Payday loan help
Date: Fri, 12/12/2008 - 07:50
Hi ncooper, I looked up both companies in the database for AL
Hi ncooper,
I looked up both companies in the database for AL, neither of them are licensed. Here are the law's for AL:
Quote:
Quote: Alabama State Information Legal Status: Legal Citation: Ala. Code ???? 5-18A-1 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: 10-31 days Maximum Finance Rate and Fees: 17.50%; 3%/month after default Finance Charge for 14-day $100 loan: $17.50 apr for 14-day $100 loan: 456.25% Debt Limits: Maximum Number of Outstanding Loans at One Time: None (max $ amount of loans at one time: $500) Rollovers Permitted: One (rollover) Cooling-off Period: Next business day after 2 continuous loans repaid Repayment Plan: Yes Collection Limits: Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check Criminal Action: Prohibited (Unless check returned due to closed account) Where to Complain, Get Information: Regulator: Alabama Banking Department Address: P.O. Box 4600 Montgomery AL 36103 Phone: (334) 242-3452 Fax: (334) 353-5961 Regulatory Contact: Arlene Baldwin, , Consumer Services Specia list, Bureau of Loans http://www.bank.state.al.us/ |
If you can tell us how much you borrowed and how much you paid b
If you can tell us how much you borrowed and how much you paid back including fee's, we can give a little more advise. In the meantime here is some info 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. |
I have only paid interest, not principal. Each loan was for $30
I have only paid interest, not principal. Each loan was for $300.00. The Loan Shop has deducted $540.00 ($180 per month) and Loan Point USA (GRH) $360.00 ( $180.00 per month).
I can't close my bank account. I bank at the credit union where I work. I have all funds direct deposited. I have started withdrawing my funds as soon as they are deposited, but it is costing me in NSF fees because they keep trying to debit my account. They are also calling me at work and home. I have not spoken to them, I let it go to voicemail. This morning one of them called and left me a message at work stating I needed to contact them within the hour.
I just want this to stop and be back in control of my money.
I am in that same situation right now, and i have just decided t
I am in that same situation right now, and i have just decided to go with T & C Acceptance, so they can deal with the PDL i was very indecissive about it becaus there are several co's that will help. I have just decided to stop paying them i am tired of being broke and they haven't start calling yet but i'm sure they will but i am going to let them deal with it until it get paid off
Who is T & C Acceptance? How do you get in touch with them? I
Who is T & C Acceptance? How do you get in touch with them? I don't know what to do about this anymore.
I know i feel the same way but I have been talking with them yes
I know i feel the same way but I have been talking with them yesterday & today and they seem very nice and helpful. They are a debt mgmt co. that help with PDL's storefront & internet. Their # is 205.823.4930 they are registered with the BBB since 1981 & they have been dealing with PDL's for the last 5 or 6 yrs. I am signing up with them Monday to get out of this mess
i believe t & c also requires you to secure your account. you c
i believe t & c also requires you to secure your account. you can always put a debit only block on it.
I agree with bea2ls, you need to do something to your account to
I agree with bea2ls, you need to do something to your account to prevent them from getting your money or overdrawing it. Can you speak with the manager and see if there is anything they can do to help you?
Yes, i agree you have to do something with your account first, i
Yes, i agree you have to do something with your account first, i put a hard freeze/hold on my where you can only deposit, no ach, no checks, even no debit card for right now. I am going to leave it like that until i get all of these accounts paid to what they will settle for.
So if I put a hard freeze/hold on my account to only do deposits
So if I put a hard freeze/hold on my account to only do deposits, hen I can just withdrawl cash I need and not have to worry about them trying to take money? I'll have to talk to the bank on Monday.
payday loan mess
Thank you all for the info. I don't know how all the laws for internet for pdl's but i have put myself in a bad situation. Last month the loan shoppe added another loan that I didn't know about initially but I had spent the money already. They told me that the rep accidently had my info up as they spioke with someone else and I received the funds. I probably have 4 online loans and the bank won't let me puta block or hold because i am overdrawn. My little direct deposit just gets eaten up with the nsf funds. I really don;t want them to garnish my wages. any help would be greatly appreciated :?:
payday loan locator
I also review my bank statement to see if I can find the names of the companies, My bank tells me nothing except that it is ach and they don't have any phone numbers or addresses. It's my fault for not keeping up with the names and not being organized. My email is full of "you're approved for a second loan. It's a sad situation to borrow from one to pay for another.What kind of fees are charged to consolodate them. That's a shame I crying for help and don;t have the money to pay for the help So needless to say I don;t have money to pay the court costs if or should I say when the pdl's take me to court. Is anyone else afraid of the court situation?
I am signing up with T & C and they charge $195 to start and the
I am signing up with T & C and they charge $195 to start and then you monthly payment will be minumum & they will contact the lenders to deal with them. I really don't want to deal with the lenders myself that is why i am going through them. They will settle the account and pay them something every month. Can you just close your account and have your employer cut off your direct deposit, that is what i did.
Geneva Roth
Hi I'm here to question Geneva Roth they were taking more than enough out of the initial balance of my old account. I ended up closing the account because they took more but it kept bouncing back open because of the electronic debit. Now i am with another bank. I applied for another loan with another company and they took out money on my new account with a totally different bank what can I do?
Close the account. That is really all you can do. PDLs share inf
Close the account. That is really all you can do. PDLs share information so they must have gotten the new information from you new loan.
Your new loan was most likely an affiliate of Geneva Roth. Thes
Your new loan was most likely an affiliate of Geneva Roth. These companies have so many different dba's. its crazy. Do as nohiogal says and close your account.
Illegal? Check your books again. Creditors having no place of
Illegal? Check your books again.
Creditors having no place of business in Alabama but having a resident employee in Alabama shall obtain a license for the location where the creditor maintains its records regarding Alabama loans or consumer credit contracts. Out-of-state consumer lenders with no resident employee in Alabama, banks and life insurance companies are exempt from licensing; however, they must still follow all other requirements of the Alabama Consumer Credit Act regarding their consumer loans in Alabama.
From: bank.state.al.us
I think it's stupid this forum bans links, I'm trying to post to
I think it's stupid this forum bans links, I'm trying to post to a government site, yet I'm prevented from doing so. The Alabama state regulation committees DO NOT REQUIRE A LICENSE FOR BUSINESS IN OPERATION. Geneva Roth Ventures is licensed where they keep records. Loan Shop Online is registered under Westbury ventures in delaware. Please do your research before blinding claiming something is illegal
George, you have to be a registered user in order to post links.
George, you have to be a registered user in order to post links.
Quote:Please do your research before blinding claiming something
Quote:
Please do your research before blinding claiming something is illegal |
That sounds familiar.
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the troll will never register beli.i have been on other threads that say ipdl's for the most part are illegal if not licensed in or with that state.until a registered member says your right your wrong georgie porgie.you have acheived troll status in my eyes.i'll be watching you.
Darn & I was getting ready to argue...now it would be a waste of
Darn & I was getting ready to argue...now it would be a waste of time...
I'm a troll because I'm pointing out that dawnlango7 is not a la
I'm a troll because I'm pointing out that dawnlango7 is not a lawyer, and should not be declaring things which are LEGAL as ILLEGAL?
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you come up with proof she's wrong.she cited the pdl laws pretty clearly.don't see the same from you.
I don't know Alabama laws, but based on my experience in the 10+
I don't know Alabama laws, but based on my experience in the 10+ states that I have operated stores in, there is a licensing requirement for payday loans stores. I would have to assume that they would be the same. It seems that our "friend" wants to impart a piece of the requirement on the entire industry.
BTW, thanks for locking that thread paul. I meant to post the request for it, but got sidetracked today. Is it possible to just delete the entire thread and all of our "friends" wonderful words of wisdom?
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well it seems he might be the spam-bot.i need to keep that for now.i had to lock it as it was becoming a flame thread.
T & C Consolidation
re: kdeverson 15 dec - T & C
"I am signing up with T & C and they charge $195 to start and then you monthly payment will be minumum & they will contact the lenders to deal with them......"
Just be carefull. I tried PDL Assistance and it sounded good, but they wanted 200 up front plus monthly fees and then dont even contact PDL companies for 6 months until you have at leaset 1/2 of what you owe in an account set up for you.
