Need LOTS of help with Payday Loans

sm, I'm posting your state pdl law. Which basically says nothing. Everything is unspecified, even regarding rollovers/extensions. Yuck. However, just by glancing, some of your pdl's are illegal. So that's a good thing. But, it's also a bad thing regarding the pdl that made an error. They are very illegal. So they will not admit an error and they won't do a darn thing about it. Illegal company. Illegal tactics. Here are your state laws (yuck) for you to see.

D.C. State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

sm, these are all internet pdl's, correct? No store fronts?

Someone will be along shortly that is familiar with your state laws. But in the mean time read this thread http://www.paydayloaninfo.org. It will give you the information that can get you started on the state that you are in.

Hang in there and don't despair, we have all been where you are at right now and you will survive.

ladybug

These are all internet operations by the way

I do know that 500FastCash and Cash Borrower are not licensed/legal. I haven't heard of your other ones. Cash Borrower is ruthless. I'm still fighting with them. Ho Hum. Bored with them now. But if the others (and I don't know about them) are not licensed/legal, you can close your bank account so you're not debited any longer. Look up at the top of the site page and it'll have a "sticky" you can click on regarding closing your bank account. Check it out. If you have any questions, please post them. And, if anyone has heard of this persons other pdl's, please post any information on them. Thanks! :D

If I close my account, and these pdl's are indeed illegal, what happens after that?

Also, am I trying to close my account to early, or can I just go ahead and try to close it without anything happening to me?

sorry that last post was me but i forgot to log in...

My state law also specifies "check cashers only" and in my state internet pdl's are illegal. Since your state law specifies "check cashers only", it makes me think the same for you. However, I am not POSITIVE. Some of your pdl's are scheduled to hit Friday. If you're going to do something regarding your bank account, you need to do it ASAP. You need to read the "sticky" at the top of the site page regarding closing your account. These illegal pdl's will debit you to death with illegal fees. As far as them being illegal, pay the amount you borrowed. The principle only. The money they have debited so far they are calling "fees". No. Those debits should be going towards the principle of your loans. In other words:
Cash Borrower - borrowed 500.00/paid 300.00/owe 200.00
Oasis - borrowed 250.00/paid 150.00/owe 100.00
Edollars - borrowed 250.00/paid 150.00/owe 100.00
One Step - borrowed 300.00/paid 0/owe 300.00
500FastCash - borrowed 200.00/paid 0/owe 200.00
And as for Cash Borrowers "error" - I would certainly address that with them! Might not get you squat, but it sure will come in handy when filing complaints against these companies! You need to act quickly regarding your bank account since your due dates are Friday. Some banks will close your account, but if there are pending pdl's debits, it will force your account open. Then all the pdl debits will go through and the bank will charge fees. Ugly, ugly. Read the link regarding closing your bank account. If you have any questions, please post. We're here to help you!

If I am close to paying some of these accounts off, but have just started on a couple of others, when can I close my account without having to continue to pay "fees" for payday loans where I have already paid the principle?

sm, close your account now. Don't wait. We can work on letters to the pdl's that you still owe money on. We can work on letters to the ones you only owe a certain amount on. If you don't close your account, you're going to be hit by every one of them with "fees" and they're prohibited in your state. You need to close it now so they don't hit it any longer. You can then regain control of your money, send out your letters, file your complaints, and you won't be paying illegal fees to illegal companies any longer. You'll just be paying back what you borrowed. Make sure you understand the procedures for closing your account. If you have questions, just post.

ok so i opened up a new account, but have yet to close my current account, simply because i had a direct deposit coming in. after the fees are taken off tomorrow, I plan on closing the account I have now and transferring what little money I have left from my paycheck. citibank told me that no further ACH transactions would be allowed on my closed account, so they can't force it open and charge me even more. My question is, after I close my account tomorrow, what do i do after that? Could someone give me some links as to what kinds of letters I should write, and what steps to take from here? Thanks a bunch guys!

Wait. Your direct deposit is going in tomorrow? And you pdl's are going to hit tomorrow? Do you know if the pdl's come out LATER or early in the morning? If you can, can you stop in the morning and suck out every penny you can before the pdl's hit?

I hope that you opened up this account at a different bank. I would be real hesitant to open up another account at the same bank for fear that those pdl's will go through that account due to a clerical error.

ladybug

ladybug

sm, please try to get the money out of your "old" account. I can't see any reason these illegal pdl's should hit your account again for more money. If possible, try to get your money out first. Please post as to if you have any questions or about your status. We are concerned about you! :D

sminji...You might be able to get your money after about 11:30 or 12:00 midnight tonight. I know that for me, if I were to be getting paid tomorrow, my bank already reflects my paycheck around midnight tonight. The money is also accessible tonight. My drafts don't actually hit until around 3:00am or so. Maybe your bank is the same way. Try your hardest to get to an atm tonight and withdraw your paycheck. At least you will only have to pay a few bank nsf fees, which are probably going to be cheaper than the pdl rollover fees. Oh yes...be sure to take someone with you tonight so that you will be safe.

eleroo - good advice - be safe. I am in total agreement with her. Me, personally, I would go suck out every penny I could before the pdl's hit. Your NSF fees would be less than the amount of the pdl debits. However, you do whatever you decide to do. Don't just take our advice. You do whatever works for you. We just hate seeing more of your money being taken by illegal companies. Your whole paycheck will be gone before you know it.

Well the account has been officially closed, and Citibank assured me no ACH transactions would be going through to reopen the account, which was a relief. I was going to open a new account at a different bank, but I explained my situation to a Citi representative and they told me that there was no way that these people would be able to access any of my account information, unless I gave it to them, which I wouldn't dare do again.

Since then, I have been able to actually keep a full paycheck and use it for food and necessities!

My only question now is, what is the next step for me? Onestepcash.com has sent me an email saying my account will be debited on 9/7/07, but I haven't gotten any correspondence regarding my last payment, which didn't even go through. Any reason why these people aren't all over me trying to keep getting fees?

You guys are seriously the best. I don't know what I would do without you! =*)

sminji! I've missed you! :D Good! Your bank account is taken care of. Now you won't have to worry about the pdl's hitting it any longer. And you've gotten a real paycheck again! Congratulations! Are you feeling like a "normal" person again? Now, it's been awhile since you've posted. Did you send out letters to your pdl's? You know, the ones telling them not to debit, etc? Did you file your complaints? If you've done this, your pdl's probably haven't "caught on" that thier debits are being rejected. Sometimes it's like they don't even receive any correspondence from you. Amazing. It took a few of my pdl's two or three times at getting their debits rejected before they figured out what was going on. (Just a little slow!). That might be what's going on with you. Just refresh my memory - you sent them letters and you filed complaints, right?

Sometimes it takes a while for the pdl's to contact you. It really can be hit or miss when predicting their behavior. Sometimes they will aggressivly pursue one person, and ignore another. There really is no rhyme or reason to their actions.

Have you sent out letters to them yet?

I haven't sent out letters to them yet, I was frantically trying to get the account closed and opening up a new one, just started a new job, moved to a new place and such. Do you guys have previous letters or templates for complaints that I can use? Thanks! =)

sm, that's fine! You've gotten your bank account straightened out. That's the first step. Now you will be able to have your money each week! We need to send them some letters and also file some complaints. Let me re-read this thread and see if you've listed what pdl's you're dealing with. Hang on. I have to "refresh" my memory! :lol:

Okay. I read it. Let me know if the amounts are still the same, as the pdl's did not get their last debit (correct?)

Cash Borrower - borrowed 500/paid 300/owe 200
Oasis - borrowed 250/paid 150/owe 100
Edollar - borrowed 250/paid 150/owe 100
One Step - borrowed 300/paid zero/owe 300
500FashCash - borrowed 200/paid zero/owe 200
Your Cash Borrower "mistake" of 650.00- did they every "fix" that?

Post to let me know if the above amounts are correct & also let me know what happened with the 650.00 from Cash Borrower.

Cashborrowers 500/paid 300

OASIS1 MARKETING 250/paid 225

EDOLLARSDIRECT 250/paid 225

ONESTEP CASH CREDIT 300/paid 90

500FASTCASH 200/paid 60

cash borrower gave me my 650 back, but only after about 2 weeks of fighting on the phone, multiple faxes. They didn't refund my overdraft fees and my check boucing fees, which they said they would. Also, their phone number listed in the transaction only worked some of the time... Either way I got my money back, but they way I see it they owe me about 200 dollars in overdraft fees and check bounced fees.

Before I closed my account I let the account get debited one last time, so I at least had some money from my paycheck to take home, and that I would be assured more of the principle was paid off. Cashborrowers did not not collect 150, but since their "system" was messing up, I'm not surprised.

Cannr is right about DC law. DC only licenses businesses that cash checks too. No ipdl cashes checks, so they cannot be licensed.

Congrats SM...I am just going through the same thing and wasnt going to close my account either until after my direct deposit hit. Well luckily I checked the morning of payday and my deposit posted but NO pdl's debits...let me tell you, wild horses couldnt have held me back from getting to that ATM to take out my $$ and then came back to work, called my bank (also my employer) to close my account.

sm, okay, I see some pdl's took debits since your last post.

Cash Borrower - owe them 200
Oasis - owe them 25
Edollar - owe them 25
One Step - owe them 210
500FastCash - owe them 140

As far as Cash Borrower and the 650.00 - be grateful you got your 650.00 back (and I'm sure you had to fight for that!). However, do not hold your breath for them to pay any bank fees. These guys are going to be NASTY as all you know what once they get a letter from you. Believe me. I've dealt with them also. The ones you owe 25.00 to, I just want to laugh! They should just mark you PIF and be done with it. Will they? No. They'll insiste you owe a few HUNDRED dollars. God love them all.
Do you know how to use pm??? I can pm you a letter to use as a guideline to send these nasty people.

cannr, I sent you a pm. I hope it worked, I just clicked the pm button under your post.

sm, we're doing good here! :D If you have any questions, just post or pm me! :D Let me know what you think.

Well I've begun to send out those letters and everything seems like it will work out. You guys have really helped me pull through, especially you cannr, you have been my angel these past couple of weeks!

Minji

minji - Thank you! :D You've made my day! Now, you know, if you have any problems or run into any trouble, you just get back on here and let us know. We can help you out of it. You're doing great! :wink:

I read that in accordance with the Electronic fund transfer act you have the right to revoke electronic withdrawal by lenders.
So is the bottom line to close your banking account if you have payday loans. In my case in PA it is mandatory where i work to have direct deposit.

I have been sending out letters but I got this email last night and was wondering if you guys know what to do about it.

Quote:

sorry that last post was me, minji, I just forget to log in sometimes...

minji, it seems as though your illegal pdl's have sent you to illegal collections. They don't have your correct address? Good. They have your email. Good. They can do all their communicating via email. Do they have your current telephone number? If so, if you get phone calls and do not recognize the phone number, do not take the calls. These people are notorious for threats and illegal tactics to scare people. minji, if at all possible, do not speak with them via telephone. Only communicate via email. You need to get everything in writing because they are going to try to break every law you can imagine. Do not be afraid of the email they sent. So they sent your pdl's to collections. Almost everyone here has had thier accounts sent to collections. You're okay. My only concern is them contacting via telephone. I don't want you to have to go through the stress of their illegal ways and them trying to scare you to death. Do they have your current telephone number? Do you have caller id? Do they have your employers telephone number? Your best bet is to not take the calls at all. If possible, if they call you at work, route the calls around you so that you don't get them. If at all possible, if they call your employer (and you're able to do this) tell them you "no longer work there". Let me know if they have your current telephone numbers. In the meantime, do not be frightened of them. Okay? Let me know.

They DO have my work number, but everyone here knows the situation I am in and they are glad to help. They're going to tell them I no longer work here and that I will not be able to take their calls. Since these places are illegal loans, they don't affect credit or anything right? I really hope they don't.

My next questiion is, how long before all the calls stop? I sent out the letters, haven't gotten any replies of yet, but hopefully I can just pay them off and be done with it.

Thanks!

minji, I wish I could tell you that nothing will happen regarding collections or your credit report. I can not tell you that. I've been hit with illegal collection agencies and also hit on my credit report by an illegal collection agency. This is beginning a whole new fight. Kind of like fighting the pdl's in the beginning, only now it's collection agencies. Same procedure. Fight, dipute, file complaints. I don't want to scare you. But this took me by surprise (and I've gotten used to surprises from the idiots). Goudah is the one who told me to make sure my credit report hadn't been hit. So I checked. Yes, there was one on there. New battle for me. The calls at your place of employment will eventually cease once they realize they can not reach you. However, they will never stop totally. I just got another pdl calling me at work today after about 4 months. They lay low for awhile, but then hit again. Again, not trying to scare you. I'm just being honest as to what you may expect. This is not saying it WILL happen to you. It's just saying that it is possible. Unfortunately. Never let your guard down. Never think they have "gone away". And check your credit report to see if anyone has reported you without your knowledge.

Well the I guess the long fight has begun... But this has been an extremely helpful learning experience and I will be sure to pass this information on to other people as well, for knowledge is power.

Well I got my first letter from Westbury Ventures, has anybody heard of them? Here is what the letter states (I'm just paraphrasing here):

You got a loan from us and your account is delinquent. You signed a written agreement and now you are in breach of that agreement, etc.

What do I do now?

sm, I got your pm and responded. :wink:

these internet pdls are killin me financially i have five. and i cant get caught up on my bills with them taking $400 out of my bank every two weeks im just getting further behind. any advice. i was reading the above statements and u had said to stop payment on them is that correct? i need help i want to pay them off but i cant do it with them taking out as much as they are. please give me some advice

If your old act is still open, can you have it put on "deposit only" status? That might help.

buddha, we can help you with your pdls. We need to know what state you reside in so we can check the pdl law for you. Also, are these internet or storefront pdls? If you can give a little more information, we can help you. :D

i live in south carolina where they are trying to ban pdls all together. the loans i have are internet pdls. i closed my account out 1 week ago this friday and by tuesday they were already calling. today is thursday and i have just received an email from one of them stating that i have been sent to collections.

hello all has anyone gotten any info for me reguarding my situation? please help me

South Carolina State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

buddah, so sorry for the delay! Our apologies! I understand that you have 5 internet pdls, correct? Can you please list out who they are, how much you have borrowed (principle amount only), how much you have paid back (total to date). We can help you. :wink: