RI Payday Loans

Hi there, I am moving this to the payday loan help forum so more people will see it. Keep checking back for more replies. You are correct in that RI allows Internet based lenders to loan to RI residents as long as they are licensed in SOME state, but some of yours aren't licensed anywhere, right off the top of my head the ones unlicensed are: 500FastCash, United Cash Loans, and DJR, I'm not sure about the rest. One thing you might try is typing the name of each company into the search box located in the upper right hand corner of this forum, that way you can read what other members have said about these companies and perhaps find contact information for them. CLICK HERE to find out how to deal with illegal lenders. You might also try call the Rhode Island Department of Business Regulation at (401) 222-2405.

Thank you. I am going to try doing some more research on these companies.

Please keep us posted on what you find out. Good luck.

I am just so scared. I get paid tomorrow but there isn't going to be anything left after the interest and I have one payday that will be paid off. I know it is my own fault for getting myself into this mess. I am just hoping that if I close my account the legal companies will work with me.

Why don't you just go into the bank and place a freeze on your account. You need to get control of your finances again, the only way for you to do that is to go into the bank and have a hard debit block placed on your account, this way none of the lenders can access your account until you can find out which are legal and which aren't. You need time to get things straightened out, talk directly to the branch manager, ask that a hard debit block be placed on your account asap! Tell them there may have been some fraudulent activity on your account but you need time to investigate, meanwhile you need that account frozen. You don't need to give them too much information, just enough to get that block placed on it so you can straightened your finances out. We have all walked in your shoes, times are tough right now and people are doing whatever they need to do to survive, so hold your head up! Please get your account blocked until you can figure this all out.

I really think you should get your account blocked asap! I am serious, these lenders will bleed you dry unless you stop them in their tracks. You can read the thread about how to deal with illegal lenders on how to proceed. There is a lot of information in it that will help you. But, for now, please block your account.

My account is overdrawn today and I didn't know if I could put a block on it if it's overdrawn

Oh yes, you should be able to get a block placed on it whether it's overdrawn or not. That's your right.

Oh yes, you should be able to get a block placed on it whether it's overdrawn or not. That's your right.

I called BOA fraud line because I did have a charge of $33.00 come through from some company I never heard of so they froze my account and suggested I close it. Thanks so much for the advice. Now I am just scared of the calls I will be getting.

I went to the BOA branch today to close the account. My pay deposit went through but so did all the Payday ACH withdrawals. I tried to close the account, but they told me they couldn't that I have to work with the fraud dept. They gave me the 800 # and told me to call them. As of today I am only overdrawn a very small amount but there will be two more ACH withdrawals one on Monday and one on Tuesday that will make me very overdrawn. I don't know what to do from what I have read it says you need to deal with the branch. Please help.