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I have 9 of them. Paying each of them $30 a week just to have them hold off until my next payday. I have gotten myself into this deep dark hole of debt and I can't seem to find a way out. Any advice




You can follow the following steps as suggested by Shazzers, one of our moderators: -

Quote:
What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE (http://us.bbb.org/WWWRoot/SitePage.aspx?site =113&id=46a6a9cd-5402-454e-9476-e4df22e6f371 ) at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission. (https://www.ftccomplaintas sistant.gov/ ), and the BETTER BUSINESS BUREAU (https://odr.bbb .org/odrweb/public/GetStarted.aspx )

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter.


But before closing your bank account please read the following thread: -
http://www.debtconsolidationcare.com/paydayloan/close-acc ount.html

Sub: #1 posted on Sat, 08/30/2008 - 16:44

phoenix phoenix
Moderators
(Posts: 1445 | Credits: 275.44)

Hi there Ruthie and welcome to the community. First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-acc ount.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it!

Sub: #2 posted on Sat, 08/30/2008 - 17:35

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.88)

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