Dealing With Unlicensed Payday Lenders

Quote:

Quote:

Quote:

Quote:

[QUOTE=Shazzers;393470]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]
I do not agree with this as I was once one of these people who took out a payday loan and I had to pay mine back through the courts so your information is totally false. You need to stop giving information that you do not know anything about. The Indian nation laws override because they have no laws....

The laws of Native Americans or India? Be specific! The information here is correct! I have done much research and have published several articles regarding illegal lenders!

Quote:

I was wondering if anyone new the Minnesota laws.

if anyone can help me...I am trying to locate the info for the payday loan laws for IA...I have done a google search but am turning up nothing...finally making some headway and trying to make sure I get this one done before I leave out for the day. If anyone can help me it will be greatly appreciated...thanks in advance!

Well never mind I found it but in an uncanny event the email address that I finally found for the co was bogus it came back by demon mailer...but I was able to send to a different address hope that will work lol

Ok so I got one to pif info md them awr will continue to pursue their no longer being in business in the US if they do not provide my refund...just waiting!! Thanks everyone!

Quote:

Hi,

I live in NY and have several payday loans out in which ive paid back way more than the principle...is there something i can do? please help.

Hi,

I live in NY and have several payday loans out in which ive paid substantially more than the principle, what can i do t get out of them?

Quote:

Thanks Shazz...can i use the letter template provided and change New Jersey to New York in all state mentions in the letter?

Quote:

I have 7 loans out currently. 2 I see are licensed in my state of DE.

CashNetUSA $500 (agreed to 3 payments on an arrangement to split-worked with them for over a year on loans paid off with no issues)-Licensed.
CashAdvance Network $400 paid $120 already. Don't see as licensed in my state.
National-PayDayloan.com $300 paid $500 already. Not licensed.
Paradise Cash Advance $500 paid close to $1,000 if not more. Not licensed
Integrity Advance, LLC $500 paid $360 so far. Licensed.
Ameriloan $400 paid $120. Not licensed.
Manhattan Processing $200 first payment 5/13 of $60 due. Don't see license.

I have sent 4 of them a letter of revocation of ACH by fax and 2 out of the 4 of those of have been sent certified or registered mail as well with return receipt. The other 2 i have requested their legal address to send them ones as well. I also sent a letter to them establishing a payment arrangement to pay down the debt only if they provide me a physical address as I have since closed my bank account and opened a new one which they do not have and will not get. They will have to sue me. Please let me know if I am heading in the right direction as I am changing my ways for the better now to protect myself.

Quote:

I too am in a rut. I have various online payday loans. Are they legal in AL. What can I do? I have paid them over three times in what I took the loan out for. What are my rights in AL. I get an call from an Officer Ploom occasionally from one company but he cant give me the name of the loan company. Help

Quote:

Anyone dealt with East Side Lenders? Had a $500 loan in Dec. '09 that I've paid over $1350 on so far. SEnt them the letter revoking ACH privilidges, cease, etc. and demanded a refund. Also reported them to BBB and AG in PA. They sent me an email saying they are in DE and abide by DE law and that I still owe the $500+$150 in fees but they will make payment arrangements if I need them too otherwise they will take me to court. Should I worry or are they blowing smoke? Not sure what DE law is for pdls. I know they've already gotten me for about $700 more than they lent. Any advise? Would greatly appreciate it!

Quote:

National gave me 7 days to respond to close as paid in full which i did and have yet to hear.
Cashadvancenetwork payment arrnagement pending as i have contacted to confirm receipt of letters and wrote emails to express my arrangements-pending their arrangement agreement.
Paradise told them they are illegal and not paying any more
Integrity pending arragement after calling they are going to work with me but have not finalized anything yet.
Ameriloan called and sent me to their compliance department. They are going attempt a POS charge to my account for the full amount as a check. Already went to the bank and contacted fraud department to make sure they don't open my closed account for any reason. Will deal with their collections department when the time comes.

I am in Delaware

update I got part of my money back the bank is still working to get the rest of my money back but now the co has made it so I never had an acct or at least I can't get to it. Doesn't matter all that I need I have sent to the bank and their merchant regarding the statements that they do not have to abide by American Laws and can keep hitting my account whenever they want...they have it so I should get the rest by next week will keep you posted. Though I never posted before I actually did any of the work...if you follow these rules as posted you can accomplish your complete release from these co

Hi, I would like to inform you that most of the online payday loan companies, are not legal and they do not have the license to do the business in the state of borrower. What I would suggest is to avoid taking payday loans, as they charge you high finance charges which actually makes your job more difficult to go ahead and pay them off there principal amount you have borrowed.

I took out about 8 payday loans via the internet in 2008 and got over my head ($2500). I closed my bank account about August 2008. I received several emails from some of the companies, sent them letters stating I would report them to my AG and BBB. I live in Nebraska. When I researched the companies, I could not find any that were licensed within my state. As well, at the time, all payday loans were required to be paid within 30 days according to NE law. All was quiet until this week, yes, almost two weeks later. I had one very rude guy call named Paul. He has called twice in two weeks stating I committed fraud threatening that he was filing court actions within my county. He stated he was from some law firm in California, but the caller ID showed Maryland. The second was from a number in Nebraska for Money and More. She was very nice. I told her I was disputing the loan and she said she would send me paperwork to dispute next week. I have not had to pay back any of these loans and they have not tried to take me to court or garnish wages. Anyone have this same scenario lately? Has anyone been summoned to court two years after the fact? :mad:

Hi, it is always necessary to go online and check with which company are they dealing with, because once when you take the cash and agree to pay the finance charges and later on when you find that you have trap, then you have no where to go. Apart from paying money to these pdl companies. So it is good be aware about each and everything before you take any harsh decision.

You shouldn't be worrying about getting sued by these internet PDLs as most of them are illegal. So suing you is not a option they are willing to consider. If I were you I would be looking to get risd of these debts ASAP by any means possible be it settlment or consolidation.

well brb what you need to do is is just wait and for them to come up with something if they havent yet responded then you can send them a debt validation letter asking them to validate the debt if they can do that you need to pay them and if they cant you dont need to pay them since they do not have valid proof that those are your debts keep everything in writing and make sure all the post sent to them is through registered mail (from now on please do everything in writing with regards to your debts or any thing else in life ).

Quote:

i would agree that you should close down you bank account so that the payday loan companies do not have access to your money any longer and then they will contact you and you can work out a settlement with them

Loanshoponline took me for over $6,000 in fees off of two PDLs - one for $400 and one for $100. They are not licensed in CA, plus no online lender in CA can continuously rollover a loan, loan more than $300, charge more than %15 in fees (they charged %30), loan more than one loan at a time (loaned me two). In November 2009 they received a Cease and Refrain Notice from the California Dept of Corporations to stop doing business in CA, in Feb 2010 my withdrawals from them mysteriously stopped but then I started receiving notices via email and mail and phone calls telling me I'ma great customer and to come back and reloan. I spoke with a lawyer yesterday and he said I definitely had a case against them to collect the illegal fees but that I had to send a demand letter before I can take them to small claims court. I'm a bot nervous to do this because I don't want them to start debiting my account again in retaliation. The good new though is the lawyer said the odds of someone showing when I file the claim are nill and I will most likely get a default judgement. Wish me luck on the letter and thank god my husband did not freak when I told him the amount they took from us. Anyone who has a similar issue with the company please contact me at

I have 4 outstanding payday loans. I am in Texas and can not find out if they are licensed in my state or not. I have contacted PDL assistance and they want me to pay $200 to start up and then $131 every two weeks. I am considering doing this myself now though. So....what happens if I don't pay PDL assistance th $200 even after I singed a contract with them? And, can you tell me if the following are licencsed in Texas or not?

Integrity Advance - Loan amt $500 and I have paid $150
Ameriloan - loan amount $300 and I have paid $180
Loan Point USA - Loan amount $300 and I have paid $256.50
Cash Net USA - loan amount $700 and I have paid $714.40

Thanks

Quote:

Not in every scenario the payday loan companies refunds your money back.

Quote:

I have a loan withCashjar. I found out through this site that they are not legal here in Utah and are out of Belize. They just took 1000 from my account and they were supposed to take 150.00. They wont give it back and said they would press charges if I stop payment. I told them they were illegal and I had already paid the principle. They now have received over 2000 for a 1000 loan. Plus, they say they can continue to collect. If anyone is thinking of using this company, but dont! Run for your lives. I am now unable to pay my house payment.

Quote:

Quote:

Quote:

Quote:

Payday unlicensed lenders are usually those people who are having huge interest along with their offered money. Just be careful when dealing with them.

I had 7 payday loans at one time open. I have since paid off 4 of them. I am in a payment arrangements wieh cashadvancenetwork where i have one more payment of $222 to close account. CashnetUsa i have one more payment of $195.83 to close out that account. If your going to use these then I suggest using CashNetUsa as they have worked with me for over a year and i have had no issues. I am concerned with Paradisecashadvance those. I sent them a ach revokation note, closed my account they had access to and have no heard from them. My balance was $200 but have paid them well over that and told them to go screw. Once i get these done I am free and clear after sending all the ones i had open to their internal collections. Anyone needs help with ones that I had give me shout and I would love to help. Companies - Ameriloan, National PaydayLoan, and Integrity Advance. I am here to help as I am not taking their BS.

National Payday -will give you a place in Colorado Springs called CSU to send payment. They accepted just the principal balnce which i sent by cashiers check. Received notice that account is closed.

Ameriloan - Will send you to their compliance department only allowing you to fax or email anything to them. I threatened to report them to the FTC and they have since been paid.

Integrity - Paid them off by paying principal balance plus one fee.

Let me get the straight. All of these posts are about which payday lenders are "legal" so I can pick and choose who I want to pay back? Huh. Isn't it YOU who took out all of these loans and are obligated morally to pay these back? Why is it the lenders fault whether they are legal or not? YOUR the one who chose to enter your information online and press submit.

I always pay my loans back and do not take out more then I cannot afford. Stop complaining about the fees. You agreed to them and they are displayed on the websites. Your not the victim the lender is. Grab ahold of your big boy underwear and grow up and take some responsibility for yourself.

it matters that the lenders are illegal because they are not allowed by law to lend. period. it is their fault they illegally lend money.
when the loans are illegal, the lender fully knows they are not legal and they are no victim.
Never once have we advocated not paying back what was borrowed on a loan. Never, so stop complaining about the companies that break the laws.

When sending letters to the unlicensed lenders that have gone to collections who should I send them to? The original company or the collection company? Or both??

Quote: