Internet Payday Loan Problems

Hello and welcome! :D Your post was not "long winded"! It actually provided all the needed information! You reside in PA. PA law prohibits pdls unless the pdl is licensed SOMEWHERE. If the pdl is not licensed SOMEWHERE, then they are considered illegal. You've paid a boat load of money out, my friend. You've closed your bank account, which is good. I just want to ask if you were assured that your account will not be "forced open" due to pending pdl debits. This has happened many times. That's an ugly situation. Now, let's take a look at your pdls and I'll see which ones I can tell you are not licensed/legal. I'm sure others will be along to help, but for now, let me take a quick look.

Okay, off the top of my head, just by looking, I can tell you that ameriloan, Cash Transfer Centers, One Click Cash, USFastCash, and Paycheck Today are unlicensed/illegal. Now, when you say "AC Big Limited", do you mean BIG LTD? If that is the case, then they too are unlicensed/illegal. CashNetUSA I do believe is licensed, so you would have to abide by the state law that pdl is located in. National Payday - I'm not sure about. Is that the name they use? Or do they have a d/b/a? I'm also unsure of Payday One.

I know you're aware of the wage assignment Cash Transfer Centers is notorious for. As long as you understand that, fine. You've overpaid a number of your loans with unlicensed/illegal companies. Your question is "is there a possibility of using the overpayments to be used on the current debt". I don't like to be the bearer of bad news, but I highly doubt it. These are illegal companies. They're not going to suddenly become "nice" and let you use your overpayments towards current loans. These are the "bad guys" who took you for more money than they should have. Actually the "bad guys" who shouldn't even be lending to you in the first place. So trying to get them to apply overpayments on a current loan is highly unlikely. Now, you can file complaints and send letters demanding a refund. That's always worth a shot. Just remember, any pdl that is not licensed SOMEWHERE is not legal for you. If they are licensed SOMEWHERE, you have to abide by the state pdl law where the pdl is. And also remember the wage assignment Cash Transfer Centers so loves to do. If you have any questions, just post. :D

By Illegal do you mean that it is not a valid debt? Should I let those companies know that they are not licensed and than I will not be making any payments to them? Thanks for all the info as well. I did mean Big LTD. My account has been closed and all debits will be rejected by the bank so I am good on that front. I could really care less if nay of these companies do anything to my credit report as it is already in disarray at the moment and have already accepted the fact that I will be waiting a good 7-10 years before it gets better again.

What would you suggest as the best course of action I should take with each company that I do owe money legitimately? Thanks for all the help. After this ordeal I plan on joining the crusade against all these companies. I have plenty of spare time to write letters and emails until my hands hurt to all regulatory agencies and legislatures.

National Payday was actually the most reasonable loan I have ever had. The first two weeks was interest free and then I paid it down a lot right after that. I actually received a call from Payday One tonight and the person actually left a very pleasant message, much unlike CTC. I am crossing my fingers that they will be easier to deal with.

If the pdl is unlicensed/illegal, then actually you LEGALLY do not have to pay them anything. The majority of people pay the principle amount only since they did receive the funds and did use the funds. It's entirely up to you as to how you want to handle it. And you're saying that it is indeed Big Ltd. - unlicensed/illegal. The ones you want to deal with are the ones that are licensed. With these, PA does allow them. The only bad part is that you have to go by the state law in which the pdl is. It's usually a state with very lax pdl laws. Yuck. As far as your bank, it sounds as though you've gotten that part covered. This is a good thing! Now, when dealing with these unlicensed/illegal ones that you've overpaid, I would certainly send them letters stating this fact. We have a good letter you can send to your pdls to use as a "guideline" (just tailor it to fit your specific pdl and your specific situation). You can send them letters and demand a refund. On the ones you haven't paid the principle amount yet, if you chose to pay the principle, you can send them a letter stating you are only paying the principle amount of the loan. The ones that are licensed/legal, you're going to have to deal with them. PA pdl law won't apply to them. You also will need to file complaints with the agencies regarding these companies. By agencies, I mean the BBB, the FTC, and your state AG. Also, when handling these, the best way to do it is not via telephone. You will want everything in writing. You will want documentation of everything. You can email/fax/mail certified the letters to each company. I can't promise you that they'll abide by your requests, but you will have documentation to back you up for everything. Do you currently have a job? If so, you will need to do a letter revoking any wage assignment to Cash Transfer Centers. They are notorious for sending wage assignments to employers. You need to cover your butt with these guys. Post any questions! :wink:

I do have a job. I will go ahead and send those letters out. I did speak with a friend in Payroll and she told me that they do not touch any ones wages unless it is the gov't requesting it. PA does have very strict laws regarding that. My employer would be more scared that I would sue them if they gave my wages away to someone illegally. I work for the corporate accounting group of a 10 Billion/year company.

Could you send me any templates of the letters that you have? I iwsh that I could get CTC to quit calling my boss once a day, but he knows of the situation and is sympathetic to it. Once I get the letters out to the companies then I will be sending lots more to those agencies. Thanks!

Also, I do not want to renig on money that I spent of theirs. But for the companies that I have already paid much more back on previous loans already I do not see myselef sendind even the prinicple back to them. A good example is ameriloan, even if you addin the $300 that I have not paid anything on, they are still up almost $600 paid above the principles. That definitely does not abide by PA's usury laws. Thanks!

That's okay. Every one makes their own decisions. This one is yours. Nothing wrong with that. I have a letter that you can use as a "guideline" to send to your pdls. You would just need to tailor it to fit your specific pdl and specific situation. Do you know how to use the "pm"? It's private message. Under my post, you will see a little button with 2 people on it that says "pm". Click on that. You can send a message directly to me. Try that, send me a message. Once I get it, I'll reply. Once I know we are able to communicate, I can send you the letter, okay? :wink:

Okay, I got a "quick message" on my home page from you. That's not "pm". Click on the button underneath my post that says "pm". Then send me a message. We'll keep trying until we get it right! :wink:

Cash Net USA and Payday One are licensed. Cash Net USA is lending to PA consumers under it's Nevada license, and Payday One is lending under it's Deleware license, I believe.

Do you still have an outstanding loan with National Payday?

I have paid off the National PayDay Loan. So that would leave me with two legal ones to deal with, so I should probably take care of them first?

Yes I would take care of the legal ones first.

Got your pm and replied to it. Check your messages and reply to my pm. Then we'll know we're ready to go!

If you have any questions regarding the pm, just post or pm me. Either way is fine. :wink:

Yes, absolutly deal with the legal companies first. The illegal ones can wait.

Also, make sure you file complaints against the illegal ones with your state's DFI and AG's office.

I will do that. I began to get the letters in order to send out to the illegal ones. They are startubg to call now, althoug CTC seems to have taken a break the past few days, now it is MTE Financial emailing and calling me.... Thanks everyone for all the help.

Watch CTC. When they're quiet, they tend to do the "wage assignment" game. Quite predictable. Now as for MTE, they will eventually stop calling. They like to use email. Which is wonderful. You'll get everything in writing. Stick to email. And once you file those complaints, MTE will most likely respond. Actually, MIGHT respond is what I should say. I had 3 MTE related pdls. They only responded to one. The other two, they acted as though they never heard of them before. LOL! Get your letters out, don't take any phone calls, work with your legal lenders, and file your complaints. You'll get the ball rolling. Once they start getting on you, come on here and post and we can help you through it! Believe me - been there/done that! :D

I got a collections letter from CashCentral.com? I cannot seem to find any loans that I have taken with them. Does anyone know which loan that I listed above these people are representing? They are a licensed lender from Utah and have posted that on their website, but I do not see any incoming credits or debits for this company on my bank statements. Thanks!

Hmm. This is interesting. No credit or debits from them. I do not see how they are affiliated with any of the pdls you've listed. However, I did find this. Interesting.

Cash Central is licensed in every state that it needs to be when it loans . . . . They are like Cash Net USA, they usually are operating legally.

goudah, our member doesn't recall getting a loan from them. Or has seen any credits or debits on his/her account from them. Do you find this odd?

Very odd, especially since Cash Central is usually on the up and up . . . .

Have you called Cash Central to see what they say? I would start there. They are usually a legit company, so they should have no problems giving you the info.

Maybe I overlooked one. I am going to go through all my bank statements and see what I come up with. I will let you know. Thanks!

Keep us posted on this one njl32! I'm sure it's easy enough to overlook. Believe me! I understand! See what you come up with. And since goudah has told us they are licensed, if you do find them, try to contact them and maybe get it straightened out, okay? :D

Will do.... I am going to print out all of my bank statements from the past year tomorrow at work. MTE financial contacted bot of my references by the way. It is just my Brother and best friend so not a huge deal because they are both aware of my situation anyhow. MTE also already sent a settlement offer to me, but since they are illegal I have already overpaid them on many loans.

MTE contacted your references? Holy crap! :shock: This is the first I've heard of them doing this. I had 3 MTE related pdls and none of them contacted my references. What's up with that? Thank God your references were aware; however, they're really not known to contact references. You must have been the lucky name they drew out of the pot. God love them. :evil:

Cash Central is correct. I found a loan on my bank statement come through. That shows how easy it is to just get too deep in these things and not even know who you money to. Oh well, just another legal one to deal with. They have called once but left a very pleasant message, unlike the lovely people @ CTC:)

Well, at least you found it! And, yes, it does get confusing when you have multiple loans! Lord, I think at one point I should have just hired an accountant to handle all my pdl transactions! LOL! Okay, so you have a legal one to deal with. Good to know before you got in too deep with them! Keep us updated as to how it's going!

Okay, that makes a lot more sense! Cash Central, while legal, can be quite a pain the butt to deal with after a while. They will start calling you every couple hours, like you didn't just talk to them! Just be prepared!

Ya, hopefully they are not too bad. Luckily I have 0 assets and lots of debt. I have been concentrating on finding a place to live this week..... I lost in court today for the eviction so I have 21 days to move out..... I hate payday loan companies and canot wait to launch my attack against them when I have time. I have some promising leads for apartments and have decided to pay my own bills before I pay the vultures. I get at least 30 calls a day from them right now! Thanks for all of the help! I did get my paycheck and no CTC Wage garnishment issues to worry about. They did send one and my payroll office told them NO WAY! I guess that is the advantage of working for a giant company with 200,000 employees. I feel really bad for anyone that has been victimized by them in the past...

nj, I'm so glad to hear your company refused the wage assignment. Thank goodness. And I am also glad to hear you got a friggin paycheck! Now, my heart is breaking because you're being evicted. Are you going to be able to come up with the money to put down for a new apartment? Are you going to be okay? I am so sorry. Please let us know if we can help you.

Thank god for "Craigs List"! The mortgage problem is helping as well. There are a lot of people out there that need to rent rooms now in their houses and condo's! This is what I have found already anyhow.... I really do hate the paydya loan companis and cannot wait to help take them down, I have many friends with the same problems...

njl-Craigs List is great! And you are right, lots of rentals out there with people wanting to get tenants!
Payday loan companies are :twisted:

Exactly, they help you turn a not so good situation into a really BAD situation. I hate when they try to say that they are helping out lower income folks with a solution to their short term cash needs... It is a a bunch of rubbish!

Short term cash=looooong term problems!!

We're you able to find a place on craigs list?

The pdls rely on "low income" people. Hell, that's where they make their money. They know we don't have the money to pay them in full. Good Lord. If we had money, we wouldn't need to borrow it in the first place.

It is looking great.... I have tons of offers and since I do make decent money I should be able to afford to move into one. Everyone should know out there that I am not so low income person income that got taken payday loans. I make $50K/year and still ended up in the cycle. I have thought of making a website that tellls people to not take them... and even advertising for payday loans so when people serch for them my site comes up1

We could all band together with a small ad budget and start such a site warning people of the payday loans...it would be worth it. They are bottom feeding pond scum that take advantage of way too many people!

before i took out my payday loans, i did look at a website that talked about the cons of getting the loans, but i was in such a desperate situation, i thought to myself that with my income i could pay them back with my next check. then the next thing i know they were calling me offering me money and emailing me offering me money and i kept saying yes and as usual i can pay them back the next payweek and the next thing i know, i was was in a jam. but the best part was is that i found this website and i saw that i was not the only person in the same situation.

njl-I couldnt agree with you more..no walks of life are immune to the pdl's! All you need is one major setback and OUCH! Trapped! Heck, when I came here I thought everyone would laugh at me...I work at a bank :oops:

I am sooo glad to hear about your housing prospect!! Most rentals these days are going by income and time on job instead of credit...there is an epidemic of bad credit right now :(

nj, you are right. It's not only "low income" people that get trapped in the cycle of pdls. It's everyone. And I know these people, like you, do not hide the fact that they are not "low income". Everyone can get sucked in. Everyone. I'm so sorry you're caught in it with many, many others. I just stated that plds rely on "low income" people because it has been stated many many times in different areas that the "lower income" people are the ones that can never get out because of the fact that they are "low income". It's vicious. But, like you said, you're not "low income". It's vicious for everyone. I just honestly wish pdls would just be considered illegal period. Storefront/internet/whatever. It's too tempting and too easy to take out a loan and never get out. If they didn't exist, a person might have to bum money from family or friends, but at least they won't have to go through the pdl nightmare. No matter what their income is.

i found out while i was getting the loans that the more money that i told them i made the more they offered me. all of mine were faxless, so i was able to tell them anything. only thing they verified was that i was employed or i did have a bank account in good standing.

I agree cannr. They get people stuck in bad situations and make them worse. It would be nice for more of the "former" employees of these companies to come forward and admit to what they do to people. I have told my friends that I would have rather been hungry for two weeks then take loans from these people. The illegal ones really make me mad.

granny, you are right. You can pretty much put in whatever income you feel like. Amazing, isn't it? Then they offer the $500 rather than the $200! LOL!

nj, you're not the only one who gets ticked off regarding the unlicensed/illegal ones. Everytime I see a post with the illegal ones listed, I just go on a rampage! Burns me up!

In order to verify my employment,you have to call a 1-900 number with a code that I give or log-on to a website with a code I give...I gave no pdl that code so guess nobody ever verified my employment..??!! :shock:

Did you give them a work number? I know mine just called me at work, and that was their verification.

Yea the number directly to my phone, they never called.

I started to get an international telephone number showing up on my caller ID. I know that this is most likely that BIG company. They are crazy if they think that I am going to pay international rates to talk to them. They have withdrawn $855 for a 200 dollar loan so far. They are sadly mistaken if they think that they are getting anymore money from me!

guest, you're correct. The number they are calling from is in the UK. However, if they do leave you a message, they do leave a toll free number to call. Now, I'm praying that these guys no longer have access to your bank account, right? $855. My gosh. Thieves.