Payday Loan Mess

I have also fallen into the payday loan mess. I had nine going for a while and now I have only three left.
I was wondering if anyone knows how to find out if they are licensed in MN?

I see that my question was answered already.
This is a very helpful site I really appreciate all the help!

Thanks goodah2424 found the answer you posted, so I am SOL, thats ok, I will pay them just not in their time frame.

Does anyone know anything about KIMBERLY CREDIT CORPORATION. Are they upfront and honest? I don't want to get into a bigger mess.

I've never heard of this company. Is it a credit counseling service or debt consolidation company?

It is a debt consolidation company. I keep getting emails saying I have been accepted into their program, but i never applied to them.

I wouldn't do business with anyone sending unsolicited emails.

ok,what exactly does it mean if a payday loan company isn't licensed in my state. Is that company in trouble for loaning in that state, or am I in trouble for not knowing that and taking a loan from them?

Quote:

You are not in trouble . . . . When you walk into a business do you ask them to see their license? No, you assume that they are doing business legally.

In Oregon specifically, that means that they shouldn't be loaning money without a license. If you still have your contract you can report them to the Oregon Banking Authority. The supervising examiner actually called one pdl on my behalf and told them they were operating illegally. Unfortunatly it was one of the pdl's that doesn't care at all, so they still refused to mark me PIF, but they have left me alone and not sent me anything or called me at all since then.

Here is the number for them. When I called I was put through to Charles Donald, and he opened an investigation into the PDL I reported.



You also need to write letters to each pdl and tell them that your loan should be marked PIF (as long as you've paid back the principle amount) because they are unlicensed in Oregon. They will try to use the "You agreed to be under the laws of such and such state in your contract." But the law is unclear when it comes to choice of law contracts and it leans very much to the side of the consumer.

I live in Oregon, and I have been looking at the laws,but it is so confusing, and I don't understand it.

What do you need help with? I know them pretty well for OR . . . .

I am not sure if I have the contract.I didn't print them off, because I thought I would pay them off, and be done with them. Boy was I wrong. On ameriloan The loan was taken out on 11/14/2006. I paid 90.00 every two weeks, for a while, then it was 90.00 plus 50.00. Here it is feb 2007, and they say I still owe money.

I believe that for the unlicensed companies, you will only be required to pay the principal amount. As long as the licensed companies are following the lending laws, you will be required to pay the full amount. When goudah comes on, I'm sure you'll be able to get a more definative answer.

Make sure you file complaints (maybe even call some local representatives, too). The more complaints recieved, the more active regulatory agencies will be in stopping this predation.

Hi Goudah. I just want to be clear on the laws before I start sending out letters. If they send back responses, i want to know how to handle them, and know what to say to them. I am not a very outspoken person, and I just hope I have the courage and strength to deal with them on my own.

Yes, they cannot require you to pay interest on illegal loans. Technically, they can't require you to pay anything back if they are licensed in OR, but that wouldn't make you any better then they are.

One thing that may work for some of them is call them and tell them that you lost your contract and would like them to email/fax/mail you a copy. Some will as long as you call the customer service number.

Unfortunatly, they have to have the contract to investigate. That's the best proof that the company is loaning money without a license.

In Oregon, the gov. made pdl's a huge priority a year or two ago. They passed much stonger laws limiting the interest rate and all that. But they don't go into affect until June 2007. So they have already taken steps to limit things here, it's just to late for us.

Have you written any letters to any if the pdl's yet? That should be the first step, after closing your bank account.

yes, I have written to the ones like ameriloan, that we have more than paid off. Money wordl lending has gotten two payments in the amount of 180.00 total. The original loan amount was 300.00. We defaulted, and now they say we owe 610.00

The important parts are as follows:

They must be licensed to lend in Oregon. If they don't have a license they are not operating legally.

They will all say this isn't true, but the fact is why would other out of state pdl's bother spending the money to get a license if they didn't have to? They wouldn't!

Most states also have long arm statutes. That means that if a business solicits busines, accepts business, and continues to transact business with a consumer in antoher state, in fact, the "electronic" business is conducting business in the consumers state, and therefore, is subject to the laws and courts of that state.

And you aren't in this alone. If you recieve a letter back from any of them, just post it here and we can help you come up with a good response.

Quote:

Swoody ~ you will be surprise at how much strength and courage you have, especially with a support group like what is on here. Knowledge can give one a lot of strength and courage. Like Goudah said, you are not alone. Hang in there!!!

What can I do to fix this?

What do you mean fix this?

This pay day loan mess I am in?

What is the worst that can happen if I do not pay right away?

Quote:

I answered you question in your thread, if you want to go there . . . . That way things don't get confusing.

this company, under many names, has been ordered to cease and dismiss. It is not licensed in the state of Nevada. Nor is it licensed in the state that i reside. I want to pay back what i owe, but they say they will refuse a money order. I will not give them any information of any bank account. I cannot afford to send them a money gram which costs 35 dollars on top of what they say i owe them.

If you can find their address, just send them the MO. Keep proof, and send the letter certified. Many companies say they won't accept MO's, but when sent one, they are not going to give it back, they are going to cash it! Just make sure everything is well documented.

Ok guys, i have sent out the revoke letters, and have gotten two threatening phone calls today. One at work, and just now at home. Even after i sent cash Transfer centers the revoke letter, they have contacted the payroll department. I was so embarrassed. The other company is 1800899cash.com. When I told him I could not talk with him while at work, he said " I better get a call by 5:00 tonight or else. Neither one of these companies are licensed in the state of Oregon. Any suggestions?

Yes, first off you may want to consider telling your payroll dept your situation. Maybe not the whole story, but tell them you had an emergency and took out a pdl, and now they are harrassing you even though you don't owe them anything.

Also, you have to prepare yourself for these phone calls. They will keep coming. That is the main tactic of these companies. They will harrass, embarrass, and threaten you into paying, since they can't collect any other way. Be strong, don't get intimitaded by them. Also, I'd start telling them you are recording the conversation, even if you aren't. That may stop some of the threats.

If they say the police will be there is 15 minutes to arrest you if you don't pay now, ask them to hold, then come back on this line and tell them your uncle is the sherrif, and you just called and asked him if there really was a warrent out for your arrest. Of course there isn't, and tell them that once you get off the phone you will be filing charges of harrassment against them. Tell them they should be watching for the cops themselves.

Just know that they can't do anything to you. They are lying. At 5pm nothing is going to happen, except this guy will probably get off work. There is no debtors prision, they are very unlikely to sue you, and even if they did they would lose. They can't assign your wages, since it is illegal in Oregon. All they can do is harrass you.

Do you answer the phone at work or does someone else?

This is where knowledge is a good weapon. When they start harrassing you, just tell them that you are aware of all the tatics they will try to use and you are not afraid of them and not worried about the police coming or anything like that. Be firm with them and hold your ground. When we got our loans, we use my cell phone as our "home" number and when calls come in that I don't recognize the number or it shows up private, I let it go to voice mail and then I save it. I don't call them back or nothing. We were told to call Route66 back within the hour or else, and look, I am still here and so is my husband and the "or else" was just a threat. Hang in there and be strong!!! If you answer the phone at work and somebody ask for you, turn around and ask who is calling and in reference to.... that is what I do now, unless I recognize the caller. It is a little embarrassing to tell your boss and payroll, but hey, everyone makes mistakes and you would be surprised how many understand and maybe how many are in the same boat. Found out my boss has been there and his mother is in SC and she is having problems and in a vicious circle there. Her's are all store fronts. She pays one off and borrows more so her check won't bounce. I have been passing info onto my boss and his wife so they can help his mother out. But it will be ok!

It all depends who hears the phone first. My boss is the payroll department, but she is cool, and I know she will understand. So, just to get this straight, If I am in Oregon, and they are not licensed in Oregon, what does that mean. Cash transfeer centers told me it was fine for them to loan to us in oregon. I said "you don't have a license in Oregon", and she said it didn't matter.


MARK-
Dear PAYROLL/HR*Elsie
This correspondence is being sent to you with regard to a loan that your employee, MARK, has obtained from
CashTransferCenters.com. This loan is currently outstanding.
We would like to confirm a few pieces of information provided to us by , so that further assistance can
be provided to him/her in resolving this matter. In the event that is unwilling to voluntarily resolve this
outstanding issue, we will be forced to take further action which may require additional assistance from this payroll
department.
To assist in preventing this matter from escalating further, we are requesting confirmation of the following information:
Is MARK????????s SSN listed as ?
Is MARK????????s position listed as a Truck Driver?
Is your mailing address , , , , ?
Was MARK????????s last pay day on February 23, 2007?
PAYROLL/HR*Elsie , given the importance and urgency of this matter, we look forward to receiving your
response to the toll free number referenced below. Please note, however, that any contact between your employee and
CashTransferCenters.com with regard to this issue must be conducted via telephone at the number referenced below so
that important information regarding resolution of this outstanding issue can be provided directly to MARK.
Thank you in advance for your assistance and cooperation in resolving this matter.
Sincerely,
Derek Adams
1 866 364 6859
cc: MARK
*Northway Financial Corporation Ltd. is licensed by the MFSA to provide lending services under the Financial Institution Act 1994.
Credit Granting Institution:
Northway Financial Corporation Ltd.
of Level 8 Suite Plaza Commercial Centre
Bisazza Street Sliema SLM 15 Malta
Loan Number: 29509018
Loan Repayment Date: February 23, 2007
Customer Name: MARK
SSN:
Total Due as of March 1, 2007: $283.00


This is the email they sent to my husbands payroll department today, even aftergetting the revoke letter. I am very nervous about this.

Removed personal information-Michele

also,does anyone have a real address for these people. I can't find an actual address with a zipcode

Swoody--

You shouldn't post your personal info b/c this is a public forum.

Can a moderator please edit his info?

You should go back and edit your post so that you personal information in not there because you never know who is reading this. It is for your protection.

Sorry, didn't realize. I'm not having the best day.

That is ok, we all have bad days...heck I have one everyday! LOL Well Monday thru Thursday anyway and Friday until 4:30, then it is better. But do go back and read your emails where you posted the letter that was sent to your husband's payroll department and change any person information (SS#'s, place of employment, etc) to maybe XXX or something like that. It is better to be safe than sorry. And I hope you have a better day tomorrow.

Ok how do I edit, it says I can't edit post that have been replied to.

A moderator will come along and remove it. I sent a couple of PM's to the mods of this forum.

Hmmm, maybe one of the moderators or someone can help you with that. I don't know why you couldn't edit your own posts. Can someone help???

Thanks Brownsugar. I am sure she appreciates it.

Thank you so much. that was a stupid move on my part. I just can't beleive these people. i want to pay what i owe,but I just can't pay the way they want me to. I feel like an idiot because i didn't realize these people weren't licensed in my state. I was desperate at the time, and i guess either they didn't say so,or I didn't pay close enough attention.

It should be fixed now. I've removed the personal information.

Take the rest of the night off and relax. I am sure I will be on here tomorrow. Now it is time to let the wet dogs in and call it a night. Prayers and dreams to all of a debt free World! Good night.

swoody,

First of all, let me personally welcome you to the forums. Secondly, take a deep breath and try to relax. I have dealt with Sonic myself and I know how difficult they can be. They sent the same notice to my boss when I defaulted with them in 2005. They should not be disclosing this information to someone like this. How much have you paid on this loan?

I removed the duplicate postings as well. This was to protect your personal info.

Thank you so much for removing that. If they have been sent the revoke letter, and wage assignment is illegal in Oregon, can they legaly send out emails like that. also, the woman that this email was sent to wanted to know how they got her name and email. From what she told me, not alot of people know that email address. Not even the employees. So, how did they get that. My husband and I certainly didn't know it. Any idea what there next move might be. I did try to be firm and stand up to them, but I'm not sure it did me any good. They say it was perfectly ok for them to be in deleware, and loan to me in Oregon, even though they don't have a license in Oregon.

Swoody ~ I hope that you are doing better today. Please don't feel stupid or like an idiot. So many of us have been in and still in situations that we look back at now and see they might not have been the best choice, but we honestly thought we were doing something to help ourselves out of a bad situation. I have felt dumb and stupid for getting myself in the situations I had/have myself in and I just have to look at it as a lesson learned and work on correcting things. It will be ok and there are many here that can help lead you in the right direction. I know this is easier said than done, but don't beat yourself up over this and take things one day at a time. And today is Friday, so try to have a good day and enjoy the weekend. It will get better, I promise!

Thank you for that. Yes, today is Friday, and I am ready to face whatever may come. It really scares me though, that this company was able to get ahold of some of the information that they did. And that they were sending my husbands SSN through email.

Oh, I do understand. What is sad is that there are websites out there where someone can pay to get that information if they want it. It has gotten to where nothing is unattainable (sp) if someone really wants it. I talked to my mom last night and we were talking about some things (she does not know the mess we have been in) and she told me that I just had to have faith that things would work out and pray for direction. I know that to be true because I truly believe that is how I found this site. I had prayed for some help to be able to get rid of all the payday loans we had and one day I was messing on the computer and came across this site by accident. You are in good hands here and there are a lot of knowledgable people here that can lead you in the right direction and be a support system. Remember that sometimes bad things happen to good people, but a little faith and perserverience (don't kwow if I spelled that right), can lead you to a better place. Like I said, take one day at a time.

Swoody,
I have a contact name and number, I think it is in washington, I had a loan in default, it is paid now but maybe you can call and get a mailing address from this guy. His name is Rod Mills, phone number 866-861-3525, fax number is 866-809-4069, they got really pissed when I faxed them a voluntary wage assignment revocation letter. I thought I had an address for their place in Oak, Pa, just can't find it. I will keep searching. be back later