Debt Consolidation Forums Payday Loan help forums

what should i do ?

Date: Mon, 08/11/2008 12:35

Hi,
I have been a lurker here for a while. I have some pdl's and from reading others stories I have called and made some arrangements. My question is regarding a company called Cashback Payday Loans in Nevada.
I did an online pdl with them.. for $450 + fees of $562.50
I did 4 automatic roll overs & then I called them to make an agreement. So they agreed to have me do 5 payments of $112.50. The first one was just the refi fee and then the other 4 would be to pay off the loan. Here's the thing, they should have debited $112.50 on Friday Aug 8th which would have been the first payment towards principal, but they didnt.
So What should I do? Should I call them? I actually dont have the money for them to debit this time, but will next payday
I am in the State of Washington, so I have figured out that they are not legal in WA. I know I could send them a letter that I have found that they are not legal & stuff, but I dont want to go thru the hassle of closing and reopening bank accounts if I dont need to. Im ok with makeing their 4 payments if thats what they want, but Im wondering what should I do since they didnt do the debit?
with the 4 roll-overs, I did pay them back the initial amount loaned.
Any suggestions.

Other pdls are Nationwide cash $300 for $390 4 roll overs and am now doing a paydown
Cashnet $450 for $512.50- which actually I think my bank just returned
and cash Central $500- $575 which will completely pay off on 8/22
Thanks
Renee

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Total Replies: 15

Hi nayner,
Just to clarify, what have you paid on these, total with fees? If you can list them again and post the original priciple borrowed and the amount you've paid, someone who knows your states laws can help you out a bit better.

If you do a search in the box in the upper right hand corner for your state's laws, you might be able to find out some more information.

Keep your chin up!
Jen

Sub: #1 posted on Mon, 08/11/2008 - 13:11

jennifer_bailey75

(Posts: 154 | Credits: )

Is your Cash Net Cash Net USA or Cash Net 500? It will make a big difference.

Cash Net USA and Cash Central are legal lenders.

Sub: #2 posted on Mon, 08/11/2008 - 14:22

goudah2424

(Posts: 7936 | Credits: )

Ok, dont know where my post went.. so i will try again. My name changed to naynernayner

Cash Net USA (legal in Wa) borrowed $450 owe/due on 8/8 $510.75 (no rollovers allowed)

Cash Centrual (legal In Wa ) Borrowed $500 owe/due on 8/22 $575

Nationwide Cash. Borrowed $300 have paid $450 (4 roll overs at $90 each) in fees and $50 toward principal. Owe $ 325 now

CashBack Payday Loans Borrowed $450 have paid $450 in fees (4 roll overs) Made an agreement for 5 pymts of $112.50 for a total of $562.50 - Paid $112.50 towards it. still Owe $450 but they didnt debit my acct on 8/8 for the 2nd payment

Sub: #3 posted on Mon, 08/11/2008 - 15:15

naynernayner

(Posts: 31 | Credits: )

BTW - Washington law specifically states that a loan from an unlicensed company is unenforceable and uncollectible.

I would concentrate on paying off Cash Net USA and Cash Central, since they are the only legal companies.

Nationwide and CashBack, well, you've paid more then principle in fees. You don't owe them another cent!

Sub: #4 posted on Mon, 08/11/2008 - 15:23

goudah2424

(Posts: 7936 | Credits: )

Ok, since I dont owe them another cent........

how do I get them to stop collecting? I dont want to have to close my bank account
:sun:

Sub: #5 posted on Mon, 08/11/2008 - 15:31

naynernayner

(Posts: 31 | Credits: )

You would have to close the bank account - There really is no other way around it.

Is there a specific reason you don't want to close the account?

Sub: #6 posted on Mon, 08/11/2008 - 15:37

goudah2424

(Posts: 7936 | Credits: )

I know that closing our bank account is a royal pain, but like goudah said, it really is the only way. You have more than repaid. If they have access to your money they will debit it FOREVER. Please give it some thought.

Sub: #7 posted on Mon, 08/11/2008 - 16:43

llw1995

(Posts: 1422 | Credits: )

yep, dont want to close the account, cause it is joint with my husband & I have direct deposit into it.

My husband is not able to get another account for another year due to a previous problem checking acct, that was actually paid in full, but the bank reported it anyways.

Oh well i will just go with the agreements I have & pay them in full.

but my original question was never answered... as to Cashback, since they didnt debit my acct yet... should I call them ? I guess if they dont do anything by the next pay date then I can be sure to call & find out whats going on
Thanks for all your other help

Sub: #8 posted on Mon, 08/11/2008 - 16:52

naynernayner

(Posts: 31 | Credits: )

I wouldn't worry about the "late" debit. I am sure it will show up, eventually.

Sub: #9 posted on Mon, 08/11/2008 - 17:15

llw1995

(Posts: 1422 | Credits: )

Check out our banking forum here - MCA (Mary) is amazing at finding people bank accounts that are on Chexsystems. I'm on Chexsystems and I have 4 accounts at 2 different banks.

It's really worth it to close the account.

Sub: #10 posted on Tue, 08/12/2008 - 06:58

goudah2424

(Posts: 7936 | Credits: )