Payday One processor

Personally I haven't, but I do know they will do that and it has been posted on here. I am not sure exactly what binds you to that but if it gets a PIF I would certainly look into it. Hopefully someone will be along to answer that question for you. Kinda funny though, if you are not doing anything wrong, why wouldn't you want anyone to talk about a PIF? I am interested to see how this works myself.

The agreement says I will not post any information in blogs or on websites (mentions a certain one...lol) and then I get a PIF. Which - okay, I can take that...

I really need to find the processor for Payday one...I havent' been able to find it here yet.

Have you asked your bank's ACH Department if they can give you the info for the transaction? You could try calling Intercept or ACHC to see if they can help. That's pretty interesting that they don't want you to talk about them on a blog. . .ha ha. . .just how binding is that I wonder? Unless you have some additional info on them that has not been disclosed on this board, I don't see the problem. I think we pretty much know what we need to know about them. . . .they are evil as all hell. This is the internet for the love of God, you can be anybody you want at any given moment in time. How would anyone ever know who was saying what about who. . .these slugs are insane! I could say something under llw, turn around and post under Joe Blow and who would be the wiser. Unless someone has something to add, I would take the PIF and let the chips fall where they may.

Payday One is a legal company. First off, they will stop debiting your account if you ask them in writing.

Second, since they are a legal company, they could sue you to collect. So just be careful what you are doing.

Legal companies and illegal companies need to be fought differently.

Also, most pdl's will put in their settlement agreements that the settlement is confidential and that it can't be disclosed at all. That is very common.

Payday One will work with you. Call them and tell them you want to make payment arrangements to pay back the principal.

The blog comment...wonder who got under their skin? I think more than a few people here thought blogs were for self promotion. Interesting to see the effects a little PR has.

How is Payday One legal? I 'm in Kentucky...I thought they were illegal here? I've more than paid back the principal so I was hoping for a paid in full.

I was under the same impression. I live in New York and I based ALL my communication on the fact that they were illegal. I thought prohibited was illegal, plain and simple.

Payday One is licensed in every state they lend in, unless that state does not require them to be licensed. Payday One and Cash Net USA are two of the very few internet based companies that actually bother with state laws.

They are either a licensed PDL or a registered CSO in every state they lend in.

My other question is have you actually revoked authorization to debit with Payday One yet? They will honor it.

You should only be contacting the processor when the company has a track record of ignoring revokes, or you have revoked and they are continuing to debit the account.

Payday One is also very easy to work with. They will often times mark you PIF if you've paid a lot already, even though legally they could still collect.

But, if they are prohibited in a state how can they legally lend there?

PayDay One is pretty easy to work with in my experience. They have the best, friendliest, and most helpful customer service reps I've ever seen as far as PDL's are concerned. They ARE legal as Goudah stated, but they will work with you and my experience is that they don't try to belittle or demean you when you ask for help. They should be commended for making the effort to be legal, when the vast majority are not. CashNet USA is the other legal internet PDL that comes to mind, but their customer service is just atrocious and very unprofessional.

That wasn't really a guest. That was me. Forgot to log in again...

See I don't understand how they can be legal in New York when they are prohibited by law. Doesn't it depend on the laws of the State you are in and wouldn't that affect how you could go about dealing with them?

It does depend on the laws of your state. I don't know New York's sate laws, but you can be sure that someone will come along soon with that information. I'm just saying that they are licensed in the states that they are lending.

I am in New York and all my communications have been based on the fact that they are prohibited. So that would follow suit that even if they are licensed in another state, they would be handled differently by me, as a resident of New York State, as opposed to someone who lives in a State where they are not prohibited. I cleared all my PDLs within 3 months and I have never had anyone question anything that I was asking them to do. They just did it. I am assuming the reason was that they were illegal in my State.

I do see where PDL's are indeed prohibited in NY as you stated, so I don't see how any PDL would have a legitimate dispute. I know that PD One is a subsidiary of Think Cash and they go through the bank of Delaware, so maybe they somehow think they are legal when they are not in NY. This surprises me because they've been following Oregon law to a "T" since it was passed in July 2007. Do you know how long PDL's have been prohibied in New York?

Well..here is what I did.
I sent them another letter to revoke authorization and C/D phone communication.

And I offered to approach a settlement - though if you include what I have paid here and what I paid BEFORE it went to payday one...I have more than paid the principal. I would settle for a simple PIF.

I am hoping they will work with me. I tried to mention that the company who had the loan before they bought it DID operate illegaly, etc.

I guess I'll see what happens next. Eeek.

gold. . I do not know how long they have been prohibited in New York. I guess I never gave it a thought as to any ramifications as I just said you're illegal, go away. I have been very fortunate. I send a C and D and they never tried to debit again. I called the processors and immediately got a PIF. I really do think that the "prohibited" "illegal" status worked in my favor. New York has some quirky things about it that bug me but in this case I am so glad I do live here. My hope is that someday all of these illegal operations will go under and those who are legal will maintain the standard of being fair to their customers. Or, the powers that will recognize what the illegal PDLs are doing and outlaw them everywhere.

Payday One doesn't give loans to NY residents anymore.

I know I've called NY Dept of Banking before and was told that their laws only apply to businesses with physical locations, and that loans over the internet aren't included in the prohibition.

The other thing I can think of is that they were loaning to you as a CSO. That would get them around the pdl prohibition legally.

I will also say that I agree with Gold's statement that Payday One is the nicest and easiest pdl to work with.

goudah. . that is interesting because that was the one question that they asked me when I spoke with them. They told me that prohibited was prohibited and they proceeded with my complaint.

Honestly, I've heard 5 different things from 5 different people in NY . . . . Everytime I called I got a different answer. I go with the same as you do, they are all illegal.

I do see now the Payday One does not lend to NY residents anymore . . . . .

The illegal thing must be the way to go because it has gotten all of them out of my hair.

Can't post the link, but Cashnet500 aka PDL Yes was licensed in Utah and the State of NY crushed them. But that was before the hookers.

Cash Net 500 is a bad bad company.

guest . . .that was a good one! I don't things have gotten much better post hookers either!

Illinois did better against Cash Net 500 . . .

I emailed paydayone and cashnetusa this morning revoking ach payments and will be faxing it and sending it certified today just to cover myself and have lots of proof.

Will they actually stop the ach????
And do I need to wait until the loan defaults before asking for EPP???

They are both legal so they should both follow the law.

Once the ACH is revoked and they confirm they will not send the ACH through then they will make payment arrangments.

Just remember that even if they are compliant with the Electronic Funds Transfer Act, they don't have to stop the ACH if you revoked it less than 3 business days before the scheduled debit. And CashNetUSA takes the position that since a payday loan does not require "multiple payments" there is no right to revocation. (Note that this is just their legal position, though, and if you read the EFTA and NACHA rules it isn't a ridiculous one. In practice, they generally will cease attempts to debit the account.)

I would strongly urge you to close the account - or at least put stop payments in place.