Payday Loans...Iowa...Please Help

Go to your bank and ask them to block the debits. This way, you shouldn't incur any more overdraft charges, and the payday lenders can't try and hit you up with return item fees, as you can show that the item wasn't returned, it was blocked.

There are banks that will let you open and new acct., even if you have been reported to Chexsystems, and there are also financial institutions that will let you do the same online, so it's not the end of the world there.

Are you behind on payments to Eastside Lenders? If you defaulted, that may be why the status shows as collections.

Yes, I am behind w/Eastside. I just don't understand why it shows the balance as that.

Is there a way I can find out what banks would work with me? I talked to mine yesterday and they weren't very nice to me. Told me they shouldn't have given me an acct. to begin with, but decided to since I set up direct deposit.

Thank you for your reply.

I am very sorry to hear about your difficult sitatuion.

Here are the lending laws for your state Iowa (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

You should check http://www.paydayloaninfo.org

to see if these lenders are licensed to even do business in your state. I think the storefronts usually are, but have they been making you rollover your loans?

Why is it that you cannot open up another account elsewhere?

If you register with this site I can send you some information about banks that will still allow you to open an account when you are on Chexsystems.

jelly has an installment loan which is legal. Her store front is more than likely legal also. The only one that probably isn't is Eastside Lenders. So, this is going to affect the whole bank account issue. jelly, the store front, are they holding your check for you until you PIF? Or are they going to turn it in to your bank? The installment loan thru the bank, do they get their payments by debiting your account? Do you have a negative mark on chex systems and this is why you can not open another bank account somewhere else? Please post and we can help you! :D

Ok, first of all...I would like to think I'm pretty computer literate...why can't I figure out how to register on here?

The store is holding my check until I get paid on the 14th. I'll be able to pay them then.

The installment loan is debited from my checking acct.

Apparently I do have a negative mark on chex systems because that is what the lady at the bank told me yesterday. I don't know much about that, so I'm not sure. Is there a way to get that "erased"?


How can I tell if Eastside Lenders is licensed in Iowa? I went to that paydayloaninfo.org site, but I didn't know where to look.

Thank you everyone for your posts!

GRRR...That post above by "guest" was me.

If you have been reported to Chexsystems it stays on there for 5 years. Now that you have registered you can PM Goudah and she can find you a bank that will open an account for you. Can you stop your direct deposit and get a paper check?? How overdrawn are you at this bank, is it something you can pay off??

If jelly's installment loan company is legal and debiting her account for their payments, she shouldn't close her account. Am I correct in this? Her store front is holding her check and she's going to pay that. So that should be fine. They won't turn it in to her bank. But the installment loan that debits for payment - if they're legal/licensed, then closing the account would be an issue? Am I correct in this? Goudah can send you a list of banks that offer people accounts with a mark on the chex system. She's great. But I'm concerned with closing the account if the one company is operating legally. And, did you say Eastside Lenders? Wait. I have to go back and check your post. (Duh.)

Yes, you did say Eastside Lenders. Another one of my "friends". LOL! Honey, they're actually located in Delaware and not even licensed in their own state! I just found this out the other day. It was a joyous day for me! Of course, they weren't licensed in my state, so I checked to see if they were licensed in their own state - that they kept on spouting their state laws to me - and they are not even licensed there! Hello! They are insane!

Ok???????I????????m still not sure how to find out if they (ESL) are licensed in Iowa???????or does that even matter if they aren????????t licensed in their own state. AND, if they aren????????t licensed in Iowa, what do I do next? I can pay $27 to put a stop notice at my bank so they don????????t try to take it out anymore, but where do I go from there? But then again???????I have to have the $27 to do that. They won????????t just ???????do??????? it. Because I????????m overdrawn???????I have to pay it up front for them to do it.

I think I????????m only withdrawn about $200. I will be able to take care of that with my next paycheck.

jelly, just to ease your mind, I checked Iowa. No. Eastside Lenders is not licensed there. They are not licensed anywhere. But they'll give you crap about going by their state law. HA! They aren't even licensed to lend. You need to put a hard debit block on your account. This will keep Eastside from debiting any further. You're in the negative now, so you can't close the account. But you can put a hard debit block on it. Usually Eastside debits under their own name, but too many times do pdl's debit under various names to get around being blocked. So you can't really just block one name. If you do a hard debit block, it won't cost anything (at least at my bank it didn't). But to put a "stop payment" on each transaction will get costly. A lot of pdl's will continue to hit your account over and over if they can't get their money. This will cause major issues at your bank with NSF fees.

cannr - thank you so much for your help!

Ok, now where do I start with the letter(s) I need to send ESL. I see people mentioning the letters, but I don't know if there are forms somewhere, or a list of what I need to do, etc. Can you help?

Is your bank account still open? If so, please read the following thread:

http://www.debtconsolidationcare.com/paydayloan/close-account.html

It expands on what Cannr was saying about the hard block debit.

jelly, I can help you with Eastside. There are letters (there are links on this site). However, you will need to tailor them to fit your situation. Have you registered on the site yet? If you register, you will be a "member" and you can private message people. This way we can pm you information or examples of letters, etc. If you don't want to register, that's okay. Just post and let us know. We can go from there. :D

jelly a debt collector put a hold on my checking account called a memo debit. I dont even know how they got my account number. i proved to them that my income was all disability. how can I stopped from doing this again

disco2 you can read about what a memo debit is here.

Advance America is legal

First Bank of Deleware is a legal installment loan

Eastside is illegal in Iowa as are all internet PDL's

I am no expert here but no one other than your bank can debit memo your account. A CA would need a court order to do this. Can you imagine how broke every one in the USA would be if Collection Agencies were allowed to perform this function? You need to go to the bank in person and get an explanation.

Do you have a judgement against you? If so, they could "garnish" your checking account and bypass your disability check, which is judgement proof.

Let me know about the judgement and I can further advise. FYI, I am in Iowa and familiar with laws here.