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not lic'd in calif for payday loans

Date: Sun, 04/10/2011 - 23:03

Submitted by d.winegar15
on Sun, 04/10/2011 - 23:03

Posts: 3 Credits: [Donate]

Total Replies: 5


I have read several threads about this subject but I don't see anything concrete about calif laws. I have a couple of questions
1. i have a loan out now for 400 and they are saying i have to pay back 520 ACH debit. ( for which i have already sent a letter revoking my auth to the PDL also going to the bank in the morning to close acct) problem is they are supposed to debit my acct tomorrow 4/11/11 i called the bank they noted the acct but i have to go to the bank tomorrow. the pdl will try and bill me for an additional 120 extension fee, 55 fee for return ck. What exactly do I have to pay back and are there any criminal action they take against me.

2. I had before a store front payday loan and I had to file chap 7 but they keep billing me and it is on my credit report as unpaid . they are also not lic'd in my state.

3. on my credit rep. there are a couple of PDL's that had offered me money but for one reason or another i never received the dep. in to my acct yet they on my CR as a bad debit. they never even loaned me any cash. what about that?

trying to clean up my credit but they are making it very hard. If i owe i pay, I don' t owe these how can they do that?

Please advise kinda in a rush since today is sunday lol sorry just found all of this out.;)


In general, payday lending is legal in your state. But if the payday lender is not licensed to operate in your state, then you won't have to pay them any late fees or charges. They won't be able to take any legal actions against you. You'll be liable for paying off only the principal amount only.

Quote:

I had before a store front payday loan and I had to file chap 7 but they keep billing me and it is on my credit report as unpaid . they are also not lic'd in my state.
Didn't your payday loans get discharged in your bankruptcy? You should check your bankruptcy documents and have a word with your bankruptcy attorney. If the loans were discharged, then the status of the account should be reported as closed.

If you've never received the money from the payday lenders, then they can't report it to the credit bureaus. You can dispute the item. You should send a letter to your creditor to remove such inquiries from your credit report. You may even send a dispute letter to the credit bureaus mentioning your situation and request them to remove the negative listing from your credit report.


lrhall41

Submitted by Anna Sweeting on Mon, 04/11/2011 - 03:04

( Posts: 1827 | Credits: )


Well even tho i sent my revoke auth. letter they just debited my acct for 120.00 for fees and rolled my loan over. I had alerted my bank yesterday that i wanted to put a hard debit block on my acct unitl i get there in the morning but i guess no one listened . Now my acct is over drawn 97.00. now what do i do?


lrhall41

Submitted by d.winegar15 on Mon, 04/11/2011 - 04:23

( Posts: 3 | Credits: )


Ok now what i just spoke to my bank and they cant do anything they say until the pending charges are posted to my acct. whats to stop them from debiting my acct again for the remainder of the loan 520.00 since they already have the letter to revoke my authorization? I need help here i dont know what to do, I am unemployed and cant afford the overdraft fees let alone any thing else. any help would be wonderful.


lrhall41

Submitted by d.winegar15 on Mon, 04/11/2011 - 05:38

( Posts: 3 | Credits: )