with the manager as "there are unauthorized charges being debited to your account." I work at a bank. They WILL help you if you get to the right people. Many of the people in the branches, tellers, account managers, etc. have no idea what to do for you. The branch manager will.

Okay Ill try it but it's kinda hard to do with my job schedule I will try to call the main branch and ask to the branch manager there. Ive got to do something. This is gonna kill me before it's all said and done.

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yea but i dont have the time. I need to close my account first thing saturday I onlyn have one loan hitting friday and the rest are supposed come out monday so i have to close my account saturday and i doubt Ill have time to go fill that out friday then close it saturday my bank has to investigate everything first... I had an unauthorized payment hit my account last year had no idea where it came from I went to fill out one them papers and they asked if i knew where this debt had come from i said no only person i knew that used tmobile was an old roommate and they asked if my roommate could have gotten my card i said well Idk bc i sleep at night so idk what my friend does while Im sleeping and bc I said that they said 1) they couldnt fil out the fraud papers and 2) they would have to investigate anyway and then after there investigation is when I would get my money back. so I dont have time to fool with my bank. Im just gonna pay the one loan friday then close my account saturday

Fax a complaint letter to the CEO. This is bullsh!@ what they're doing to you!Attn: Lloyd C. Hillard, Jr., President and CEO
Farmers Capital Bank Corporation
P.O. Box 309
Frankfort, KY 40602-0309
502.227.1668
Fax: 502.227.1692
Email: [email]info@farmerscapital.com[/email]

Oh and file a complaint with the Office of the Comptroller of the Currency and the Federal Reserve Bank. If this bank is regulated (and they ALL are), they're going to be in BIG trouble for not helping you with this. I'm LIVID right now!

And if you call that number above, they'll transfer you to his voicemail. I'd do that if I were you :)

Lol i just read this.. I just feel it may be too late to do anything before friday but i will for sure call hm tomorrow and let him know whats going on... I thought that maybe my bank was like this because they are locally operated and not a big bank but I sure hope that maybe this guy can do something... I will update you tomorrow on what he said if he even replies.

Ive been following this thread from the beginning and did not feel the need to comment because you were getting really good advice. You have to remember, this acct is "yours" and the money inside that acct is "yours" also. The bank should be able to put ACH blocks on your acct if you sign docs stating that you want that to take place. By signing their block ACH form, you have taken the liability off of the bank and put it on you. It sounds like you are dealing with a small local bank because most of the larger regional banks have the ability to put ACH blocks on your accts. If they will not comply with your requests then you should file a complaint which was also mentioned already.

Going forward though you should have a plan on how to get your life back together. Your previous posts would lead one to believe that you don't have much money in the acct. So keeping the acct, letting the ACHs go through, losing your money in the acct and possibly going into the negative and inquiring fees will be comparable to taking your money out, letting the ACHs hit, and inquiring fees. The only difference with the second option is that you still have your cash available to buy your necessities. Your bank acct will be in the negative but they will pay the PDLs (which will keep them off your back) and you will have your money. Over time you will continue working which will allow you to pay off the bank fees and will allow you to regain control in dealing with the PDLs.

You have to constantly communicate. Communicating will likely keep them from taking legal action as long as you are able to pay them something. Do not give them your acct number and pay them whatever you have left over every month after you take care of your necessities.

saturday I will be closing my account. And yes they are a small local bank. I am going to be opening an account with another bank... as for pdl I had a small favor called in so I will be paying those off next week as long as everything goes thru like I hope.... Thank you all for your comments, it's helped alot... hopefully after next week I can start living my life again and have control... I will keep posted as to whether everything goes thru or not.