I need help with taking back my paycheck!

Ok...here's the payday lending law for Oklahoma:
( Select your state, I know you said you printed it, but just for the sake of reference...)

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

As you can see, rollovers or renewals are not permitted in your state. So lets tackle how much you've paid on these loans and see if you've overpaid on some of them, or paid in full.

Platinum Cash Now borrowed $400 Paid $150.
(you owe this company $290 - $400 loan +$40 allowed interest = $440-$150 pd = $290)

Tremont Financial borrowed $400 Paid $360.
(you owe this company $80 - $400 loan +$40 allowed interest = $440-$360 pd = $80)

Purpose Loans borrowed $300, Paid $342
(you owe this company $3 - $300 loan + $45 allowed interest = $345-$342 pd = $3)

Loan Point-Geneva Roth Borrowed $300 Paid $540
(you have overpaid this company by $155 and should request to be marked paid in full and request a refund of $155. $300 loan + $45 allowed interest = $345. Pd $540-$345 = $155)

Paycheck Today, Borrowed $300 Paid $320
(You owe this company $25 - $300 loan + $45 allowed interest = $345-$320 pd = $25)

Payday Cashlink Borrowed $300 Paid $220
(you owe this company $125 - $300 loan + $45 allowed interest = $345-$220 pd = $125)

Cash advance.net Borrowed $300 Paid $460
(you have overpaid this company by $115 - you should request to be marked paid in full and request a refund of $115. $300 loan + $45 allowed interest = $345. Paid $460-$345 = $115 refund due)

Payday Select Borrowed $400 Paid $660
(you have overpaid this company by $220 and should request to be marked paid in full and request a refund. $400 loan + $40 allowed interest = $440. Paid $660-$440=$220 refund due)

PaydayOK Borrowed $400 Paid $560
(you have overpaid this company by $120 and should request to be marked paid in full and request a refund of $120. Loan of $400 + $40 allowed interest = $440. Paid $560-$440=$120 refund due.)

Impact Cash Borrowed $300 Paid $360
(you have overpaid this company by $15 and should request to be marked paid in full. Loan of $300 + $45 allowed interest = $345. Paid $360-$345=$15 overpayment.)

USA PayDay Borrowed $300 Paid $410
(you have overpaid this company by $55 and should request to be marked paid in full and request a refund of $55. Loan of $300 + $45 allowed interest = $345. Paid $410-$345 = $55 refund due.)

Fast US Cash Borrowed $300 Paid $475
(you have overpaid this company by $130 and should request to be marked paid in full and request a refund of $130. Loan of $300 + $45 allowed interest = $345. Paid $475-$345 = $130 refund due.)

500 Fast Cash Borrowed $300 Paid $360
(You have overpaid this company byu $15 and should request to be marked paid in full. $300 loan + $45 allowed interest = $345. Paid $360-$345=$15 overpayment.)

Cashnet USA Borrowed $400 Paid $200.
(You owe this company $240. Loan of $400 + $40 allowed interest = $440-$200 paid = $240)

These calculations are based on the Oklahoma law shown above, and on paying back the principal amount borrowed, plus the interest allowed by your state law.

I hope this helps. You need to file complaints on any of these companies that are not operating legally in Oklahoma. Here's the licensee database for Oklahoma:
http://www.okdocc.state.ok.us/ROSTERS/rosterDDL.PDF

Here's where to file a complaint:

http://www.okdocc.state.ok.us/complaint.php

As far as your bank account is concerned, I would go to a manager, swallow your pride, and explain the situation in full to them. Advise them that you cannot possibly get your account straightened out when these companies keep debiting you, and ask them to block ALL ACH debits from your account. If you have other payments that come out by ACH debit, find another way to pay them until this gets cleared up. If your paycheck is direct deposit, ask your employer to issue a paper check until you can get control of this situation. If they won't do that, get a prepaid debit card (Mastercard prepaid debit cards are available at Rite Aid and Walgreens Pharmacies), and have your paycheck direct deposited to that card. (Yes, you can do that.) Then you can use the debit card to pay bills, get groceries, withdraw cash from an ATM...just like you would a checking account debit card, without the risk of overdrafting your account any further.

(I thought I'd better add this after I posted this, sorry for the edit!)

If you have bills hanging over your head like car payments, mortgage/rent/housing payments, food, utilities about to be shut off, or other IMPORTANT basic daily needs - PAY THOSE FIRST. I know it is easier said than done when the PDL's are bleeding your bank account dry, but trust me - they don't care! The PDL's don't care if you have a roof over your head, a car to drive, food on your table, or clothes on your back - they just want their money - and won't stop taking it until YOU stop them from doing it. If it means rearranging your life temporarily so that your paycheck is not going into your bank account and being sucked right back out again by PDL's, then do whatever is necessary to regain control of your money, and then start working out payment arrangements with any PDL's you still legally owe under your state law.

I hope this helps - please post any questions you may have.

suebeehoney70,,

wow, that is an awsome thing you just did for that person, your so kind. just wanted u to know that.

thanks Lukeskywalker! Just trying to help out...seemed like she needed some info on those loans..it could be really confusing! :D

great job. your an angel.

:oops: thanks! :-)

:lol:
SUEBEEHONEY70 YOU REALLY GIVE A TERRIFIC INFORMATION
HERE.
I ADORE ALL YOUR POSTS.

Thank you Tania! You're such a sweetie! :-)

Suebeehoney70, that is really great info! Do you know if that is a complete list of all lenders licensed in Oklahoma? (I am also from Oklahoma) If my internet lenders are not on the list, does that matter? What does that mean?

meekshrn - do you mean the list I posted or the Licensee Database? If you mean the list that our original poster on this thread posted, no - that's not a complete list, it's only the ones she's dealing with.

If you mean the Licensee Database I mentioned for OK - then yes, that is a complete list of lenders licensed to do business in Oklahoma.

Follow the link in my earlier post to access the Oklahoma Licensee Database for payday lenders licensed in OK. If they are not on the Licensee Database, then they are not licensed.

You will find internet lenders that allow you to do rollovers in OK - most likely they are not licensed - OK law prohibits rollovers.

Thank you!! I am new to this and am trying to figure out how to pay what I owe without letting them bleed my account dry.

meekshrn -

if you would like help, we'd be glad to help you out. Just post the information like the original poster did on this thread - name of the company, how much you borrowed, how much you've paid back, and whether they are internet or storefront lenders.

With that information, we can help you figure it out. Or, if you would rather, you can use the law shown above for OK to figure out how much interest is allowed per loan ($15 per $100 borrowed on loans up to $300; $10 per $100 borrowed on loans $301 to $500).

Let us know if you need any help!

I posted that info in a different area yesterday. I believe you responded to me initially. I'm not sure how to tell you where I posted it, though.

Ok, I'll find it and post there...when you are looking for it, go up to the menu on the left side of your screen and look for "my threads" and click on it...that's where you'll find anything you've posted.

Thank you!!

meekshrn - I've posted info to your other thread.

Sue bee Honey--you are awesome! When I think of all the time you took to figure these amounts out--WOW. I am going to the link you posted to see if they are licensed and to the other link. Can I file a complaint on line? I had just been printing out the copies of complaints for the AG office and all documents for each complaint and ran out of ink and paper after getting three done! Needless to say, I don't have the money today to buy more ink. I just can't thank you enough! I will see about getting a prepaid debit card, too. There is no Walgreen's or Riteaid around here, is there any other place I can get one? Thank you, thank you!

your local currency exchange

I'm not sure about where else the cards are available, but check any large chain pharmacy store - similar to Rite Aid or Walgreens.

If you can't file complaints online (not sure if you can), go to your local library and use a computer/printer there. Sometimes they charge for use of the printer, but it's cheaper than buying ink and paper yourself.

and you're welcome! :-)

Suebee...you are an inspiration!!! Super job...

thanks Morningstarr! :-) I LOVE being able to help someone in a bad PDL situation - it's very satisfying to see them get out of that hole and in charge of things again!

You can't repay any of them anymore. revoke authorization to debit account. the bank can't force open your account to allow an unauthorized debit to your account. if it's unauthorized and it will be after your letter revoking, they bank must restore the funds and NSF fee in 24 hours. electronic debit transfer act.

where can I get my suebee, wished I could get one at the store.

NINI DC

The plain and simple fact is that a bank CAN force open your account for an ACH debit - and yes, you can get the money back, but you have to go to the bank to do it - so why bother with the run-around which costs you time and gas in your vehicle. Also, some banks will not honor a request to block ACH debits - we've seen it happen.

Close the account if at all possible and be done with it.

Why are you saying the following:

Quote:

sorry lukeskywalker...they broke the mold...I'm one of a kind...and many would probably say they don't quite know WHAT kind...
;-)

i have plenty of super glue, no problem suebee

:D

Please pay attention to suebee's post regarding your bank account. And also read the "sticky" at the top of the page regarding "Closing Your Bank Account". Yes, banks can "force open" a closed account if there are pending pdl debits. It's happened to 100's of people. Some banks won't even let you close the account, depending upon your situation. Bank accounts are a very touchy subject. Each bank has their own policy. Just because you revoke the authorization to debit your account does not mean the pdl will just stop debiting. We could only wish this was true. You need to find out from your bank how they handle this type of situation. Sometimes you can close it. Other times you have to just put a block on it. Sometimes the bank will let the account be "forced" open up to 30 days after closing it. This is why it is very important to find out from your bank how they handle the situation.

Yes, many of us have had major headaches when dealing with our banks. If only it was as easy as Nina proclaims . . . .

Members on this site have researched the bank account issue thourghaly. While yes, in theory unauthorized debits have to be returned, it is a pain, and if it can be avoided then it should. Plus, the "unauthorized debits" have contracts saying you give them authorization. Plus they've been debiting your account for who knows how long. Some banks have trouble understanding that.

As Cannr said, each person's situation is different. Two people in the same state may need to handle their situations completly differently. There is no blanket advice that works for everyone. I've seen many people here take no so great advice, and come back later complaining about all the bad things that happened. Especially regarding bank accounts.