Payday loan help

Oh, also this was an internet loan.

You will find the Payday loan laws for Maine here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

OMG you poor thing. By anyones calculations paying $2040.00 for a 400.00 loan is just crazy.
You have so over paid this loan it is ridiculious, I beleive that payday on line is not a legal company. Please someone jump in here if I am wrong. I would tell them flat out that you have paid 2040.00 for your 400.00 loan, and that these companies are not legal in your state. You have paid back what you needed to pay and want your records marked PIf and a refund. Report this co. to the BBB as well as your states AG

Wow Kashzan...I'm not sure about the legality, probably not legal. I found an interesting website that made me sick...sometimes those online payday sites can charge us about 650 percent of the principal! i can't imagine that's legal. here's the site http://usgovinfo.about.com/od/consumerawareness/a/paydayloans.htm

and mb, i think you definitely overpaid that loan. i included that site just to give us all an idea of how much of those places are sharks!

Have you searched on here for A.R.M.?

I know others have dealt with them. I do believe they are not legal, so you need to get to writing a letter letting them know that you know the aren't and because of it you are certainly considered Paid In Full, and they owe you a refund. Then get to writing complaints to help get your money back....

ARM is a collection agency!! Slap them with a debt validation letter asap!!

I haven't searched for them. I will though. Thanks for the info. These people are truly unbelievable.

Where can I find a sample letter to send?

Also...I was looking through my records, and found that I have an outstanding debt with US Fast Cash. They I say I still owe $175, I'll have to look to see what I paid them, but I'm 110% sure that it's been FAR overpaid. Question is though, do they fall under the cease and desist order that Maine sent out since they're the same parent company?

pdls are PROHIBITED in your state. They are not even supposed to be lending to residents in your state. So,they are illegal. Illegal, illegal, illegal. Are these idiots still debiting your bank account? Your PaydayLoanOnLine was an illegal debt. ARM is trying to collect on an illegal debt. USFastCash is an illegal debt. Illegal all the way around in Maine. Please tell us if these morons are still debiting your bank account or if your bank account is taken care of. That's my main concern. Because, honey, we need to send some letters out!

They're not still debiting my bank account, because Bank of America closed it...after it got to negative $1000. They refused to stop the ACH withdrawls, and these morons just kept on debiting. Different amounts, different days, anything they wanted. Fortunately, I switched my direct deposit 4 months ago.

So yes, letters? Help?

Sorry, the post above by Guest was me, forgot to login.

Also, what are the chances I could get any of the overpayment refunded?

Yes Letters, since ARM is a collection agency you'll need a cease and desist letter and a debt validation letter. If you go up top and click on a little tab that says "do it yourself" you will find sample letters in there.

If they can't validate the debt, which them being illegal and trying to collect on an illegal debt, they aren't likely to validate it, you can file complaints and get it taken care of.

Not sure if you have any other PDLs trying to take money from you still so I'm not sure if you need any other letters at the moment.

As volley stated, you need to send ARM a debt validation letter. Let those morons validate that nice illegal debt. You need to send USFastCash a letter also, just for your documentation purposes. Do you need help with a debt validation letter and a letter to USFastCash? Also, you need to file complaints on these companies. You need to file with the BBB, the FTC, and your state AG. You need to file against both the pdls and also one against ARM.

mbpritch, I am currently dealing with ARM as well. Where are they located. Mine is in Jacksonville, FL. They have been difficult. Please send the debt validation letter, be sure to send it certified return receipt. You may need the green card for documentation. Document all phone calls, date, time who called and what was said. If this is the same company they will continue to call and get nastier as time goes by. If you have any questions, please ask. Also, do as suggested and search the site for threads about them..there are quite a few. This will help you know what to expect and how to deal with them.

I'm working on a letter to both ARM and Paydayonline.

However, I just got a call from Cash Transfer Center, telling me that they were going to send me to a collection agency. I said, "Go ahead." She said, " Well, ma'am, we WILL get this money." I said, "Go ahead and try. Payday loans are illegal in Maine. So good luck." That felt SO good to say. Thank you guys so much, this is the most encouraged I've been in SO SO long.

I was going to use the letters from polly's blog to send to the PDL people, those seem good, any other suggestions?

I also have a good letter too if you are interested.....let me know if you want it.

Hey there! I PM'ed you the wrong letter!! I couldnt remember the situation and seeing now you needed the DV letter. Stand by for another PM!

mb, if volley sent you the letter (by mistake) for pdls, keep it! That's the one you need to send to all your pdls. All of them. The debt validation letter she sent you, you need to send to ARM. Now I see we have Cash Transfer Centers here. Okay. Send them the pdl letter. However, I also want you to type up a quick letter revoking any wage assignment you may have signed with them. Yes, this is covered in the pdl letter; however, with Cash Transfer Centers, do a separate one. All you have to do is type it up with their name and information on it, state "I (your name) revoke any and all wage assignments I may have signed with your company, your partners, or any affiliates". Then just type your name. Get that sucker out. Email it/fax it/mail it certified to them. They will send a wage assignment to your employer. Yes, wage assignments are totally voluntary. Yes, pdls are illegal in your state. However, I don't care. I want you to cover your a$$ all the way around. Get this wage assignment out to them ASAP. Keep a copy, give a copy to your payroll person, send them the original. Please do this. Doing "too much" is a hell of a lot better than not doing enough. I want you to cover yourself as much as possible. And you need documentation of everything.

I'm in the process of getting the letters out, and will fax/email/mail them tomorrow. I'll keep you posted :)

So...last night I picked up the phone, and who was there but Interim Cash. These people are UNbelievable. I asked for their address about 37 times (even though I already had it) and told them I would be sending them a money order. The guy was talking over me, being a general jerk, and I said, "Sir. Are you going to give me your address or not." And he goes, "Do you have a gun? Well do you? That's the only way I'll be answering to you." Click. I laughed so hard I almost peed my pants! :P

And I have another question for you guys, is US Fast Cash the same company as United Cash Loans? UCL was ordered by the State of Maine (where I live) to refund fees, does this apply to US Fast Cash as well?

mb, United Cash Loans and USFastCash are both d/b/a's of MTE Financial. However, MTE will not "own up" to a lot of their d/b/a's. They will claim it's "not them". They amaze me. So if United Cash Loans was ordered to refund fees, it's most likely just United Cash Loans. Until MTE "owns up" to being these 30 d/b/a's that they are, each one is treated like an individual pdl.

Quote:

WOW!!!
UNBELIEVED BAD debt collectors.







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Tania, go to the Pub! Fins started her "special" thread called Thanksgiving at debtcc! We need you to post on it, my friend! :D