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Payday Loan Help California

Date: Thu, 08/11/2011 - 20:28

Submitted by nicolemlnsn
on Thu, 08/11/2011 - 20:28

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Total Replies: 4


Hello,

I am in need of some help. I have 3 payday loans out non-internet.

One of the loans is thru US BANK it is a checking acct. advance.[URL="http://www.debtconsolidationcare.com/forums/editpost.php?do=editpost&p=886381"][/URL]
The second one is with Allied cash advance.
The third one is with California check cashing store.

I want to stop my paycheck from being direct deposited in my back acct.
I know that my bank will not close my acct. because I own them. I am sick and tired of being in payday loan cycle. I need some advice.

Thanks,
nicolemlnsn

addendum I have spoke with the two payday advance places and they told me exactly what to expect. one told me i have 90 days to pay before it goes to collections the other one told me that they will hold the check for two weeks then try to deposit it. for the two people that answered my question you information is redundant and if you are going to answer someone's thread please make sure you read the whole thing including the title.


What state are you in? Are these loans legal in your state? You can close down the account mate. You can open a new account where your paycheck can be directly deposited.

If the loans are legal, you'll be liable to pay the principal amount along with interests and fees. You can approach a debt relief company to get some help.


lrhall41

Submitted by nandydiana on Fri, 08/12/2011 - 02:01

( Posts: 114 | Credits: )


Yeah Nandy is right. California Department of Corporations can give you the information whether or not pdl companies are licensed in your state. You are required to pay only the principal amount if the lenders are not licensed in your state. You can ask them for the refund, if you have paid them more than the amount borrowed. You can go for payday loan debt consolidation, if the lenders are licensed in your state.


lrhall41

Submitted by sandra.nelson15 on Fri, 08/12/2011 - 04:05

( Posts: 129 | Credits: )


First off, you can stop your direct deposit, since YOU determine where it goes, with the help of your employer. Simply go to your HR Dept and ask for forms to stop and/or change it. But do it soon, because depending on when your next paydate is, it might or might not be too late to stop it.
The first loan sounds like a direct deposit advance, thru US Bank, not a PDL. What is probably going to happen is that after a certain amount of time (normally 30 business days), once they see that no direct deposit has been made, they will go in and try and debit your account for the whole thing. You are going to have to speak with them directly and try and work something out.
California Check Cashing is a storefront PDL and arrangements need to be worked out with them. Call your branch first and see if your check is still there. If not, you will have to call Collections in Oakland and speak with them. Keep us posted.


lrhall41

Submitted by kscornell on Sun, 08/14/2011 - 12:33

( Posts: 4407 | Credits: )