Seems pretty hopeless at the moment

I realized I hadn't posted the amounts so here goes

Cash Call - 1500 (now I realize they are not PDL so I might have to work something else out with them or maybe ask Oakview what they intend to do with this one) I have been paying on this one since July and December was my first missed payment.

Geneva Roth - 300 - 90 - 180

Up Front Cash - 400 - 120 - 120

BIG Limited - 300 - 70 - 195 (amount went down $5 every pay period. Paid 3 payments)

Cash Advance Network - 200 - 60 - 120

Keep in mind, my account is now negative over 500 due to these accounts now trying to clear. Tonight they will all be returned and I'm sure the phone calls and emails will begin.... sigh... particularly since I've already tried to work something out with 3 of them, but ended up not having the funds because of all the overdrafts and other loans due to come out at the same time.

i am currently dealing with cash advance network. they are horrible. but from my understanding they are not licensed in any state to lend money, so basically you borrowed 200.00, you have paid 120 in fees, so technically you only owe them 80 dollars. i'm sure somone will be by to explain it alot better. can is the only one on your list i have dealt with. good luck.

alot of people on here dont really care for the payday loan consolidation places but i have started using progressive debt relief to help me consolidate some of my loans. my "counsler" was really cool. so far it seems to be panning out. check out there website if you are interested.

Thanks again to those who are replying, but I can't help but notice not a single forum moderator has bothered with my post. I thought help came no matter what, from this place.

I see a lot of posts being replied to other than mine, but the moderators of this forum. I understand if you feel my situation is hopeless, but can someone please at least let me know something one way or another? I appreciate those of you who have at least acknowledged me. Thanks again.

Alabama State Information

Quote:

Please check to see if the companies you are doing business with are licensed in your state. The most important step to take is securing your bank account so it cannot be debited by the illegal pdl's and making arrangements with the legal ones. When I get time I will try and help you check to see who is licensed.

Date:

Name Of PDL

Your Name
City, State
Account #


After doing research regarding Internet payday loan laws in the State of _______, I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of _____ in general:

Your State Information (copy and paste state law here)

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the XXXXXX to protect my interest in this matter, per instructions from The _____ Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed in the state of ____ to be a legal and binding contract, your company should NOT issue loans to ____ residents at all. I am requesting that you send me your license number which enables you to offer loans to ____ residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the ____ Attorney General's Office.

I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,

Your Name
CC:
Better Business Bureau
Ohio Attorney General
Federal Trade Commission


THIS IS THE LETTER YOU CAN EMAIL TO ALL YOUR ILLEGAL PDL'S

Thanks for the information. Now since my account can't be closed at the moment, due to the PDL's acting too quickly to submit a new transaction, should I still send this letter to them which states that my account is closed?

Also, about my bank situation and their unwillingness to put a hard hold or freeze on transactions... right now, the account is -409 after all fees added and new posts posted that will soon be returned. My shared account with my mother has about 400 in it so I can't even bring account to 0 balance at the time. There is an insurance check that we deposited into my mother's account they the bank is holding for 11 days because it's from an out of town bank. The insurance check is worth 808 dollars. Can I close the account that I share with my mother with that check still on hold? Will they just keep the money or mail it to me? OR maybe use it to pay overdraft fees from other account? (I know this is a real mess and I'm just going nuts over this) And can I really open a new account at another bank with this account at my current bank (Regions Bank, btw) being negative?

I looked on the http://www.bank.state.al.us/ and did searches for all my loans, even Cash Call.

Again I searched for lisences for these companies...

Geneva Roth
BIG Limited
Cash Advance Network
Up Front Cash
Cash Call

NONE of these came up in the system. I also searched the one I had with a store front pdl but it came up, of course. Should I assume that means none of these people are legal in my state, even Cash Call? Or am I getting too far ahead of myself?

[quote]Loans with built-in renewals: If your online payday loan has built-in loan renewals, the lender cannot require you to pay electronically under the Electronic Fund Transfer Act (EFTA at 15 U.S.C. 1693a(9)). You have the right both to stop payment on a specific withdrawal and to revoke authorization for all future withdrawals by a lender. In both cases, the bank can impose its stop payment fee.

For a loan with built-in renewals, to stop an individual withdrawal, you must notify your bank orally or in writing at least three business days before the transfer is scheduled. The bank may ask you to also give them a written confirmation of the stop payment order within fourteen days of the oral notification. If you fail to provide the written confirmation, the stop payment expires at the end of fourteen days.

In addition, if you notify the bank that your debit authorization is no longer valid, the bank must block the next withdrawal as well as all future payments for the specific debit sent by the online lender.

To stop future electronic withdrawals, write a letter to the payday lender that it is no longer authorized to debit your account. Make a copy of your letter to give to your bank.

Your bank may ask you to confirm that you have notified your lender that you no longer authorize the payments to be automatically debited from your account. Write a letter to your bank to give written notification within 14 days of your oral notice to the bank. Otherwise the bank may honor subsequent debits to the account. Check your bank statements and report any unauthorized withdrawals from your account to your bank.


PRESENT THIS TO YOUR BANK THEY MAY NOT BE ABLE TO CLOSE YOUR ACCOUNT BECAUSE IT IS NEGATIVE BUT THEY MUST COMPLY WITH THIS ACT. HAND DELIVER IT TO THEM. ONCE YOU DO THAT YOU CAN NOTIFY YOUR ILLEGAL LENDERS THAT YOU ARE REVOKING ACH AUTHORIZATION.

LOOK AT YOUR LOAN DOCUMENTS FOR THE NAME OF EACH LENDER AND THEIR DBA'S AND COMPARE IT TO THE LICENSEE DATA BASE FOR YOUR STATE. I THINK MOST OF YOURS ARE ILLEGAL, I KNOW CASH ADVANCE NETWORK IS NOT LICENSED ANYWHERE.[quote][/quote]

If you have any doubt you should contact the department that overseas financial institutions they will be able to tell you if they are legal or not.

kfstaff24 , I wish it was that simple. Honestly. I did that with all my loans in 2007, and my credit union refused to close my account and racked up NSF fees, and have refused to remove me from Chex Systems.

I even called every two weeks and I got the "Sorry your account is negative and there is nothing we can" by the time they finally closed my account it was over 700. I've complained to everyone I can honestly think of, and no one refuses to do anything, even though I presented them with the letters/copies of all correspondes etc.

I'm currently in contact with a Lawyer and planning on suing my Credit Union. I'm actually waiting for a response from the Secretary of Department of Financial Inst before going further in suing my Credit Union on the advice of my lawyer.I should add, that Our Department of Financial Inst is doing a great job with one of my storefront pdl's, so i'm not including that one in my suit.

http://www.paydayloaninfo.org/chelp.cfm#11

Here is the link for consumer help.

FDIC institutions must comply.

kfstaff24 , again I *DID* all that. They refused to accept the ach letters I wrote my payday lenders since the account was already negative. They refused to close my account period, therefore racking NSF fees. Which is why i'm in conact with a Lawyer/Secretary of Department of Financial Inst.

Nope since my bank was a Credit Union, FDIC is not doing anything, neither is NCUA, OCC, nor the Director of Credit Unions.

Should also add that neither is Federal Reserve.

Electronic Fund Transfer Act (EFTA at 15 U.S.C. 1693a(9)). You have the right both to stop payment on a specific withdrawal and to revoke authorization for all future withdrawals by a lender. In both cases, the bank can impose its stop payment fee.

Well then they are in violation of The Electronic Funds Transfer Act

Beli2005 What works for some may not work for others. I am sorry none of this worked for you however, it did work for me and I just wanted to share the information. Good luck with your law suit.

Kfstaff, I know.. and thanks.. i did send that information to the Director.. So we'll see if she has the "You'll need to go back to the payday loans and DFI" attitude again. Thankfully I have been keeping all correspondses.

Well, I went into the bank with revoking letters to all my loan companies. I explained that I am no longer authorizing them to debit my account. They still tell me they can not do a hard block or freeze on my account because I did give these companies my account information. They still say I need to pay the $36 per stop payment fee in order to stop payments even though I now owe them almost $300 more dollars in overdraft charges for the last round of debits that were returned. *sigh*

By the way, does anyone have email information or real address information for BIG Limited, Geneva Roth and Up Front Cash? I have phone numbers for all of them, but I don't want to talk to them, I just want to send them the letters for revoking their authorization to debit my account. At least I want to be able to say I followed proper steps.

Well, I contacted a Ms. Arlene Baldwin at the State of Alabama State Banking Department and she informed me that NONE of my online PDL's is legal in this state. In particularly Geneva Roth and Cash Advance Network. So I have put stop payments on Cash Advance and Geneva Roth as well as put ACH debit blocks on them. My bank is now working with me now and will help me keep an eye out for anything that even looks similar to these companies trying to pull. I have sent a letter to both revoking their authorization to debit my account and I've filed a complaint, per Ms. Baldwin's instructions, on both CAN and Geneva. So far, no calls from either, but I'm sure I'll hear from them. She wants me to keep her updated on any harrassment that might occur. My bank has also agreed that if Geneva or CAN tries to pull again, past the ACH blocks on them, I will be given any NSF fee back! THANK YOU JESUS is all I can say about this!! I can now relax...

As for the other loans, I actually was able to negotiate with them simply be mentioning Ms. Baldwin's name! Even Cash Call! They are not even charging me a returned payment fee for this month's payment and they say I can mail it in!! HA!! This is so wonderful, I can't begin to tell you! On top of that, I got a call about an extra job this weekend to make some extra money with I really needed. I think God heard my prayers. Thank you JESUS and everyone hear who helped me go to the right places. Thank you so much!!!