California Payday loan trouble
Date: Thu, 03/12/2009 - 14:45
I am in the process of getting out from under a payday loan fiasco...LOL I have read many of the posts and I am trying to go about this in the correct way. I have 5 PDL's that I am unable to pay for. I have contacted my bank and put a stop payment on any and all amounts from these agencies. I've also faxed/emailed letters to the 5 companies revoking my authorization to withdraw from my account. My next step is to make arrangements with these companies. How do I find out if they are even legal and what is fair? The names of the PDL companies are:
Integrity Advance
JVC Funding
Galaxy Marketing
One Step Cash
ACC - American Consumer Credit
Any advice would be greatly appreciated....:o)
Are these payday loans from the internet or actual stores? My g
Are these payday loans from the internet or actual stores? My guess is that Integrity Advance is illegal and One step cash is probably not legal--but don't take anybody's word for it--Call the California dept. of Finance and ask to speak to the dept. of licenses. They can look these companies up and tell you for sure if any of these companies have a license to do business in your state. I'm not sure about that "stop payment" plan with you bank. Isn't the bank gonna charge you for all the stop payments? I would just go ahead and shut the bank account down. Believe me, from my experience, those pdl places absolutely ignore the letters revoking authorization. They will probably debit your account. They will also ignore the part in the letter that says don't call. They will call. But you don't have to listen to them..I just tell tell very nicely that they need to put it all in writing and then I hang up.
LizzzGizzz gave good advice on your bank account. The first ste
LizzzGizzz gave good advice on your bank account. The first step in this whole process is securing your bank account. These PDL companies have the ability to debit under all different dba's. Many of these companies are related and they will just use another dba to debit your bank account.
Check this link for your state laws.
http://www.debtconsolidationcare.com/paydayloan/internet-lending-in-50states.html
Calling your Department of Financial Institutions is also good advice. Dont forget to file complaints against your illegal lenders with your AG, FTC and BBB.
