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I would like to thank all of the contributors to this site for all of the extremely helpful information! Truly you have been a lifesaver for me!!!!!

I have 3 loans:
Rise, $400 borrowed, made 1 payment 12/13 of $60 (est)
CashNetUSA, $350 borrowed, 1 payment 12/6 of $90.19
MoneyKey/NCP Finance: $300 borrowed 9/27. Bi-Weekly I have made payments of $90.69 then a payment on 12/6 of $140.69 I've paid in total of $503.00
As a single mom with no family and only myself to support my household, this was one easy trap to fall into. I've been in so far over my head that I have been working solely it seems to pay the bi-weekly payments on these loans. I estimated that I have been shelling out about $600 a month to pay these loans! That's more than rent...more than my car payment...more than my utilities combined!
I had made a decision to just default. I'd go to Collections, maybe a judgement, I'd deal. In my research I found this site and have found that the loans I had been given are all pretty much fraudulent. In my home state of Ohio the interest rates are WAY beyond the 28% stipulated by law, these outfits don't have physical addresses in Ohio, and on and on. I took the wonderful advice given and contacted the lenders immediately revoking any ACH payment authorization. I then went to my bank, and unfortunately while they could not close my account (I used Early Access with 5/3 Bank and can't close until my balance is paid off in January) the Manager put stops on the ACH transactions, set up a new account for me, and didn't charge me any type of fees to stop any payments to these theives. I'm waiting for acknowledgement of receipt of my ACH revocation emails to CashNetUSA and Rise, but did receive confirmation when I called MoneyKey while at my bank. I even requested confirmation by the end of business today. I'm also getting ready to contact the State of Ohio Attorney General's office so hopefully these bloodsuckers can be stopped in their tracks.
Christmas has come a week early for me! I can now concentrate on paying the IMPORTANT bills that I can handle...Rent, utilities, insurance, car AND still have a good Christmas for my son and I. I've been depressed and feeling there was no end in site to these loans. There is now, it happened today, and I totally thank your site for all of your help and information! THANK YOU SO MUCH!!!!!!!!

Good to know about your success story…..I hope you will never fall in this pdl trap in near future.

Merry Christmas in advance mate !!!

Sub: #1 posted on Fri, 12/20/2013 - 11:00


As far as I know, CashNetUSA is legal in OH as CSO.

Sub: #2 posted on Fri, 12/20/2013 - 11:03

ditchdebt ditchdebt

(Posts: 667 | Credits: 254.01)

can't believe this,but ditchdebt is right.CASHNETUSA is a CSO,and therefore not subject to pdl laws.however they won't sue as they sell any debt,but they should work with you on a payment plan,but they are legal.

Sub: #3 posted on Fri, 12/20/2013 - 19:01

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15511 | Credits: 1357.03)

Things went fine with MoneyKey...I actually got an email back about my ACH revocation AND a notice stating they would NOT debit my account now or in the future.
CashNetUSA has given me problems...
First off they sent me an email claiming they are exempt from Reg E and CAN debit my account though I sent the notice to them not to. I replied to them that their reply to me was receipt that they received my notice.
I also stated I would be willing to pay the principle and they sent back emails to me telling me that they basically will NOT set up payments with me, moreover, principle only. The fees are still added in. I specifically stated that I would like an address to send any payment via money order, and they will not provide me with one and stated that I must make payment by debit card, credit card, check...basically anything that they can debit. They stated that my "payment" scheduled to be debited would be $90.19, however, I just saw my account today and they tried to debit $91.69 AFTER I sent the ACH revocation and also notified my bank of this.
I have to contact my bank later today and deal with this. The bank manager did say she'd watch my account for any debits after I have sent ACH revocations out and right any wrongs.

Sub: #4 posted on Sat, 12/21/2013 - 14:31


You need to contact their corporate office. This is where you will get results.

Sub: #5 posted on Tue, 12/31/2013 - 01:43

bingonut bingonut

(Posts: 1433 | Credits: 168.82)

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