13 payday loans and sinking in MD.

Yes, close your account immediately and then send a letter revoking ACH authorization and wage assignments to the company. You'll want to e-mail, fax and if you can find a physical address for the company, mail the letter. Type the name of the company in the search box to find the address. File complaints with the FTC, the BBB and the Attorney General of MD.

My understanding is that payday loans are illegal in MD. Therefore, you are only morally obligated to payback the principle you borrowed. Do you know how much you borrowed?

You may also consider asking your bank to help you with tracing the ACH processor. I got a few of them involved and it helped to expedite the process.

Good luck!

P.S. Keep your employer and bank informed about this illegal activity so that they can be on red alert if something happens.

Check the State laws on this site for Maryland and I'd also recommend contacting the State dept. of financial regulation number listed w/ the laws. They're a great help.

Hello smiley 327. out of the 13 loans you have, how many did you have to fax in. bank statements for. im looking for a few lenders where they just aproove you online with no faxing, let me know thank you. a few i tried they all want bank statements. and i saw where you had 13 PDL-S out just need some info thats all

I think maybe 2 that my husband has asked for bank statemenst but the other ones were online approvals. I just dont know where to start 11-28 is my next payday and if all of them draft i will have nothing left not for mortgage food or anything. but im afraid they will start calling my job or my husbands he is a police officer. im just trying to do something before payday. I'm gonna sit down this weekend and make a list of them all and read the contracts to see if i can get names and addresses of actual companies to see if they are illegally operating here. It's just so hard I fault my self for letting it get out of control any help anyone can offer will be great.Like should i type a letter to revoke ach or can i find it somewhere?

Smiley I would not wait too long to close your bank account. Secure your funds first, then work on each pdl. The first step is always freezing, closing or putting your bank account on deposits only to protect your interests. If your embarassed give your bank a letter revoking all ach transactions, but this must be done at least 3 days before you expect the transactions to hit. If there are other items that you pay via your bank account, call them and tell them due to fraud your account is frozen and pay them some other way but do not drag your feet on securing your account. You will never get out of the mess you are in if you do not do this. If people call hang up. As soon as you secure your account send your C & D letters out asap. You will sleep alot better at night if you regain control.

I agree, get that bank account closed. (read the sections on this site about closing accounts). When you go to the bank, talk to the manager, odds are very good they've heard similar stories to yours. Do NOT let the PDL's know ahead of time you're closing the account and after you've closed it, do NOT give them your new bank information. And, yes, they'll try to get it, they'll even be so "obvious" as to offer you an increased loan because "you're such a good customer." I'd also repeat what I said above about contacting the Maryland Commission of Financial Regulation. Get everyone you can on your side, and please keep us posted.

oh no I called the bank today from work they said to do an ach freeze would mean our paychecks cant be deposited either? said otherwise i would have to pay $20 per item to stop it for a 6month period. she said at the credit union they can't stop ach but allow deposits because they are the same. But tomorrow at 8am i will be at the bank to see what can be done. Speaking of sleep I hear you I cant wait to get control because right now my nerves are a wreck just thinking about payday.

Hi niya, I found your thread. Out of the pdl's you listed above, CashnetUSA is the only legal one. You will need to work out a payment arrangement with them. Here are the law's for Maryland, pdl's are prohibited. I will post some additional info in a second. The most important thing is to get to the bank in the morning & see what they can do to protect your account:
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Here is some more info for you, I will also post a letter you can use as well, you will need to tailor it for your situation:

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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. :)
Edited by Shazzers to activate links. :)

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Great thanx for all the info. I have another question has anyone ever heard of a payday loan consildation company called progressivela.com I was contacted by them yesterday said to close the account and make one payment to them every month and the pay them all over a 12month period. They negotiate the amount down? Said she would need the list and totals to give me a monthly amount. I told her needed to research it and would talk to her on monday.Is it true the can have arrested for fraud if you close the account?

Also forgive me if this is a dumb question but are all these pdls on my credit report now? pr only if i default?

I am a MD reside that have commited income suicide. I have 9 pdls, that i am certain I have paid more than in full for 5 of them. The other 4 pdls are scheduled to start debiting my account my next pay on nov 28.

I scares me to close my account because i know that i owe them and don't want to appear as defaulting on the loans. Plus i have had this account with Chevy Chase since 99', not to mention i have an open line of credit still active. I would like to stop everything and regroup. My general monthly bills are suffering tremendously and the holidays are here. Please someone, anyone, please help me.

Here is what I have as of this day:

Unitedcashloan(8/4/08 - $250)paid $480int + $150prin=$630

ameriloan(8/5/08 $300)paid $585int + $150prin=$735

Fastmoney911(8/7/08 $400)paid $817int + $75prin=$892

Onestepcash(10/1/08 $500)paid $450int + $50prin=$500

Speedypayday(10/1/08 $400)paid $360int + $50prin=$410

Fastmoney911(11/3/08 $300)paid $90

Mycashnow(11/7/08 $695)first payment $138 due 11/28 -$0 paid

Eastsidelenders(11/12/08 $300)first payment $90 due 11/28-$0 paid

Upfrontcash(11/12/08 $550)first payment $165 due 11/28-$0 paid

What a dilemma hah????

I had 10 pdls but on my last py of 11/15, I aid off Instantcashusa for $200 received 8/5/08. Yippe for that I guess

Hello how did you get all those loans at 1 time. i had a hard time getting 3 loans let me know and did most of those pdl. want current bank statements email me ok. Thank you

Richie,are you trying to acquire pdl's? Of course to each his own but as you may have read from the numberous posts, i would STRONGLY advise you to look into other options, under mattresses, rocks, anything but pdl's. Trust me!!! However, to answer your question,no. All of them where obtained online but we did conference with my bank to verify ach capabilities, last two employer deposit amounts and dates. Again look at other options, please!!!!!!!!!!!!!!!

Richie are you trying to acquire pdl's? Of course to each his own but as you may have read from the numberous posts, i would STRONGLY advice that you look at other options, under mattresses, under rocks, anything but pdl's. However, to answer your question, no. All of them were obtained over the internet and only required a phone conference with my bank to verify ach capabilities, last two employer deposit amounts and dates. Again please look into other options.

Hello i have 2 loans out now with united cash, and us fast cash. now im in a rut and i need m more money to get by, so all those Pdl you mentioned all want to Verify somthing. just asking i do need help and a Loan if any offers

Hey has anybody ever heard of Progressivedebt relief they do payday loan consilidation? or has anybody ever done one? I was a little skeptical she was telling me after you close they account you make one payment to them then they pay them all over a 12month period? any info would be appeciated

"Guest," if you're in Maryland, I'd advise calling the number given above for the MD Dept. of Financial Regulation to help you out. "Richie," I can only echo what "Guest" said, please find some other alternative to getting more PDL's. For every one you take out, you're digging yourself deeper and deeper into a hole.

Hey everybody thanx for the help and info I am working hard on this situation. but so far I have one PIF from prestige :D
I got this email today!!!!!
Loan w/ Vince is forgiven???????
From: Steven Capraio (steven@prestigegm.com)

Sent: Tue 12/09/08 1:44 PM

Your loan has been forgiven. Thank you


Steven
Customer Service, Prestige Group Marketing

So is this enough? Knowledge is power I'm on a mission now!!!

i have learned a bit of information that i found to be very interesting. I received a refund from what I thought was InstantCashUSA when it was in fact FastMoney911 aka InstantCash911. So they're working under this name as well people