bank account closed, whats next

They haven't called me yet and they've gone two paychecks of mine without being paid. So breathe, the harrassment might not start just yet.

First of all you should sign up/sign in.
I'm not sure if you have another post but it would be helpful to know the names of your pdls and how much you borrowed and how much you've paid. As well as what state you are in.

Also did you send them letter revoking your authorization to withdraw money from your account. If you haven't then you should do that, send them certified so you have a receipt that they got them, and it helps to send copies to your bank (even though closed) just in case, and especially if you continued to bank with them.

As for the ones you've paid back the amount borrowed on, I haven't experienced that, so I'm sure others will chime in on how to take care of those. I think it involves sending another letter though, telling them they are not licensed (because they probably aren't) and because of that they have been paid in full.

Hope that helps, don't forget to login and keep us updated!

You have to check with your bank and see how they will handle an account that is closed if debits come through. Will they force it open to clear the debits? Some banks do and some don't. It just depends on the financial institution you use.

There are several form letters on this site you can use to get you started with contacting the PDL's regarding PIF's or arrangements that you can afford.

Post the requested information from pokogeo above and we will all help you with what comes next. GOOD LUCK!

stud, please post what state you reside in. That way we will know the pdl law for your state. Also post the names of the pdl's that you have, how much you borrowed (principle only) and the amount you have paid back on each one. Also, as stated in above posts, please check with your bank to be sure that no "pending debits" will force your account to re-open. If they say it will re-open, you need to put a hard debit block/freeze/hold on that account and let your bank know that no debits are to go through, as they are unauthorized debits. Please make sure of that first thing. Then we can work from there. Once we know what state you are in and the pdl law and who your pdl's are, we can get you going in the right direction. We're here to help! :D

This was my first post with all the info....

Need help ASAP with payday loan companies. This is a mess; so anyone that has info please help. Below is a list of my loans and how much I've already paid. (11 total) Im completely broke and don't have family that can help. Credit is bad, so I can't get another loan to pay these companies off. My account is always in the negative so each time I get paid, I really don't. Im 21yrs old and already have messed up with credit. Please, please, please help. What should I do.

United Cash loans
loan amount $250.00
paid amount $775.00

Net Cash USA
loan amount $300.00
paid amount $475.00

One Click Cash
loan amount $250.00
paid amount $425.00

Web Payday
loan amount $400.00
paid amount $0.00

CMG Group LLC
loan amount S200.00
paid amount $240.00

Money Line
loan amount $200.00
paid amount $240.00

TJF Corp
loan amount $250.00
paid amount $225.00

JD Marketing Group
loan amount $250.00
paid amount $225.00

America's Cash Store
loan amount $200.00
paid amount $0.00

Island Pay
loan amount $200.00
paid amount $0.00

Cash in a Wink
loan amount $300.00
paid amount $135.00

I currently stay in Maryland.

Thanks all,
Stud

Am I safe in assuming that are all internet loans? I went to check to see if any of them are licensed in Maryland. All of them are not - except - I am not positive about CMG GROUP LLC or MONEY LINE. A couple of licensed companies came up and I'm not sure if it's them or not. I think you have a few posts going, so let's stay on this one and continue posting. It's getting confusing and you have to keep reposting! LOL! Okay, did anyone post your state law yet for Maryland? Let us know if these are all indeed INTERNET loans. You closed your account. Did you speak with the bank regarding if any "pending" pdl debits will force your account to re-open? We need to be sure of your checking account. We need to get this taken care of ASAP so that the pdl's don't hit it any futher. Please contact your bank and ask their policy about this. If they can not promise you that the account will not re-open, you need to put a hard debit block/hold/freeze on that account. You don't want these pdl debits going through and then causing you to be in the negative and have bank fees. I want someone else to check on these two pdl's with me regarding if they're licensed or not. And, did someone post your state pdl law for you so we can see what's going on?

Thanks for everything. The bank is going to close my account once i make a payment on my car loan. Its like 3 days late. All of these are internet loans. The bank is going to refund me the overdraft fees to make my account current. They are going to also make the account deposit only. no one has posted my state laws on maryland.

Okay, you've got your bank account going in the right direction. Deposit only status? Right? Absolutely no debits will be taken out? Please be sure of this. I'm just VERY paranoid. And, I've found that pdl's are prohibited in Maryland.

You will find the Payday loan laws for Maryland here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Stud, any more questions as to how to proceed with these, please post! :D

I just left that guy a message. I've actually been calling him for a few days but i never left a message until now. yes quick question though. Where can I get money to live with until i get paid.

stud, when do you get paid? Did you have your employer start issuing you a "live check" rather than direct deposit?

stud
perhaps ypu can get a small advance from you employer
so you will have some money to live
Whatever you do DONT TAKE OUT ANOTHER LOAN

I get paid next monday. My check is going to another account. Being a government employee, its a must that i have direct deposit. So I opened a new account with a different bank.

Okay, that's good. You've got your behind covered so when Monday comes, you'll actually have money. But until then, shoot, that's a few days away! Is there anyone you can borrow money from until you get paid? A friend maybe? Or a family member? Just until you get your paycheck on Monday and then can pay them back? I know it sucks, but I've had to do it! Can you try that to get you through until you're paid? It's just for a few days. Maybe they won't mind.

It does suck to borrow money, but, it's better to borrow from friends and family then to end up farther into this situation by taking out another PDL. And you don't want to give out your new account information!

CMG Customer Service
10108 Summer Oak LN #103
Las Vegas, NV 89134
P: 1.866.516.9300
F: 1.866.516.9700

NETCASHUSA
314 N. Riverside Dr.
Espanola, NM 87532
(F) (866)922-7401

Ok, with Payday loans prohibited in your state, you need to sit down and write letters to each of these companies revoking authorization to debit your account. I know you have it on a deposit only, but you need to let these people know that they cannot do it. Also in the same letter let them know that you are revoking any authorization for wage assignment, to contact your employer or place of employement and your references. I would also include the state law in your letter letting them know that they are operating illegally in your state. Of course they will end up telling you that they do not have to abide by your state law because they are not doing business in your state, but they are by lending you the money and debiting your account. Also tell them that you will only communicate with them via email or USPS so that you can have written proof of what has transpired to give to the Attorney General's office. Take copies of these letters to your bank, which shows proof that you have notified these places that they do not have permisson to debit your account and take a copy to your HR/Payroll dept. It might be a little embarrassing, but talk to them and let them know what is going on in case these places try to garnish your wages. Also talk to your boss and let him know, in case these people start calling, even though you have told them not to.

From what I can see, 5 of your loans are PIF and 2 you only need to pay them another $25. If these people contact you, let them know that you will only pay back the principal, providing they give you a mailing address to send a MO. Make these things on your terms. If they insist on like a credit card or another bank account, someone had mentioned here in the forum, get a prepaid card and only put on there what you want to pay. This way they do not touch your accounts in any way and can only get what you want them to get.

So i received I call this morning from Webpayday concerning my loan. They wanted to know if I was gonna pay them the remaining balance on my account. I asked how much i borrowed from them and they said 400.00, then i asked how much i've already paid them and they 480.00. However, they are saying that since the 480.00 i paid so far was only finance charges and now because of return payments and additional finance charges, I now owe them 800.00. How could this be possible. I told them that they were illegal to lend in the state of maryland and that they will be getting a letter from me in the mail denying them access to debit my account. The account is already closed anyway. Was i right by telling them im not paying anymore money. Someone help me out.

Stud

Oh, make sure you file complaints with your Attorney General and the BBB on these companies. Do not let these companies intimidate you. They will threaten you will all kinds of stuff from "downloading" your SS#, to the police coming to arrest you, and all kinds of other things. Don't be afraid. They cannot do any of this stuff. Also with PDL's prohibited, they actually know that they are in the wrong and should not be lending in your state. I am in NC and it is the same way here. I just had to stand my ground and for the most part, I refused to talk to these people in person. When they would call and leave messages, I would email them letting them know that I received their message stating blah, blah, blah, and that they were informed that I would not communicate with them in any way except via email or USPS. Stay strong and don't give up. It will all work out.

Yes you were. You have already paid them in full. Do not send them any more money.

Truthfully though, i just kinda guessed that since they were an internet payday loan company that they were illegal. Can someone tell me if WebPayday is illegal in the state of maryland.

I think you are going to find that pretty much all payday loan companies are illegal in your state. If you read the law it says "Prohibited". It means just what it says...no payday loans are allowed. With that one, I would pay the original balance, but like I said, get you a prepaid debit card and charge it up with what you can afford and let them take that, but keep track of how much you have paid them off of it and only pay them back the $400. Same with those that you owe a balance to as far as the original amount you borrowed.

Web PD ~ you owe $400 (nothing else)
TJF ~ you owe $25 (that is the balance)
JD Mtg ~ you owe $25 (that is the balance)
Amer. Cash ~ you owe $200 (nothing else)
Island ~ you owe $200 (nothing else)
Cash in a Wink ~ you owe $165 (that is the balance)

You do not need to pay any more that this.

Well for Webpayday, Ive already paid them 480.00 so they wont be getting another 400.00. is that correct.

That is right, I was looking at what was posted on pge on here. I thought it said that you had not paid anything to them, sorry.

2ndband, I had a question for you. Since I have been reading through Mperez's nightmare experiences with the NYS AG, things have gotten so confusing.

PDLs are illegal (prohibited) in NY as well. However, it seems that when Mperez contacted the NY AG, they told her that certain internet PDLs ARE allowed to lend here and abide by the laws of THEIR state (providing that they are licensed there).

So, my question is, how can they be prohibited AND allowed at the same time?

Sorry if I'm making no sense. My head is spinning from all this info.. :0)

The best thing to do is figure out exactly, to date, you have paid these places and only pay the balance of the principal to them, nothing more. But do try to get addresses for them if possible and do keep copies of everything. This way you have back up if you need it. Do get those complaints filed and those letters written. the sooner the better and get that ball rolling.

Well i thought i hadn't either. I could have missed the debits when i was going through my accounts. I have 11 pdls so it could have been missed. According to them though, i've paid 480.00.

I wish I could answer that one, Jen. Does not make any sense to me either. I would ask them to explain that to you, especially since they say that payday lenders are prohibited. Maybe they are refering to companies like Cash Call or something like that, that is backed by a bank. That is the only thing I can think of. You might want to call them back and ask them to explain it to you and then, please post what you found out. That is interesting though.

Take them for their word! If they say you paid that much, then I would not argue with them at all. LOL

Actually, so far my experiences with the NYS AG are pretty neutral. I filed my complaints, they wrote to me requesting more documentation, I sent it, and they sent me a letter saying they would mediate on my behalf for a possible settlement and adjustment. Now, that doesn't necessarily mean that I will prevail in this fight, but at least it's a start.

Mperez is having quite the battle though. I am inclined to believe that her complaints just fell into the wrong hands, and that there are quite a few misinformed people working over at the AG's offices...

To be safe, I am also going to file complaints with the FTC tonight on all the companies I am having trouble with.

Jen - The thing is that all this pdl stuff is pretty new to state governments. The laws aren't always set in stone, and the interpretations of them can vary greatly. Almost every state I've called has said that internet pdl's are a different animal, and it hasn't really been decided 100% who's laws they must follow. It leans towards our side, and logic says our side is right, but it just hasn't been decided in a court yet. So no precedent has been set. Both sides have valid arguments on why their side is right. These internet pdl's have lawyers, and wouldn't do what they do if they didn't think they could get away with it.

It's not so much that these companies are acting legally, because really they aren't, but it's hard to prosecute a company from out of state.

Once a good precedent has been set, and a court decides that internet pdl's must follow the laws of the state they are lending in, things will change greatly.

2nband - BTW Cashcall is not a pdl at all. It's an unsecured personal loan. You pay x amount each month for forever. The reason they get lumped in with the pdl's is because you pay super high interest for a very very long term. There is a federal law that allows banks to export their home states interest rates to any other state they are operating in. That is how CashCall gets around any interest rate caps. Federal law trumps state law.

Ok.. so they just called again. They said the 480.00 i paid was from 2006 on my first loan with them. So ok, i let them know that i would pay only what they loaned to me and not double like they're askin. Of course like everyone has said, they got really upset and starting talking down to me. But, i held my ground and let them know that they couldn't get a dime over what i was loaned. of course they said they will keep calling and trying to collect. So I just ended the conversation.

That's what you have to do sometimes. These people don't always listen to reason. Pay them what you owe, not a cent more, and be sure to file complaints against them.

Thanks Goudah, I didn't think to clarify it when I wrote it this morning. I knew that they really weren't a payday loan place, but they were backed by a bank. They were the closest think I could think of this morning. Mind is wondering in other directions today.

stud, are you still talking about webpayday???? I'm getting really confused on this thread with all the other posts. Are you saying webpayday called you and wants more money? You took out a loan with them for $400 and they want $480 or $800? Please clarify this for me, stud. I got totally confused with all the other posts on here. I have dealt directly with webpayday and have received a refund. Please post a response to me and I might be able to help!

I got a pdl loan with webpayday last year and paid them 480.00. I recently got another from them for 400.00 dollars. I forgot about the first one and when i talked to them this morning they told me i had paid them 480 already. So i thought that was for the loan i just got. When they called me again, they clarified it for me and said that i hadn't paid anything on this loan. And because of that, i now owe them 800.00. Im going to pay them 400.00 and thats it.

stud, regarding webpayday, you can file a complaint through the BBB at www.bbb.org on them. The BBB will contact them on your behalf. I did this and I got a refund from webpayday for every penny I paid over the principle amount. They did not keep any "fees" or "charges". You actually should get a refund from your first loan. You need to file a complaint with the BBB stating both loans. Make sure you're clear on that you overpaid the first one by $80 and that pay day loans are prohibited in your state. Please file with them. In the meantime, don't give them any money yet. Wait until you get a response from the BBB. Webpayday will respond to the BBB, but it takes time. Then the BBB will respond back to you and let you know what's going on. I got my overpayment refunded. Please file and keep me posted on what's going on! :D

So i just got my first paycheck on monday thru the new bank account. Webpayday calls me everyday asking for a payment that I cant make right now. They say i owe 800.00 and i only borrowed 400. I haven't been able to make a single payment toward the 400 since my check was going to the old account and now i need the money i just got to handle other issues. They say that they can affect my credit. Each day they get upset and hang up the phone on me so today i did the same to them. Can this affect my credit? Im going to pay them off, i just dont have it right now.

stud, honey, to make you feel better - Web Pay Day is one of the unlicensed/illegal companies. I've dealt with them. Do not take their calls. If you get caught on the phone with them, hang up like you did. Good job. They are demanding double the amount of the loan. Yay for them. They can bite you. I filed my complaint through the BBB and got it resolved just through them. And Web Pay Day was the first one to refund me EVERY PENNY I paid over the principle amount. You do not owe them $800. And, no, they can't do crap to your credit. They are an illegal company. I'd love to see an illegal company put a "black mark" on your credit. LOL! Did you file a complaint against them with the BBB?

I just received an email with encouraging words and I think I'll do the same for you.

Deep breath. It will be okay. It is a long, difficult process but you can do it. It has been done before. They are threatening you, because they know they can't do anything else, otherwise they would have already, they are all bark because they have no teeth.

You can do it, keep with it. Congrats on the new bank account, I was worried about my direct deposit getting through on mine. Isn't it a nice feeling having that money go into your account and not have it taken out immediately?

But you are doing good, keep with it!

I just got a call from an attorney's office in florida tell me that there are taking over the case for: CMG Group and TJG Corp both internet companies that i borrowed from. They tell me pay or appear in court. Then I started asking questions. I borrowed 250.00 from each company and now they are telling me I owe 1500.00. outrageous. I told them to answer some questions and they got upset and started telling me that someone is on the way to arrest me at either my job or my residence. Is this possible?

No No No .Calm down no one is coming to arrest you
Scare tactic

Nope - There is a certain collection agency that is in big trouble in Florida . . . Do a search here for Bass and Associates, and you will get a ton of info. These are just hollow threats to scare you into paying. Absolutly nothing would happen to you, and this company wouldn't step foot into a court room, because during that call they violated a bunch of laws themselves!

stud, they're blowing smoke up your butt. Bunch of jerks. Do not let them bother you. Actually, stop taking their stupid phone calls. Tell them to only contact you via email or USPS. This way, they can put all their illegal threats in writing for you. You need documentation of everything. I don't deal with these people via telephone. Only via email or USPS. I want it all documented. This way, you won't be harrassed verbally any longer (hang up on them) and also you will have documentation of everything. Which will come in pretty handy one day.