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I have been reading this forum non stop for the last two days--and now would love some help from all of the experts here. Here is my PDL situation

Paydayone original loan 500 paid 400
CashnetUSA orginal loan 1500 paid zero so far
CashCentral Original loan 400.00 paid 100.00
Quickest-Cash-Advance MTE original 500.00 paid 675.00 so far
Impact USA orginal loan 350.00 paid 315 so far

CashAdvanceNetwork orginal loan 350 paid 575.00 so far.


I would appreciate any help with how to proceed.
If I have read correctly, ...any advice is much appreciated. the first thing I should do is close my bank account, then send letters to the company's that are illegal and work out payment arrangements with those that are legal

thank you!!




Hello and welcome, I also lived in Wisconsin at the time I was batteling my PDL's. Unfortunatly Wisconsin has no interest rate cap on these loans, so they can pretty much charge you what they want. I know for sure Cashnetusa and paydayone are licensed online payday loans. I don't believe MTE is licensed and they are going to be a little difficult to work with. Cashnetusa will call you everyday at work and home phone. They were never rude to me but they will try to work out payment arrangements.

Sub: #1 posted on Tue, 06/24/2008 - 21:09

PinkLady PinkLady
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(Posts: 1722 | Credits: 277.46)

Welcome to the forum! If you decide to close your bank account, be sure to read this information first:
http://www.debtconsolidationcare.com/paydayloan/close-acc ount.html

Other than that, I'm sure that someone will be along soon to advise you further. Good luck!

Sub: #2 posted on Tue, 06/24/2008 - 21:20

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

In Wisconsin it is NOT illegal to close your account.
You will find the Payday loan laws for Wisconsin here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-p dls-laws.html

Sub: #3 posted on Tue, 06/24/2008 - 21:27

PinkLady PinkLady
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(Posts: 1722 | Credits: 277.46)

alias1958 did make a good point, defiantly check with your bank to see what their policy and procudures are on closing your account.
I would also prepare letters to each of your PDL's stating that your revoke authorization to make any further debits from your account and also keep a copy to show to your bank. I would also check all of your documents to make sure you didn't sign a Wage Assignment and if so you need to send a certified letter stating you revoke that as well.

Sub: #4 posted on Tue, 06/24/2008 - 21:31

PinkLady PinkLady
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(Posts: 1722 | Credits: 277.46)

thank you for all the help so far...can anyone advise which lenders are illegal?
Can someone also post a sample of the letter to revoke ach authorization?

I have read the banking post..so I am off to the bank this afternoon to see what they have to say.

Sub: #5 posted on Tue, 06/24/2008 - 21:37

sherrylove1210 sherrylove1210

(Posts: 3 | Credits: 1.4)

I took a look at the wdfi(.)com website. Look in the Corporate search section. I found info on Paydayone, cashnetusa, cashcentral. The other ones showed nothing so those I believe are the illegal ones. I would write a letter to MTE, Impact and cashadvance network stating you found no info of them being liscensed to business in your state and looking at the amounts you have paid to them they should consider your account paid in full. You could also try filing a complaint with the Attorney generals office. They have complaint links on the site I listed above.

Sub: #6 posted on Tue, 06/24/2008 - 21:55

PinkLady PinkLady
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(Posts: 1722 | Credits: 277.46)

Do you have any other debts you are possibly needing help with ? the reason I ask is you might qualify for a program only offered for people in Wisconsin called Chapter 128. Chapter 128 gets its name from the Wisconsin state statute it falls under, 128.21. The main purpose of Chapter 128 is to repay debt without filing bankruptcy. It is NOT a consumer credit counseling program, but is a debt consolidation plan filed with the Wisconsin Circuit Courts, with documents prepared by an attorney. A trustee is appointed to administer the plan. I hope this helps :)

Sub: #7 posted on Wed, 06/25/2008 - 01:12

mobile0311 mobile0311
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(Posts: 1817 | Credits: 104.57)

I looked into Chapter 128 before I filed Bankruptcy, but I had so much more debt outside of my PDL's bankruptcy was my only option. Chapter 128 may be a wonderful thing to just handle your PDL's because you don't have to list all of your debts on this. When I was going through my credit counseling program my counselor mentioned this to me as an option. If you do a google search on Chapter 128 in Wisconsin you will find more information and links to lawyers in your area.

Sub: #8 posted on Wed, 06/25/2008 - 01:40

PinkLady PinkLady
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(Posts: 1722 | Credits: 277.46)

I have little other debt. I had filed regular bankruptcy due to divorce 2 years ago, hence my in ability to get regular loans at decent rates. I plan to pay off the three that are legal and the other three i will fight with. just getting rid of those three will help immensely, but thanks for the info on chapter 128--very interesting.

Sub: #9 posted on Wed, 06/25/2008 - 01:47

sherrylove1210 sherrylove1210

(Posts: 3 | Credits: 1.4)

I was reading through the forum and noticed there was something about MTE not being Licensed to do buisness in Wisconsin. I was wonderfing if anyone could help me with the letter I should submitt to MTE, I keep getting harassing calls form them./ Thanks for you help

Sub: #10 posted on Thu, 07/24/2008 - 04:46

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