Starting the Battle Against Payday Loan Companies
Date: Thu, 09/06/2012 - 21:59
I live in Michigan, and have the following internet payday loans (keep in mind that, in most of these cases, the amount paid so far is not even half way to the amount I am in contract to pay):
American Web Loan: $600 (paid $540.00)
Quick Cash Ahead: $600 (paid $730.38)
Plain Green Loans: $600 (paid $427.56)
Integrity Advance aka iadvancecash.com: $600 (paid $596.00)
Kenwood Services: $300 (paid $540.00)
Blue Hole Financial: $300 (paid $270.00)
OneClickCash: $300 (paid $535.00)
So I found that none of these companies are licensed in Michigan, so I have done the following so far:
- I froze my bank account and initiated a "fraud kit" until the bank allows me to close it (hopefully today)
- I contacted each of these companies to let them know that I am aware that they are not licensed, to revoke ACH privileges and any voluntary wage assignments and to either arrange to pay the remaining principal or demand refund of any overpayment depending on the company.
- Contacted my friends/family/place of employment to let them know I am dealing with fraudulent debt collectors
Did I miss anything?
Although I think I followed the recommendations from this site pretty well, I am still concerned because Blue Hole financial is in Belize and I'm unsure how they will respond since they are outside of the US. I also wonder if anyone here knows anything about any of the other lenders listed. I'm worried about how aggressive they will be or if I made a mistake and one or more of these companies are legal...?
Thank you!
D
American Web Loan: $600 (paid $540.00)
Quick Cash Ahead: $600 (paid $730.38)
Plain Green Loans: $600 (paid $427.56)
Integrity Advance aka iadvancecash.com: $600 (paid $596.00)
Kenwood Services: $300 (paid $540.00)
Blue Hole Financial: $300 (paid $270.00)
OneClickCash: $300 (paid $535.00)
So I found that none of these companies are licensed in Michigan, so I have done the following so far:
- I froze my bank account and initiated a "fraud kit" until the bank allows me to close it (hopefully today)
- I contacted each of these companies to let them know that I am aware that they are not licensed, to revoke ACH privileges and any voluntary wage assignments and to either arrange to pay the remaining principal or demand refund of any overpayment depending on the company.
- Contacted my friends/family/place of employment to let them know I am dealing with fraudulent debt collectors
Did I miss anything?
Although I think I followed the recommendations from this site pretty well, I am still concerned because Blue Hole financial is in Belize and I'm unsure how they will respond since they are outside of the US. I also wonder if anyone here knows anything about any of the other lenders listed. I'm worried about how aggressive they will be or if I made a mistake and one or more of these companies are legal...?
Thank you!
D
You have done the right thing. You owe principal only as they ar
You have done the right thing. You owe principal only as they are illegal. Glance through this page to know about how to deal with illegal lenders: http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
Quote:- I froze my bank account and initiated a "fraud kit" unti
Quote:
- I froze my bank account and initiated a "fraud kit" until the bank allows me to close it (hopefully today) |
Make sure you give your bank a copy of the ach revocations.....your ach's are technically not fraud, you did authorize them. However that it was federal law is for...it allows you to revoke ACH payments.
Quote:
- I contacted each of these companies to let them know that I am aware that they are not licensed, to revoke ACH privileges and any voluntary wage assignments and to either arrange to pay the remaining principal or demand refund of any overpayment depending on the company. |
You make the decision as to how much you are going to pay each month on the illegal loans...you are in charge, not them. If you want to pay $1 per month, so be it. Do not put them in control of your payment arrangements. And dont expect refunds, especially from offshore lenders.
Quote:
- Contacted my friends/family/place of employment to let them know I am dealing with fraudulent debt collectors |
Give your payroll department a copy of the wage assignment revocations.
Dont worry about your offshore lenders....they dont have a leg to stand on.
