California Payday Loans Help

I did some research and this is the actual breakdown

Ignore Speedy Cash - Paid

PayDayOne - Borrowed $250 - Have paid back $300.66 (6 payments of $50.11) and they show me owing 6 more payments of $50.11

Bayside - Borrowed $500 - I have paid them $1513. -- They still have me set up for more payments.

Platinum Cash Link - Borrowed $500 - I have paid them $985. -- They still have me set up for more payments.

Pepper Cash - Borrowed $1000 - I have paid them $700 so far.

Advancemetoday - Borrowed $500 -- I have paid them $995 so far.

Eastside Lenders -- Borrowed $1000 -- I have paid them $775.00.

What should my course of action be with the above PDL companies? From my understanding, CashNetUSA and CashNGo operate legally in California, so I am stuck paying the interest on two $2600 installment loans. I can stomach that if need be, but don't want to be stuck paying more than the principal on the rest of these if at all possible.

Anyone have any guidance? My next payments are due this Friday, so I'd like to jump ahead of this before they can debit my account any longer if I am not responsible for remaining payments.

Step 1 is to close the accounts and submit the ACH Revocation to the Bank and the payday companies. The fine people of the forums should be able to help with the next steps. Also read the other threads the advice is mostly the same.

But my question still stands... which of these companies are operating illegally in California?

And if PayDayOne is licensed in California but charging 459.90% APR versus the max of 459%, does that violate CA laws since they are .90% over?

PayDayOne is licensed as a CSO. This is how they get around the fees/interest. They will offer you an extended payment plan if you ask for it. They'll take your current balance due and divide it into 4 or 5 equal payments due over your next 4 or 5 pay dates. No further interest or fees will be added.

Bayside - I need the full name of this company.

Platinum Cash Link not licensed under this name.

Pepper Cash not licensed under this name.

Advancemetoday not licensed under this name.

Eastside Lenders not licensed.

CashnetUSA and Check 'n Go may work with you on an alternate payment arrangement for your installment loans as well but they're not required to do so.

Follow the steps in my signature link for dealing with your unlicensed lenders.

I too live in CA and was stuck in this payday loan cycle.
With the guidence of this forum I was able to put a stop to it.
I haven't resolved all my loans but I haven't paid anything since Oct 2011.

I dealt with Eastside Lenders and they were very easy. I didn't get a refund but I got a PIF letter with in days of sending my letters.

Advancemetoday.com has been a pain in the butt!.
The Department of Corporations issued them a Desist & Refrain order late last year. You don't have to pay them back anything, not even if you owe on the principel.

Follow the advise here and I'm pretty sure you will be succesful.

So far this is where I am with East Side:

[INDENT]Hello Regan,

Thank you for your response regarding my request. It is greatly appreciated. However, the resolution intended was not reached and furthermore, the information you provided in your response is incorrect as it pertains to the law. As a California resident, I am only legally obligated to fulfill the terms of contracts with lenders who are licensed to conduct business in the State of California, which East Side Lenders is not.

I am not looking to avoid repaying the principal of my loan and as such am fully prepared to do so. However, based on my banking statements and the amounts borrowed, the principal of the loan has already been repaid. I ask that you recognize this and come to an equitable understanding and resolution by acknowledging that my account has been paid in full. Furthermore, any future ACH transactions by your company should not be initiated.

If such a resolution can not be reached, please feel free to have your legal counsel contact me either by e-mail (email address) or phone (phone #) and I will make arrangements for the matter to be handled with my retained attorney. Furthermore, I will make the proper notifications to the attorney generals office of our respective states, as well as the Better Business Bureau and Federal Trade Commission to notify them of your practices.

Sincerely,
JR


On May 11, 2012, at 8:05 AM, Regan R. wrote:



Dear JR,

East Side Lenders is responding to your correspondence regarding the above-captioned account.
East Side Lenders, which is located in Delaware, is licensed by the State of Delaware to make small loans. All such loans are approved and funded in Delaware, with repayment to be made in Delaware. The East Side Lenders loan agreement and website contain all disclosures required by Delaware and federal law and make it clear that all transactions are governed by Delaware law. On the advice of counsel, East Side Lenders maintains that the choice of Delaware law as controlling in the loan documents would be upheld, as all of the significant contacts in the loan transaction occur in Delaware. The loan agreement is legal and enforceable. In responding to your correspondence, East Side Lenders notes and reserves all available legal and equitable objections to the points you have raised.
East Side Lenders provided this service as a convenience to you. We still consider your loan to be outstanding and are prepared to go to arbitration as provided for in the Loan Agreement between us. As an alternative, if you are experiencing financial hardship, we will be happy to speak to you about payment arrangements through which you can successfully meet your payment obligations. East Side Lenders will consider doing so because of our continuing commitment to servicing our customers and not because of a legal obligation to do so.
Should you have any further questions regarding this matter, if you wish to speak about payment arrangements, please contact us at (800) 689-5603.
Sincerely,
Customer Service
East Side Lenders


[/INDENT]

This is where things are at with Advancemetoday:

[INDENT]Hello,

Thank you for your timely response, it is most appreciated. However, your response is not satisfactory as California law does not recognize any such treaties as mentioned nor does Federal Law allow for such "treaties" to supersede California law. I once again request that acknowledgement of my loan as having been paid in full be sent to me via e-mail and acknowledgement that any future ACH transactions from your company will be revoked. Having been a loyal customer for some time, I would appreciate your understanding and consideration toward this matter so that a resolution is reached.

Sincerely,
JR


On May 11, 2012, at 5:35 AM, System Emailer wrote:

Dear JR,

Thank you for contacting us.

Please be aware that this is a St. Vincent company, St Vincent and the United States are both parties to the General Agreement on Trade in Services, a treaty which specifically permits companies in one country to make consumer loans to citizens of the other.

Under the treaty, we are only obligated to follow the federal laws of the United States. We are not required to obtain state licenses and individual state laws do not apply since the federal laws adopting this treaty supersede any state's laws on the subject.

If there is anything else we may do for you do not hesitate to contact us again.

Regards,

Customer Service Department
Advancemetoday.com[/INDENT]

Please advise on any future steps.