GRC Funding and PDLTrans Loans
Date: Wed, 02/25/2009 - 20:58
I live in Alaska. Back in August I made the foolish mistake of answering an email for a payday loan. While filling it out online I received a call to "complete the application". Unknowingly, I ended up with 2 loans!!
I have been trying to get these companies to stop pulling out funds from my checking without success. I am told from one of our local "Payday Loans" company that in the state of Alaska a "loan" can only be rolled over twice and then must be paid. No longer can it be continued and any further funds collected must go to principal until the loan amount is met. They then, "by law" they can not collect any further monies. Is this the truth? I can not even find a company for "ACHLoan" aka "PDLTrans", "PaydayTrans", "ACHLOANCo", etc... to talk with.
8/6/08 $200.00 loan with ACHPayDay
to date have paid $962.00
8/6 $500.000 GRC Funding
to date have paid $1500.00 and was told that the "payoff" was $850.00
Please help!!!!!
I have been laid-off and this has totally killed my account.
I have been trying to get these companies to stop pulling out funds from my checking without success. I am told from one of our local "Payday Loans" company that in the state of Alaska a "loan" can only be rolled over twice and then must be paid. No longer can it be continued and any further funds collected must go to principal until the loan amount is met. They then, "by law" they can not collect any further monies. Is this the truth? I can not even find a company for "ACHLoan" aka "PDLTrans", "PaydayTrans", "ACHLOANCo", etc... to talk with.
8/6/08 $200.00 loan with ACHPayDay
to date have paid $962.00
8/6 $500.000 GRC Funding
to date have paid $1500.00 and was told that the "payoff" was $850.00
Please help!!!!!
I have been laid-off and this has totally killed my account.
Since you have already paid off much more than you have borrowed
Since you have already paid off much more than you have borrowed, you should first collect a copy of the statements from the bank as a proof that the creditors have debited your bank account to recover the debt and then close down the existing checking account and open a new one. This is because you have authorized the creditor to debit continuously from your checking account which cannot be stopped unless you close it down.
You are correct that they are only allowed two rollovers. Clo
You are correct that they are only allowed two rollovers.
Closing your account it the only way to stop them.
