IPDL Distress in FL! Need Help!

I was in the same boat recently. I am just now seeing a small light at the end of the tunnel. I have used CashNetUSA for about a year. I know that if you call and speak to a representative they will set you up on a payment plan. I think they will break it up into 4 payments. I can also tell you for sure that they will not accept an ACH revocation. If you haven't done so already, you may want to consider transferring your direct deposit to another account. You can always sign up for a pre-paid account. You get your direct deposit and pay bills. I just did this recently, so that I could take back control of our hard earned money. Don't get discourage. I was trying to juggle 12 internet loans and 3 store loans on a part-time work schedule.

First thing you need to do is close your bank account and open a new one. If your current account is overdrawn then ask them to put it in a deposit only status. Make sure you talk with the bank manager to get this set up. Go to the sticky that states how to deal with illegal lenders at the top of the main page and right a letter for each lender, which I have already looked and none of them are legal in the state of FL. One thing you can also do is take a copy of the letters to your bank when you go to close the account so they have proof that you have revoked the ACH transactions. Once you have done this file complaints with the Florida Office of Financial Regulation (FOFR) and FTC on each lender, you can file complaints with the Florida AG but they will just refer you to the FOFR.

In your letters make sure you state to them that you only owe the principal minus any amount already collected and that you want a address to send the payment. Now do not let them scare you that they do not have to follow FL law because they do. Also do not worry about them taking you to court because under FL law since they are not licensed the loans are unenforceable and noncollectable.

Hi everyone! So I closed my account and sent my letters. I got my first response right away from MB Marketing below. Can they legally send me to vollections and hurt my credit???? HELP! Will all of the PDLs do this???

I am in receipt of your request for revocation of your ACH payments with MB Processing. The appropriate adjustments have been made and we will no longer be pulling payments from your bank account unless otherwise notified by you.
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Because we are no longer pulling payments from your account, then you must contact our office immediately and make alternative arrangements to pay your account off. If you do not contact MB Processing within 5 business days from this notice to resolve this matter, then I will take that as your final refusal to pay voluntarily and your account will be forwarded to the outside collection agency; which at that time, will report to your credit bureau and make a demand for the balance in full plus collection costs.
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Your balance as of right now is $300.00. To get this matter resolved, I have authorization to settle your account in full for $150.00. If you cannot afford to pay the settlement offer then you must secure a payment plan through a credit/debit card to get the FULL balance paid off in a few payments.
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KARA, again, MB Processing will no longer be pulling ACH payments from your bank account nor will you be charged for any more service fees/finance charges. You will have 5 business days from the date of this notice to contact MB Processing and make alternative arrangements to pay your account off. If you do not sort out your financial obligations with us, then we must do what is necessary within our legal limits to collect the funds. It will be documented as your final refusal to pay voluntarily and MB Processing will proceed to enforce payment of the debt.
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Protect your credit and your finances by contacting my office immediately!



Thanks for your help!

Kara B

Tell them that you will only pay them the last $120 of the principle on the loan and nothing else. I would also demand an address be provided to mail the money order too. Don't worry about the threat of having this placed on your credit report, the simple fact is they are operating illegally in the state of FL so if it does show up just dispute it with the credit reporting agencies and it will be taken off. I had one that did try to have it placed on my credit report but once I sent all three credit agencies the dispute stating that the loan was illegal under FL law it was removed.

These companies are going to try and tell you all sorts of crap about how they are legal and that they do not have to follow FL law but in the end you are a FL resident and FL prevails.