Payday loan mess
Date: Sat, 11/22/2008 - 08:06
In May I had my first PDL with ameriloan for $400 and paid $640, then in Aug I got a $500 loan from them and have paid $380.
In June I got a loan with Paycheck Today for $300 and paid them $975 then in Oct I got another $300 loan and have paid $180.
In Oct I got a loan with Instant Cash USA for $300 and have paid them $120.
I tried to get my bank to stop the ACH withdraws but they keep telling me they can only issue a stop payment with an exact amount and name of the company.. There is no local branch that I can walk into because the bank is a special service through my husband's union and there are no local branches. I also can't place a hard block for the same reason - I can't walk into a branch and get cash. I am not sure what to do as I am overdrawing my bank account and end up paying hundreds of dollars a month in fees.
Can anyone offer me any direction that I can stop this from continuing any longer?
I am in the exact same situation as you! The closest branch of
I am in the exact same situation as you! The closest branch of my bank is 3.5 hours away. This is what I did: I called the branch where I initiated the account and asked to speak with the branch manager. I explained the proximity issue to her first thing then i explained the problem. I let her know I had sent ach revocation letters to all of the companies operating illegally and she e-mailed me affidavits to fill out so that the bank investigators could try to re-coup some of the funds. I will underscore a piece of advice that Shazzers (one of the moderators) gives: Do not tell the pdls you are going to close or freeze your account before you do. Like you, I had a loan with Paycheck Today and the minute I sent them the ACH revocation letter they took the entire amount they felt I owed out of my account. You have to freeze your account before you start dealing with them.
I called my bank, which is actually located in Indiana, while I
I called my bank, which is actually located in Indiana, while I am in Florida. The bank rep was great. She told me that the only thing I can do is close my account and she helped me open a new one so that once my direct deposit hits (and covers my now negative balance) I can close my account. I also asked her if an ACH would force the account back open and she told me no. I am feeling a bit better, but I know that I am not done yet.
Hlc5730 what bank are you with , no offices in florida
hlc what bank are you with, that they dont have a local branch in florida
it is a benefit through the union ..Affinity Financial and they
it is a benefit through the union ..Affinity Financial and they don't have any locations in Florida
It is my understanding that the only loan I owe on is instant cash, am I right about that?