Mad as hell in Texas

Welcome to the forums!!!
You should contact with the Texas Office of Consumer Credit Commissioner in order to know whether or not pdl companies are licensed in your state. Their contact detail is as follows:
# Address - 2601 N. Lamar Blvd. Austin TX 78705
# Phone - (512) 936-7600
# Fax - (512) 936-7610

If you find that the lenders are not licensed to operate in your state, then you are required to pay them only the principal amount. Ask them for the refund, if you have paid them more than the principal. If they are licensed, then you will be accountable for both the principal and interest. In such a case you may get help from a professional debt relief company.

Mycashnow - illegal
East Side lenders - illegal

Nandy is right. Since Mycashnow and East Side lenders are illegal, so you can visit the following link to know about how to deal with illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

Yeah NONE of these companys are legal in Texas. I'm about to call USAA and have the ACH debits held. I'm freaked out that I'm about to invoke a world of hurt upon myself but I'm disgusted at the amount of money I have already paid these people and I don't want to pay another red cent.

So I sent out my cease and desist letters yesterday and today I find that Eastside Lenders has debited my account for another $155.00. Called USAA and spoke with a representative who informed me that they had to respect the original agreement with the IPDL company unless I provide documentation otherwise. I am (supposedly) to be recieving a form to dispute the legality of the contract. Until then all the stop payments/ACH authorization withdrawals/closing of the account is meaningless. I want to cry right now.

Total BS. Tell your bank to refer to , Federal law, Regulation E Section 205.10

c) Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer.
(2) Written confirmation. The financial institution may require the consumer to give written confirmation of a stop-payment order within 14 days of an oral notification. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. An oral stop-payment order ceases to be binding after 14 days if the consumer fails to provide the required written confirmation.

Close your BANK ACCOUNT ASAP!

I had a loan with East Side Lenders as well, I filed a complaint with the BBB after I had sent them a letter revoking all ACH transactions. I broke down all the figures to East Side Lenders and clearly stated all transacations. They have posted my loan as Paid in Full.
My bank was not very supportive. They did state transactions will go through. I cancelled my direct deposit at work ASAP so that funds would not be available. Do not back down.

FYI...the BBB is a waste of time. They are a letter writing organization and have no legal powers.

Received this message today from TOCCC

Re: EastSide Lenders, Wilmington, DE

Ms. Lewis;

We are in receipt of your email concerning the above listed organization and your cease and desist notice.

First, the above-named organization is not licensed by our Office at this time. Based on a review of EastSide Lenders???s website, this organization is utilizing the statutes, rules and regulations of the State of Delaware as indicated on their website and in the Arbitration Agreement (Terms and Conditions statement). As such, they (EastSide Lenders) are allowed to export the rates of that particular state (Delaware) into Texas. So long as the organization is operating within the guidelines of federal statutes (federal statutes preempt state statutes) or under the guidelines of the states in which they are incorporated in, then the organization is free to operate within the boundaries of every state.

I am not an attorney and, by state statutes, I am not in a position to comment on the statements that we made in your email of above assertion. You may need to seek the input of an attorney in order to explore any options/alternatives that may be available to you.

A quick review of EastSide Lenders website again indicates this company is domiciled in Wilmington, DE. Consumer Loans (non-real estate) in Delaware are regulated by:

Office of the State Bank Commissioner
555 East Loockerman Street, Suite 210
Dover, DE 19901
[URL="http://www.state.de.us/bank"]www.state.de.us/bank[/URL]

As of this letter, we will be closing your complaint and filing it in our database for future reference. The Complaint Database is available to both public and private entities under the Texas Public Information Act upon proper written request. If you have any questions concerning the contents of this letter, pleased do not hesitate to contact me at 512-936-7630.

Respectfully,
Gary. F. Meissner

Any suggestions? I have filed complaints with the FTC and Tx AG and resent my C&D letters. I really want to nail these guys so please help!
BTW I got a refund from FlashLoans and Archway has not tried to debit my account again. Will have to fight MyCashNow as they have sent my account to their collection agency.

Hate to be a pest but I really do need help here. I've read a ton of post responses from the forum experts who say these companies are illegal but no one is really saying how beyond the fact that they (illegal out of state PDL companies) violate individual state law by failing to secure a license before lending to residents. Is the only answer to continue to file complaints with the regulating authorities (FTC, state AG, state banking commission) and watch the insufficient fund charges pile up?
This rep from the TOCCC is telling me that unless ESL violated FEDERAL law, they can just continue to cite Delaware law and charge me whatever they want. So how do I, who is not in possession of a legal degree, prove my case? Because USAA does not give a flip about revocation of ACH authorization and they are more than happy to charge me $29.00 each time ESL tries to hit my account, which they are about to do so this week and they've decided to do it thrice. If no one here is able to help can I just get the name of a lawyer who can?

Still no reply from Eastside Lenders despite the barrage of C&D letters BUT they did not attempt to debit my account last week. I haven't heard back from TX AG or DE AG. Should I cut my losses or go after them for the $3900 they owe in overpayment?

Hello-

I bank at USAA as welland went through payday loan drama. All I had to do was send a signed letter (via fax) to USAA issuing a permanent stop payment on the company to debit. In the letter I included my account information, the name of the debtor, the dollar amount being withdrawn and the next expected date of withdrawal.

In the letter I told USAA that I revoked the companies authorization and they were not honoring it. The one time fee for the permanent stop payment was $30. It may be more now.

That was a few years ago.

Thanks.

Toni