Needing Help Regarding Internet Payday Loans!
Date: Wed, 12/09/2009 - 11:34
I live in Indiana and a few weeks ago I took out several online payday loans in an attempt to get me out of a financial hole. After paying the finance charge alone on several of these loans bi-weekly, I have found myself in a deeper whole and unable to maintain household expenses. I am so afraid right now because these companies have my banking information. I contacted all the companies by phone to discuss possible payment arrangements and none are willing to accept my request. I noticed that all of the companies are illegal in the state of Indiana. What should I do? All loans (minimum finance charge) are due 12/11/2009.
Kingston Financial: $289 ($200 plus $89 finance charge)
My Payday Loan: $375 ($300 plus $75 finance charge)
Paycheck Today: $260 ($200 plus $60 finance charge)
Loan Point USA: $390 ($300 plus $90 finance charge)
You could ask your bank to put you on deposit status only. You c
You could ask your bank to put you on deposit status only.
You could close your checking account.
The EFTA states you have to give the bank 3 days to cancel an ACH before it's due to be processed so it's too late for this week. However, you can complete the forms at your bank for the next withdrawal to have them stopped. Then you need to send ACH Revocation letters to them.
PDLS are not going to negotiate. They want their fees and don't care a rat's butt about your difficulties. You owe only the amount you borrowed.
If all these lenders are illegal in IN, you may check the follow
If all these lenders are illegal in IN, you may check the following link for assistance to deal with them.
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html
Aubrey...Thank you! I went in this morning and spoke with the Br
Aubrey...Thank you! I went in this morning and spoke with the Branch Manager of my bank. She did place my account on deposit only status, blocking all withdrawls and we will close the account on Friday. She was nice enough to open me a new account without charging any fee since I have been a customer for over 6 years. I have changed my direct deposit information with my employer and this week I'll be receiving a "live" check to be safe. I have sent ACH revoke letters to all the PDLs. I'm just afraid that they will begin calling my employer concerning the matter.