What did I get myself into

Power, youare well on the way. Please keep us posted as to your progress.You really did youyr homework

Best of luck to you and we have all been there! Its a crappy thing to get ourselves into but sometimes you just don't see any other way to get bills paid!

Power...you did a good job!! Just let us know if you need any other info...

power, i was in the same situation as you, my bank also stated that pdl can force open my account if they tried to get through when you close you account, the best way to handle that is tell the bank your checks were stolen, they will do a permanent close, which means nothing can get through. the bank opened up a new account for me, i had to do it this way. sometime you have to do what you must do to keep afloat.

Definitely be careful...read the notes on closing your account which can be found at the top of the page of this forum...I didn't know what to do and closed my account before I found this site...I ended up with over 1K of nsf charges after the bank "closed" my account for me.

Make sure if you open up another account is is not with the same bank. Those pdl's have a sneaky way of putting ach's through accounts by pulling different amounts. Follow morningstar's advice and read the threa: http://www.debtconsolidationcare.com/paydayloan/close-account.html.

Keep us updated you are doing a fabulous job. Any questions just ask that's why we are here.

ladybug

power, please don't feel bad. This is why we are all here. We had gotten ourselves into the same situation. You've done your homework and you're going in the right direction. You do have to close that account though. And, a lot of banks will let the closed account be "forced open" if there are pending pdl's. If this is the case, you can take your letters revoking all these pdl's from debiting your account to the bank, dispute every single one of the pdl charges, and stay on the good side of the branch manager since the branch manager is the only one who can reverse the bank fees that will add up. Ask them then, since you'll be in the negative until it's all straightened out to put a hard debit block on the account so the pdl's can't hit it anymore, since it'll be open again. You're doing good. Once you've defaulted on the pdl loans, you'll have an upperhand to work with them since they can't get your money any longer. And, if they are illegal pdl's, you will not have to pay the outrageous "fees" they charge you (illegally). Please let us know if you need any additional help. :D

Well I opened my new account today at a new bank. Faxed and/or mailed my letters to the PDL's and closed my current checking account. I also confirmed with payroll that my direct deposit was cancelled.
I am ready if the account is forced open to march in and show the bank the letters. Hopefully all this will keep me from getting into financial trouble with Bank of America because of NSF's.
I have already decided which of the PDL's I plan on making good with first. The one that is licensed in my state and followed the laws. I feel for those reason they deserve that. One other that I feel is the next most legit. The others will really depend on how they treat me as I try to work with them. If they want to make flase threats like I have read about in some of the posts here they are going to the back of the line.
Actually I am looking forward to some of them pulling such stunts. I am pretty quick and I think I can make for a very interesting telephone exchange. I will tape some if I get the chance and post some transcripts if they prove worthy.
Overall though I am breathing a sigh of relief that I am now on course to get myself out of this situation. I dont have to be worried about rent and gas and food for the next month. I will handle this. I will make good on my debts and I hope that once I am succesful I can help others who find themselves in the same place. This site is amazing and finding it really has been a lifesaver. I did not know what to do, what first step to make. You guys showed me the way and I can never tell you how grateful I am.
I look forward to keeping you updated on my journey from the brink.

You've done so well just by reading and learning! You've done great! And now you have control over your money again! That's the main priority! Good job! And you keep that attitude you have! It's a great attitude and you'll need it! We are behind you 100%. If you run into any problems or have any questions once the pdl's start getting in your face, come back and post. We can help you through it. Step by step. But, I must say, you're doing a wonderful job! :D

Power- I am glad you found some help and relief here! It sounds like you are on the way to solving your debt problems. It takes time, but the relief is worth it!

You are right, you will be able to share your experiences with others on this site, and what helped you.

You said you may record some conversations, make sure it is legal in your state!!

Best of luck to you, and keep us posted on your progress!!..Karen :D

I did check and California requires both parties to consent to a recording. From what I heard on here I doubt that will happen. So I will jsut have to keep notes and remember as best I can...because I really plan on having fun with anyone who tries to intimidate me. That is not easy to do...as a Marine (not active...but once one always one)...who fought in both Gulf Wars and Afghanistan they really dont have much chance of scaring me. So I am hoping to have some fun conversations to relate to all of you.
Again thank you so much for the support and advice.

It didnt take long. One of the PDl's hit my now closed account today...three days early. I am guessing this is in response to the letters I emailed and faxed them. It looks like the account stayed closed, at least for now. Also had a phone call with a 555 area code...didnt have my phone on my so I missed it. And what a surprise...no message. This stuff is happening quicker then I expected, but I am ready.

power, a lot of pdl's will start trying to hit your account and contact you via telephone once they receive your letters. Some are "slow" and don't realize what's going on (because they pay no attention to our letters) until their debits are rejected. Yours obviously freaked out & started early! It's actually kind of funny. I pray to God that your account stays closed as they hit it. And, you're a former Marine? Ummm... I really don't think I would want to screw with you! I pity the idiots that try! You go, my friend! :D

I know its early yet but as of 9am my account has not been reopened. And I actually have a check to depositin my new account. When I get home I will start figuring my payments to the PDL's. See who gets nasty so I can move them to the back of the list. Once the phone calls begin I am sure things will get more interesting.

power, congratulations on your first "pdl free" check! However, watch that account with your life! Keep that money! If you need any help with letters, just post. We're here! :D

Well I got my first phone call. It was from Payday Cashlink. Surprise, surprise. The lady I spoke to was totally cool. I told her the situation (I had gotten to deep with PDL's and was going under), told her I had every intention of paying back my loans as soon as I was back on my feet, and asked for the loan documentation and my wish to maintain contach via email or USPS rather then phone calls. She agreed, said she would send me copies of the contracts and that she would settle the debt at $390 (loan plus $90 fee) if I payed in the next 30 days. I know the intrest is greater then what California law allows, but I had decided if they tried to work with me I wouldn'y be a hard--- about things. Since this was not unpleasent at all they make my list of first to get paid. I know not to expect this from any of the others or be prepared for coneclick to get nasty out of the blue, but I will stay optomistic.

Guest is actually me

power, that is wonderful! :D You actually got a pdl that was reasonable! I'm so happy for you! And, I agree with you, if they're willing to abide by your requests, work with you, etc., then you don't really have to be nasty with them. (Even though you may WANT to be!!). You got a good one. Now, hopefully, the others will be this smooth! Good job and keep us posted! :D

Its been awhile since I posted so wanted to update. There has been positive and negative. A couple of the companies have tried to whole criminal track...and they are on the back of my priorities now. I play the game back at them and they dont knwo what to do. When I was told that the police were going to arrest me i asked them what department so i could just go turm myself in instead. Poor guy just started stammering after that. I paid off a couple of the companies that were following California law. And made deals with others. The best was Emerald Marketing. We settled for %30 of what was owed...which ended up being just over %50 percent of the original loan. The fact that THEY made that offer tells me that quite often they get nothing so they are willing to settle for what they can get. That puts the power in my hands and I will use it with the others that remain nasty with me. Anyway I have three of the seven settled now. And the fight continues.

Power-Good to hear from you and good update!!! I really like how you told them you will just go turn yourself in! :lol: Seems like we've had a few posting here lately of pdl's trying the whole jail thing....I guess when someone has no leverage they will say anything!!!

Stand your ground and keep up the fight!

Ok now I get it. Duh Its Tim Watkins Tuesday!!!

We had a special Tim request over on the Lessons Well Learned thread... :)

Power, congratulations. I love your response about turning yourself in. I will have to remember that one next time.

power, you are doing GREAT! Love the statement of turning yourself in to the law! Good for you! Call these jerks on their bluffs! And I'm glad to hear of your settlement, also! You're working them down! Only a few more to go! And we know you've got the fight in you to get them taken care of! :D

WTG Power!! I'm not familiar with PDL's, only from what I've read here. Glad you have 3 down! Must be a relief to be practically 1/2 way there!