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A little confused on OH PDL law

Submitted by kjfinley23 on Fri, 05/11/2007 - 08:36
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Forgive my ignorance. I don't quite understand the law for Ohio PDL. For example I originally got an internet PDL on 3/5/07. The loan was 300.00. I have paid on the loan for 9 weeks and paid 450.00. By law have I paid back what I was legally required to pay? I have the site
http://www.paydayloaninfo.org/

but i wasn't quite sure how you calculate it. Thanks so much for everyones help here. Everyone has been super nice.


You can request this but these companies are very sneaky...if they do not get in with one name, they will change their DBA, change the amount or submit a paper check! It is just better to close the account all together or have it changed to a deposit only


Submitted by Leah on Fri, 05/11/2007 - 09:21

Leah

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Well thank you for your help and Congratulations on the baby. We have had 3 deaths within a year in our family. 2 very unexpected my 36 year old sister in law and my 22 year old stepson. it has been overwhelming. I am very worried about my storefronts but somehow have been able to keep them current for the most part. I am trying to pay them down a little at a time instead of getting 500.00 i get 400.00 that type of thing until i can eventually get rid of them. I truly think chapter 13 is on the horizon for us if we can hold on long enough to get the money together for the lawyer. Again thanks for all your advice. It is much appreciated.


Submitted by kjfinley23 on Fri, 05/11/2007 - 09:48

kjfinley23

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Welcome kj, I am from Ohio too and had 10o pdl's when I found this forum. It is really important to close that bank account asap. As Leah said these places will try any tactic they can to sneak through debits. What companies are you dealing with? I am going to be filing chapter 13 also, hopefully next week if things work out financially. Let us know if you need us. I am sorry about the deaths in your family.


Submitted by Sassnlucy on Fri, 05/11/2007 - 11:48

Sassnlucy

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When you go to the bank to close the account, please ask your bank what their policy is on ach transactions going through for closed accounts. Some banks will force the closed account open and allow the transactions to go through. If your bank does this, ask them to put the account on deposit only, or block all ach transactions before closing the account. Explain to them that you are trying to prevent fraud on your account, and that these companies have a history of debiting people's accounts without authorization.

It really sucks when this happens, because then instead of owing a shady payday loan company, you owe a legitimate bank.


Submitted by goudah2424 on Fri, 05/11/2007 - 12:04

goudah2424

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Yes, I ended up owing my credit union $800 because they kept paying the pdl checks and overdrafting my account. So I had some storefront pdl's paid off but I had to pay back the credit union $50 a month for a long time. Luckily they were kind enough to let me do that and once I got it paid off they opened my account back up, which was a good thing because in the meantime I had opened a NEW checking account at a different bank then made the mistake of taking out Ipdl's with that account and the bank closed it after it overdrafted..........


Submitted by Sassnlucy on Fri, 05/11/2007 - 12:26

Sassnlucy

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I would stop your direct deposit and go to another bank to open up a new account if your bank won't let you close the account just yet. Let me tell you what my wonderful credit union did to me.........My checking account was getting hit, overdrawn etc...., it was closed, set up a payment plan to pay that off. Did they obide by that, NO, what did they turn around and do to me right before payday (and I was having my check direct deposited to my savings), THEY TRANSFERRED THE NEGATIVE BALANCE FROM MY CLOSED CHECKING ACCOUNT TO MY SAVINGS, TOOK MY ENTIRE PAYCHECK!!!! I had set up an arrangement where they could automatically withdraw $100 from savings until the NSF fees were paid in full. To make matters WORSE....these companies tried to continue to debit my checking account. And what did my wonderful credit union do on this closed account where they were trying to debit? THEY CHARGED MY NOW NEGATIVE SAVINGS ACCOUNT $20 NSF FEE FOR EACH ATTEMPT TO WITHDRAW ON MY CLOSED ACCOUNT! Yes, I am pissed, don't know if anybody can tell. :twisted:


Submitted by WHEREAMI? on Fri, 05/11/2007 - 14:53

WHEREAMI?

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OMG Steelers. Talk about getting screwed. I would have been furious. And they say credit unions are supposed to be better.....Leah if you file for divorce I would think you can have him held responsible for half of that balance, not that $800 is any better than $1600. I have found that for the most part the only customers that the banks care about are the ones that keep extremely high balances with them and they don't really care about the people like me who are broke and keep about $5 in a savings account because they are living paycheck to paycheck. My credit union started charging $5 to cash a check even if you have an account there unless you have a balance of $500!!!!! I was like, I can't keep $500 in the bank. Their answer was, well if you want to get a loan or a credit card with us, that would count too. YEAH RIGHT.....like they would approve me and like I need more bills!!!!! :(:(:


Submitted by Sassnlucy on Fri, 05/11/2007 - 15:37

Sassnlucy

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My account got overdrawn by $1700, and they took my entire check, they were only supposed to withdraw $100 a pay period per our agreement and I would continue to keep my direct deposit. Well they took the entire check going against their agreement with me and left it $355 overdrawn then add the 5 times they charged NSF fees to the account for the attempted debits on the closed account, so they charge my overdrawn savings $100 NSF charges. Since they could not live up to the agreement, neither could I, I stopped my direct deposit and opened an account elsewhere. Screw them, that is really treating a customer poorly. These people were hitting my NEW account to top things off and my blocks on the old account followed to my new and WERE STILL GOOD! Yet they allowed the debits to go through and used up my overdraft protection to pay these people they weren't supposed to pay to begin with. :twisted:


Submitted by WHEREAMI? on Fri, 05/11/2007 - 15:42

WHEREAMI?

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And the sad thing is that the bank thinks that they were within their rights to do that to you, too. I hope that you gave them a piece of your mind before you stopped going there. That is horrible service especially since you had a PAYMENT AGREEMENT with them!!! I hope that you are being treated better at your new bank.


Submitted by Sassnlucy on Fri, 05/11/2007 - 15:46

Sassnlucy

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Yes I am. What was even worse is that I went an entire payperiod without any money. Survived that. And I was told I would have a papercheck. Drama NEVER ends. Well my check was neither direct deposited OR EVEN WRITTEN! YES NOT EVEN WRITTEN! I was LOST IN PAYROLL SPACE!!!!!!!!!!! I had to wait ANOTHER 4 days to get a check. I swear it never ends.


Submitted by WHEREAMI? on Fri, 05/11/2007 - 15:56

WHEREAMI?

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I would have had to wait until the next payperiod to get my missing check, but I contacted the US Dept. Of Labor. One would think that if you work for a government agency this kind of shit doesn't happen, it happens alot. I am not the first person to get screwed out of a paycheck and told you will have to wait until next payperiod.


Submitted by WHEREAMI? on Fri, 05/11/2007 - 16:01

WHEREAMI?

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I guess the lesson I am trying to get somebody new to this situation to learn is this, don't feel secure because you put a block on your account, and don't feel secure because your bank opens a new account for you. These people are sneaky and have ways of taking from you. You are better off going to a new bank all together to open a new account. And all of this happned to me RECENTLY, and it has been MANY MONTHS since I thought the mess was over with. I am considering requesting a new social security number.


Submitted by WHEREAMI? on Fri, 05/11/2007 - 16:04

WHEREAMI?

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