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oh please help with this

Date: Tue, 06/28/2011 - 15:10

Submitted by anonymous
on Tue, 06/28/2011 - 15:10

Posts: 202330 Credits: [Donate]

Total Replies: 3


I took out a loan for $200 they charged a $10 fee for convenience for depositing it. The next month they took $100 out, I asked and they said they take $100 out until paid, I thought oh okay interesting. Then I realized the next month that my balance says I owe $300 and so far to date they have taken $400 and this month they say they are taking another $100 plus the $300 I owe for borrowing the money. I cannot get anyone to call me back or email back and no one answers the phones. I have asked for a copy of my contract and they say that it doesn't state this in my contract. I think that I have well paid for this loan & am freaking out about paying any more for it. Is there anything that I can do about this?


You haven't mentioned the name of your payday lender or the state in which you live in. Unless you mention the names, it will be difficult to give you any suggestions. Nevertheless, you can check out your state pdl laws from the given page: http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html . If you find that your payday lenders are illegal and unlicensed, then you should check out the given page to know what steps you can take against them: http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html .


lrhall41

Submitted by Anna Sweeting on Tue, 06/28/2011 - 20:53

( Posts: 1827 | Credits: )


is California--the stated that they were located in Delaware. The name of the company is ABCpaydayloan.


lrhall41

Submitted by on Tue, 06/28/2011 - 21:20

( Posts: | Credits: )


ABC is not licensed to lend in the state of CA. Your contract with them is void. You should only repay the principal amount of the loan, as a matter of principle. If you've already paid $410 on a $200 loan then, they owe YOU $210.

First, close your bank account. Your money won't be safe again.

Then, use the template(s) [URL="http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html"]found here [/URL]to send a letter (email is fine) to the lender explaining your state's laws regarding payday lending and to demand a refund of the overpayment you've made.

[QUOTE]
CA FINANCIAL CODE SECTION 23005
(a) No person shall offer, originate, or make a deferred
deposit transaction, arrange a deferred deposit transaction for a
deferred deposit originator, act as an agent for a deferred deposit
originator, or assist a deferred deposit originator in the
origination of a deferred deposit transaction without first obtaining
a license from the commissioner and complying with the provisions of
this division.
[/QUOTE]

Also file your complaints with the FTC and CA's Attorney General's office.


lrhall41

Submitted by OhioGal1 on Wed, 06/29/2011 - 09:09

( Posts: 5253 | Credits: )