PDL Help in NC
Date: Fri, 12/19/2008 - 14:30
Zip19 – Borrowed $600, paid 0 on this loan. Scheduled to be debited on 12/24/2008 for the whole amount. I have rolled this loan over so many times that even without paying anything on this one, year-to-date I have borrowed a total of $5300 from Zip19 and repaid Zip19 $5639.06.
MyCashNow – Borrowed $600, paid $111.72 in fees & $8.28 to principal. Scheduled to be debited on 12/24/2008. I have also rolled this loan over many times and to date, I have borrowed a total of $1100 and paid a total of $1186.22.
OneClickCash – Borrowed $350, paid $1125 in fees & principal. They say that I still owe $65, scheduled to be debited on 12/24/2008. I have borrowed a total to date $650 and repaid a total to date of $1515.
ameriloan – Borrowed $300, paid $270 in fees only.
CAN DES – Borrowed $300, paid $180 in fees only. On this one, I don’t even know who the company is because this is all that is identified on the bank statement. I’m not proud of this, but it is what it is.
Paycheck Today – Borrowed $300, paid $270 in fees only. Schedules to be debited on 12/24/2008. To date, I have borrowed a total of $600 from them and repaid a total of $930.
Here is what I have done so far:
*I stopped my direct deposit and asked for a live check.
*I have opened another checking account with another bank.
*I contacted OneClickCash via email and phone, told them I wanted the account marked in full, etc. and have gotten no where with them.
*I contacted Paycheck Today and offered to pay them $30 to complete the open loan, and they refused.
Please help. The bank account that all of these loans are drawn on in Bank of America. I have not contacted them yet as I still have an outstanding check that needs to clear before I can close it.
I just realized today that this year alone, I have paid $4760 in NOTHING but PDL fees (this isn’t including money towards principal) and NSF fees because of this garbage. I am so ashamed that I allowed myself to get in this situation. Please, any advice of help you can offer would be so much appreciated.
North Carolina Internet payday lenders are not legal, either bec
North Carolina Internet payday lenders are not legal, either because of restrictive laws, or because the state does not license companies not located in that state, but requires a state issued license to lend.
Quote:
North Carolina State Information Legal Status: Prohibited (N.C. Gen. Stat. ???? 53-281 authorizing payday loans allowed to sunset in 2001) Citation: The consumer finance act applies. N.C. Gen. Stat. ???? 53-173 Small Loan Rate Cap 36% per year Where to Complain, Get Information: Regulator: North Carolina Attorney General (See also Commissioner of Banks) Address: NC Attorney General's Office 9001 Mail Service Center Raleigh NC 27699-9001 Phone: (919) 716-6400 Fax: |
I hope the information below will help you. :) You are only obl
I hope the information below will help you. :)
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.
[quote]
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]
Most likely none of these companies will work with you because t
Most likely none of these companies will work with you because they have lent you money illegally - and they know it. They will threaten you with all kinds of crap but believe none of it. They can't sue you because they're illegal. Pay the principal amount and tell them to take a long walk off a of short pier.
What about the loans with rollovers? Will the money that I paid
What about the loans with rollovers? Will the money that I paid on previous loans go towards the current ones? Or will I still owe principal on those as well?
Any money you have paid to them goes toward the principal amount
Any money you have paid to them goes toward the principal amount including interest and fees.