Help us get control of payday loans!

Hi Krichards - welcome to the forums! You've come to the right place for some help.

First, here is the law pertaining to payday loans in Ohio:

You will find the Payday loan laws for Ohio here (just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Now, sit down and make a list of all of the payday loans you have, and post the following info for us, so we can help you out:

-What company each loan is with
-How much you borrowed (principal only, no fees)
-How much you have repaid on each loan
-Whether each loan is internet or storefront based

Armed with that information, our members can offer you some helpful advice on how to get out of the endless cycle of payday loans. Most of us have been there, to some extent, so you are not alone - we came to this site looking for help, found it, and stayed to help others! :-)

give me a little time to get all the info together...thanks!

Quick Cash Direct $300 paid $584.50
AIP $200 paid $534
Cash Today $200 paid $350
Financial Process $200 paid $399.50
World Wide Cash $200 paid $356
1st Bank of Del. $300 paid $177.18
Payday Loan $200 paid $56
Coastline Cash $350 paid $89.95

Any info would greatly help!

Thanks

I forgot to mention the above loans are internet based.

Okay, 1st Bank of Deleware is going to be different from all the other loans you have. They are an FDIC insured bank, and federal law allows them to import their interest rates from their home state. It also allows them to lend anywhere without a license. So they are going to need to be treated as if they are a storefront.

The other ones I doubt are licensed anywhere . . . . Is one really just called "payday loan"? How generic of a name!

What do I do if they are not licensed? "Payday loan" is how it appeared on my bank statement so I will have to look into that one. What are the next steps we should take?

AIP, Cash Today, and World Wide Cash are not going to be licensed/legal.

I don't mean to sound stupid, but if they are not legal/licensed what can I do to stop them? I have paid all three of these companies what they are owed plus some and they continue to "roll-over" the loan and take more fees from our account. Should we close our account and stop all ACH debits from the account? Thanks!

Krichards...the first five if they are internet loans...looks like they are paid in full or close to it (you can figure based on your laws how much you should have paid for each loan)..the 1st bank of Del. you are going to have to contact, explain your situation and see if you can make other arrangements. Maybe since you will stop paying on the internet ones...you will have enough to close them out. The last two, again if they are internet based, you do owe a little principle but all in all it looks like you are in good shape. The first thing is to make sure they are not licnesed any where. You can look on your state consumer site (mine is located with the Attorney Genral site) and see if any are listed. Cannr already said 2 were not. Once you have verified they are not licensed...and you have made arrangements with the bank one...then you need to take control of your money again. For most of us that meant closing our account and opening a new one at a different bank. After that is taken care of you will need to send letters to all the ipdls stating your laws and revoking their right to your bank debits, wage assignments,etc. We can help you with that also.We suggest you file complaints with the BBB, FTC and the AG of your state. They can be very helpful in issuing letters to mediate and close these accounts.

After you digest all this come and ask for any info you might need....someone will always be here to help. Good luck!

Thank you! That explained a lot. I will contact the bank one today. Is there some type of template I can use for the ones that have been paid according to Ohio law? Would you think it is safe to close my bank account today? I know I will have to still put a stop ACH debits into place at the bank...they allow accounts to reopen if an ACH comes through in the first 30 days. Also, I am going to try and locate an address for these companies, but does anyone have an address for any of the above. Thanks again! This is the first time I have felt like there is some hope with this situation.

First, go through your loan documents and see exactly what they say - as far as the name of the pdl and any address or telephone number. If you can't find that information on your loan documents, go the the BBB site (www.bbb.org) and put in the names. The BBB should have addresses for them. Check those two things out first and I'll be you find some of the addresses. If you can't find them all, post again and we can help search for them. The "paydayloan" one is really weird. See if there's a name on any documents you have. Your bank - the one loan you have through the bank - do they debit your account? If so, you will need to contact them and tell them you & your bank have "issues" (whatever you want to say) and that they closed/blocked your account. Make sure you contact them though. You don't want to get into trouble with a legal one. You're account can remain technically "open and active" if you put a block on it. If your bank policy is to let pending ACH debits through for 30 days after closing it, then there's almost no point in closing it because the pdl's are going to hit it again and again within 30 days. See if you can put the hard debit block/hard hold on it. But, please check with the bank one. Just to be on the cautious side. We don't want to see you getting into any trouble with a legal company.

I called AIP today and asked for their physical address...I didn't state why I needed it. The girl I spoke to quickly stated they fall under England law. Am I correct in saying that doesn't mean a thing since I live in Ohio? How can they fall under England's law if the address they gave me is in Wilmington DE? Also, I saw an example of a letter someone had sent to all of their IPDL's on this site, but not I am unable to find it. Can someone point me in the right direction? thanks

kri,
American International Processing, LLC
2207 Concord Pike
#419
Wilmington, DE 19803
Phone: 800-274-4159
fax: 800-441-6383
Mr. Richards
Customer Service
This is who responded to my complaint with the BBB. I got it resolved just through the BBB. They refunded me every penny I paid over the principle amount of the loan. Did you file with the BBB? If you haven't, do it now. Many other members have had good luck in getting refunds just through the BBB. AIP acts upon the complaints from them.

This may be another stupid question, but should I file the complaint with the BBB here or in Deleware? Thanks again!

Never mind I found it...thanks!

Did you mean you found the BBB? Or that you found contact information for AIP? Because you can just go to the www.bbb.org website and file the complaint. It gets routed to the correct BBB (which would be Delaware).

Sorry, I found the BBB website. I am in the process of filing complaints againist all the companies. Thanks.

Good! If you need any help, just post! :D

Does anyone have the address for Quick Cash Direct? I have a phone # of 866-343-7217, but when I Google it nothing comes up but their website with no address. Thanks

I went on the site, found nothing. Googled it, found nothing. Went to the BBB, found nothing. Gee, think they're trying to hide? LOL! :lol: Do you have your loan documents at all? If so, look at them carefully. There should be some sort of address for them on the documents.

I wasn't sent any documents. This is one of those companies that does everything over the phone..."state your name and today's date". I'll try calling the number and ask for an address. If I get any info I'll post it for anyone else that may need it. Thanks

Oh, crap! This was a "verbal agreement" via telephone? Oh, Lord. Here we go! kri, let's just say this is illegal. No wonder we can't find any information on them. LOL! They're going to be hard to file complaints on, but I did it with a pdl that was a "verbal agreement". You will have nothing in writing. You will probably not have an address. However, they will continue to try to debit your account. See if you can see what "name" they are using to debit. Is your account blocked/closed?? I don't remember. Call me stupid! But do not let them get to your account any longer. I wasn't aware it was a "verbal agreement" pdl. Oh Lord. These are mainly overseas pdl's. Illegal.

I have my account blocked from all ACH debits. They are using the name QuickCashDirect to withdraw from my account. I'll keep everyone posted on the outcome of this one!

Do keep us updated! You gotta love the "verbal agreement" pdl's. They can be the most ruthless of all, because they are the most illegal. Keep on posting! :D

Okay...I tracked QuickCashDirect to a company call CashCorner.com based out of Chandler AZ. The only address they would give was a PO Box. The man I spoke to wouldn't give me his name and stated he wasn't allowed to give teh physical address. Has anyone had to deal with CashCorner.com?

kri, the only listing for Cash Corner on the BBB is the one below. They are listed as a pawnbroker though. Don't think this is them. Gee, maybe not even "real"? LOL! I'm going to do a google search and see if anything comes up. The fact that he refused to give you a physical address is a big caution sign. These "verbal" pdl's are usually overseas (usually) but they have a US "drop box" for mail, which is usually a PO Box. The mail is then forwarded on to wherever in the world the illegal pdl is. It's a front. But here's what the BBB has (the only one). But, like I said, I don't think it's them. And I'm doing a google search now.
Cash Corner
15353 Stony Plain Rd NW
Edmonton, AB T5P 3Y6
Telephone: (780) 413-7566
Fax: (780) 483-2765

Okay. Cashcorner.com has a website. I just looked at the FAQ's on it and found this:
Loans are currently unavailable to residents of CO, CT, FL, GA, ID, NC, NJ, NV, NY, OK, PA, and WV.
Your state's not listed on there; however, this means nothing actually. Your pdl may be completely different than this one. This is why it's all sooooo confusing. Look at how many different names these pdl's go by! Kills me! I'll continue to google. But cashcorner.com has its own website.

Okay. Here's what else cashcorner.com has to say. Basically, they will "match" you with a lender, who obviously is the pdl with the other name. Just for your info.:

Just wanted to give everyone an update...Financial Processing has offered me a refund:) AIP on the other hand has stated they will continue to debit my checking account (even though they have been advised they no longer have permission) and if they don't continue to receive payments they will charge my with "stealing".

First off, congratulations on the first one! Good job! Second, WHAT???????? AIP is giving you a hard way to go??? They are one of the easiest to deal with. I'm in shock here. Okay. First of all, they can no longer debit your account, correct? Second, did you file a complaint with the BBB on them?

No they can no longer debit my account. I sent them something in writing, gave a copy to my bank and stated they were no longer allowed to debit in my complaint to the BBB. I have not heard anything back from the BBB as of today. Actually, they called me yesterday (AIP) and I had advised them again they could no longer debit my account. The girl I spoke with first hung up on me and then called me back in about 5 minutes stating they would overlook my next payment, but would continue to debit starting again on 9/7/07. I told her again they no longer had authorization and that is when she told me they would file charges against me for "stealing".

kri, send you letter to AIP again. And refile with the BBB. I know they allow a company a certain time period to respond. But, I'm a hound. Send AIP your letter revoking their debit authorization again and put in big huge letters across the top SECOND/THIRD NOTICE! And file again with the BBB. Shoot. I would. I can't believe this. Because once the BBB gets them, they usually react like little angels and give refunds.

Thanks...I'll keep you updated.

My response from the BBB. This was a letter to the BBB from AIP. It was from:
American International Processing LLC
2207 Concord Pike
#419
Wilmington, DE 19803
Phone: 800-274-4159
Fax: 800-441-6383
To the attention of the BBB service rep that was handling my complaint.
They stated they processed a "particular loan" (you like that?) for me. They said it was not solicited. The stated the loan amount and admitted they received a complaint letter from me. They then said that I had requested a refund and that the refund was processed on such&such date. They then said the account is now closed and marked paid in full.
It was from Mr. Richards in Customer Service. I'm sure there's no one named "Mr. Richards"; however, I don't care. This is what they sent the BBB after I filed my complaint. Hope this gives you hope regarding AIP! :D

I received an answer from AIP!! Looks like I received the same letter as you did from Mr. Richards in Customer Service. They stated I would receive my refund in 10 days! I'm still fighting with Quick Cash Direct. Right now it's just a lot of emails going back and forth.

Congrats! :D

kri, yahoo! I'm so glad you received that from AIP! I think a lot of people have been filing complaints against them. Congratulations to you! :D

I had a loan out with 200cash.com and thought that it was pif. Looking at my paycheck today they have started to garnish my wages. I had signed the wage assignment when I had taken the loan and signed my husbands name (with his permission) and faxed ti back to them. I show no court case against me. Am I right in saying this wage assignment is not valid?

Help!! Does anyone have an answer on this? Thanks!

kri, you were not notified at all by anyone regarding any wage assignment or wage garnishment? It just suddenly "disappeared" out of your paycheck? Does it state what it was for? Did your employer say anything to you? I'm pm'ing goudah on this one, too. Hang on.

Are you saying that when you took out the loan you sign a wage assignment? If yes, have you revoked it?

It may be perfectly legal for them to do this if you signed it and never revoked it.

For wage assignments you do not have to be notified like with a garnishment. Since they are "voluntary" it is assumed that you know about it already.

So, apparently, kri's employer received a wage assignment and honored it. Apparently did not notify kri regarding any of it, and now kri's check has deductions taken out for this. kri, you said you did sign a wage assignment and faxed it back to them. However, when you did your letters revoking debit authorization, did you happen to put in that letter that you also revoke any wage assignment that you have signed?

It was a loan I had thought was no longer an issue...I had thought it was paid in full. Can I revoke the wage assignment now? I saw in one thread that a wage assignment has to be signed in person. Is this correct?
Thanks

It would depend on your state laws what the requirements are for the assignment to be valid. So far everything I'm finding concerning Ohio makes this one look like it's valid.

Once the assignment has gone into effect, it can be very hard to stop. I would contact your employer and tell them the you are revoking the assignment. They may just stop, but if they don't you may have a huge fight on your hands.

Here's the laws for Ohio regarding wage assignments:



Okay, aren't those contradictory? One is saying they are valid, and the other is saying they are only valid for child support, notwithstanding the first one!

It looks like I'm going to be fighting...my employer states they are liable for the amount if they don't take it from my check. The paperwork that was sent to them does not show how many days I'm in "default" nor was I ever notified. This wage assignment was also not signed in person. Is it still valid? Thanks for your help.

It doesn't have to be signed in person.

kri, you said that you thought that you were PIF. Did you recieve any kind of PIF notification from them???

I'm going to have to look through old emails. Everything was done via fax/email with this company. I believe I did.

If you can prove that this loan was PIF, then you have a good case to stop the assignment.