Forum Header Block Description

Forum Header Block Body
Debt Consolidation Forums Payday Loan help

stop payment on payday loan



Sub: stop payment on payday loan
Tue, 05/01/2010 06:12

I live in Texas, and got a payday laon from an online front called payday-loan-yes. I fell behind and emailed them a week before my payment date and told them to stop all payments via ach. wells fargo put a stop payment on it as well and it worked. Now my family is getting text messages from someone saying they are a fraud investigator. What do I do, i cant get anyone to tak to me



Article Rating: 
shazzers739@yahoo.com
Shazzers


Posts: 17128
Credits: 158524.15 Send message to Shazzers

Sub: #1 Quote:Originally Posted by AnonymousI have also gotten involved Tue, 01/05/2010 - 06:12



Quote:
Originally Posted by Anonymous
I have also gotten involved with several and live in Massachusetts - any recommedations on how I can get out of this mess? They do not want to work with me so I feel like all I can do is place a stop payment on these ACH drafts.
Any help, greatly appreciated.
CLICK HERE to find out how to deal with illegal lenders.

Visit my blog-TAKE CONTROL!
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates!
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws


Unregistered

Sub: #2 "Guest needing help," as mentioned above, the only real way you Tue, 01/05/2010 - 04:46



"Guest needing help," as mentioned above, the only real way you can stop them is to close your account. If you put a stop payment on a certain ACH name, they'll more than likely use one of their other names to get their money. Please check the "stickies" on this forum regarding closing your account.


Unregistered

Sub: #3 I have also gotten involved with several and live in MassachusetMon, 01/04/2010 - 14:12



I have also gotten involved with several and live in Massachusetts - any recommedations on how I can get out of this mess? They do not want to work with me so I feel like all I can do is place a stop payment on these ACH drafts.

Any help, greatly appreciated.


Unregistered

Sub: #4 Names of Payday LendersFri, 08/07/2009 - 08:49



Unfortunately I got involved with several. I have done my research and payday loans are illegal in Massachusetts.
Ace Cash Services
Eastside Lenders
Cash Advance Network
PDLLoan Center 43PDL (Was originally Rocky Boy Tech.)
Paycheck Today
Instant Cash Debits
Government Employee Credit (GECC)


shazzers739@yahoo.com
Shazzers


Posts: 17128
Credits: 158524.15 Send message to Shazzers

Sub: #5 Quote:I keep reading that people have been successful in gettingWed, 08/05/2009 - 11:39



Quote:
I keep reading that people have been successful in getting payday lenders to stop taking the payments and even getting refunds. A "letter" is mentioned that can be sent to the payday lenders. Where can I find a copy of this letter?


There is only one sure way to stop an unlicensed lender from debiting your account and I am afraid that is to close your account. The problem with sending an unlicensed lender a letter to revoke their right to debit your account is this; even though the law states a debtor has the right to revoke withdrawals ( EFT law), there is no reason for an unlicensed lender to abide by that law. Think of it this way, they (unlicensed lenders such as Payday Loan Yes) did NOT follow the law to begin with by obtaining a license to lend, why on earth would they abide by the law that gives a debtor the right to reject their withdrawals, the chances of that happening is slim to none, this is why you should secure your account and NOT count on them following the EFT law. You are only protecting yourself. You REALLY need to either get that account closed, or go directly to the bank and speak to the branch manager and have a hard debit block placed on it.

Visit my blog-TAKE CONTROL!
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates!
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws


Sub: #6 Lots of threads on star being posted lately you can search thierWed, 08/05/2009 - 11:28



Lots of threads on star being posted lately you can search thier name in the box on the top right box on this page.


Unregistered

Sub: #7 starcash payday loanWed, 08/05/2009 - 10:24



i need help finding info on starcahprocessing.com


lostinthesauce10@yahoo.com
Cool_Abyss

Posts: 2924
Credits: 17322.149242083 Send message to Cool_Abyss

Sub: #8 The letter you are referring to is a proposal letter. I have incWed, 08/05/2009 - 08:18



The letter you are referring to is a proposal letter. I have included a sample below. These letters are usually sent to ILLEGAL lenders however. What is the name of the company or companies you need help with?

Quote:

Date:

Name Of PDL

Your Name
City, State
Account #


After doing research regarding Internet payday loan laws in the State of _______, I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of _____ in general:

Your State Information

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the XXXXXX to protect my interest in this matter, per instructions from The _____ Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed in the state of ____ to be a legal and binding contract, your company should NOT issue loans to ____ residents at all. I am requesting that you send me your license number which enables you to offer loans to ____ residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the ____ Attorney General's Office.

I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,

Your Name
CC:
Better Business Bureau
YOUR Attorney General
Federal Trade Commission

"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

-Aristotle-


Unregistered

Sub: #9 Stop Payday Loan Withdrawals - They are illegal in MA.Wed, 08/05/2009 - 08:02



I keep reading that people have been successful in getting payday lenders to stop taking the payments and even getting refunds. A "letter" is mentioned that can be sent to the payday lenders. Where can I find a copy of this letter?
Thanks!


LYNNINMN@AOL.COM
SOAPLADY


Debt Samaritan
Posts: 17094
Credits: 376474.34553311 Send message to SOAPLADY

Sub: #10 Close your bank account and open another....a lot of these pay dTue, 06/16/2009 - 11:04



Close your bank account and open another....a lot of these pay day lenders will send thru debits under other names to get around the stop pay.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


Add new comment

Full HTML

Filtered HTML

Plain text

Share post

Forum Footer Block Description

Forum Footer Block Body

DEBTCC "Share and Win iPad" Contest

Follow and like DEBTCC



& "Get Social" for your Chance to Win iPad!!

WIN A FREE iPad

Get Social for your Chance to Win iPad

Page loaded in 0.621 seconds.