Please help pdls got me in a bad spot.

Since your SSI is direct deposit I would go to the bank and speak to the bank manager. Tell them that you have two PDL companies that you had a loan with that you have discovered are illegal and they are continuing to take fees out even though you are paid with them. They can put an ACH block on them. They may charge you a fee to do it.

When I went in the first time to block one I was in the red so she waived the fee so they may do the same to you. Make sure you actually go to the bank and make sure you speak to the manager. Mine was very helpful and understanding.

After you get the blocks in place then send each an email stating that you have discovered they are illegal and you only owe them the principal on the loan which you have already paid.

Make sure you include that you revoke all ACH or wage assignments and to only contact you via email or US Postal Service.

Here is a smaple letter you can use. Just enter your information.

Quote:

Hello. I'm new to this site, but I have found some helpful answers to my questions already. I also currently have 5 payday loans out that I have take over the last 2 1/2 months due to my husband being laid off and the holidays. These people harass me at work, home, send nasty letters, and make threats of prosecution for fraud if I don't pay. My loans are with ameriloan, One Click Cash, Loan Point USA, Nationwide Cash, and Outback bucks. I live in Indiana and obtained each one of these loans via the internet. I have paid the rollover fees for 3 of them repeatedly. I more recently took out the other 2 just to make ends meet because the the fees from the first 3! Then I found my job in jeopardy, so I closed my checking account prior to paying any fees on the last 2. I've got this so messed up. I have called and tried to make payment arrangements, but they all want the first payment to be on my next payday and they want half of the loan or a third of it paid via money gram on that day. If I could afford to do that, I would have just kept paying the rollover fees. I really don't mind paying off what I owe, but I need to get them to take much smaller payments but they just won't listen. They say I'll be arrested for fraud and threaten me on every call. What can I do to make this stop. This is ruining my life. These companies are horrible. Any advise you can give will be very much appreciated.

Also, since you are disabiled, your more than likely under the poverity limit. The electric company should have some kind of eletrical assitance. I would talk to your electric company about it. I know here, if your medical conditions deem you need eletric the eletric company cannot shut you off. If you have any agencies that help with disabiled they should point you in the right direction to get assistance w/ the Electrical company so they won't shut you off.

I will go talk to my credit union monday. I'd have gone already but now i've got strep throat :( I have applied for MT fuel assistance last month, but the electric company says it only covers future bills not past due. Oh well, I found out they can't turn off my electric because it's my only sorce of heat.
I sure appreciate your help and support in this and suggestions. The sample letter is great. I was so lost before I found this forum! I want to personally thank everyone who puts in there time to help us, when you get caught in this PDL mess it sure makes you feel worthless. It's nice to know there's ones out there who've done it to and willing to help.

And julie2001joe I'm new to this to so I can't help much hang in there!

julie2001joe what state do you live in? That can help determine if any of the loans are illegal. If they are illegal then you only owe the original amount borrowed.

I live in Indiana. I looked on the Secretary of State Website and couldn't find any of the companies, but I was really sure what I was looking for. I don't mind paying...I just don't want to go to jail

I _______, hereby prohibit you or your affiliates from contacting me via telephone at my place of employment or my home telephone number, effective immediately. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately.
You may contact me only by email ________________ or mail _______________________.
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 institution 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.

Your interest fees, multiple rollovers and unlicensed status are all illegal in the state of Montana. I do not believe your company to be licensed in Montana, and even if you are:
(1) you are not listed as a licensed Deferred Deposit Lender ("Payday Lender") or a consumer loan company in 2008 by
Division of Banking and Financial Institutions
301 South Park, Suite 316, PO Box 200546, Helena, MT 59620
Phone: (406) 841-2920 Fax: (406) 841-2930
(2) as I state in this letter you do not follow laws legal Montana guidelines in Montana Code Ann. ???? 31-1-701 et seq. and "31-1-723.
Montana Code Ann. ???? 31-1-701 et seq.
" Loan terms: Term cannot exceed 31 days and amount, exclusive of allowable fees cannot exceed $300. Minimum loan amount is $50.
Permitted charges: Not more than 25% of the face amount. Insufficient fund fee cannot exceed $15 and only one can be collected and is the exclusive form of late fee allowable."
"31-1-723.
Prohibited acts: A licensee making deferred deposit loans may not commit, or have committed on behalf of the licensee, any of the following prohibited acts:
(1) engaging in the business of deferred deposit lending unless the department has first issued a valid license;
(6) using any device or agreement that would have the effect of charging or collecting more fees, charges, or interest than those allowed by this part, including but not limited to entering into a different type of transaction or renewing or rolling over a loan with the consumer
I have contacted legal counsel regarding your internet payday loan and was informed it is indeed illegal in Montana and was advised to pay what is due according to principle amount only of the loan.

The legal amount that could have been charged to my loan is the principal amount of $400.00. The rollover fees and intrest you have taken are to be applied to the initial amount borrowed. I only owed $400.00 and have paid this in full. Since your company has exceeded the maximum loan amount and has exceeded the maximum finance rate and fees, I am requesting a refund for the overpayment which I am owed. To date I have over paid $80.00 on this loan.

Mont. Code Ann. ???? 31-1-701 et seq.
" Private right of action: Any violation this act constitutes an unfair or deceptive trade practice. Consumer can sue for actual and consequential damages, and statutory damages of $1000 per violation plus costs and attorney????????s fees.
Consumer can also seek injunctive or other equitable relief and bring the case as a class action. Remedies are not intended to be exclusive.
Criminal/civil penalties: Any person who knowingly violates the act is guilty of a misdemeanor and is subject to a fine of not more than $1,000 or imprisonment not exceeding 6 months or both."
Finally, please be advised that I am not above taking legal action against your company. Your interest fees, multiple rollovers, and loan amounts exceed the maximum allowed in the state of Montana. I will contact you again once my attorney is retained.

Quote:

I just closed my bank account, and opened a new one! I'm excited and scared. I also emailed both ameriloan and USfastcash the letter and sent it certified email. By the way I jouned your forum officially I had to use anotyher name. I was guest mistyann75.