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I live in CT and here's what I have (all internet):

Sagamore Inc: Original Loan $250; pd so far: $300

United Cash Loans: Original Loan: $300; pd so far: $180

Ameriloan: original loan: $300; pd so far: $180

Impact Cash: original loan: $200; pd so far: $60

Premier: orignial loan: $300; pd so far: $180


I know that all of my loans are fairly new, but I want to know what I can do before this goes to far. I already feel as though I am in over my head and I don't know what to do. Any insight would be much appreciated.

Thank you!
Sara




then what should I do about the companies themselves? If they are illegal companies, is this still going to negatively effect my credit? Will they just be oustanding forever? Is there anything I can do to clear this situation? Sorry for all of the questions, I feel like I am buried in this black hole of pdls that i am never going to get out of! ugh.

Sub: #11 posted on Mon, 10/29/2007 - 12:20

sara250183 sara250183

(Posts: 21 | Credits: )

Sara, I would also just to be on the safe side send these companies a short letter revoking any wage assignments you may have signed. I am not sure if any of your companies use a wage assignment, but it better to err on the safe side. I sent one to every one of my PDLs,
All you need to say is I(name) hereby revoke any wage assignments that I may have signed for you or any of your affiliates.
Wage assignments are strictly voluntary and can be revoked at any time. I am so paranoid I sent everyone evrything.

Sub: #12 posted on Mon, 10/29/2007 - 12:21

kashzan kashzan

(Posts: 5401 | Credits: )

Okay, so the following was in my "loan documents" with AmeriLoan which were electronically signed... any one have any idea what exactly this is stating and what it should mean to me?


Quote:
Governing Law: By obtaining this loan and or renewal of this loan thereafter, both parties agree that this Note and your account shall be governed by all applicable federal laws and all laws of the jurisdiction in which the Lender is located, regardless of which state you may reside, and you consent to the exclusive exercise of regulatory and adjudicatory authority by the jurisdiction in which the Lender is located over all matters related to this Note and your account, forsaking any other jurisdiction which either party may claim by virtue of residency.


Thanks!!
Sara

Sub: #13 posted on Mon, 10/29/2007 - 12:43

sara250183 sara250183

(Posts: 21 | Credits: )

Sara its gibberish to try and make this thing sound legal.They all have some such thing in the contract. I suppose they are trying to say it does not matter if loans are not legal where you are, they want you to believe that you have to go by their laws , what ever their laws are. Gibberish!

Sub: #14 posted on Mon, 10/29/2007 - 12:46

kashzan kashzan

(Posts: 5401 | Credits: )

then what should I do about the companies themselves? If they are illegal companies, is this still going to negatively effect my credit? Will they just be oustanding forever? Is there anything I can do to clear this situation? Sorry for all of the questions, I feel like I am buried in this black hole of pdls that i am never going to get out of! ugh.

Sub: #15 posted on Mon, 10/29/2007 - 13:11

sara250183 sara250183

(Posts: 21 | Credits: )

sarah, get your bank account straightened out first. Go to the bank, speak only with the branch manager. I understand you are in the negative now, so they won't close it. Stress to them illegal companies, unauthorized transactions, fraudulent activity. They need to put a hard debit block/hard hold on this account so that the pdl debits can not hit it again and cause more NSF fees for you. Get this taken care of first. When your money is "safe" from the pdls and your bank account is "safe" from more charges being added on, we are going to send out a few letters to these illegal companies, okay? But the first step is to take care of your bank situation. Do not let the plds hit again. Whatever it takes, get that branch manager to block that account. Stress the urgency. Do not say "paydayloans". That causes problems sometimes. Just say unauthorized, illegal, fraudulent. Okay? Because it is true. These are illegal companies and the transactions are illegal in your state. Okay? Take care of the bank. We will then move forward from there. Do not worry about what the loan documents state. You abide by your state laws. They all say the same crazy thing. Good Lord. And your state prohibits pdls. So they should not be lending to residents in your state to begin with. Do not worry. We will get you through this. Take care of the bank first. Then we're going to do some letters and file some complaints. It'll be okay.

Sub: #16 posted on Mon, 10/29/2007 - 13:14

cannr cannr

(Posts: 9317 | Credits: )

Listen to Cannr - The bank needs to be the first step. Then you will have some breathing room. You will be able to control your finances again, and make the decisions about where the money goes. That will help things immensely.

Once that is dealt with, you can deal with the companies. But first you must protect yourself and your money.

Sub: #17 posted on Mon, 10/29/2007 - 13:20

goudah2424 goudah2424

(Posts: 7936 | Credits: )

I understand that, thanks again. I have already stopped my direct deposit as well. I will not be able to go to the bank until tomorrow, but I will do that then. I was just curious as to what the next steps would be.

Sub: #18 posted on Mon, 10/29/2007 - 13:27

sara250183 sara250183

(Posts: 21 | Credits: )

sarah, the next steps are going to be that we are going to send these pdls letters, which we will help you with, and also filing complaints with the government agencies, okay? It'll all be okay. We'll do it together. Just go to the bank tomorrow and cover yourself so that you don't owe the bank money. That would suck.

Sub: #19 posted on Mon, 10/29/2007 - 13:29

cannr cannr

(Posts: 9317 | Credits: )

I get all of that and I am going down to the bank tomorrow to take care of my account. Like I said, I already cancelled my direct deposit as well. I wasn't asking again what was next, I was simply trying to convey what my intentions of the previous message were, and that was to find out what was next. Now that you have already told me, that was all I needed to know.

Thank you.

Sub: #20 posted on Mon, 10/29/2007 - 13:46

sara250183 sara250183

(Posts: 21 | Credits: )

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