PDL problems in NC

Yes, they are illeganl in NC, you are only obligated to pay back the principal. You also need to file a complaint against them with your AGs office. Here's the link to your state's pdl laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=NC

Thank you so much! Does anyone have a letter that I can send to my bank and the PDL that will stop this maddness?

This is Polly's template letter to settle with the pdls, just insert your state's pdl lhttp://pollyandsay.yesdebtfree.org/template-letter/aws.

You will either need to put a block on the company from debiting your account or close it and open a new one. Most of us here have ended up having to close the account and open a new one.

I hope to have a wonderful ending to a long and painful store very shortly

You will. This will be over with before you know it! :D

Dixie, I will advise you the same I posted for the other member in similar situation.

You need to call the online banking manager requesting him to stop the pdl place debiting money from your account. He will obtain the important information needed to check your account. Either the lender can be blocked with the company's name or a stop payment will be done. There might be a fee to stop payment on a paper draft.

Dixie, I live in NC also, and am having problems with PDL's. I have one company trying to get me to pay them $1480.00 on a $200 loan. I paid them $200 and them emailed them a settlement letter. 3 days later, they started calling again, and said that if I paid them $200 more, they would mark the acct. PIF. I am not paying them a dime more, instead I am going to report them to the NC AG's office..

I went to the bank today and they were very nice and understanding. They open a new account for me and transferred what little $ I did have over to a new account! :D THANKS TO EVERYONE FOR YOUR ADVISE AND SUPPORT. Now the fun part... dealing with those :twisted: when they try to contact me.

The bank was shocked that this was even happening in this state!

don't laugh... but check out my horoscope for the day! Extra money may come your way today as a reward for work well done. Perhaps you're getting a substantial bonus, or perhaps you are slated for a significant raise. Either way, dear Libra, you're going to be in pretty good shape financially. You're going to be feeling very optimistic about your future, and therefore your relations with others will be warm and congenial. Spend the evening celebrating!

Keep up the work everyone... it can happen to you. I just had one of the PDL mark my account PAID IN FULL!!!!!!!!!!!!

What company did that??

Stand your ground natdust20, keep refusing to pay those crooks another dime, they will cave so long as you stand up to them. You can do it. I wouldn't even sweat them. Keep your $200 they've made enough illegally off of you as it is.

Ok, I still have one outstanding loan and that is to LITTLE LOAN SHOPPE. My loan was for $100.00, I renewed once for $25.00, and I still need to pay $75.00, right??

Yep! Only $75 and you're done with them. Don't let them tell you otherwise. They're illegal in your state. I know I say, "Only $75", I understand that to some people $75 might as well be $75,0000

Magnum: Here is what they said:

Quote:

Correct me if I am wrong, but do they not have to abide by the laws of the state of the consumer?? It really doesn't matter, b/c they are the ones that are commiting fraud. I have already spoke with David Eggers, the NC AG, and filed complaints with him regarding 2 of the companies I had loans with..

They do have to abide by the laws of the state the consumer lives in . . . . Several court cases have already happened and the federal precedent for this is:


"If a business solicits business, accepts business,and continues to transact business with a consumer in another state, the court held that, in fact, the "electronic" business is conducting business in the consumers state, and therefore, is subject to the laws and courts of that state."

The pdl place has to abide by the state laws in which the borrower resides. Many companies oppose this fact because they think about adding their own charges towards the account. This cannot happen because there are laws to prove this fact. And with your complaints already with the AG, you make yourself stronger

Thanks I was actually looking for that. I live in NC, where they are currently ILLEGAL, and they still give them to us..

The PDL's tried to get money from my account again! My bank stopped it for me! NOTE: Stay in touch with your bank, they are there to help you, not hurt you.

I actually had to change banks b/c ny bank allowed them to debit using my ss#??

I hope that you are no longer using the NY bank. I bank at Bank of America and they have been great. Send the letter to the PDL and do not under any circumstances give in to their demands and please, please do not let them have any information about your new checking account.

I wasn't at the NY bank. I actually had a bank through my employer @ a credit union. I opened one that is next to my house now..Did you over pay them too??

Double or better! However, they are off my back now so that I can catch up on other bills.

Congratulations...

Does anyone know retrictions in Tennessee and how do you find out if they are licensed in this state?

Here is what I found, Tennessee 31 days $500 15% of the face amount of the check Tennessee passed statutes specifically authorizing payday lending. The fees and interest rates that payday lenders are permitted to charge amount to very large annual percentage rates. The effective apr for a 14-day $100 loan is 459%.
I got this off of credit.com, and I am not sure how current this is...