PDL in Ohio
Date: Sun, 12/07/2008 - 08:58
Check-n-Go 800
Express Payday Advance 800
Express Cash Advance 1000
Advance America 500
(Online) ezpaydaycash.com 300
MagnumCash 1200 (made first payment around 500)
I have been reading through blogs and threads here at DCC and am still just so overwhelmed. I don't even know where to start to get this under control. The fees are stopping me from getting some of my bills paid. This just can't happen anymore.
Can someone please advise?
With Check n Go and Advance America you can go in and request an
With Check n Go and Advance America you can go in and request and EPP (Extended Payment Plan). They will break the payments into 4 equal payments over four paydays.
Magnum Cash is illegal. You only owe them back the prinicpal which was the original $1000. I had a loan with them and sent them an email that stated they were illegal and I was only going to pay them the balance. They were not happy about it but they agreed that I only owed them the prinicpal.
I went to my credit union and blocked their ACH transaction before I sent the email. I told the bank that I was dealing with a payday loan that I discovered was illegal and I was trying to work with them but they refused. They did block them for me. You need to speak to the bank manager. Mine was very helpful.
I was actually in the negative and she waived the $30 stop payment fee.
Here is a copy of the letter I sent. Just change it to reflect your own information.
Quote:
Magnum Cash Advance Your Name SS# XXX-XX-XXXX Your City, Ohio After doing research regarding Internet payday loan laws in the State of Ohio, I have found that your Internet payday loans are actually illegal. I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected. I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office. I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Due to the fact that Internet payday loans must be licensed in the state of Ohio to be a legal and binding contract, your company should NOT issue loans to Ohio residents. I am requesting that you send me your license number which enables you to offer loans to Ohio residents. The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments. As of 00/00/2008 the remaining balance of the principal I owe is $XXX.XX which I will pay in full via Money Order once I receive the physical address. I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the Ohio Attorney General's Office. I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted. Sincerely, CC: Better Business Bureau Ohio Attorney General Federal Trade Commission |
I am not sure about the other loans. If you enter the names in the search box on the top right side of this page you can search for information on them that can give you some more help.
Express Payday Advance & Express Cash Advance may also offer an EPP. You will need to call and ask. I am not sure how you got a $1000 from a store front as the max used to be $800 before the new loan laws.
Good Luck and keep us posted.
