I have the paydayloan they are eatting up my finance

They are illegal in PA, BUT if the pdl lender is licensedi n their state then they can lend to you but they have to follow PA interest caps. You are only obligated to pay $9.50 per $100 borrowed, follow the same steps I explained to laverne. You can tell your bank that you lost your ATM card, lost your wallet, purse, if you want to tell them anything other than the mess you got yourself into. But they should let you open a new account or you may need to go to another bank to open a new account, some people have had to do this. I was honest with my bank about my internet pdl mess, they allowed me to close one account and open a new one.

how do I find out if my loan companies are licensed in the state of PA? I have loans with Cash Transfer Centers, Impact Financial, Cash Today, Cashnet, Payday OK and Cash central. Should I send the the letter from polly's blog? How do I keep them from caling me or trying to garnish my wages? Can I ask them to contact me via email only?

None of them are licensed to loan in your state, PA prohibits pdls. However, they are licensed in their state, so they can lend to you, but they are violating PA's interest cap laws. Yes, use Polly's template letter. I know that Cash Transfer Center has a voluntary wage assignment claus in their contracts, you need to write them a letter, and e-mail, fax, and mail it to them revoking your authorizaiton to voluntary garnish your paycheck, and do it ASAP, also, you will need to provide your employer with a copy of this letter, even though it is embarassing, I would rather be embarassed temporarily than out of my entire paycheck. They will garnish for the full amount in one lump sum. I think in Polly's letter she has it in their they are to cease and desist phone contact. You can request no phone calls, but because they are the original creditor they do not have to abide by that request, some do however abide by it.

Thanks for the help Steelers. Just so I'm clear on what I need to do, I'm a step by step person so I just want to make sure that I have it listed correctly because I am going to try to complete all of the steps today.
1) close and open a new bank account
2) send the letter to all of the loan companies using Polly's letter. Do I need to add anything or take anything out to deal with the PA laws and the authorization to garnish my paychecK?
3) several of the loans are in my husbands name and he is in the military, do I need to do anything differently for that?
4) do I offer to make payment arrangements since they are in violotion of the PA laws?
5) do I file a complaint with the PA AG? do I need to give the pdls a copy of the complaint.

Anything that I'm missing.

This website is SO helpful. Thanks so much for your guidance and direction. I just want this to end immediately, but it sounds like it takes a while, is that true? Or do you feel immediate relief after you complete the steps above. (sorry this was so long)

Yes, to everything, you DEFINATELY need to get those complaints in to the AG's office. And the Dept. of Defense worked with Congress on passing a new bill recently regarding payday loans and military members and their families. You should mention this in your complaint with the AG that your husband is in the military. You just need to add at the end of the letter that you are informing them that you filed an official complaint with the PA Ag's office, the AG's office will notify each company that they are in receipt of a complaint and will have them respond.
I felt relief from the moment I opened a new account, and my internet pdls started marking me paid in full within one week. Most did it the day they were contacted by my AGs office. But be prepared some might be jerks and you will just have to stand your ground with them.

i have a loan with cash tranfer centers for 700 dollars and cashnet usa for 750 can the garnish my waages? i need to know before i close my accounts who else have an i have ics, gfsil, cash centers premier processing,cash advancenetwork,payday select xtra cash
cash net usa ameriloan, its my payday, timber hillx2 300 dollars apiece,paycheck today,gentle investment x2 for 250 apiece pay checknow2 for loo dollars,which took out 25 dollars for 4 tmes on the fifth time they took out 35, 31.50 so that is totallyl66.oo so i haave paid them out plus a little. all fo the companies have gotten over their amounts. the one for 300 90 dollars every two weeks from may is1080 dollars and still climing. so which companies can garnish and sue i need to know i dont want my check garnish what to do i will start my stuff on tuesday nov.28th. now on decl i have gfsil withdrawing 79, ics on the 27th 89. hopely i cn stop them do you think i have a prayer anyone who can answer these questions i can i add up what i have paid for each of the companies without call them and making them suspious of what i am doing?

laverne--
I don't know what state you are in, but cashnet usa is licensed in some states. They go by the name "check giant" in the state of Ohio.

i am in illnois now i a getting sad again what happens if they are licensed in your state

let at my last request and tell what to do i can go in the chat room with you guys if you like.

Laverene, re-read through this post, your questions should have been answered. None of these internet pdls are licensed in your state. Follow the steps given and you will be fine.

one of the people told me cashnet was licensed and you said yourself cash transfer center may have their own wage assignment sheets. can we go to the chat room i can get on now.

can we chat about whaat to do wit cash tranfers center and cash net they both the rest i may be cool with.

is there an experince person out there that can chat with me in the chat room?

laverne go to www.ila.gov and look up: 815 ILCS 122, this should help you better understand IL pdl laws and insert that into your settlement letters.

Laverne, calm down a minute and take a deep breath.

First, don't worry about the internet ones for now; they are not legal to operate in Illinois. You can deal with them but you don't have to do it right this minute because they can't do anything to you.

What you need to worry about is the storefront one; they are legal. What company is it? Look at your contract and see how many months they gave you to pay it back; that way I can tell if they are operating under the CILA or PLRA laws.

If you are worried about a wage assignment, send a letter to any company who you signed one with, and use the following format:

Quote:

Debtcruncher - all of my loans are with internet companies and I live in PA. Should I use the same format as above? Also, do you recommend closing my current bank account and opening another one? Can I just have the bank block those companies?

Yes, cojame_2000, you can use the format for your wage revokations. You can have the bank block these companies, but they go by so many different names it is almost impossible to list all of them on the block, they may also attempt to present a check to your bank. My bank went ahead and closed my account and opened a new one for this very reason.

The Credit Practices Rule is a federal law, so the revocation letter can work in any state. If you like, you can CC a copy to your payroll office just in case the paydays try to say they never got your revocation.

Putting a block on individual companies can cost you $25 a pop. Besides, they have a million names they use and they will just at your account from a different company that is not blocked.

You might try asking your bank if you can put a freeze on all automated withdrawals. If they don't let you do this, close the account and get a new one.

thanks - I didn't think about all of the other names. I am worried about my direct deposit from my job. I guess I have to see if the bank can transfer it from the closed account to the new one. It takes my job forever to change that and since my husband is military, who knows long that will take to change. Did you have to worry about that when you changed your account?

thanks for the advice i have one that a store front i have 12 months or 18 i think to pay them back. the rest are all internet now can cash transfer do something or cash netusa i was told they could i will send the letter to them. i dont know all the addresses though, i am starting with them tuesday i know i will have a rough time but i will start now

What my bank did when my account first closed was to automatically redirect my deposit to my savings since the account was closed, I had no problem getting my check and what I did was wait two days before transferring the funds because I was paranoid they would get to my new account, which they didn't, that gave my employer time to send the direct deposit to the new account.

1) The IL Dept of Financial Institutions lists all licensees on their website http://www.idfpr.com/dfi/ccd/ccd_main.asp . Cash Transfer and CashNetUsa are not licensed in IL as a finance company. Which means they would be an illegal operation. They will threaten you, but that is about the extent of what they can do to you.

2) The storefront loan at 12/18 months really is not a "payday" loan by definition. It is an "installment" loan and falls under the scope of the Consumer Installment Loan Act. You really need to find a way to tackle this one, because they have an effective recourse if you do not take care of their loan.

it is a n installment loan so what do you recommend i do for this just keep paying it or what should i do,so i dont have to worry about those two they are the highest of all of them. what about ameriloan and its my payday

laverne--

I didn't say that CashnetUSA was licensed in your state. I had said that they are licensed in my state which is Ohio, and in my state, they are licensed under the name "Check Giant." The reason I know this is b/c I looked through the licensee database for Ohio and typed in cashnetusa and it popped up that they are licensed under the name "check giant."

debt churcher or you there i asked another question

brown sugar can we go to the chat room or are you bussy

DebtCruncher and anyone else who is interested, please visit the following website and don't forget to add the www:

cashnetusa.com/fee-schedule-illinois.html

Cashnet USA is in fact licensed in the state of Illinois. I also read on the webpage that if you are unable to repay the loan in the allowable time frame permitted by Illinois law, that you are allowed to enter into a repayment plan. Laverne, this is especially important for you to read as this pertains to you specifically. For anyone else in another state who has a loan with them, if you visit their home page, you can follow the links to your state laws as well.

One last, then I have to go. ameriloan is licensed; I have never heard of Its My Payday.

What are your balances? If you make the payments as stated on the contract, you would be set to pay it off in 12/18 months (except if you are in the habit of making late payments).

The problem is they charge simple interest (daily accrual). If you make late or partial payments, the interest keeps adding up to a point where none of yur payment touches the principle.

You need to make sure that when you make a payment, you are at least paying for the accrued interest to date. Anything else you give them brings down your principle.

I have been saying that CashNetUsa is licensed to lend in the states they loan to consumers. They will even display that consumer's state's license when you click on the state you reside in and show the pdl laws for that state. If your state allows roll overs then CashNetUsa will allow you to roll over your loan. I live in OH and I had a loan with them, and I had to pay by the next pay period, which I did. They even gave me a discount for the loan because I paid it off 2 days early, so I paid under the interest rate allowed by OH. They didn't have to give me a discount, it was their policy to do so.

Laverne--
This is for you. It is from CashnetUSA's website which states they are licensed in your state. It also talks about a repayment plan. Read it carefully :D

Quote:

I have a loan with cashnet as well. they don't have a license on their PA page as they do for IL. Does that mean that they are not licesend in PA? they also don't have anythin about a repayment plan.

That is a great question. PA does not allow lenders to obtain licenses in their state however, if the lending company is licensed elsewhere, those laws of their home state must be followed. You should call CashnetUSA and find out what state laws your loan falls under. Will you let us know what they tell you?

Cojames_2000--

Quote:

so you are saying what to the licensed companies can they sue me take me to court garnish my wages, what to do i need the counselor to hurry and call me so i guess all the payday loans i have are legal huh so i guess i am in a mess i dont know how to get out right now i need to pay my gas light morgage,right now then i will guess i will make a arrangement with thes companies till i pay them off. thinks rach for the tip so i am back to square one, dont know how to do this by dec 8th..

Rach and Brownsugar are right, CashNetUsa only has to be licensed in their state to loan to PA residents. (Even though they are prohibited in PA, this really only means that you won't find any storefronts in PA)

do I follow the same process for them as the other loan companies and send the letter from Polly's blog?

You can do this, but CashNetUsa usually follows the law. You can contact them and make payment arrangements, treat them as you would a storefront.

I don't think that would be in your best interest to do that. Polly's letter is intended for unlicensed companies. You would probably get a better result by simply calling Cashnet USA to work out a repayment plan.

how do I know if they should apply to the other payday loan lenders that I have. Should I send them all the letter (except cashnet). With cashnet, should I offer them arrangements? how small will they go?

Cashnet isn't doing business right now in the states of Florida, Indiana, and Michigan, but their website says they will be soon.

I will contact Cashnet directly. Do they have to accept the payment plan that you offer? Can you send the payments in instead of having them debit them directly?

Also, for the other online loans, should I use the letter for them and file a complaint with the AG? Also should I file a complaint with the AG for Cashnet as well?

I am planning to do this starting to tomorrow so I want to make sure that I am following the proper process so that I don't have any legal issues with any of the companies.

The list of companies are:
Cashnet
Cash Central
Cash Transfer Center
Payday OK
Impact Cash

Demand a physical address to mail money orders should you still owe anything on the principal amount borrowed. DO NOT GIVE OUT YOUR ACCOUNT INFO. TELL THEM YOU NO LONGER HAVE A CHECKING ACCT. And do not send it Moneygram or Western Union, tell them if they want paid it will be by money order only. And as for CashNet, I would not file a complaint with the AGs office against them, they are operating according to the law.

Steelers - do I assume that the other companies are not legal so I should send the letter, correct? I should not owe them anything additional, correct?

i dont know what to do who to beleive i dont want trouble with anyone i need to get back on track i have a lot of debt and bills i was ok till rach can on now i dont know what to do should i wait till they find out they cant pull anything out and then make a deal or will they just take action immediately along with the rest of them i owe a lot. the one that rolls over i problem will be through with them so help tell me what to do cring.

That is up to you laverne. But I'm not sure what Rach said that would make you think anything otherwise. Other than for residents in PA and the pdl law in PA.

steelers - did you see my last post to you? did you just send the letter to all of the companies that you were working with? Did you have any trouble once they received the letter and the complaint from teh AG? Also, how long does it take the AG to contact them?

Sorry, I didn't see it. For all the other internet pdls, you should send the settlement letters. I had no problems with them once my AGs office received the complaints and notified them. As for how long it takes for the AGs office to act on them, that depends, I don't know how quick they are to respond in your state, I'm in OH. I filed my complaints online which meant they got them the next morning and took action. So OH's AG office is pretty quick to respond.

the topic is pdls i made alot of money but pdl loans act my check up i have none now. i just want to know if i block how long and what tacked will the use. i get paid again on the 8th of dec. i have rent,gas ride,birthday club, cable, loan due not pdl. if they dont withdraw i will be streght. then i can make payment if they dont try to take the money by garnisment. i can work it out. i hope my bank will work with me they talk out of the side of there head, so who have dealt with pdl actionly close there account and how did it come out, this is what i need to know i am an illnios resident, i need someone to tell me what to do that had pdls and how they dealt with them ok.

Everyone who has responded to your questions has been through this. That is why we are giving you advice, based on what we have done and what has worked with us. Re-read through the threads that you started, the answers will be there. You need to take a deep breath and relax. Re-read the responses to your threads.

but as soon as i think things are ok someone else comes on with another stumbling block i want to stop them for now but dont need any problems that rights are so little pdls alway make you agree to there terms and conditions, so this may cause a problem this is why iam paning right now i am going through with closing and freezing my account, but i dont want big cheese like cashnetusa snd cash center,fsm etc comming causing problems/