PDL in Ohio

Is the loan now with Payday One or is it still with Payday OK? Have you contacted them about making payment arrangements?

The loan with paydayok is payments only. I haven't refinanced that one anymore. The other 2 are both with payday1 & the 4th with cashnetusa. Not yet. I am afraid that they will hit my account & do more damage. (as in MORE NSF's) Do you think they WILL work with me? I have read over the forum some & read about some pdl companies that won't work with you & when you contact them about not being able to repay they hit your account. I can't afford the hole I'm in now, much less adding more to it.

If you contact a pdl and tell them that you can not pay, yes they will hit your account. You can not tell them until you close your account. If your account is in the negative, it will nit be able to be closed. You need to tell your bank to put a hard block on it so no more fees will come out

I would recommend closing your bank account before any more damage can be done to your account. If the bank will not close it, have them do a hard block debit on it. Talk with a manager at your bank.
I am posting the information from a sticky on this forum about closing your account.

Afer your account is closed, I would contact the PDLs about setting up payment arrangments you can live with.
I am sure that someone will soon post the laws for your state.

My husband has his check directly deposited. Will a hard block affect this? What IS a hard block?

Ok, I calle dmy bank. The lady had no idea what a hard block debit was, but she did say that I could put in a block for the ach debits from the pdl companies. It will cost me $30 for each block submitted.

They will use a million different names, and they will change the amount. There is no way yiu can block them. You dont know which name they will use. Some have 10 or more aka's

I tried to log in but it said my account was inactive, I'm not sure why. Anyway, I don't think PayDay OK is legal in Ohio. They have no license to practice in Ohio.

I'm having trouble posting, and logging in, I wanted to respond to this post. Hmmmmmm.

I think you need to talk to someone else at your bank. Ask to talk to a manager. They can do a hard debit block. You need to do this because there is no way to know what name a company will use to debit your account.
I would have your husband change his paycheck to paper until you can get these debits stopped and a new account open.

So, I do a hard debit block BeFORE I try to make any payments arrangements? I called hubby's employer, he has to pick up a cancellation form & a new DD form & he won;t be able to do this until Friday. WHich is the same day 2 of the loans will process. So I am SOL until next payday I guess. ugh.

No your not SOL until next week. Call your bank and talk to a manager. Explain that there has been some unauthorized charges on your account and they need to block ALL ACH Debits. This means that you cannot use a debit card or an ATM. You will have to go to the bank and withdrawl cash but that is doable. Please call your bank and talk with a Manager. DO NOT contact the pdls about payment arranagements until AFTER you have taken care of your bank account. If they know you are closing your account they will withdraw every cent.

Ok, I will! I just tried to talk with the bank manager, but got her voice mail. I will try again after lunch hours. If this all works out it will be a blessing!

I found the PDL Laws for Ohio and am postion them below. Hopefully someone else from your state can jump in here. My question is, are interent loans even legal in Ohio?? The law applies to check cashiers only.
Emerald*dream - are your loans storefront or internet??
Ohio Laws:
PDL, here are the ohio state laws.

Quote:
Ohio State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Ohio Rev. Code Ann. ???????? 1315.35 et seq.

Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400
Fax:
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance

Sorry, you said in your original post they were all interent, guess I need to learn to read before I type. Hope all works out with the bank!!

Mina are all internet based. None are from a store.

I had a loan with PayDay OK, and they switched me over to PayDay One - because PayDay OK does NOT have a license in Ohio.

Yep! I had 2 with PayDayOk & 1 with PaydaySelect originally. Paydayselect & 1 of the Payday Ok loans I refinanced through Payday1. The other PaydayOk loan, I cannot refinance, but the payments still come out as originally scheduled.

Well I think it's messed up, they tricked me into transferring my loan to Payday One because they KNEW they were in trouble for even giving me a loan, period. If I would have found this place before I transferred my loan over, I would have demanded a PIF from PayDayOk, because they were illegally loaning money to Ohio residents, and they CAN'T take it to court since they aren't legal in Ohio, and I more than paid back the money I owed them. Now I am fighting with PayDay One, and they are NOT being cooperative in any way. They really screwed me, so to speak. :(

Sorry if I seem slow but I want to make sure I understand correctly.
You now have ONE loan with Payday One (which includes a refinance of one Pay Day OK loan and a Payday Select) correct? And my understanding of Shazzers post is that PayDay One's loans are leagal because they have a license in Ohio.
You also have one loan with PayDay OK? And if I understand Shazzers post correctly, PayDay OK does NOT have a license in Ohio, thus, this one is not a legal loan?

You can check it, PayDay OK doesn't have a license in Ohio. already inquired about this on this site. They were illegally giving loans to Ohio residents, that is why they transferred their loans to Payday OK, and my understanding (from the horses mouth-PaydayOne) they are basically the same company. The only difference is, PayDayOne DOES have a license in Ohio.

I have TWO loans currently with Payday1.(my former PaydaySelect loan & ONE of my former Paydayok Loans). I still have ONE pdl with PaydayOk, but it is payments only.

So, can I demand a PIF from PaydayOk for the loan that payments are coming from?

I would think that if yoy have PayDayOK more in fees and interest than the original loan that you should demand a PIF and a refund for any overpayments (probably won't get that).
Did you talk to the Manager at the bank??

I would tell them you are aware that they do NOT have a license in Ohio. Pay back only the principal amount, and request a PIF. That's what I would do. What are they going to do sue you? How? They can't, they aren't legal in Ohio.

Shazzers, have to say I am so glad you jumped in since you have first hand experience with the Ohio laws and PDL's.

Not really first hand experience, I have learned from the good people on here, otherwise I wouldn't know squat. lol!

I just spoke with the manager at the bank. I need to bring in a form to have a 'hard block' put on our account. Which essentially freezes it. I can open a new account when our account is in the black again. (which will be Friday) Once all this is done, THEN I need to contact Payday1 & Cashnetusa, correct?

I will contact PaydayOk as well concerning the PIF. I have DEFINATELY paid MORE than the original loan amount. (to the tune of about $150). Hopefully that will aid in a quick resolution from them.

PayDay OK Owes you a refund, I would demand that too!

After you account is taken care of, then contact the PDL's that are legal and try to set up payments that you can afford. You also want to make sure that any future payments you send them are in the form of a money order or bank draft. You do NOT want to give them access to debit any new account you may open. Some PDL's are easier to arrange payments with than others. Please stand your ground and make sure the payments set up are something you can manage.

Doesn't a bank draft require giving them my account information? How does a bank draft work?

I would send them money orders, period.

emerald*green -
AFTER you have your bank taken care of. You probably need to send letters to the pdls that you owe revoking their rights to ach debit your account and revoking any wage assignments you might have signed. Here is a link to some letters you can use and customize That's what I would do, revoke everything first, also forbid any contact with her other than by email or USPS, so she can have a paper trail of all contact with them. Here is a link for the copy of letters.
http://www.debtconsolidationcare.com/letters/index.html
(thanx shzssers for providing the link to the letters)

Ok, money orders only as form of payment...got it.

I reviewed the listof letters, but cannot find one that fits my needs of revoking the rights to ach debit of my account & said wage assignments.

BTW...I want to thank ALL of you SO much for your assitance & guidance with my crisis. I am still scared as sin, closing our bank account & telling the lenders I will repay on MY terms. But, it has been a success for so many of you, I believe it will be one for me as well. My biggest concern is the pdl lendors calling my husbands employer. That would NOT be good. I believe though, by setting up arrangements that shouldn't be an issue...right?

Same thing happened to me. I had a payday select and a payday ok loan. I too fell for the trick but only on the PayDay select loan. The payday ok, just did payments like always. So, once I found this forum I sent PayDay Ok a letter letting them know that I knew they were not to loan in Ohio, at the time I "owed" them about 500, they sent me a PIF letter!!!

Now PayDay1, nasty people they are. I defaulted about 3 weeks ago, they called every day, sent me 4 final notice e-mails. I sent them a letter letting know know I would pay them, but I needed to make 50$ every 2 weeks until PIF. First payment is to start this Friday.

I also told them to only contact me by phone or USPS, since the day after I sent that letter I've not heard one peep out of them. Not sure if that's good or bad.

But at least it's been peaceful. If I were you I would send them a letter. Lots of folks on the board have gotten PIF from PayDayok. I just wish I would have never transfered it, I thought I had too, very tricky!!!

I could have gotten a PIF from Select also had I own.

emerald*dream I found this letter, the link is below, you can customize it to suit your needs. About half way down the page is a letter, looks like the 4th or 5th paragraph is what you're looking for.
http://www.debtconsolidationcare.com/paydayloan/wage-assignments-letter.html

That letter also addresses ceasing all contact, such as phone calls.

Lren0318

What REALLY makes me mad is, I spoke with a so called representative on the telephone shortly after I was TRICKED into transferring the loan from PayDay OK to PayDay One and she assured me they were the SAME people and everything would continue just as before. SO, I thought I would be able to continue making payments, of course I couldn't, because legally there are no rollovers in the state of Ohio, so they tried to take the entire amount ($595.00) out of my checking account, but there were NSF. It was a mess. It is NOT right what they did to me, they actually have MORE than the amount I actually borrowed. I am TRYING to resolve this through email contact, but they are ignoring me, not responding. I am going to file a complaint as soon as I figure out how to go about it so I can state my case so it makes sense. These people are nothing less then bloodsuckers, and I've had enough of it!

When ya'll say send a letter. Do you mean email with a letter attachment? Or a physical, printed off letter that I go to the post office & mail? Sorry if the question is dumb, but I really dunno which to do.

Send one certified returned receipt requested, and one through the email. Make sure you have your account closed BEFORE you send this letter.

Oh and, keep copies of EVERYthing. Even your emails.

I only sent an e-mail letter, however I think its best to send the certified one and do keep copies.

Ok, my checking account has been closed & a new one opened at the same bank. I've banked with them since 95 & they have been GREAT everytime I've had any issues, so I didn't want to change banks. I will be faxing the bank copies of the revoke of ach debits that I am sending to the pdl's so that they will have them on file. The lady assured me it would not be a problem & that my old account would NOT be forced back open from these ach debits.

I feel like the weight of the world has been lifted from my shoulders. I have every intention of repaying what I borrowed, except now I can do it on terms that I can afford. WHEW!

A big THANKYOU to all who have been assisting me in this mess. I will most likely have more questions, but knowing ya'll are here to help (& not judge) means the world. Ya'll are angels! :hug:

Now I am off to prepare the letters to send!

I really am glad to hear that, having this hanging over your head is an awful feeling, but knowing you can do something about it with the proper tools is a GOOD feeling. You'll get there!