member profile picture

Some time ago I posted about how I had paid off one of the two payday loans. United cash loans have the accounts. I posted how the person handling the account was helpful. However, I'm really scared now. As I was unable to meet a verbal agreement to pay the second one, I explained to them in a phone conversation that it took all my financial resources to pay off the first debt. The second for around $380.00 I can’t pay right now, I tried to offer like ten to twenty dollars and they said no, they needed minimum fifty, I could not do that.

Now I have not heard anything from them and it’s been 4 weeks, no more phone calls no letters nothing. I’m afraid they actually maybe trying to have me prosecuted or something. I have other debts that are in collection to but nothing like this.



** I have a more serious issue also, I am writing this for a friend, I told her about this website and explained that she should tell her story here.

Well, she is really, really scared. Her issue has to deal with a large bank here in California that she is overdrawn 800 dollars and the account (checking) has been closed. The account is now in collections and she told me that the collection agency contacted her one time only via the phone. She explained to me that she told the person at the agency that she could pay 50 dollars now and then 100 dollars every two weeks, well this agency did not like that and basically said to her that he would have to bring it to his manager and she should hear something back in a few days.

She has not heard anything for three weeks, and is really scared that they (agency or bank) maybe trying to file a complaint with DA. She said the agency said this is bank fraud and she will be arrested and all and now she is really freaking out. I told her I would write this letter for her. Please help!

Thank you




Ok..Well first United Cash Loans is full of hooey! Have you paid back the principal amount yet? How about appropriate interest rates allowable for your state?
UCL won't prosecute anybody if they aren't licensed in your state.
As for your friend, she should probably go that bank and talk with them. It's hard, I know I've done it. But not doing anything will be worse for her.
Have her explain her situation to them. She is obviously having financial difficulties, and she needs to let them know.
As far as bank fraud? The bank could probably get her for a judgement and garnish wages. I doubt they will prosecute her, but not can't be sure.
The best way to avoid any of this would be to make some arrangement with the bank for a weekly or biweekly payment and stick with it.

Sub: #1 posted on Tue, 09/19/2006 - 21:25

erzeke1 erzeke1

(Posts: 1145 | Credits: 183.13)

Thank you for the reply.

1. Nothing has been paid on the second loan at all.
I paid off the first one through United cash loans; however I have not heard anything for a month now. I'm not ignoring them; the person would call me at least twice a day and leave a voice message.

Now a month later and nothing at all, that's what concerns me. They were so persistent and they know I paid off the first loan and now nothing, I forgot to mention that the person helping me on United Cash loans said that she was afraid for me. We actually had chatted several times about family, weather and all, very nice to talk to but her last voicemail to me sounded like she lost her best friend.

She said this is out of her hands now, I'm really afraid that they will go to my county prosecutor.

The second issue is that she did place 100 dollars into the account before they closed it. Now this is with a CA, should she deal with them or call the bank and try to work out some sort of agreement.

Sub: #2 posted on Tue, 09/19/2006 - 22:02

Unregistered


What state are you in?

Secondly, your friend could go to the bank and see if they will work with her without the CA. If I were her, I would physically go to that bank and speak with the manager. See if they will pull her account out of collections. It may even help if she brings some cash with her to show that she's willing to pay this account.
If it stays with a CA, it will go on her credit file as well as Chexsystems and be harder for her to open another account in the future, if it hasn't already.

Sub: #3 posted on Tue, 09/19/2006 - 22:13

erzeke1 erzeke1

(Posts: 1145 | Credits: 183.13)

I'm In California

Sub: #4 posted on Tue, 09/19/2006 - 22:21

Unregistered


Here's some info on California payday lending laws. You may want to formulate a letter to UCL including the amount you're willing to pay with the appropriate interest rates on your loan.
State that you will only communicate in writing or email.
UCL is most likely not even licensed in Ca. Their licensee database website was down when I tried to access it, so you might want to check it yourself.
Don't worry too much about UCL prosecuting...they're in alot of hot water right now due to their illegal activities!
Quote:
California State Information

Legal Status: Legal

Citation:
Cal. Fin. Code ???????? 23000 to 23106

Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento, CA 95814
Phone: (866) 275-2677



Sub: #5 posted on Tue, 09/19/2006 - 22:29

erzeke1 erzeke1

(Posts: 1145 | Credits: 183.13)

I would also report them to the Cal.Dept. of Corporations at the number listed, as well as your Attorney General's office.

Sub: #6 posted on Tue, 09/19/2006 - 22:30

erzeke1 erzeke1

(Posts: 1145 | Credits: 183.13)

You are great! thank you! :D

Sub: #7 posted on Tue, 09/19/2006 - 23:14

Unregistered


Scared, In regards to your friends situation with the bank, I myself, Last July had my account overdrawn by almost $900 (see my story) and was sent to chexsystems, which was preventing me from having even a savings account and to a collection agency. I was scared too. However, I went into my local branch and talked to the branch manager, explained the situation and that I really wanted to take care of it. I promised to pay $200.00 per month, with a first payment that day of $150.00. They agreed to do this, it did stay in collections however, I made the payments to the bank directly (keep every receipt for later proof) and when it was paid in full they took me out of collections and out of the chexsystem. Before I knew it I was paid off and on my way to a good bank account again. Hopefully being upfront and direct with the bank will help your friend. Good Luck to you both.

Sub: #8 posted on Wed, 09/20/2006 - 03:57

Pauli'sGirl Pauli'sGirl

(Posts: 344 | Credits: 48.06)

I had the same problem years ago when going through my divorce and my soon to be ex wiped out the account to get even with me, leaving me with utilities/etc.. outstanding and two mouths to feed that also needed medications for their seizures. The account had NSF's out the wazoo because of this. I was able to save up and did the same thing went directly to the bank and paid them in full and that day they allowed me to re-open my account. I was sent to a collections agency, but never threatened with fraud or anything criminal, I didn't do anything that would lead me to be charged with that, it was all out of my control.

Sub: #9 posted on Wed, 09/20/2006 - 04:05

WHEREAMI? WHEREAMI?

(Posts: 5262 | Credits: 731.81)

Amy, sounds very similar to my situation, could be the same ex :) Hope all is well with you now. Pauli'sGirl

Sub: #10 posted on Wed, 09/20/2006 - 04:11

Pauli'sGirl Pauli'sGirl

(Posts: 344 | Credits: 48.06)

Attachment
More information
  • Files must be less than 1.25 GB.
  • Allowed file types: txt pdf jpg jpeg png.
Post as a guest
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Post as a member

Share post

Page loaded in 1.971 seconds.