Payday Loan HELL - help!
Date: Sun, 10/19/2008 - 14:51
(1) LoanPointUsa.com (Geneva Roth)
Borrowed $400 on 7/14/08. They continue to rollover the loan and I have paid them 6 payments of $120.00 each for a total of $720.00
(2) Arrowhead Investment (1-866-355-7308)
I borrowed $250.00 on 7/17/08 and have made 5 payments of $75.00 each for a total of $450.00
(3) CashTransferCenters.com (Northway)
I borrowed $500.00 on 9/23/08. When they tried to take the full amount due of $599.90 out of my bank account, it was returned for NSF. They then charged me $58.00 in additional fees and have been hounding me ever since. I sent them a payment of $200.00 via MoneyGram on 10/10, and am supposed to send the remaining $457.90 tomorrow.
(4) Cashback (Where do I begin??) I originally borrowed from them a YEAR ago, and have had a total of 7 separate loans for a total of $4100.00. I have rolled them over multiple times, and paid them back $5825.00 so far. My last loan was on 8/29/08 for $600.00
(5) CashnetUSA.com
Same situation as with Cashback. They require payment in full with each loan - no rollovers. I have borrowed and paid them back 10 times, and currently have a loan out for $700.00. I have borrowed a total of $4800.00 and paid back $5503.00 so far.
I have read all the information about closing my back account and/or blocking ACH withdrawls, revoking payroll authorization from my employer, and seen the sample letters to write to the PDL companies. Considering the above information, do you think I owe any of them anything, or should I just refuse to pay any more?
reply
i am not fron ohio,but from reading shazzers posts on these places i can tell you this.
your top three are all illegal.especially cashtransfercenters.they are located overseas.you only owe them the principal.so you only send 300.00 more to cover this then they can go scratch.
loanpoint and arrowhead arealso illegal so it looks like you have overpaid them.the bottom two CASHNETUSA and CASHBACK are legal.you should work something out with them.you only owe cashtransfercenters 300.00 not 457.90 do not let them tell you different.
Oops!
First of all, I didn't expect my full name to be listed under "author"...anybody know how to change that and get it off of there?!
It sounds like I might be screwed with Cashnet. But since rollovers are illegal in Ohio, do I have a case with Cashback?
Don't forget that if you do send money to any PDL send a money o
Don't forget that if you do send money to any PDL send a money order and keep the receipt. Never wire transfer or send personal check(they will debit your account dry if you send pc)
The best way to pay these PDL's if they will not take a money or
The best way to pay these PDL's if they will not take a money order is with a prepaid visa card. They can only get what you put on the card nothing more.
It looks to me like CashnetUSA has a license for short term loan
It looks to me like CashnetUSA has a license for short term loans in Ohio, therefore you will need to contact them and try to work out some type of payment arrangements with them.
Is Cashback a store front lender or Internet? I can't locate a license for them, and the rollovers are a good indication they are licensed to lend to Ohio residents. CLICK HERE for the licensee data base for Ohio.
Cash transfer Center is illegal and based in Canada and Malta.
Cash Transfer Centers
Email: customercare(at)cashtransfercenters.com
Fax: 866-809-4069
Level 8 Suite 3
Plaza Commercial Center
Bisazza Street
Sliema SLM15, Malta
phone: 1-866-958-3278
fax: 1-866-809-4069
Loan Point USA illegal/unlicensed
1-800-351-8820 Ext: 304
1-800-351-8830 Fax
I hope the information below will help you. :) You are only obl
I hope the information below will help you. :)
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
[quote]What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE
What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.
File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.
Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.
Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/quote]