Seven PDLs, closed account - what to do?

Thank you! What does PIF stand for? Sorry to sound so dumb at this. Again thank you for your help.

PIF means Paid In Full. And welcome to my thread!! We're all in the same crazy boat here.

chroma is there a step by step process, or list of some sort found on this website that you used as a guide to combat these PDL congrats on your success so far btw

It ain't over till it's over! Please feel free to peruse this thread as it does kind of make the procedure evident. The people here, particularly Alias and Roxy, were incredibly helpful. It's vital to get complaints filed with your state banking authority/AG/BBB. The most vital step is closing your bank account. And every PDlender gets a certified C&D letter.

I was also lucky because I'm in NJ, and PDLs are illegal here. They go to bat for you just by being listed on the complaint.

Just start your own thread and people here will help you through it. In your opening post, list all your PDLs, amount borrowed, and amount paid. Tell us your state. There are links embedded throughout my thread that can help you too. There are templates you can use to base your letters on. Good luck!

Credit Protection is a DBA of MyCashNow.com

Please see my post for HELP IN PA.
I haven't reveived any responses yet...time is closing in on my next due date...please please help!

Please see my post for HELP IN PA.
I haven't reveived any responses yet...time is closing in on my next due date...please please help!

Close your bank account at once. Open a new one. Write each PDL a letter similar to what I posted, except I don't live in PA, so look here: http://www.paydayloaninfo.org/state_detail.cfm?id=PA

Note that PDLs seem to be more legal in PA than NJ, but odds are they are exceeding the small loan cap. You might try a search here for Pennsylvania.

Hello I have been dealing with the same issue as many above.
After some research and reading I discovered the Indiana payday regulation. Of coures I have found this information about year to late and have paid thousands of dollars in interest on PDL's that according the Indiana PDL regulation were not legal in the state of IN. So I started contacting many as yes I had many PDL's outstanding and after e-mailing them many times quoting INndiana PDL regulation on rates etc. and sending copyies of such laws and lots of sticking to my guns. All but two companies have back-off and made my accounts PIF. The two companies I am having trouble with are MTE Financial and Little Loan Shoppe. Both companies have paid way way more in interest pat then the orginal loan amount.
Does anyone have any advise on these two companies.
Yes MTE today told me they are now turning me over to some collection agencey. I have paid them alot of money in interest so far so I feel and think I only owe them nothing.

Thanks
_________________

I am also having similar problems only my payday loans are store based not over the internet. I have three of them but they are depleting most of my paychecks which is making it hard for me to pay my bills. How can I get them off my tail. Can they accept partial payments for me to get them paid off. Oh and I also live in Ohio where they just passes strict laws on payday loans. :oops:

I live in kentucky and some of the payday stores here will let you make payments. The way they do it is send it to the bank as nsf then the checks comes back to them. Then they set up a payment plan for you. It won't hurt to ask.

I HAVE BEEN READING A LOT OF THE FEED BACK FROM EVERYONE. NOW I HAVE A QUESTION MY SON BORROW MONEY WITH A PDL COMPANY, AND THEN HE LOST HIS JOB 3 DAYS LATER, HE HAS SINCE GAIN EMPLOYMENT AGAIN BUT, THE COMPANY CALLS A DEMANDS THAT HE PAY ALL THAT HE OWES OR THEY WILL PROSACUTE, MY SON TRIED TO MAKE A PAYMENT PLAN WITH THEM TO PAY THE MONEY BACK, BUT THEY ARE SO NASTY, THEY REFUSE TO MAKE ANY TYPE OF STIPULATION OF PAYMENT WITH HIM. THEY HANG UP THE PHONE ON HIM AND EVERYTHING, VERY UNPERFESSIONAL. CAN ANYONE GIVE ME SOME ADVISE FOR HIM.

I know for a fact that One Click Cash will settle call them and they will make arrangements and send you a paid in full

Click on the link below then scroll down for a letter template.
http://www.debtconsolidationcare.com/paydayloan/cashdirect-netcashusa.html

OP here, I just wanted to give my thanks to the community here and report that things seem to be calm on the PDL front at the moment. Only Upfront Payday had called a few times, but all the rest have been silent. Now I have to straighten out my CC debt!

I am on the same boat with 7 PDLs. Each of the PDLs range from 200-400. I had to do it due to financial difficulties. Basing on my bank account I can see that I have paid six of the eight. When I contacted the PDL companies they said I still owe and that I need to pay it by the following day. I told them I can see basing on much they took out they I have paid it and even more. I am never contacted when they are taking out and they are taken out bi-weekly. They have been taking it out since November. I had enough with these companies to the point I had to close my bank account. Can anyone tell me if these companies are illegal? I live in New Jersey. I need help.

Here are the companies I am dealing with:

Biggest Cash- borrowed 200 paid $565
Geneva Roth Comp- borrowed 400 paid $1035
SJM Marketing- borrowed 300 paid $540
Ameriloan- borrowed 300 paid $640
Dakota Loan Company- borrowed 100 paid $325
USFastCash- borrowed 300 paid $540
Red River- I never heard of this company and they took $80

There are other companies that showed up on my bank account and I never heard of them. Can you tell me if they are illegal or not:

Loanshop- took $90
TJF- took $120
In'l Payments Svcs- took $75
Ace Cash Services- took $75

I am also trying to get the addresses of these companies. Do anyone know where I can get it. What can I do? I need help.

Troubled in Jersey.

Throught this thread there is a process delineated. I even posted the letters I sent. Modify them for your own use. The letter to the NJ Banking Commission was the most powerful weapon. I'm sure someone here can help you find addresses - look back for US Fast Cash, I had them.

The most important step was closing my bank account. Since you don't know four withdrawals, fraud is the reason. Open a new account. Go back and copy those letters.

You can do this! It might help if you start a new thread, but you're welcome here in mine, fellow traveler.

All those loans are illegal as payday loans are prohibited in NJ.

Closing you bank account is the first step. They will continue to debt if your don't.

How much were the original loans for and how much have you paid including any interest or rollover fees?

You can go here and start reading about the steps to take. You can do this on your own and we are here to help you through it.

I am drowned with at least 8 or 9 PDL. I live in FL. All of my PDL are on internet. Can you tell me if they are illegal?

CAN
TRJ
US Fast cash
United Loan
Cashstar
Cash Direct
East side lender
Payday yes
Pack Management

I did not find any of them on the FL database so they are unlicensed/illegal.

Hi. I've been reading some old posts on here and have seen how helpful this community has been, so it's my last glimpse of hope, and i'm praying there's a chance to put an end to my problems. I like so many others have fallen into the vicious PDL circle and can't find a way out. I am an Idaho resident and my loans are online lenders. They are all in default because I ended up getting my hours cut and had other more important things like heat and housing bills to pay. I've been robbing peter to pay paul, and ended up getting PDLs to pay on PDLs (worst mistake to ever make) I'm in over my head and was wondering if someone could give me some sort of insight or a little light at the end of this long, horrible tunnel.

these are the loans that i have...

CashNet USA-borrowed 750-say i owe 1127.50-paid 337.50

Oneclickcash-borrowed 200, paid about 255

unitedcashloans-borrowed 300, paid 270

payday1-borrowed 500, paid 485

cashstar group-borrowed 200, paid 385

cashcentral-DFS borrowed 300, paid 250

cash central, oneclickcash and cashnet usa are the only ones that really seem to hound me. I've tried to set up payment arrangements that i can afford, and have asked for direct addresses to mail them moneyorders, but they tell me its not enough and i have to pay from my checking account. I want to get out of this hell i'm in and do the right thing. can anyone help me and give me some tips on where to start and what to do? I'm desperate and any help would be so greatly appreciated!

One thing about PDLs - they don't go away easy! Today Alliance Asset Management called on behalf of East Side Lenders, wanting $400. I have always been willing to repay the $300 principal, and told this collection agency that. They settled for $300. It's almost a year later and I'm pretty certain this is the end of it. They are like bugs crawling out of the garbage, but I think with this payment my ordeal is at an end.

I'd like to thank all the members of this forum who have helped me not only with the Payday Loans, but with debt in general. I have managed to get rid of $15,000 of my once $25,000 of credit card debt. And now the Payday Loan debacle is over. It took almost one year to come this far, and while there is still more work to be done, we are getting there. I was lucky, as I am over 62 and could tap into my 401k to start straightening out this mess. Looking back, I am amazed how foolish I was to get myself in these situations.

How I wish I had been taught about credit and loans when I was in high school. There should be a course in personal finance that explains to young people how to manage money. It should include budgeting, using credit cards, what's involved with a home mortgage, avoiding bad loans(PDL!), and doing your income taxes.

Most of us here have made some blunders in judgment and have paid a heavy price. Hopefully others have learned from our mistakes. To those who have helped me, my deepest thanks. I hope this thread was able to help others as well. Again, thanks.

Credit Protection Depot is a collector for MyCashNow and Discount Advances. I have loans from both and i have sent the letters and everything in May. They still have not sent me a license or statement of the account only an email stating that this was a "FINAL NOTICE" and basically they were going to pursue legal action if i did not pay the "settlement amount"

PDM/CPD is full of crap!

Where do I begin looking for KY law regarding PDL

KY PDL state law:

Quote:

Is there a website where I can find out if lenders are legal/licensed in CA? I have one loan with PDL Ventures, and I have one with Ameriloan (for more than the $300 limit allowed in CA, it is for $400).

I have a question that I am hoping someone can answer for me. I haven fallen victim to the PDL spiral and I am barried. My whole check is being eaten up by finance charges from PDLs. I have read the prior post regarding state laws. I live in NY and PDLs are illegal but the loop hole seems to be that the lenders are from states where they are legal. What options do I have? The other thing, is that a few companies have sold the loan to a collection agency so I am not even dealing with them anymore. Help me please!

Your state laws prevail. Pay day loans are illegal in NY. They will tell you that their stat laws are the ones you need to abide by, but it is just a tactic to get you to pay

CLICK HERE to find out how to deal with illegal lenders.

I sent the suggested letters and the response that I received from CashNetUSA is posted below. They are legal in Texas. What should I do now? I plan to go to the bank and ask to put my account in deposit status only. I don't want to close my account because another acct in the past was closed for PDLs and NSF fees. So, I'm afraid that I won't be able to open another account.

CASHNETUSA RESPONSE:
The ACH authorization that you signed upon agreement of loan disbursement is a payment authorization. You are not legally entitled to revoke this type of ACH authorization and we will not agree to any request.

We will need to have a valid payment plan noted for your entire past due balance to cease all collection efforts. Please call our collections department to discuss your payment plan options.

You may review the details of your account at any time by logging on to our website.

We have received and noted your request for ceasing all telephone communications. All telephone communications will now cease.

So you attempted to close your 2nd account due to PDL's?

No, I haven't tried to close my Chase account because I'm afraid I won't be able to open another account. BOA closed an acct that I had in 2007 because of NSF fees and sent me to collections. So, I assumed I wouldn't be able to open another account because of it.

LDM, there are banks that will allow you to open on chexsystems - MCA has a list which helped me find my current bank, there is another way and you will get an account, check out our bank board :)

Thanks, bea2ls. I'll try that. :)

Just ask that your account with Chase be put on "deposit only" status. Then open up another account with the same bank if possible. Make sure they are not linked together.

To find out if BOA reported you to Chexsystems, you can get a free report at the Chexsystems website. This way you do not have to be in the dark wondering if you are able to open up another account. If the balance was small they may have just closed it and sent the balance to collections. I have seen it done before. Best of luck!

I don't know how I got myself into this mess..I keep on paying interest only, I have been reading all of the info above..
are any of these companies illegal in CA?
I need to do something as I have been laid off, and can't keep paying interest..

500 fast cash
payday max
national payday
ameriloan
cash central
speedy cash

thank you[font=Arial][/font][color=Black][/color][size=3][/size]

The first thing you need to do is close your bank account and take back control of you money. Once your account is closed you can then deal with these places.

I know for sure that PayDayMax is illegal.They are not even located in this coountry, they operate out of Grenada. I think your others may be illegal as well, not sure about National PayDay though.

I too live in NJ and was reading this topic which ahs been very interesting but I am a little confused. Are you saying that if you have a current payday loan and live in NJ, you can put a cease and desist on it. I current have 10 of them and have definately paid the pricipal and then some on at least 8 of them. I also ahve a situation that I am try to resolve right now. Biggest-Cash. com just withdrew a principal of $50+$105 for a $350 loan out twice and i am trying to contact them and there is a busy signal on the phone and no response to emails. The website is also not available. I think I'm stuck. What should I do now ????

What we're saying is, Internet payday loans are prohibited in N.J., period. CLICK HERE to find out how to deal with illegal lenders.

There seems to be a wealth of information on this so, figured I give my story too and hopefully I can get some resolution.

I live in NY and now have 8 active loans. I feel so ashamed of myself and just want this to end.

I've dealt with a couple of these for over a year now and am in great standing with these companies since I've always paid back in full even after multiple renewal fees. Its just become way out of hand now. All I want to do is pay the principal balance and be done with this forever. I've just been paying the renewal fees and not getting anywhere.

Here are the thorns in my side-

Company Original Loan Amount Renewal Fees
NATIONWIDE 500.00 75.00
Midland/CMG 300.00 90.00
RBT Loans 450.00 135.00
AMERILOAN 500.00 150.00
USFastCash 500.00 150.00
Loanshop 500.00 150.00
arrowhead/CCMI 400.00 120.00
InstantcashUSA 600.00 180.00

Any advice/direction would be greatly appreciated.

Thanks!

well being as all pdl's are illegal in NY.you only owe the principle borrowed.any fees debited go towards the loan.please try to list how much each pdl got in those illegal fees.you might be suprised by how little if anything you do owe.

Do the PDL companies have anything on you since they make you sign a contract?? Can the signed contract supercede the state laws??

nope,your state laws prevail.in fact no legal pdl would lend in a state where pdl's are prohibited.

Hello to all. I'm new to this site and I am having some issues with PDL's. I am having my account closed and I need to send C & D letters and emails to the PDL's that I have. Does anyone have a template that I can use or give me an idea of what I should include in the letters and emails that I will send to these PDL companies? Any help will be great. Thank you.

To anyone going through the nightmare of payday loans, hang in there. You can get out of the nightmare. I once had 11, and I finally made the decision to close my bank account and write letters to all of them. I created a spreadsheet to track them and what I had paid, etc. You might find this helpful too. The internet-based loans are so difficult due to the layers of "companies" one goes through to get to the actual lender. I know the easy answer is to say to someone, "Just don't take those loans!", but when the rent is due and the electricity is about to be shut off, a person weighs the consequences and there you are.

Anyway, there is a light at the end of this tunnel, and blocking their access to your checking/savings account is the first step towards it.

Are PDL illegal in Texas?

Quote:

I just wanted to say that you were not the only one who got caught up in the pdl mess. I too got caught up in the vicious cycle. I am in the process of getting it cleaned up and fixed. It sounds like you got some really good info from the other guest. Use that info. In the event that does not help contact a laywer. I am working with a bankruptcy lawyer in my state of NC. I hated to go that route, but I was facing losing my home.
Do not beat yourself up.. You were in a bad position and like me probably had no where to turn. I am glad your wife is doing better. I never thought I would get myself in this mess and I beat myself up a lot. Hearing that I am not alone helps a lot.
I wish there were was some way that we could warn people about the dangers of the payday loans. Just keep putting your info out there.
Let as many people as you can know how bad the payday loans are.


[QUOTE=Anonymous;342230]Thank you!! I will have to go online to check all their statements as I never just wrote them down (See: idiot). All are web based. I will do this by the end of the day.
The C & D letter - once I find the template, how do I get it to the PDLs? Mail or e-mail? I hope I can find addresses.
My former account is not closed, but on a fraud hold. I suspect one of these PDLs got extra greedy by signing me up for a **** site. I called the bank and will not be charged by themfor repeated attempts to withdraw.
I have every intention of repaying all principals and even reasonable interest.
[color=Red]****Adult term removed - Jason[/color][/QUOTE]

What are the rules for Texas residents?