EDESC PDL Company

Here is this:

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so this means I don't have to pay them anymore? How does this work? I mean I want to honor my commitment but the company I mentioned turned off their phone and I have no way of telling them I want to pay them off and to stop charging me the loan fee, I think they are doing that on purpose.

thanks for your help on this too by the way. really helpful info.

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EDESA debits under this name for various pdl companies. Do you know the name of the actual pdl company that you have the pdl with? Some of them debit for Cash Borrower, a couple of other names, etc. They just use EDESA as the debit name. If you could post the name of the actual pdl, it would help us better.

okay now how do I go about the process of no longer paying them?

sorry if I sound like an idiot but i'm clueless with this stuff

You will need to close your bank account. Please read this thread:

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

It's got some important info you have to know before you close the account.

Then if you can't get the companies contact info, I'm sure they will be contacting you. You will need to send them a letter stating that per MD law this loan is illegal, and that you request they mark you paid in full. There is also some other stuff you need to include in the letter. Do a search here for wage assignments. You will need to revoke any. Also, you want to revoke any authorization you gave them to debit your account.

Cannr

I think the name was Cash Borrower.

goudah

do I have to close my account? I was just going to do a stop payment until the company actually contacted me so I could work something out, but if the law states I don't even have to pay them anymore I would much rather do that, but closing my account would hurt me more ways than one.

I also plan on doing what you said about sending a letter to all my PDL's i'm using, but they keep changing their websites so I don't have any address on them, this is FRUSTRATING!

it's like they give out loans then disappear, yet we are still on the hook for the payments and i'm LOSING IT!

Well, a stop payment won't work. The company will just use another one of their dba's and hit the account under another name. Or they will produce a paper check for your account and send that through.

Really, the only way to be 100% safe is to close the account.

How would it hurt you? You could have the other things you pay switched to a new account, couldn't you? Is it because of chexsystems?

boogy, if it is indeed Cash Borrower, I have contact information for them. And, yes, you will need to close your account or put a hard debit block on it. They will continue to debit your account forever. Even after you tell them not to. And, as you can see, they debit under a different name. They could try to debit under yet another name, so you can't block just one name. It's a pain, but it's basically the only way to get them to stop. They've been a pain in my neck from day one. They will argue you to death. But you need to prevent them from getting your money. That is the first step, because they will NOT stop. Let me find my Cash Borrower information.

Cash Borrower
Telephone: 1-866-735-6855
Fax: 1-866-735-6856
email: support(at)cashborrower.com
email: cashborrower(at)emailtran.com

By the way, these guys are HORRIBLE. They call and argue and harrass and their emails are horrible. Not to scare you, just to prepare you. You need to prevent them from getting any more of your money.

Closing the bank account: I know I freaked when this was suggested to me. But after you read here awhile and realize all the illegal and nasty stuff some of these ipdls and collectors pull...I am very glad to have a new bank and a new account number...and I give it to no one ever!!! This is the only way to know for 98% sure the Ipdls or any other illegal collection activity will not have your numbers.

If you need help finding contact information on pdl's, let us know who you can't find. I'm sure someone here has contact information on them.

I know closing your bank account sounds like a drastic step, but trust us, it's sometimes the ONLY way to completely stop the debits by a PDL. They are very shady and will do just about anything to gain access to your money.

We've been in your shoes, and we had to do the same thing to get out of the PDL cycle and get control of our money again.

sorry for taking so long to respond but I got piled on at work today, but I guess I will have to suck it up and close my account.

I was kind of leaning on going to one of those debt consolidation places instead, but it seems to me that if i'm paying people that can't hurt my credit and are ILLEGALLY doing business, then I shouldn't worry about paying them right?

but I feel like i'm in the wrong because I did agree to the terms of the paydayloan and I feel like i'm not doing good business if I just stop paying them all together, does that sound stupid of me?

boogy, that is the question of the board! That's asked many times! Everyone has different opinions. However, you can pay the principle amount of the loan if the pdl is unlicensed. That way you'll feel better about yourself and not guilty and not like a thief. Pay the amount they deposited into your account. Not the fees/extensions/rollovers/etc. - anything that's illegal. That way, you've paid them back what they loaned you and you're even. Then you won't have to "feel bad". :D

Closing your account is a big step and is not easy for some of us. Usually it is the first step and that is the hardest. You do not sound stupid. That has been a well discussed issue on many threads here. Many have said, you have to do what you think is best and right for you. My own two cents, you have to look at you in the mirror every day..do what you can live with and what you think is right. Everyone here may not agree with what you decide (you don't have to tell us what you decide either) but I have found they will support you no matter what your decision is. Listen to what everyone has to say. They have all been there and are quite varied in opinion and experiences. Use what they say and formulate your own plan, ideas and opinions.

Ok... off my soapbox.... Good Luck!

I think I will do that, just pay them back what they deposited into my account, the question now is do I go thru one of those debt consolidation companies listed here to do so, or if not what should I do?

Also let me take the time out to say a big THANK YOU to EVERYONE who responded to this thread, I assumed I would be looked at as an idiot who wants to get out of paying money but you all are VERY nice and helpful GOOD HEARTED people and it's refreshing to know people like you all still exist in the world. I have lost lots of sleep and have had huge arguments with my wife over not being able to pay certain bills on time because of this fiasco with the PDL's and I feel like such a loser.

Sorry if I sound a little emotional as i'm sure everyone has their own problems as well, it's just that i'm not used to anyone giving a dam or actually helping me solve these problems!

thanks again Guys and Gals! I love you all for this!

Thank you! We help others here because we all know the special hell these pdl's bring. Most all of us have had or are going through our own pdl hell.

Now to your question - I wouldn't go through a debt consolidation company just for the pdl. Since it is illegal, and you only have to pay principle. A debt cons company may be a good idea if you have other debt you'd like to consolidate, but I would recommend handling the pdl's yourself. It's cheaper and i think you'd have better results. There is a ton of info on this site to help you, and all of us to ask any questions you may have. And there are no stupid questions or stupid people. If you call yourself stupid for getting into this mess, then that makes us all stupid. People make mistakes, that just means you are human. Payday loans are not called predatory lenders for no reason . . . . .

It is really up to you. Taking care of this yourself is also an otion. I am sure if that is what you decide the others will help guide you. (I am relative new and am still learining my own situation) They have helped me alot and I am working on 7 internet pdls and am doing it without a consolidation company. No loosers here just people who lost their way for a little while.

Goudah thanks A bunch for the info!

As far as just paying the principal, do I contact the PDL's directly to do so? How do I intiate that process?

boogy, you only have one pdl??? Is that correct? And it's the illegal/unlicensed one??? If this is the case, we can help you. You don't need to pay someone to take care of this for you. Please let us know if this is the only pdl you have. Is it Cash Borrower? How much was it for? And how much have you paid? If there are other pdl's involved, please let us know.

Here's my opinion about paying on payday loans - You should ONLY pay what is legally allowed in your state. But if you borrowed the money and live in a state where they are illegal you should pay back just the prinicple.

If not, then you are exactly what these pdl's need. They can then claim that they must charge these high rates and use these intimidating tactics to collect because the people they loan to are deadbeats and won't pay. It's counter productive to what we want - These places closed down or more tightly regulated. While every person's situation is different and there are always exceptions to the rule, I feel that it's always best to pay back principle. It the morally right thing to do. In most states, legally you would not have to pay back a dime, but the problem is that most state's pdl laws are very gray, and until you have throughaly researched the laws, and the company you are dealing with it's not a good idea to assume the company is illegal and you don't have to pay. There are loopholes and other "industries" the pdl may be exploiting, and they may be operating legally but it's not so obvious.

Think about it this way - These places are businesses. They do have lawyers. The majority of them are not going to risk their money unless they feel they have their butts covered to some extent.

Jay - First thing you need to do is figure out if this is Cash Borrower, or another pdl. Then we can help you find the contact info if you need it.

There are also some examples of letters you can send to the pdl, letting them know they are breaking the law and that you aren't paying anymore.

Also, you need to file a complaint with your Attorney General's office asap. You can usually do this online. But first you need to know the company name.

It may be a good idea to contact your bank and see if they have any other info on who has been debiting your account. They should have a phone number or something.

No I have 3 PDL's

UsFastCash, CashBorrow, and NetCashUSA

$300, $550, and $450 are what the original amounts of the loan I received from each.

I have been paying on all three since the month of April.
I only get paid from my job twice a month and i don't make a lot of money, so it's gotten to the point where they now take $50 or more paydown out of my check in addition to the normal fees, which is leaving me dam near broke check to check. I can afford to pay just the principal but I would prefer all my payments be monthly instead of EACH check.

Goudah

one of them is DEFINITELY Cash Borrower, I got confused at first because they debit under EDESC or something like that, my bank couldn't even find any contact info on them which REALLY scared me! it's like they are a ghost just taking my money.

Yeah, none of those are going to be legal in your state. File complaints with the AG's office for each company ASAP.

Out of 11 PDL that i told to hget the hell out of here, not one of them hit my account after that. A couple of them sent me the email saying payment was coming due and i sent them an email saying taht thet owuld constitute wire fraud which would be a matter for the scret service. they did not actually debit my account again.

Ain't that grand - But I wouldn't count on that not happening.

Seriously here, except for those working for pdl's and trying to diseminate disinformation to try and confuse members, you will not here from any person that has actually gone through pdl hell that the pdl's didn't try to debit their account. Especially with 11, I just don't believe that could or would happen.

I seriously doubt ANY company that lends money in any form will just stop trying to get their money by any of us just simply saying i'm not paying you!

lol

good luck with that!

These lenders are predators. They are sharks, and they WILL NOT stop calling you , because you tell them to. Please follow the advice you get from Goudah, and do not get confused by incorrect posts. There is a lot of very valuable information on this site.

boogy, listen to goudah. They're illegal. Cash Transfer Centers is horrible. They're one of mine. They will hound you to absolute death. And, no, the pdl's will not just "stop debiting". I wish!!!

You Go Girl.

Goudah,

Do I actually contact the PDL's and work out a payment plan? If so have you ever heard of them letting you pay them off monthly, instead of bi-weekly with just the principal as i'm sure I have already paid them the principal at this point.

Yes, that is what you would try to do if you still owe them money.

Most of the time they will tell you that they won't accept anything but payment in full. But what many have done is just send every month what they can afford in a money order. The company is going to cash it.

But if you have already paid them the principle in fees and such, then you really don't owe them another cent. I would send them letters saying that per MD law this company is acting illegally and you demand that your account be marked paid in full.

There are some examples of letters to send if you'd like to look at them.

I worked with this company under the name of Instant Loans Now. EDESC is who debited my account. I placed a stop on their ACH to get them to work with me. They would take nothing but the full amount. I sent them a money order to be paid in full. I even paid all their stupid fees. The $200 loan ended up costing me $340 (not including the $300+ I already paid in their fees). Even after giving them all their money, they took $130 out on a Friday and $70 on Monday. They had no explanation. I did get my $200 after talking to the bank they sent the ACHs back and we closed the account.

Don't feel stupid for not paying these people. You have probably paid them over what is allowed anyway.

Goudah


Yes I would certainly like to take a look at the letters you are referring to, including a sample letter to the PDL to no longer authorize ACH.

I DEFINITELY have paid back what I borrowed so far which is $450, and I am going to go ahead and put a stop on their ACH and then send them the letter.

After reading so much of the info on this board I feel good in knowing i'm not just borrowing money from the PDL's to turn around and screw them over, because I have paid above and beyond what I actually borrowed from these people.

thanks everyone, I feel better about it now.

The best template letter is here

Others have some copies of what they sent. If you need them too, ask and they will PM them to you.

And think about how much better you will feel when you have no pdl's to worry about at all!

good stuff, now I just got to find all the statutes and codes for the state of Maryland and i'll be on my way!

i'm donating some more points your way too Goudah!

Has anyone found an address to Cashborrower.com or EDESC or whatever they call thereselves? I want to send them this letter ASAP!

These slimey creeps, I finally found another phone number and I tried to get them to send me the original loan documention and she flat out told me NO!
LMAO can you believe that, I don't think I ever got any to begin with, they are REALLY slick at trying to covering their tracks!

To find the Maryland codes it's kinda wierd. What you do is go here:

(http://michie.lexisnexis.com/maryland/lpext.dll?f=templates&fn=main-h.htm&cp=)

Click on Maryland Codes.

Click on Commerical Law

You will see all the ursury caps and interest rate codes there.

Thanks for the points! Very nice, but you don't have to do that. I help for free! :D

This is the info I have. They have several PDL under them. Phone for collections 866-735-3413. The address I sent my payoff to was 223 West Bulldog Blvd, Provo UT 84604.

Good luck.

Thanks Goudah, and don't worry about the points, i'm sure i'll never use them and you are a big contributor here so why not put them to good use!

by the way hope some points for you to, I couldn't find an address anywhere for this sheisty company!
thanks

Does anyone have any other numbers for cash borrower or edesc, I tried all of the numbers and none seem to work?

Okay, boogy (and also guest). I've been going back and forth with Cash Borrower. They are scum. Here's the information I have. And it's a lot because they give you such a run around. They try to hide. But they sure do come out of the woodwork to threaten! (They also go by Dollar Quick and Advanced Business Services LLC and who knows what else).
Here you go:
Cash Borrower
1460 Westwood Boulevard
Los Angeles, CA 90024
Phone number BBB has: 1-866-702-7484
Phone number left by them to me: 1-866-735-6855
Phone number they called from: 1-678-303-0590
Phone number for collections: 1-866-651-6512
Their HATEFUL THREATENING email came from:
support(at)cashborrower.com
And, when I called and asked for a physical address, I was hung up on. I can not stress how these people will give you the run around. I am still amazed at them. I filed complaints with every agency and then filed again. They are horrible. I hope this information helps everyone!

Thanks for the contacts cannr, I finally got a hold of someone at the 702-7484 phone number. I called the same number and said I had a loan from cash borrower and they said they couldn't find me in the system. today I called and said I need help with my loan, didn't say who it was with, and they found it? Either way, I think I have it taken care of, thanks!

Awesome! It sounds like you are off to a great start! Keep us updated!

I used the same company and also cant find ANY contact info, boogiejay, did you end up having to really close your account or did they finally stop debiting cash from it? In the same boat as you with the payday loans. Worst thing ever.

I'm sooooooooo glad some of my information helped! You don't know how I want everyone to "get" these people! LOL! I still can not believe what a total run around they gave me! I'm just glad I documented it all, every word, every phone number, every name. Sure does come in handy when filing complaints and helping someone else get in touch with them! :D

Oh man Cannr that is sooooooooo true, they REFUSED to give me an address, and in so many words said what are you going to do about it? I think they could tell I wanted their address so I could send them a letter.

THANK YOU MUCH CANNR! POINTS COMING YOUR WAY!

Yes Meggs I closed my account on Wednesday, and those jerks still debited my account but my banker was really good with helping me out and sent back all the fees that this caused and opened up a new account for me in the same day!

Now that I got the addy for cash borrower I will send them the letter, now I need the addy for NetCashUSA and UsFastCash