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PDL HELP, had to close acct.

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I am way in over my head with these PDL's and I think someone above is telling me now is the time to handle this. I had to close my checking account last week due to the US National Bank Scam. I have asked, re-asked and am told that NO transactions will be allowed thru the account, no matter how it is presented.

I will have to call all of these lenders to get exact dates that I have started paying but some of them go back pretty long. I live in the state that is wishy washy, PA.

MTE (quickest-cash-advance.com) owe $130
Apple-owe approx. $140
GRC-owe $300
Loan Shop North NBA $680
United Cash Loans-$455
Arrowhead-$250
B&L-Owe $200
One Step Cash-$200
PayCheckToday-??
Paydaymax-$604
Cashnetusa-$822
ZipCash-?? According to website, no longer making loans
Little Loan Shop-??
My Loans USA-$650
PayDayOne-$800
PayDayOne-$600

I was paying $1600 just in finance charges every 2 weeks. CashNetUSA is set to try to take funds on 8-11 and one of the PayDayOnes on 8-13, all others on 8-15.

I know I owe the principle on all of these and my thought was to call all and try to set up payment arrangements??!! I can not, upon advice of a lawyer and my bank, give out my account number again. I am willing to pay the principal and am not trying to get out of paying it, just have to stop paying so much every 2 weeks.

Advice would be greatly appreciated at this point. Am I going to go to jail for this? PLEASE help. I bet you've never seen someone with so many loans. I honestly don't even know why I took them. I think it was a game to see how many I could get.

Diane




Trust me, once they realize the account is closed they will be calling you. I overpaid mine so I am not exactly sure what you should propose. I would certainly not propse more than I can afford and you most likely will have to go back and forth with them. I would email and snail mail or fax them. The problem with verbal is that they can easily forget what you agreed to also, some of them will not be so easy to deal with. In my experience, it is better to have written documentation in the event you have to file complaints, etc. If you snail mail, you will want to send them certified return receipt requested or if funds are tight, have a delivery confirmation placed on them.

Sub: #11 posted on Mon, 08/11/2008 - 07:19

RoxyNY RoxyNY
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(Posts: 4178 | Credits: )

I am so darn confused. What is the best action to take at this point? Can I do anything about them calling me at work, even though I'm not there during the day anyway. I work 3rd shift. Do they typically have e-mail address on their website to e-mail them that way? Would you go that route or snail mail? Can you help me with wording the payback proposal?

Thanks,

D

Sub: #12 posted on Mon, 08/11/2008 - 07:22

dlsbrs dlsbrs

(Posts: 54 | Credits: )

I know it is confusing. There is so much information comming to you at one time. Yes, you can get email addys of their site or even sometimes you can search them on the fourm. I used email, fax and smail mail when I sent my letters. Yes, I will help you with your letter. Let me see if we can find one on the fourm which proposes repayment...As for phone calls, there is not much you can do about them calling. They will call but eventually it will stop. Let me do some research about the letters. I have to go to a meeting but will be back in an hour or so and can start looking then. Hang in there you will get the hang of this.

Sub: #13 posted on Mon, 08/11/2008 - 07:47

RoxyNY RoxyNY
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(Posts: 4178 | Credits: )

Do I worry about the ones that are not liscened? Or let them go?

Diane

Sub: #14 posted on Mon, 08/11/2008 - 07:47

dlsbrs dlsbrs

(Posts: 54 | Credits: )

If it were me I would make sure my bank account is locked up tight to block all transactions. The next step I would take is change all my contact numbers if possible. I would then have a discussion with my employer and try to get them to tell the collectors one of the following:

1. You are no longer employed here.
2. You are not allowed to take personal calls.
3. You were fired.

I would then send each company a letter revoking all wage assignments. I would also send them a cease and desist letter even though they are not required to follow it. Basically I would cut off all communication with them other than mail. I would only talk to them if they either sued or you are making a settlement offer.

After doing all of that I would save up lump sums of cash as settlement in full. I would suggest saving maybe $300 and then starting with the smallest and working your way up. I would work with the legal ones only which means they have to be licensed in the U.S. in one of the states according to your state laws. I would skip the others until you had the legal ones cleaned up. I would call them up and offer them a settlement amount. You could try 50% to start with but I doubt they will take it since these are scumbag companies you are dealing with. I would offer them no more than the amount you borrowed minus what you already paid though and if they want more then tell them to sue. Make sure you have the agreement in writing before you pay them a single penny. It should state the agreement is Settled in Full and it needs to be signed and on company letterhead. Pay them with a cashiers check or certified check from any bank of your choice. Do not pay them with a personal check and do not pay them electronically or else they will have access to your bank account again and they will mess it up.

Sub: #15 posted on Mon, 08/11/2008 - 08:44

DOLLARSandSINCE DOLLARSandSINCE
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(Posts: 1078 | Credits: )

Can you give me a copy of a cease and desist letter and a wage revocation letter please. I want to cover all bases. You said I should only do the ones that are legal first? Do I say anything to the illegal ones?

Diane

Sub: #16 posted on Mon, 08/11/2008 - 10:44

Unregistered


ROXY????Please don't leave me hangning. What is my next step????

Thanks so much,

Diane

Sub: #17 posted on Mon, 08/11/2008 - 10:54

dlsbrs dlsbrs

(Posts: 54 | Credits: )

Diane, we always advocate paying back what you borrowed, however, things like rent, utilities, foo, etc. come first. Take care of the legal ones first because they can take action against you and then take care of the illegal ones. Here is a copy of a letter that covers all the bases...

FOr the illegal ones...

http://www.debtconsolidationcare.com/paydayloan/outstandi ng-loan.html

For the legal ones...try this... someone else gave it to me...



[quote]US Fast Cash
1985 S Eights Tribes Trl
Miami, OK 74355

Telephone: 1-800-640-1295
Fax: 1-800-803-8796
Fax: 1-888-549-3324 (use)
email: 1. [email]customerservice@usfastcash. com[/email]

After doing research on internet payday loan laws in the state of (your State), I have found that in order to lend in the sate of PA, you must be licensed in any state. I have found the following laws to be true applying to payday loans in the state of (state the pdl is licensed in):

Insert State Law Information here


I have currently paid $XXXX on my $XXXX loan. The legal amount that could have been charged to my loan is the principal amount of $XXXX plus $XXXX finance charge which would bring the total amount owed to $XXXX.

As of your last debit amount from my bank account, I have paid $XXXX on my loan, which means that I only owe $XXXX. I am willing to pay this, as it is the legal amount by (sate) law.

However, I have had unauthorized debit charges from companies against my bank account and was forced to close my bank account. My account is no longer active.

I will need to make payment arrangements with you to pay the $XXXX owed to your company.( Please only contact me via US Postal Service or email regarding this matter. I am sure that we can come to some sort of arrangements for the $XXXX. I will have to make payments to you, as I cannot pay it all at once.) ( or you can write, I am proposing (x number of) payments in the ammount of $XXXX via money order to be received by your company on the following dates: (list dates)

I request that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records.

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial instituation of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.

If the above requests are not met, I will have no other option than to file a formal complaint with the State of ??? Attorney General as well as the office of (your state regulating agency)
I would like a response from your company no later than (Date), regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

I understand that I do owe $XXXX and wish to make payment arrangements with your company. Once the $XXXX is paid in full, I expect a statement with Paid In Full status marked on it.

Please respond by (date), regarding this matter by US Postal mail or by email only.

"Your name"
SS# xxx-xx-xxxx
[/quote]

You are going to need to insert the state law for each pdl and where it is licensed, for example, Zip Cash, you would insert the New Mexico, pdl laws. I overpaid all mine so I am trying to research for you what others have done. I am sure someone will jump in as well if they have any additional information to add for you.

Sub: #18 posted on Mon, 08/11/2008 - 11:06

RoxyNY RoxyNY
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(Posts: 4178 | Credits: )

Diane, I am typing as fast as I can...I am at work too so sometimes I get interrupted. I really hate it when they make me work for my paycheck! :wink:

Sub: #19 posted on Mon, 08/11/2008 - 11:07

RoxyNY RoxyNY
Moderators
(Posts: 4178 | Credits: )

Thanks. I'm going to work on this at work tonight. If someone else has something else to add, please do. Where do you find out if they are liscensed? Just curious.

D

Sub: #20 posted on Mon, 08/11/2008 - 11:29

Unregistered


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