Washington State payday loan Victims

[quote]Know Your Rights and the Law

• You have the right to change your mind about the loan within one day.
  
• You have the right to know all of the costs involved.
  
• You have the right to a payment plan.
  
• A payday lender may not threaten criminal prosecution as a method of collecting a past due loan.
  
• Paying off an old loan with a new loan may be illegal.
  

Here are some of the online payday loans to stay away from.
United Cash Loans unitedcashloans.com
World Wide Cash Now worldwidecashnow.com
Their collection agency is United Legal Corp.
Sonic Payday sonicpayday.com Their collection agency is Universal Fidelity.
Debt Doctor/BMG Group ( whose website has disappeared) uses First Credit of America, Accounts Receivable Technologies.
Rio Resources can't remember website and they use United Legal Corp.
VIP Cash (can't remember website)
I hope this helps people caught in the payday loan trap. This is one mistake that I will never ever make again.

Links made inactive as per forum rules. Only links to govt. sites can be kept active.- Vikas

I live in Washington State and have delt with premier processing an on line payday loan and Elis Crosby tried to collect. ALso Platinum B and had Anthony Galloway call, then united federal bank call and Insterstate wire call ( all the same company) they all called about the debt with platinum B but would not give me an adress or refused to send validation to me.

JJ,

Good luck with this!

good start folks, remember I am trying to identify Washington State residents who have been victimized

jj,

I was just listing some of the ones I have dealt with. I don't live in Washington State, but I hope my posting will help others.

thanks Brat, that may help jog peoples memory. btw how is your mom?

Doing good. She is home and don't answer the phone unless it is family or friends. They have hired an attorney to sue the collection agency.

good luck in the suit. nail em for us all

:D The State of Washington Department of Financial Institutions issued a news release yesterday on licensing of internet payday lenders. In a nutshell it now requires ALL payday lenders, online or not, to be licensed in this state to grant payday loans to Washington residents. If they are not licensed, or do not comply with the lending laws of this state, then the payday lender violates the law and the consumer does not have to pay the loan back. This is a big step forward for the consumers in my state to get rid of these internet predator payday lenders. Way to go Washington state!!!

That is AWESOME! Way to go WASHINGTON! :D

Wow, that's great news :-) It's good to hear states cracking down on these places.

I have loan thru Sonic payday, I am unable to payback for the first time, I have been caught up in this mess for about a year now. They are harassing me and threatening to take all my wages.

The news release in Washington is available at the DFI website, search for washington DFI, etc, and search their site..... I am so glad to find this site. I am having problems with CashSupply. Also MTE Financial (aka ten dollar payday loans?). I live in Seattle now. I'll come back with an update. I'm reading through the DFI's website now...

OK I would start off with the payday loans first and try to get them out of the way, pay the minimum on credit cards. After the payday loans are out of the way start with you biggest credit card and pay as much as you can each month, pay the minimum on the lower card and put $20 a week in a draw, a can or in a savings account, whatever you feel is better. Now once you pay off the big card, you will have the other one with a balance still as you have been only making minimum payments.

Take that $20 a week you have been putting aside like I said and now use that to pay off or down the other credit card. You can do it a number of ways and it helps you learn how to put minimum amounts of money away and shows you that it can be done and what good can come out of it.

Some people will say "just put the extra $80 towards the bill every month" I guess it's just a personal preference. It also helps people from making the same mistakes as before and eventually they will start to put $100 a week or more away when all their debt is paid off. After one year you would have $5,200. Then you can do something nice for yourself, buy something nice, take a nice vacation to reward yourself.

Hope this helps.

OH and you are not a loser. Everyone has problems in life, I myself do also. It is what you do to correct the problem that matters. If you want to succeed you will succeed.

Thank you for the advice, and yes, I want to succeed!

With the two credit cards, I'm on a repayment plan with Capital one for about $240 a month. It's so hard to make that payment, but it's locked in. One month, I couldn't afford it, so I put a stop-payment on it. The collector called me and threatened me with wage garnishment. I knew the payment would bounce, so I did what I had to do. I just had to wait for 3 more days to make the payment. So, I'm stuck with that one.

Same with the Target card. I've paid that card off twice over, the interest is so high. The balance has been between $800 and $900 for 2 years, and I can't pay it down.

We got into huge trouble after moving to this duplex. The rent was $795, and when we went to the lease signing, it was, "Surprise, it's $895. We charge about $25 a month for water and sewer, and $75 for maintenance." Mind you, "maintenance" is someone coming once every 6 months to mow your lawn-that's it. But we were scared and desperate, and we signed a month-to-month lease.

The killer was coming up with the last month's rent. We needed first month's rent, last, and security. We only had part of it, so we had to pay it off over the first 3 months of our residence here. That's when I started getting the payday loans, just so we could stay afloat.

I will try to pay off the payday loans first. Good advice. It sounds like 5 of the loans I have are illegal, and I've more than paid the loans off just with the extension fees. I'm in WA state, and have loans out with 500fastcash.com, mycashnow.com, OSL Marketing, Bahamas Marketing, and Emerald Marketing.

I'm in a huge mess; self-created, of course. I'm not trying to run away from my debts. I want to do what's legally and morally right.

I'm just really scared right now. At the same time, I do see a tiny glimmer of light at the end of the tunnel. I can only go up from here, so that does give me some comfort. That, and the support of the kind people here.

Thank you!



CherryMuffintop

Just so you know they cannot threaten to garnish your wages. They can only do that if they sue you and win a judgment. If it was a debt collector threatening that you could sue them but I am not sure on the original creditor.

Either way, best of luck and if you have any questions, feel free to come back.

Hi, this is CherryMuffintop. I posted a few times on the board.

OK, now I'm scared. LOL. I emailed all the internet payday lenders the copy-and-paste letter you provided here. Emerald Marketing wasn't so bad. They just emailed back, "This was sure rewarding for you, wasn't it?" I was like, "OK, I can handle that." I just wrote back that no, it wasn't rewarding, I just needed to get out of paying more than I owed.

OSL/SSM Marketing wrote back that I am legally stuck, and that I must stick to the contract. Now, that freaks me out. I borrowed $200, paid $180, and told them I'd give them $20 more. She said if I try to close my account, they'll send me to collections. Can they do that?

I'm still waiting for the others to write back.

I've contacted 500FastCash, TJF, BMG, and MyCashNow with the same letter. I'm just waiting now, and I'm very scared. With MyCashNow and 500FastCash, I've paid almost double what I owe them, just in fees.

Please help. I'm really freaked out.

Close your account ASAP, they can't do anything!

Hi cherrymuffintop e---hugs.. I know how you feel about being desperate. I don't quite have as much debt, but I still live paycheck to paycheck mostly because I don't know how to save my money for anything. I could be out of debt by now. I have quite a few payday loans myself one with moneytree w/ I've defaulted on I also have one with Ameriloan which they hit my account for their money my account is negative, and I really don't want the bank to close it, but I also don't have $500 I can put in there at this time, and I refuse to take out more of these payday loans. I also don't know what to do I'm trying to get out of debt not deeper in to it. Well I need to get back to work, but I am going to call a debt consolodator have you thought of that? It might help you free up some money to have to at least get food w/, and save some I need to open an account that I don't have access to so that I can't take money out of it that easily I think. Well I gotta go for now I hope this helps.

Melissa

Hello everybody, I am new but I have lurked for a while. Thanks for providing all this great information. I live in Washington and have had at least 20 loans via paydayone. I called and asked for a payment arrangement and was told I was not eligible because I live in the state of Washington. I was told because I have to wait 3 days between loans I have not received any consecutive loans and therefore am not eligible for a payment arrangement. Is that true? I don't know what else to do except close my account but I don't want any wage garnishments.

I paid off a loan to Check 'n Go. About a year later they put on my credit report I still owed them. I spent a lot of time and trouble removing the false report. A few years later they put it back on my report. I got it off again. Recently they have done it again.

I think they don't have a washington license

I recently received a loan from this company. They put it in my bank without my knowledge at first. I wanted to read up more on the company. Anyways, the payback was stated to me as this: $150 finance charge with the interest rate of 999.percent. Every two weeks they will take that finance charge until the loan is paid off. I stated I canNOT afford that. I am going to be putting in a formal complaint. I told the cust. serv. rep that didnt' seem right, nor fair. I have never heard of a payday loan like this. I am absolutely frustrated, and even regret giving them any of my banking information. UGH