Payday Loans in VA--HELP!

Hi....I am the one who posted the original message. I didn't realize that it would post as 'Guest'. I wanted to put a name with my post...

dlaw, Welcome. To begin with, would you list yout plds, whether they are storefront or internet, amount borrowed and the total ammount paid to each company
( ie. Cash NEt - borrowed 300 - paid 500) Posting this information will help us guide you in the right direction.

Dlaw, Ok calm down you are not going to jail. Please post for us, who you have loans with, the amount borrowed, and the total amount already paid to each(principle and fees, as one total) ,Let us know which stste you reside in, and if your loans are store front or internet. We will then be able to start to help you get out of this mess.

Here are your state laws for you and everyone else to see (just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
.

Okay....I went through my online bank account statement last night and tried to figure out my online loans as well as my storefront ones. Here's the list....13 in all. (Terrible! I know.)

Storefront:
Check City-borrowed $500-paid $75 (fee only)
Check 'N Go-borrowed $500-paid $750(fees only)
Check Smart-borrowed $500-paid $450 (fees only)
Advance America-borrowed $500-paid $300 (fees only)
Virginia Payday Loans-borrowed $300-have not paid yet-due 9/28)
Check Into Cash-borrowed $500-paid $450 (fees only)

Online:
Payday Today-borrowed $300
UpFront Payday-borrowed $200
MTE Financial-borrowed $300
Impact Cash-borrowed $200
CashNet (Payday Loan Yes.com)-borrowed $350
EDESC (how it shows on my bank statement)-borrowed $300
PayCheck Today-borrowed $300

The fees for the online ones vary. One of them, Payday Today has started taking the $50 principle every time on top of the $75 fee.

I hope this helps...plus thanks for the VA laws info....esp. the # to the state regulator's office!

Thanks Roxy, as always I am on your coat tails

dlaw, you need ot get the bank to do a hard debit block on your account, atleast until it can be closed. This will keep debits from comming out. Also, we need you to list what you have paid the internet pdls. You may need to go back through your bank statements. But we need you to list the total paid on each loan. This will let us help you accurately.

All I would add to Roxy's advice is to read the sticky at the top of this forum regarding the closing of your account. Other than that Roxy is leading you down the correct road. Please follow her advice, and get control of your money. If you have questions as you go along, please ask. we are all here to help you as best we can

I was able to work with my old bank to close my bank account. I spoke with the branch manager and she was nice and allowed me to pay the last $41 in NSF fees...while she is returning all debits that try to cross my account. Today, I paid her the final NSF money, and when there is no activity, the account will be officially closed out. However, the payday loan storefront places are starting to call. I have not talked to any of them yet, but I don't want them to start calling my references and stuff either. What should I do next concerning them? I am sure the IPDL's are going to start calling too when they get the returned ACH's.....ugh....what a mess!

Here is what I have paid the online pdls....to answer Roxy's question from earlier...

Online:
Payday Today-borrowed $300 paid $360-4 pays @ $90)
UpFront Payday-borrowed $200 Paid $180
MTE Financial-borrowed $300 Paid at least $360
Impact Cash-borrowed $200 have not paid...the last ipdl I took out
CashNet (Payday Loan Yes.com)-borrowed $350 paid at least $315
EDESC (how it shows on my bank statement)-borrowed $300 paid at least $360
PayCheck Today-borrowed $300 paid at least $360

All of the paid parts on these loans have been in the form of fees. I have not paid on the principle.

Any help or advice you guys could give would be absolutely great. I so want to get out of this hole I am in.....thanks in advance!

dlaw, regarding your storefronts, you're going to have to contact them. If you do not contact them, they are going to contact your references. And that sucks. If they can't get ahold of you, they will call them. Call your storefronts. Tell the THE BANK closed your account. Criminal action is prohibited in your state, so they won't get you on a "bad check" charge. But you DO need to contact them. Every one of them. Or you're going to have your references getting phone calls every day. Believe me. Call each storefront, talk only to the manager. Tell them the BANK closed your account. Tell them you do NOT have the money to PIF and you need to make payment arrangements. Some are going to be nasty, but let them vent in your ear. Whatever floats their boats. Some will be very easy to deal with. They are all different. But, I can not stress enough that you need to contact them. And if they call you, you need to take their calls. This is the only thing that will prevent them from contacting your references. Plus the fact that they ar operating legally and within your state laws. These need to be paid. However, tell them you need payment arrangements. Only agree to what you can actually afford to pay. Because once they're willing to set up payments with you, you need to stick to them and pay when you say you're going to pay. Okay? If you have any questions, just post! :D

I got several letters in the mail today..."late notices" from the storefronts. The internet pdls are stating to call to b/c the ACH's were returned yesterday from my old bank. One even called my work....and the public service reference desk at my library at that! I told them that I could not talk to them at the moment b/c I was at work, and that I would call them back....which I got too busy to do. Should I call the i-pdl's back? Any help is greatly appreciated! I want to make sure I am proceeding in the right direction.....thanks in advance!

Did you make sure to include that they are only to make contact with you in writing? If so, I don't think I would call them back. They should be in receipt of your letter in the next couple of days and they will be able to see in black and white that you wish to communicate via writing. If not, then maybe you should send them a follow-up cease and desist letter requesting to not correspond orally, but in writing only.

dlaw, do not take the internet pdl phone calls. If they continue to call, just keep emailing them to only contact you via email or USPS. Do it as many times as it takes. They will eventually resort to email if they know they can not get you on the phone. If you get stuck with them on the phone again, tell them to only communicate with you via email or USPS and hang up. After hanging up, send another email stating again not to contact you via telephone. I know it's a pain in the butt, but I sent my pdl's a million emails. Every time they called, I sent the email. Keep doing it over and over. I'm sorry they're bothering you. They might continue to; however, just try to stick to NO phone calls with them. You need documentation of everything.

I did some searching on the Bureau of Financial Institution's website for VA...and I found out that those pdl companies that do business in VA must have a license to do so. So, I am writing the BFI to ask if the ipdls I did business with are, indeed, legal in VA, because when I looked on the list of pdl companies allowed to do business in VA, none of the internet ones were there. All of the listings were for storefronts. Here is a copy of the email I am sending:


Hopefully, they will provide some good advice....

The VA Bureau of Financial Institutions wrote back! Here's what they said....