Indiana IPDL Fifth Third response

What? I've never heard of a bank doing this - It should only be an issue of if these companies have authorization to debit or not. Not if you have fulfilled the terms of the loan contracts! Write up letters saying you have revoked authorization for each company, send them out certified mail, and then take them to the bank.

They can't tell you that you can't close an account because you have a payday loan! This is ridiculous! You need to talk to someone else there, don't even mention payday loans. Just tell them that you need the account closed and blocked from any further activity because fraudulant companies have your account info.

Once you get that account taken care of, run to another bank. I have never heard something this ridiculous from a bank before!

Somehow I wasnt too shocked reading that it was 5/3 that did this. I have noticed in dealing with them when you need something that it really depends on who you talk to. You may want to try asking for the branch manager next time you go in there.

Hey Ted...call the AG office too...We had a discussion about banks awhile back too and they also said closing my account was the best way to handle things. I will agree here in Indiana I have heard some bad things about 5/3 which is why I steared clear when I was looking for a new bank. They can't tell you you can't close your account...that's stupid.

ted, read my post on your other thread regarding 5/3. I, too, had 5/3. Please read your other thread where you posted. I responded to that one. Okay?

THANKS TO ALL FOR THE FEEDBACK. I will follow up with the call to the IN AG Office and am returning to 5/3 tomorrow to insist they close the account as 4 out of the 5 IPDL's will try and post tomorrow, though there is a ACH Block on them. Even 5/3 concedes the IPDL's may try to post for a lesser amount and 5/3 says they will watch that and try to forbid force open of the account. I have tried to print the Notice To Unlicensed Vendors and the IN Loan Rules that have been in friendly circulation on the threads and also visited the AG and IN FIN sites to try to find with no luck and wonder if the moderator or a contributor could email both of these important documents directly to me here in Many Thanks Ted

5/3 closed my account today as soon as told them there was "ongoing fradulent activity taking place with the account" I went to the Beech Grove (suburban Indy) location and the branch manager is Aimee and she closed the acct instantly and I withdrew all funds. There was no charge and if other 5/3 account holders need to close their accounts this is evidently a branch that really cooperates. For the public 5/3 is holding a free Fraud Seminar this Wednesday from 10:30-2:00 downtown at 145 N East ST INDY Reps from 5/3, AG and IN FIN will be there. I plan to attend, if I don't have to go out of town, and will report back here any news, but, I think a lot of news is at this site first actually. Thanks Goudah and all Contributors for success with this first step! Ted

That is great Ted!!!

Are you needing the Cease and Desist letter to send to the PDL's?

Glad to hear your bank cooperated! That is wonderful news!

Yes, I would like to see the cease and desist letter you are offering. I have seen another good one here and want to sort of customize mine as one of the other contributors suggests. I also would like to be directed to the site whre I can download and print the INDIANA AG's NOTICE TO UNLICESNSED LENDERS and INDIANA LOAN LAWS which I have seen conveniently place on this site, but, cannot print either at my home or at Kinkos. Thank you Ted email email address removed as per forum rules - Mike

Ted, we'll have to PM you with them. You do know how to check your Private Messages right? It will be on the right when you log in....

ted-I will PM you a letter with the Indiana laws inserted.

My site df19560 does not seem to have the PM feature to click on to obtain the downloads there for me by pokogeo and volleyballmom. Whom do I contact concerning this? Ted, thanks!

ted, since you can't pm for some reason, email Mike. [email]mike@debtconsolidationcare.com[/email]
He is the administrator. He can help you. :D
(God, I hope that's the correct email!)

[color=DarkRed]Email corrected - Mike[/color]

I emailed Mike @ [email]mike@debtconsolidationcare.com[/email] Thanks cannr.

[color=DarkRed]Email corrected - Mike[/color]

You're welcome! :D Mike can fix anything! He'll get you straightened out and we can pm you the letters and things you need! Hang in there!

Ted...here is the original thread with the Indiana Notice to Lenders letter....
http://www.debtconsolidationcare.com/indiana/unlicensed-lenders.html
You might be able to just copy and paste from here if all else fails...

Cannr and MSTAR Thanks for replying so soon, I want to get these certified letters out today and give a copy to 5/3 as backup documentation as to the basis of why my acoount was closed. That document certainly puts the force of law on our side. I am grateful the state legislature is looking out for us. Ted

ted, keep us posted on what's going on. And let us know if you need anything. :wink:

Attention everyone! Go to legal newsline website. Today's headline is the above subject and lists all your favorite ipdls that are in criminal circumstances in that great state. Hooray for the west va attorney general! Also lists all state's ag sites. Thanks ted 88

Update; Following Everyone's unanimous advice last Thursday Oct. 4th I successfully closed my 5/3 bank account and gave them a copy of the Notice to IN Unlicensed Lenders, then prepared the Letters of Revocation (along the lines of Biker Girls)and mailed them Certified USPS and notified my Employer of the same. I am filing with BBB tomorrow and the AG's office. Just a moment ago Payday Cash Link from Vegas called because their debit was one of those rejected at the bank last Friday and called me a thief when I told them I would not be repaying citing the Statute (null, void and uncollectable) and she really flew off the handle and hung up on me. It is a loan I took out "after" July 1st (that great date here in INDIANA) and I have not paid the the original $300 back maybe $180, but with her attitude well??? I also know they are not licensed in NV either. What's next? Will my certified letter and copy of the statutes make them even madder upon receipt? This was my first call from a lender since closing the accounts. (I told her also, if they tried to sue the case would be dismissed and they themselves might be subject to arrest by the Indiana Fraud Squad if they tried to appear in an Indiana courtroom. Maybe I should not have) Also WVA is fineing 3 of my 5 IPDLs - Webpayday, United Cash Loans, ameriloan (and many others) $5000 a day for resisting that State's Cease and Desist order. Thank you everyone for your guidance so far and I wonder how long might these uncivil calls go on? Ted

Ted-You have really done your homework!! Bravo to you!

Dont hold back, pull out the big guns with these jokers!! Because if you dont, they will!

Ted, I'm having a party all by myself here for you! :lol: You go! Yes, you should have said all that you said. And I'm damn glad you did! Just know that this is just the beginning. They are going to go spastic calling you. If you're not up for it, just don't take the calls. However, it sounds like you're up for it! :wink: You've got it going on! Just make sure you file those complaints. Also file with the FTC, okay? Do not leave them out. Do the BBB, the FTC, and your state AG. File, file, file. And, good for you! :D

Thanks for the Party Cannr!! Thanks Volleyballmom, my homework was easier because I had good teachers at this site like you guys and the reminder to file with the FTC tomorrow is duly noted too. It was great to get your feedback so fast! Ted

We love you, ted! I'm having a cigarette and some iced tea in your honor! :D