Stop Payday Loan companies directly taking out money
Date: Wed, 07/11/2007 - 08:39
What do I do to get them to stop taking out of my account. Sometimes the withdrawal has been taken out on the wrong day and I end up with overdrafts. One pdl did reimburse me for the overdrafts that they caused.
How can I pay everything with one payment. I have paid the loan many times over with the $90.00 they charge just to not take the whole amount out of my checking account.
Thanks
I know that usually we would tell you to close your checking acc
I know that usually we would tell you to close your checking account, but I believe that I read in a different post that MN is different about that.I know there is someone here from MN that could tell you more about that.
Could you tell us who your loans are through? and how much you have paid back?
You should prepare a letter to this company stating your state l
You should prepare a letter to this company stating your state laws and revoke authorization for them to make any further debits from your account. Once you revoke this authorization, they are no longer allowed to make debits and you can also show a copy of this letter to your bank.
If I'm reading your state laws correctly, you are being over charged.
What PDL's are you dealing with?
Yep Pink it looks like roll overs are not permitted.
Yep Pink it looks like roll overs are not permitted.
Minnesota does not have a long arm statute - Meaning that it doe
Minnesota does not have a long arm statute - Meaning that it does not require businesses not located in MN to follow MN laws.
This doesn't mean you are screwed - It just means there is a bit more research involved to find out what state laws each company should be following. You may find that the companies you are dealing with are not licensed in any state, in which case they are really breaking the law.
See this post regarding important info you should check into before you close your bank account.
http://www.debtconsolidationcare.com/paydayloan/close-account.html
Oh wow, that's crazy...I didn't know that about Minnesota.
Oh wow, that's crazy...I didn't know that about Minnesota.
It kinda sucks, but in other situations it can be a good thing.
It kinda sucks, but in other situations it can be a good thing.
Most ipdl's are licensed anywhere, so the issue becomes moot, but a few are licensed in states like Deleware, where the laws are very pdl friendly.
If you can list the companies you are dealing with, we can help you come up with the licensing info you will need . . . .