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Date: Tue, 10/06/2009 - 08:01

Submitted by jsennett621
on Tue, 10/06/2009 - 08:01

Posts: 17 Credits: [Donate]

Total Replies: 7


I have been stuck in this PDL cycle & I just can't make these payments; are there any I can get of, or at least the interest & just pay principle, BUT NOT bi-weekly out of my account????? Maybe they are illegal????I'm in Michigan. I want to close my bank account today, I bank with Bank of America. are they a bank that re-opens for ARC debits, cause those fee's alone would put me under?????
this is what I have out there.
lender bi-wkly fee Loan Balance Paid Next Due Date
Instacash 60 200 260 extended -9-Oct
Kenwood LLC 75 250 325 extended-9-Oct
LoanPointUSA 150 300 500 extended-9-Oct
OneClickCash 105 350 455 extended -9-Oct
ssm group 60 200? ? extended -9-Oct
cardinal cash 75 250 325 extended -16-Oct
US fast Cash 90 250? ? extended -16-Oct

PLEASE HELP ASAP!!


I've read where other members have had problems in this area with BOA. The link below contains your payday loan laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=MI
Click the link below for the licensee data base, just type in the name of the lender to see if they are licensed, if you find no license, then they are illegal (I can see at first glance that most of yours are unlicensed).
http://www.dleg.state.mi.us/fis/ind_srch/ConsumerFinance/Search.asp
CLICK HERE to find out how to deal with illegal lenders.


lrhall41

Submitted by Shazzers on Tue, 10/06/2009 - 08:07

( Posts: 17344 | Credits: )


Shazzers, I read the laws & checked the list, and only Instant Cast is a MI company. What does that mean for the rest????? Can I close my bank account??? How much do I have to pay the companies that are not Michigan companies.
And can I jsut call these paople or so I have to write to them??? I don't want them taking from my account this Friday----its like $400- I only bring hom $550-!!!


lrhall41

Submitted by jsennett621 on Tue, 10/06/2009 - 08:52

( Posts: 17 | Credits: )


Quote:

Originally Posted by jsennett621
Shazzers, I read the laws & checked the list, and only Instant Cast is a MI company. What does that mean for the rest????? Can I close my bank account??? How much do I have to pay the companies that are not Michigan companies.
And can I jsut call these paople or so I have to write to them??? I don't want them taking from my account this Friday----its like $400- I only bring hom $550-!!!


Absolutely close your account. Ask Instant Cash if they will allow you to pay this back with an EPP (Extended payment plan), I'm sure since they are a legit company they will do something to help you out. I would send them an email, or certified letter to let them know you had to close your account due to fraudulent activity, and do NOT give them your new account number, tell them you no longer have an account and will need to make payments to them with money orders via the mail. Just don't give them your new account number. Was there a pre-dated check written to Instant Cash?


lrhall41

Submitted by Shazzers on Tue, 10/06/2009 - 08:58

( Posts: 17344 | Credits: )


Instacash--loan 200---paid 120 in interest
Kenwood LLC--loan 250---paid 150 in interest
LoanPointUSA--loan 500---paid 840 in interest
OneClickCash--loan 350---paid 105 in interest
ssm group--loan 200---paid 360 in interest
cardinal cash--loan--250--paid 225 in interest
US fast Cash--loan 250---paid 270 in interst


lrhall41

Submitted by jsennett621 on Tue, 10/06/2009 - 10:34

( Posts: 17 | Credits: )


http://www.debtconsolidationcare.com/forums/showthread.php?p=480750#post480750

this is also me----if you're responding on that post....jsut come here to post a reply, please & thanks.

sorry for the confusion.......both popped up once i registered.

Please try to refrain from making multiple posts about a single subject - Jason


lrhall41

Submitted by jsennett621 on Tue, 10/06/2009 - 11:01

( Posts: 17 | Credits: )