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Forgive my ignorance. I don't quite understand the law for Ohio PDL. For example I originally got an internet PDL on 3/5/07. The loan was 300.00. I have paid on the loan for 9 weeks and paid 450.00. By law have I paid back what I was legally required to pay? I have the site
http://www.paydayloaninfo.org/

but i wasn't quite sure how you calculate it. Thanks so much for everyones help here. Everyone has been super nice.




Yes you have way overpaid this loan....The max you should have paid on this is $345
its $10 for every $100 you borrow (so in your case $30) pluse a $15 finance fee bringing the fees to $45 dollars

Sub: #1 posted on Fri, 05/11/2007 - 21:36

Leah Leah

(Posts: 2323 | Credits: 514.98)

Thanks Leah it was on a checking account that i have not been able to close yet. Can i request the bank reject the ACH from the internet PDL and send them a letter requesting they show it paid in full.

Sub: #2 posted on Fri, 05/11/2007 - 21:41

kjfinley23 kjfinley23

(Posts: 11 | Credits: 5.2)

You can request this but these companies are very sneaky...if they do not get in with one name, they will change their DBA, change the amount or submit a paper check! It is just better to close the account all together or have it changed to a deposit only

Sub: #3 posted on Fri, 05/11/2007 - 21:51

Leah Leah

(Posts: 2323 | Credits: 514.98)

If I have it changed to a deposit only account can paper checks still go out of it and just nothing that would come in as an ACH. Thanks again for answering these questions. I do feel a little better that maybe we will be able to get this under control.

Sub: #4 posted on Fri, 05/11/2007 - 21:54

kjfinley23 kjfinley23

(Posts: 11 | Credits: 5.2)

I believe with a deposit only you would have to physically go into the bank to get any money or anything...but trust me, I had one company who started putting through 4 and 5 paper checks a day costing me numerous fees

Sub: #5 posted on Fri, 05/11/2007 - 22:00

Leah Leah

(Posts: 2323 | Credits: 514.98)

Thanks I think i will just close it. I am just waiting on my checkcards for my new account. I am beyond overwhelmed and it is a relief to know that I am not the only one in this situation. I have my storefronts on the account so i really can't close it until i get them paid which is taking forever.

Sub: #6 posted on Fri, 05/11/2007 - 22:08

kjfinley23 kjfinley23

(Posts: 11 | Credits: 5.2)

I was in the same boat as you(no storefronts though) when I first came here and I have a baby on the way..I am slowly but surely crawling my self out of a hole and I may be broke still but for the most part I can get my bills paid

Sub: #7 posted on Fri, 05/11/2007 - 22:11

Leah Leah

(Posts: 2323 | Credits: 514.98)

Well thank you for your help and Congratulations on the baby. We have had 3 deaths within a year in our family. 2 very unexpected my 36 year old sister in law and my 22 year old stepson. it has been overwhelming. I am very worried about my storefronts but somehow have been able to keep them current for the most part. I am trying to pay them down a little at a time instead of getting 500.00 i get 400.00 that type of thing until i can eventually get rid of them. I truly think chapter 13 is on the horizon for us if we can hold on long enough to get the money together for the lawyer. Again thanks for all your advice. It is much appreciated.

Sub: #8 posted on Fri, 05/11/2007 - 22:18

kjfinley23 kjfinley23

(Posts: 11 | Credits: 5.2)

I am sorry to hear about all the tragedy in your family! I think I am going to have to file a chapter 13 myself but I am never going to have the money! Best of luck to you

Sub: #9 posted on Fri, 05/11/2007 - 22:29

Leah Leah

(Posts: 2323 | Credits: 514.98)

Welcome kj, I am from Ohio too and had 10o pdl's when I found this forum. It is really important to close that bank account asap. As Leah said these places will try any tactic they can to sneak through debits. What companies are you dealing with? I am going to be filing chapter 13 also, hopefully next week if things work out financially. Let us know if you need us. I am sorry about the deaths in your family.

Sub: #10 posted on Sat, 05/12/2007 - 00:18

Sassnlucy Sassnlucy
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