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Payday Loan Help - already paid principal

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Hello! Hoping I can get the help I need here......I have two payday loans that I don't want to pay on anymore cuz I have already paid on the principal. One is Zoca Loans - Borrowed $450 paid back $472.16 ...... Second, Green Trust Cash - Borrowed $550 paid back $620.44. I live in AZ and I just found out that payday loans are illegal here. I am going to close my bank account so that they can't take any money out of my account. I am not going to give these companies anymore money. Could I get in trouble for these loans? What do I say to the loan companies? Any and all help is appreciated. I've read some great success stories on here so I am hoping to have the same outcome. Thank you in advance!




You have made the right decision buddy. You won't get in trouble for these payday loans. It's just that these lenders will send you letters after letters. But don't bother. They can't harm you. You should inform that you won't pay a penny since the principal amount has been paid off already.

Best of luck!!!

Sub: #1 posted on Tue, 07/03/2018 - 16:16

ditchdebt ditchdebt

(Posts: 661 | Credits: 253.26)

You are doing the right thing. Those two PDLs are illegal in AZ, and as you have paid off the principal amount, they can't bother you you legally anymore.
You may keep your bank accounts open. You just need to withdraw the ACH authorization, contact your bank and give them instructions.
They might send you several emails but just reply them that you're not going to pay a single penny to them anymore.

Sub: #2 posted on Tue, 07/03/2018 - 17:12

Barbara Delinsky Barbara Delinsky

(Posts: 270 | Credits: 26.81)

Since they are not legal lenders, they can't claim you the interest rate. Contact your bank to evoke the ACH authorization. If the lenders irritate you for the money, you can make a complaint against them to the State's attorney general.

Sub: #3 posted on Tue, 07/03/2018 - 19:20

sanderspatricia29 sanderspatricia29

(Posts: 612 | Credits: 64.2)

Thank you!

Is there a letter or a form I need to send to them to let them know that I am not paying them anymore? Should I request a paid in full letter from them? Since I overpaid, should I request this money back? I have closed my bank account instead of doing an ACH Block (stop payment) as Chase wanted to charge me $30. Redoing all of my other auto payments and such is going to be a hassle but that's alright. I will never do these payday loans again.

Sub: #4 posted on Tue, 07/03/2018 - 22:07

Chere Oliver Chere Oliver

(Posts: 4 | Credits: 0.72)

Not really, you may just send an email that you are going to stop all payment modes.
You may ask for the refund but in such cases the chances are very low, and you can't take any legal actions either.
Yes, don't take out payday loans anymore, it's a wise decision.

Sub: #5 posted on Wed, 07/04/2018 - 19:41

Barbara Delinsky Barbara Delinsky

(Posts: 270 | Credits: 26.81)

Hi,

You'll get the sample letter and loads of other information here (check out the step no 2:
https://forums.debtcc.com/paydayloan/dealingwith-illegallenders.html

Sub: #6 posted on Thu, 07/05/2018 - 09:39

ditchdebt ditchdebt

(Posts: 661 | Credits: 253.26)

This is what I got back from ZocaLoans........

Should I send in the form they sent me? They can process the payments but they will be rejected because I closed that account and now I have a whole new account number and routing number. They are saying that they are legal in AZ because they are part of the tribe out here. But I paid the principal on this. I'm not paying them any more money.


Alyssa M (ZocaLoans)

Jul 5, 9:31 AM COT

TO: Jean Oliver
FROM: ZocaLoans
RE: Loan# 800053
DATE:July 5 2018

We are in receipt of your correspondence date on or about 7/5/2018. We would like to respond to your concern that ZocaLoans is not licensed to do business in the state of Arizona. ZocaLoans is an entity owned and operated by the Rosebud Sioux Tribe, from its reservation lands, and pursuant to tribal laws and regulations. This installment loan was made via the Internet and subject to the laws and jurisdiction of Rosebud Sioux Tribe. ZocaLoans is regulated and supervised by the Rosebud Sioux Tribal government, who has the power to enforce provisions of the Tribe’s consumer financial services laws and regulations. This was outlined in the installment loan agreement. The installment loan provided was and remains legal and compliant under the laws of the Rosebud Sioux Tribe. A copy of your installment loan agreement is available to you at all times by logging in to the ZocaLoans Member Portal. In addition, ZocaLoans remains fully compliant with all US federal debt collection laws and regulations.

We hope this response addresses your concerns. If you require any further information, please do not hesitate to contact our office directly.

Customer Relations
ZocaLoans
zocaloansdotcom

E-mail: customerservice(at)zocaloansdotcom

Phone: 1-888-980-1532
Business hours: Mon -- Fri, 8:00 a.m. - 8:00 p.m. Eastern Time

Confidentiality Statement & Notice: This email is covered by the Electronic Communications Privacy Act, 18 U.S.C. 2510-2521 and intended only for the use of the individual or entity to whom it is addressed as it may contain confidential and legally privileged information subject to the attorney/client privilege. E-mail transmission is not intended to waive the attorney-client privilege or any other privilege. Any review, retransmission, dissemination to unauthorized persons or other use of the original message and any attachments is strictly prohibited. If you received this electronic transmission in error, please reply to the above-referenced sender about the error and permanently delete this message. Thank you for your cooperation.

We have stopped your next payment from being processed on your account. Please see the attached ACH Revoke Confirmation Form. You must print this form to complete, hand sign and provide us with a scanned copy attached as a PDF file returned via email. Once we receive your ACH Revoke form, we can process your request. We have provided you with a 14 day window to complete the necessary document to effectively revoke your ACH. If we do not receive this ACH Revoke Form within 14 days, ZocaLoans will process payments in accordance with your loan agreement.

We understand that you may be going through a financial hardship; we have many discounted repayment options available to you. If you are interested in learning more about these options, please reply directly to this e-mail and one of our account managers will gladly assist you.

Sincerely,
ZocaLoans Customer Support

Attachment(s)
ACH REVOKE FORM.pdf

Sub: #7 posted on Thu, 07/05/2018 - 21:10

Chere Oliver Chere Oliver

(Posts: 4 | Credits: 0.72)

Tribal government?? Tribal laws and regulations?? They are fully compliant with all US federal debt collection laws and regulations?? They are just damn liars...!! That's all.
Tribal loans are illegal in all over US. So, do not sign any documents they've sent to you.

You are doing great. keep on your toes and don't fell for any trap from them.

Sub: #8 posted on Fri, 07/06/2018 - 12:53

Barbara Delinsky Barbara Delinsky

(Posts: 270 | Credits: 26.81)

Tribal loans are not legal. Not even in AZ. So, you can ignore what they are telling you. Yes. You have made the right decision. You shouldn't pay a penny more to them.

You can send the form they sent you. But read the form carefully. It can be a trap.

Sub: #9 posted on Fri, 07/06/2018 - 15:33

ditchdebt ditchdebt

(Posts: 661 | Credits: 253.26)

It is better to contact your bank and ask to close the account. Since you have paid the principal amount, you should worry about any law and regulations. You are clean.

Sub: #10 posted on Fri, 07/06/2018 - 19:05

sanderspatricia29 sanderspatricia29

(Posts: 612 | Credits: 64.2)

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