MultiSourceLoan & OneClickCash in NC
Date: Wed, 06/27/2012 - 16:27
My father is a senior citizen who lives in NC and filed for a $600 loan with Multisource and a $300 loan with OneClickCash. They're both bleeding his SS check each month.
We just found out about it, and want to pay it off. We can afford to pay the full principle, but:
1. Should I? According to this site, payday loans are illegal in NC. Should he just deduct what he's paid from the principle, pay whatever remains, send the letters that are on the "Dealing with Unlicensed Payday Lenders (step by step)" posting, shut off one set of bank accounts and open another?
2. What pitfalls in the payoff process should I avoid?
3. How do I best protect him against them coming back after payoff - explain to the bank and open a new account?
Same boat.
I to am in the same boat. I am a disabled vet and receive Social Security disability living in NC. I knew they were illegal in NC but needed the money. The best thing is to close the bank account now and get control of the money again. All they can do is call and harass you but if you have already paid their so called Service Charge a number of times I would see them as being paid in full.
They know they are illegal in NC. Anyone lending to a resident of NC has to be licensed to lend in this state and none are licensed. I myself have 7, I was helping people out but couldn't get the money back so I had to keep my head above water but once I started getting them I went down farther and farther.
Copy the link below and use the letters in this forum. I also let them know I am sending info to my states Attorney General if I or any one of my references a are harassed.
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
1. Yes, PDLs are illegal in NC. You only owe these illegal lende
1. Yes, PDLs are illegal in NC. You only owe these illegal lenders the principal amount that you borrowed. Follow EVERY step mentioned in the 'Dealing with Unlicensed Payday Lenders' post. Everything should fall into place.
2. They are going to ask you for your new banking info, credit card number, etc. Don't give out any information. Only agree to paying via money order or a prepaid debit card.
3. They can't come after your money if you put it in a new bank account. Just don't share any kind of banking or financial information with them. File complaints with the AG and the FTC as well.
