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I need HELP ASAP

Date: Tue, 12/30/2008 - 09:25
Submitted by on Tue, 12/30/2008 - 09:25
Posts: 202330
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I live in Connecticut and fell into the payday loan trap! Once the finance charges for my loans go through tomorrow my entire paycheck will be gone. I currently have 11 loans out and can not pay any of them off. There are 2 loans that I have paid the finance charge for over a year now and another loan that I have been paying on since February 2008. I need to know how to get out of this trap, I am a single parent and can not afford anything right now!!


In Connecticut internet payday lenders are not legal, either because of restrictive laws, or because the state does not license companies not located in that state, but requires a state issued license to lend.

First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it!

Connecticut State Information here
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


Submitted by Shazzers on Tue, 12/30/2008 - 09:40

Shazzers

( Posts: 17344 | Credits: )


Hi Kellc,

I live in CT too and went through payday heck as well, I had 14 at one point. They can and will go away with a little patience and perserverence. The people on this website are wonderful and there is a lot of good information available.

Here is a copy of the letter I used for my illegal pdl's. Once you provide the info that Shazzer's asked for, you can tailor it for your needs:

Sample Revocation letter here
http://www.debtconsolidationcare.com/forums/revocation-letter.html


Submitted by dawnlango7 on Tue, 12/30/2008 - 10:48

dawnlango7

( Posts: 1147 | Credits: )


This is Kellc872, I had some problems logging in so I had to create another user name.

All of my loans were from the internet. There are a few loans that I have not made any payments on so I would like to be able to pay them off once I get the rest of my loans taken care of.

JD Marketing, loan amount $250.00, paid $2,235.00 in fees to date.

CR Interweb Marketing, loan amount $300.00, paid $2,100.oo in fees to date.

Worldwidecashnow, loan amount $200.00, paid $1,780.00 in fees to date.

Cityview Cash, loan amount $300.00, paid $450.00 in fees and $50.00 towards principal.

Loanshop Online, I have 2 loans with them, 1st loan $300.00, amount paid towards that loan $900.00 in fees. 2nd loan $200.00, nothing paid to date.

Avantis Financial, loan amount $300.00, paid $442.00 to date in fees and principal. This loan will be taking $159.74 tomorrow to pay the loan in full.

E-Payday-Loan, loan amount $300.00, paid $450.00 in fees to date.

Payday-Loan-Yes, loan amount $300.00 paid $270.00 in fees to date.

Fastcash-Advance, loan amount $350.00, no payments at this time.

One-Click Cash, loan amount $300.00, no payments at this time.

Please let me know how to deal with these companies.

Thank you.


Submitted by kellie.conway on Tue, 12/30/2008 - 12:32

kellie.conway

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Hi Kelly,

The good new's is that they are all illegal, if you have overpaid they owe you a refund, if you haven't you owe them the balance of the loan only. Here is some additional info, I will look at the companies for you:
Quote:


What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter.


Submitted by dawnlango7 on Tue, 12/30/2008 - 13:41

dawnlango7

( Posts: 1147 | Credits: )


OK, here is a breakdown of your companies, are the first 2 installment loans, if so then they aren't illegal. There are a few hefty refunds that are owed to you.

JD Marketing - they owe you $1985
CR interwed - they owe you $1800
WWC - they owe you $1580
Citiview - they owe you $200
Loanshop - #1 they owe you $600
#2 you owe them $200
Avantis - they owe you $301.74 (includes tomorrow's payment)
Epayday - they owe you $150
Paydayloanyes - You owe them $30
Fastcash - you owe them $350
Oneclickcash - you owe them $350

Now that you have the figures you need to close you account first, otherwise they will continue to debit your account. Once that is taken care of you can type up the letter above and send it to the companies. most of them owe you a refund. I would also report them to the BBB, FTC & the CT Attorney general, they were helpful in dealing with one of my loan's.

I know this is a lot of info to throw at you so if you are confused or need any more help, please let us know :D


Submitted by dawnlango7 on Tue, 12/30/2008 - 13:49

dawnlango7

( Posts: 1147 | Credits: )


im in trouble with several companies and now thy are threating to garnish my wages please help me


Submitted by on Wed, 01/21/2009 - 18:34

( Posts: 202330 | Credits: )


since they are prohibited in CT.no court will grant a garnishment.i suggest getting a WAGE ASSIGNMENT REVOCATION letter to your HR or payroll person.once that is done they can't do anything.


Submitted by paulmergel on Wed, 01/21/2009 - 18:37

paulmergel

( Posts: 15514 | Credits: )


how to stop the phonecall


Submitted by on Wed, 01/21/2009 - 18:55

( Posts: 202330 | Credits: )


You do not need a lawyer. You need to send them the illegal template letter stating they are illegal and to only contact you via email or USPS.

What are the names of the companies? Are you also in CT? How much was the loan for and how much have you paid on each loan? Are they internet loans?


Submitted by nohiogal on Thu, 01/22/2009 - 03:05

nohiogal

( Posts: 2582 | Credits: )


please i need adivse i have received a threatening phone call that i will get arrested if i dont pay attorneys fees my original loan was of 300 i only owe them 100 could not pay because of other loans now an attorneys office is calling me saying that i have to show up in court


Submitted by on Thu, 04/23/2009 - 11:54

( Posts: 202330 | Credits: )


Hello I have a Cash Call loan that I want to get rid of. I am current on my payments but would like to pay if off principle and interest fairly. I've had it since last August and only have paid like 20.00 in principal. Please let me know if you could help me in CT.


Submitted by on Tue, 04/28/2009 - 08:55

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FYI - on their website they are no longer lending in CT.


Submitted by on Tue, 04/28/2009 - 08:56

( Posts: 202330 | Credits: )


They are a legal loan, not a pay day loan. They may make fair arrangements with you, but it is not likely.You will need o call them and speak to someone directly. They are horrible and I am sorry you got involved with them.
Good luck and let us know how you did


Submitted by on Tue, 04/28/2009 - 08:59

( Posts: 202330 | Credits: )


I closed my bank account and sent the letters to my lenders in March. I just received a voicemail from FastCash stating that if I didn't return the call by noon today I will be charged with bouncing a check across state lines and would end up paying close to $1000 at that time. With the deductions that were being taken from my account I paid back what I borrowed plus interest. Can they charge me with something like that?


Submitted by on Mon, 05/04/2009 - 06:58

( Posts: 202330 | Credits: )


I received the following email from Payday Loan Yes today. It is in response to the letters I sent them and fast cash advance. I took out a loan with both of them and actually overpaid them both. Please let me know what else I can do.

Here is the letter:

Kellie Conway:

We are licensed through federal the federal government. Federal law takes
over your state laws. If we were not allowed to give out at loan to the
state of CT we would not. We are experiencing problems with your checking
account. We only accept electronic payments. I am in the position to offer
you a loan payoff. Today your loan is 28 days past due. When accepting a
settlement you cannot skip pay dates. Payments must be received on your pay
schedule.

As of today your total account balance is $435, loan payoff is for $400,
payment arrangements are for two (2) payments $200 due on 05-15-09, and
05-29-09. Payment method is Visa or MasterCard debit/credit only. See your
payment instructions listed below.

Payment Instructions

To confirm this loan payoff you will need to provide your Visa or MasterCard
debit or credit today, see payment form listed below.

Since payment is a time sensitive matter, your prompt payment confirmation
remittance will avoid further collection actions

This is a loan payoff, meaning once you confirm this payoff by providing
your card information, your account will then be removed from the
collections process, your balance will be frozen and no further charges will
be assessed on the loan balance as long as you follow through with the
agreed arrangement.

Regards,
Jodie Phoenix
Advanced Collections Department


Submitted by on Tue, 05/12/2009 - 07:20

( Posts: 202330 | Credits: )


Quote:

Originally Posted by Anonymous
How can I get rid of Cash Call. According to their website they no longer give loans in CT and I have one since last August. Does anyone know the law for them here in CT?


Cash Call isn't a payday lender, they are an installment lender, therefore the payday loan laws would not apply to them. They charge outrageous interest rates and aren't very easy to work with. My advice is for you to try and get it paid off as soon as possible.


Submitted by Shazzers on Tue, 09/29/2009 - 16:38

Shazzers

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