pay day loan help

D.C. State Information here

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

kate, many of your pdls are not even licensed/legal. Are the amounts posted what you have borrowed and what you have paid total to date on each?

yes that correct

Cannr how many of them are MTE related? I figured MTE and I know United Cash is as well.

Kate, we can certainly help. It looks like you still owe on all of them. But it isn't as bad as it seems, because they are illegal we encourage you to pay back only the principal. It will be rough going, I'm still trudging through myself, but we can help. Cannr will be posting more soon (if not already)....

only 1 is mte

MTE is a larger company that has funded many different payday loan 'lenders', United Cash Loans is part of the MTE larger group and Cannr has had a lot of experience with them. They are not fun. I have United Cash Loans too, they haven't started with me yet because currently another dba (doing business as) of MTE which is ameriloan has been harassing me despite my letters and emails sent.

So here is a quick list of what you'll be going through soon. You'll need to close your bank account that all these PDLs are drawing from, which there is a thread you'll want to read about that, once I find it I will post the link. You'll be writing letters, I have sample ones on my blog which will apply to you as you still owe on all of yours as I did mine, and you'll be wanting to send them certified. Then you will go and file lots of complaints. Then it is a waiting game of when they'll contact you, if they agree to your demands, etc.... etc... Just keep posting and stick with it....

Yes here it is read before closing your account

Okay I noticed you've got more than one thread open, so I'm going to consider this one the official one, and try to keep it all here since it has more information about your PDLs....

I agree - This should be the main thread. Although, of course, you are welcome to start a new thread for any other questions. But for as far as the main bulk of dealing with the payday loans, let's keep it all here so that the info is easier for you to find. :D

What should the letter say that i send them

what should I say in the letters also would bank of america just close my account

You should just speak with Bank of America. Tell them your situation. Bring in copies of the letter you've sent to the PDLs, revoking your authorization for them to debit your account. I've heard Bank of America can be difficult at times, but stay firm. Always speak with a manager or someone higher up, and keep trying until you can get someone willing to help. They can put holds on accounts so nothing will can leave your account unless you are there in person taking it out. And make sure that once an account is closed nothing can reopen it. There is where BoA tends to fall down I think, so check and double check before closing the account. Either way find a new bank get a new account and don't give that account number to anyone....

You can find a sample letter on my blog (see below advice from an albatross), or you can search in the box at the top of the forum pages for sample letters or you can click on the tab at the top of the pages called "do it yourself". There are many resources on here, and they are pretty easy to search for.

USFastCash, United Cash Loans, and MTE Financial are all one in the same. They are all MTE Financial. They are all unlicensed/illegal. The Loan Shop will be unlicensed/illegal. BIG is EXTREMELY illegal. I don't know who "OSL" or "FTR" are. Do they use other names? Are these just initials of the pdls? Also, 3DPayDay and PayDay2Go? I haven't heard of them either. Please let us know if "OSL" and "FTR" stand for a full name. Here is what I have come up with figuring that these will not be licensed/legal companies. We already know that 5 of them are not.

Loan Shop borrowed 300/paid 250/owe 50
USFastCash borrowed 300/paid 270/owe 30
OSL borrowed 260/paid 180/owe 80
FTR borrowed 195/paid 135/owe 60
PayDay2Go borrowed 260/paid 140/owe 120
BIG borrowed 260/paid 80/owe 180
United Cash Loans borrowed 300/paid 100/owe 200
3DPayDay borrowed 520/paid 120/owe 400
MTE borrowed 300/paid 150/owe 150
You need to close your bank account so these illegal companies can no longer debit your account. I see poko has been helping you regarding this. Go to your bank ASAP and get this account closed. If they can not close it for whatever reason, get a hard debit block up on it so that the pdl debits do not go through and you do not get NSF fees added to your account. Open a different account at a different bank. If you have direct deposit, have it stopped immediately and either get a paper check for awhile or have it routed to the new account ASAP.

Listen to Cannr!

Mostly likely all of them are illegal, since all of them are off the internet. It is also entirely possible that some of the ones we don't recognize are merely new names for old evils. You can always search on here to get more info on each one, including addresses of them to send letters... And if you can't find it here then if you remember the website you got them from, that might help.

So here is your to do list.

1. Close Bank accout (or at least get it held/blocked); and subsequently open a new account at a different bank.
2. Get more info on these companies including addresses.
3. Send letters.
4. File complaints (Click link up in the DC State info, as well as with BBB and FTC).

Got it? Good, lets get that info on those goons, and if you have any more questions just ask.

LOVE the "to do list", poko! :D kate, if you need help with the letters, filing complaints, etc., just let us know. We can help you. First thing is to get your bank account taken care of so you have control over your money again. :wink:

Thanks, I thought I'd simplify things because I've noticed that sometimes when I read posts I miss stuff in those long paragraphs.... And since I have the tendency to write those long paragraphs as well... I think I might keep it and use it again... Very useful... Feel free to use it as well Cannr, since you are on the ball and tend to get to people first....

Thanks, poko! :D

Kate - I know you PM'd me an updated list but if you could put that up on here as well that'd be great.

I'm not sure where you are in the process, so let us know what you have done so far, and if you have any more questions update that here as well!

kate

I'm bumping your original thread, so you can find it, and ask your other questions here! Trust me, so much easier for you as well to keep it all in one place, easier to find then looking at a dozen differnt threads