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Seven PDLs, closed account - what to do?

Date: Fri, 08/08/2008 - 18:18

Submitted by anonymous
on Fri, 08/08/2008 - 18:18

Posts: 202330 Credits: [Donate]

Total Replies: 179


I hope someone here can help me. I live in NJ and work in PA. My wife had breast cancer and things got tight. I wound up with seven (!) PDLs. After I got the last one, from East Side Lenders, a draft was presented to my bank for about $40, which I hadn't authorized. I called the number on the draft and was told it was for a net **** site (I do not frequent those!). Got the bank involved (NJ) and they put a hold on my account and opened a new one.

What should I do about these loans? I'm afraid to give them my new account number because of the fraud I just had. I would love to pay back the principal, probably have in some of them by now, and be done with them but I wonder what I should do next. I am worried about garnishment. My bank says it will not charge me if they try any withdrawls, but what will they do next? To add to the worry, because of the fraud I have a new account, and because of that I won't have direct deposit next payday, the 15th.

I hope someone here can tell me what to do next! Besides the new ESL loan, I have loans from
USFastCash
Web Payday
Upfront Payday
Cash Direct (GECC)
NetCashUSA
OneClickCash

Yes, I am an idiot. My wife's cancer, coupled with the current economy, have made me lose focus and repeatedly make bad decisions. The recent fraud has left me facing a dilemma - tell all the PDLenders of my new account and continue this horrible spiral, or - what?

Thanks for any help. I was researching this topic on the web and found this site. As I've had to abandon paying my credit cards I suspect I'll need to join soon.

Troubled in New Jersey

PS - My wife is now free of cancer. But not stress...

[color=Red]****Adult term removed - Jason[/color]


I have done everything this forum says to do to get rid of thee crooks. One says since they didn't solicit me, and since they say they that the acct shall be governed and subject to the laws of the state they are in. regardless of what state i am in. I don't understand. is that another scare tactic. I would appreciate any feedback. Thanks Tracey


lrhall41

Submitted by on Wed, 11/11/2009 - 09:43

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Quote:

Originally Posted by Anonymous
I have done everything this forum says to do to get rid of thee crooks. One says since they didn't solicit me, and since they say they that the acct shall be governed and subject to the laws of the state they are in. regardless of what state i am in. I don't understand. is that another scare tactic. I would appreciate any feedback. Thanks Tracey


The state you reside in prevails, Texas requires ALL Internet payday lenders to be licensed by YOUR state, so, since they are NOT (assuming you researched this), THEY are screwed, not you. Just tell them your state law prevails and let them threaten all they want because when it comes right down to it, they wouldn't dare walk into a court of law. You have too much going for you to prove your case, they do not.


lrhall41

Submitted by Shazzers on Wed, 11/11/2009 - 09:46

( Posts: 17344 | Credits: )


Thank you very much. I really appreciate all your help. It has given me a light to what I thought was a hopeless situation. Bank of America was also very helpful to me and have kept my acct closed. Now I am just listening to all the messages these people leave me and their e mails. But this has been extremely helpful and I am very grateful to all of you who help us.


lrhall41

Submitted by on Wed, 11/11/2009 - 10:01

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This is a comapny who says they will help you get out of payday loan nightmare THEY ARE A SCAM I was just scammed 200.00 they charge you fees every month and they never make any of the promises come through. I am still getting calls from the comapnies they said they would help me with.


lrhall41

Submitted by on Mon, 11/16/2009 - 12:23

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Please help,, I plan on going in the bank tommorrow asking for my account to be closed, what is their policy dealing with ach transaction on closed accounts before I close it. I don't know if my job can stop direct depost so soon on my account or not but I will try tommorrow being Monday, and my payday if Friday but my direct deposit hits Thursday but the pdl dont hit until Friday. (Dont know what to do about that) I am going to write my letter but I dont have address. ppl name are Paycheck Today and Great Sky Cash

Paycheck Today 3-26 Loan was for 300 paid 975 account paid off (675 paid over)
Great Sky Cash 300- have not paid anything as yet (Suppose to get 90 this Friday)
Paycheck Today (Yes the same one, Mother died) 300- have not paid anything yet also (Suppose to get it this Friday)
I dont know if these places are legal or not could you help me and also the addresses? Could you let me know if I am on the right track? If not I will be evicted pretty soon because I am going to be bleed dry.


lrhall41

Submitted by on Sun, 04/04/2010 - 13:08

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Quote:

Originally Posted by Anonymous
Please help,, I plan on going in the bank tommorrow asking for my account to be closed, what is their policy dealing with ach transaction on closed accounts before I close it. I don't know if my job can stop direct depost so soon on my account or not but I will try tommorrow being Monday, and my payday if Friday but my direct deposit hits Thursday but the pdl dont hit until Friday. (Dont know what to do about that) I am going to write my letter but I dont have address. ppl name are Paycheck Today and Great Sky Cash
Paycheck Today 3-26 Loan was for 300 paid 975 account paid off (675 paid over)
Great Sky Cash 300- have not paid anything as yet (Suppose to get 90 this Friday)
Paycheck Today (Yes the same one, Mother died) 300- have not paid anything yet also (Suppose to get it this Friday)
I dont know if these places are legal or not could you help me and also the addresses? Could you let me know if I am on the right track? If not I will be evicted pretty soon because I am going to be bleed dry.

What state are you in, I'm pretty sure your lenders are unlicensed. It doesn't matter what they banks policy is, the federal law states:
Regarding the EFTA and Universal Debit Agreements..

?? 907. Preauthorized transfers

(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.


lrhall41

Submitted by Shazzers on Sun, 04/04/2010 - 13:12

( Posts: 17344 | Credits: )


At the moment i have 3 PDL accounts and its killing me i live in NYC and now looking for a 4th to cover the other 3 Bad yes i no but i am a single mother that's trying to keep my apt. I have been reading through all these post and wanted to know after sending these letters out what exactly will it do. will it stop the automatic payments completely and will i still have to pay on the loan?


lrhall41

Submitted by on Sat, 06/19/2010 - 10:23

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Quote:

Originally Posted by Anonymous
At the moment i have 3 PDL accounts and its killing me i live in NYC and now looking for a 4th to cover the other 3 Bad yes i no but i am a single mother that's trying to keep my apt. I have been reading through all these post and wanted to know after sending these letters out what exactly will it do. will it stop the automatic payments completely and will i still have to pay on the loan?

Payday loans are prohibited in N.Y. you need to CLICK HERE to find out how to deal with illegal lenders.


lrhall41

Submitted by Shazzers on Sat, 06/19/2010 - 15:18

( Posts: 17344 | Credits: )


I too have several PDL's out. I live in PA. They were all acquired through the internet, no store fronts. Here is a list of those I got the loans through:CashjarUnited Cash LoansM1Y DirectNationalpayday.com - has an address of San Jose, Costa RicaPayday loansI have paid ALL finance charges so far they told me and NOTHING not even a penny has come off the amount borrowed, I need out of this fast!! Please help!!


lrhall41

Submitted by on Fri, 07/30/2010 - 04:35

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Quote:

Originally Posted by Anonymous
I too have several PDL's out. I live in PA. They were all acquired through the internet, no store fronts. Here is a list of those I got the loans through:CashjarUnited Cash LoansM1Y DirectNationalpayday.com - has an address of San Jose, Costa RicaPayday loansI have paid ALL finance charges so far they told me and NOTHING not even a penny has come off the amount borrowed, I need out of this fast!! Please help!!


well since no pdl is legal in PA everything they call fees goes towards the loan,they are not allowed to charge interest.for example:

cashjar(illegal lender)you borrow 300.00.they debit three times for 90.00.you only legally owe them 30.00.see how it works.all internet lenders are mutated garbage that are no more than cyber loan sharks.try to recall the following.

how much was borrowed from each illegal lender,and how much in illegal fees was debited by each before default.then go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of this forum.it will give you everything you need step by step.we can help with any questions from there.just know the pdl's are illegal,and lie out of their a$$e$.don't believe a word from them from now on.go to the sticky,and we can help from there.


lrhall41

Submitted by paulmergel on Fri, 07/30/2010 - 05:15

( Posts: 15514 | Credits: )


Hello all. It seems like this is the place to go for advice on PDL scams like the one I'm dealing with now. I borrowed $400 from BigSky Cash (internet PDL) apparently governed by a cheyenne sioux "nation". I have put locked them out of my bank account after contacting my bank who have refunded over $700 in over charges beyond the $550 already paid. I now have a collections letter in the amount of $600!! I refuse to let them scam/scare me outta one more penny. Please help! Is this company's policy legal in CA??? Or are they allowed to do PDLs? Also if anyone can get direct contact info on BigSky Cash that'd help too :) email help ok @ [EMAIL="russell.mj@hotmail.com"]russell.mj@hotmail.com[/EMAIL]


lrhall41

Submitted by on Tue, 08/24/2010 - 11:26

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Quote:

Originally Posted by paulmergel
well since no pdl is legal in PA everything they call fees goes towards the loan,they are not allowed to charge interest.for example:

cashjar(illegal lender)you borrow 300.00.they debit three times for 90.00.you only legally owe them 30.00.see how it works.all internet lenders are mutated garbage that are no more than cyber loan sharks.try to recall the following.

how much was borrowed from each illegal lender,and how much in illegal fees was debited by each before default.then go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of this forum.it will give you everything you need step by step.we can help with any questions from there.just know the pdl's are illegal,and lie out of their a$$e$.don't believe a word from them from now on.go to the sticky,and we can help from there.



is that true, are they really all illegal in PA?


lrhall41

Submitted by Scared N Drowning on Tue, 09/21/2010 - 14:13

( Posts: 29 | Credits: )


In regards to the templates provided, with me being from Tennessee and the laws below, how would I go about adding this to my letter? I have spoken to the TDFI and they stated that they are not licensed in our state and they are just now starting to get calls about these companies. They are trying to get addresses so they can confront them and let them know if they don't want to follow our laws they need to stop lending to Tennessee residents.


Tennessee State Information

Legal Status: Legal

Citation: Tenn. Code Ann. ????45-17-101 et seq.

Loan Terms: Maximum Loan Amount: $500 Loan Term: Max: 31 days Maximum Finance Rate and Fees: the lesser of 15% of the check or $30 Finance Charge for 14-day $100 loan: $17.65 apr for 14-day $100 loan: 459%

Debt Limits: Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee) Rollovers Permitted: None (cannot renew or otherwise consolidate) Cooling-off Period: Repayment Plan:

Collection Limits: Collection Fees: One $30 NSF Fee; Court Costs Criminal Action: Prohibited

Where to Complain, Get Information: Regulator: Tennessee Department of Financial Institutions Address: 511 Union Street, Suite 400 Nashville TN 37219 Phone: (615) 741-2236 Fax: (615) 532-1018 Regulatory Contact: Bart Daughdrill,


lrhall41

Submitted by chriserika94 on Fri, 10/14/2011 - 08:45

( Posts: 4 | Credits: )


I wonder if that is the same company as "UnitedCashLoans"? I noticed the street address is the same. Also, the other trap I'm in is "500FastCash," also in the same city.

Could they have split off into two different entities?

Just a thought!
Jack


lrhall41

Submitted by jack.gold on Tue, 04/24/2012 - 12:49

( Posts: 8 | Credits: )