I am coming to this forum in hopes of getting some advice/assistance with getting out of this PDL nightmare. I currently live in Columbus, Ohio. I have no store front loans, they are all on-line establishments. I am not sure what the Ohio laws are governing PDL and on-line lenders but here is what I currently have:
Payday One - loaned $500.00 - due $575
ameriloan - loaned $300.00 - due $390.00 (have been paying $90.00 biweekly for 2 months)
Cash Transfer Center (Northway Financial Corporation Ltd) - borrowed $500.00 due $635 (they also have a declaration of wage assessment)
GRC Funding - don't even know where this came from but they have been deducting $90.00 every week from my account and contact to the company has been impossible!
NetCash USA - loaned $300.00 - due $390.00 (they have been taking $90.00 interest from my account for the past two months and the principal has not gone down)
Magnum - borrowed $500.00 on top of the $280.00 that was due - currently due $1059.84
I have contacted my bank and they told me that there is no way for them to stop ACH debits from my account which means that my account will be overdrawn on July 31st and I'll be hit with fees from the bank that I will be unable to pay.
I just want to get out of this cycle and I don't know how. I currently have another bank account that they know nothing about and have no access to.
Are on-line lenders legal in Ohio and what laws must they follow? Are there letters that I can send to these lenders to revoke the authorization to my account and to stop them from harassing me at work?
Any assistance/advice is greatly appreciated.