Dealing With Unlicensed Payday Lenders
If everyone will just give a link to this thread to the new members who come here for guidance it may be more helpful and less work for the experienced members who are researching information. I wrote this awhile back and am most happy to share it. THANKS!
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
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. :)
[QUOTE]
Date:
Name Of PDL
Your Name
City, State
Account #
This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.
(Insert Your State payday loan laws here)
(Insert either (a) OR (b) which ever statements below which applies to you)
(a) The state of (insert your state) prohibits payday loans, therefore, I am bound by the state laws where I reside. As I have no presence in your state or country (only insert one choice, state or country, depending on your situation.), therefore I have no legal obligation to the 'governing laws' you may have detailed.
OR
(b) The state of (insert your state) requires Internet payday lenders to be licensed in MY state. I have already researched this information, your company does NOT have a license to lend in the state of ___________, if I am mistaken I will need proof in the form of a license number so that I may verify it with my Attorney General. I am bound by the state laws where I reside. As I have no presence in your state or country (only insert one choice, state or country, depending on your situation.), therefore I have no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today (insert todays date) I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above no longer have my permission to access my accounts or impose a wage assignment.
I will only communicate to resolve this matter via email. If you ignore this notice and attempt to contact me or any of my references via telephone, you will be ignored and any payments owed will be delayed. I am willing to pay the principle amount of the loan only, however, no address means NO payments, this is not negotiable.
If you do NOT reply to this notice within 48 hours I will be forced to file complaints with my Attorney General (insert name of your attorney general), the BBB and the Federal Trade Commission. If you reply to this notice with any misleading legal implications or menacing course of actions you are unable to follow through with, I will be forced to take actions against you which could cause you to lose your license in the state of (insert the state they are licensed in) < (only use this statement if the illegal lender is licensed to lend in a state other than yours) and cause damage to your reputation, which could potentially decrease your clientele!
Sincerely,
Your Name[/QUOTE]
Yes - Western Sky is a
Yes - Western Sky is a illegal tribal lender.. follow the information in my signature by OhioGal on how to deal with step by step... And if you can start your own post it will be easier to track - also please register with the forums...
payday loans
I have several payday loans and im current with payments I haven't miss a payment at all
I have a guy named "adam white" says he is an attorney and when i called back
He says im calling an attorneys office.okay so what firm is it and why are you calling me.
He said there is a crimnal case against me and mumnled something payday loans.
He hung up on me afyer he told me to get an attorney. The mumber is from florida. I live in california and have payday loans
Online.
Unitedcashloans
Usafastcash
Paydaymax
247greenstreet
Cashcentral
oakwood loan services
I took out a 150 loan thy have a '' processor lookin for me calling my job saying they have pending charges filed against me for breach an fraud i live in fl can they file charges?
Loan with HIGH interest
Does anyone know how to get out of the high interest payments through Cash Call/ Western Sky??? Do I approach them the same as a payday lender. I live in Indiana.
PDL's in Oklahoma
I have a loan with Plain Green and I'm trying to see if they are licensed in OK. I took out a loan for 1400 back in November of last year and as of today the principal amount is only 1200. I feel like they're basically robbing me. What can I do because I've paid almost 1900 to them since November.
PDL IN OKLAHOMA
so I have a loan with plain green. Wanted to know if they legal or licensed in OK. I have. 1400 loan with them from back in nov of last year. As of today I've paid them over 1900 and my principal balance according to them is only 1200. What can I do about this
Help PDL
I have three pdl going at the moment. One is with Lakota Cash, One with Advance me today and One with Western Sky which transffered my account to Cash Call. The first two are under just around 500.00 and the last is a 2500.00 with a ridiculous interest rate. I have major issues and a new born and needed cash and had no other options. I found your site while looking up info on Payday Loan consoldiation center which I am glad I did as they have major complaints against them. I live in NY and and find my self now sinking and not having any money left from my bi-weekly paycheck. These were all internet loans. What can I do to put a stop to all this? Thanks
Payday lending is illegal in
Payday lending is illegal in New York which means you are only morally responsible for paying back the original amount borrowed, nothing more. On this site, click on link on how to deal with unlicensed lenders. Follow every step, do not skip. Keep us posted on your progress.
Thx Bingonut
Funny get calls and emails from cash call about being late yet my bank acct shows the ACH. They have already in less than two days said my account has been turned over to collections. I checked their site and they have BBB logos etc. As for closing my bank acct where would I find the NY regs?
Reg E and ACH revocation is
Reg E and ACH revocation is federal law....look in the sticky section at the top of this forum.
Links
I also notice the links up top have a 404 error. Soaplady what sticky section are you referring too? I am new to the site and I have to contact the webmaster as well as I am not able to register on the site. Thx
Help PDL
Now I get the following email from them as I emailed the dispute of the loan and the sale there of ......Dear Borrower,
Your account is now past due. We have not received your payment and pursuant to your loan documents, a $29.00 late fee has been assessed to your account.
If you have not mailed your payment or recently talked to one of our customer service representatives prior to receiving this letter, please call our Customer Service department at 877-525-2274.
Your loan has now been transferred to the collections department and a loan counselor has been assigned to your loan. Our loan counselors will be able to assist you with a short term payment solution.
Sincerely,
CashCall Customer Service
877-525-2274
This communication is an attempt to collect a debt and any information obtained will be used for this purpose. As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. Then I get this letter....NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS
This e-mail concerns the personal loan that you recently obtained from Western Sky Financial. Please be advised that your loan has been sold to WS Funding, LLC. This letter is your official notice of the loan sale and the transfer of loan servicing. Effective today, your loan is now owned by WS Funding, LLC and will be serviced by a company called CashCall.
The outstanding principal balance of your debt as of this date is $2,600.00. Unless you dispute the validity of the debt, or any portion thereof, within thirty days after receipt of the notice, CashCall will assume the debt to be valid. If you notify CashCall in writing within the thirty-day period that this debt, or any portion of it, is disputed, CashCall will obtain verification of the debt and will mail it to you. We will also provide you with the address of Western Sky if you so request.
Going forward, CashCall will handle the servicing of your loan, which means collecting your payments and handling related issues. We wish to assure you that the terms and conditions of your Promissory Note and Disclosure Statement will not change in any way, except for the fact that you will now be making all of your payments, including your first payment, to CashCall. As stated in your loan documents, your first payment of $195.00 will be due on April 1, 2013. Western Sky will not accept payments from you beginning March 21, 2013.
CashCall is committed to courteous and responsive service, accurate and timely handling of your payments and simple and direct answers to your questions. For prompt response to all of your inquiries, please remember to reference your account number 26894275.
To ask about this statement or general up-to-the-minute account information, please call 1-877-525-2274. Our hours of operation are 6 a.m. to 8 p.m. Pacific time Monday through Friday; 8 a.m. to 12 p.m. Pacific time Saturday. Or write to us at:
General Customer Service Inquiries:
CashCall, Inc.
1600 S Douglass Rd
Anaheim, CA 92806
info@cashcall.com
Payments:
Attn: Payment Processing
CashCall, Inc.
P.O. Box 66007
Anaheim, CA 92816
So at this point I should do an ACH revocation with my bank which I think will be a pain and there is no way to open a new account with as they link accounts even when asked not too. I have direct deposit so I am thinking of just going to a different bank down the street. Where would I find the regs for NY for closing a bank account with ach attach etc.? I see Soaplady mentioned Reg E not sure what is meant by that. Thank you all for the assistances thus far. I have to deal with them, Advanced Me Today and Lakota Cash and try to get my life back.
Still looking for help
I sent a post on 5/17/13 but haven't seen a reply yet. Still need help pls
well
plain green is illegal so go to soaplady's sticky on dealing with illegal lenders.you overpaid so close your account and follow the steps in the sticky.
Help PDL
I get this email back from CashCall/WS so should I keep following the steps fro dealing with them as outline on the site?
Dear Customer,
Thank you for your correspondence. Your account has been placed in a cease and desist status. All communications from CashCall going forward will be communicated in writing through mail or email only. You stated payday loans are illegal in the state of New York, the loan obtained though Western Sky on 03/12/13 is not a payday loan and you will be receiving a letter pertaining to legality of your loan.
We have received your email request to cancel the auto withdrawal on your loan. Your request has been processed effective today. Please keep in mind that your due date is on the 1st of every month. If you have any further questions, please feel free to contact us at 877-525-2274.
Thank You,
Marsha Delly-Hodge
Customer Concerns Representative
Help PDL
Sorry the cut and paste did not work..This letter is to inform you that I am aware that the loan you issued to me, is not legal or binding in my state of New York. Also the fact that Cash Call purchased an illegal loan which the above hold true to as well. Also the sale and/or transfer of said loan was done without my approval or signature. For your convenience, I have included my state’s payday loan laws below.
This notice is to remind all persons and entities collecting debts in New York that they should not seek to collect on illegal, usurious loans made in New York, including payday loans. This includes illegal, usurious payday loans made in New York over the Internet and via phone and mail. In New York, under General Obligations Law § 5-501 and Banking Law § 14-1(1), loans or forbearances under $250,000, made by non-bank lenders or New York chartered- banks, with an interest rate of 16 percent per annum or greater, constitute civil usury and are illegal. Further, under New York Penal Law §§ 190.40-42, loans made in New York with an interest rate of 25 percent per annum or greater constitute criminal usury.
Subject to the provisions of General Obligations Law § 5-511, loans offered in New York by New York-chartered banks or non-bank lenders, with an interest rate above the statutory maximums, including payday loans, are void and unenforceable. Debt collectors should take note that attempts to collect on debts that are void or unenforceable violate state and federal law.
The state of New York prohibits payday loans; therefore, I am bound by the state laws where I reside. As I have no presence in your state, therefore I have no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today 5/24/2013 I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above no longer have my permission to access my accounts or impose a wage assignment. If you ignore this notice and attempt to contact me or any of my references, telephone, you will be ignored.
If you do not reply to this notice within 48 hours I will be forced to file complaints with my Attorney General Eric T. Schneiderman), the BBB and the Federal Trade Commission. If you reply to this notice with any misleading legal implications or menacing course of actions you are unable to follow through with, I will be forced to take actions against you which could cause you to lose your license in the state of South Dakota and California and cause damage to your reputation, which could potentially decrease your clientele!
Sincerely,
Yes, same letter we all get
Yes, same letter we all get from them... You will get lots more..
PDL in Oklahoma
I saw we're payday loans are legal in my state but the interest rates are low. How does that work with Internet payday loans. I have one with plain green since December of last year for 1400 and as of today I've paid them a total of 2000+. According to their website my current principal balance is only 1215. What can I do about this because i feel like I'm getting robbed here.
Please, register with the
Please, register with the forums..
Online lenders must be licensed in Oklahoma. -
Plain Green, LLC is a tribal lending entity wholly owned by the Chippewa Cree Tribe of the Rocky Boy's Indian Reservation, Montana - not going to be licensed to lend in OK... You will want to follow the steps in this link on how to deal with http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html- all steps in order!!!
You are only morally obligated to repay principal only -- I see you borrowed $1400 - how much exactly have you repaid them to date - they technically owe you a refund - but you will more than likely only get a PIF - but you won't have to pay them any more..
Internet Payday Loans
I live in Indiana and I have 3 payday loans with the following companies:
Federated Financial Services- 450 have paid 112.50
CastlePayDay- 300
AALM ConsultingLoans- 250 have paid 225 and they will be taking out 175 on 6/15
All of these are internet but I do not know if they are legal companies. I am familiar with the Indiana payday loan laws and would like to know what my options are
You will need to check with
You will need to check with the Indiana Department of Financial Regulation to see if they are legal. If not, on this site is a link on how to deal with unlicensed lenders, follow every step, do not skip. Keep us posted on your progress and register with the forum so that you will see answers to your posts. Good Luck!