Indiana - online PDL Troubles

You've come to the right place!!! Everyone here has been where you are, and gotten great help through this forum.........hang in there!!!

If you post what you've already paid on those loans (altogether, including "fees"), versus what the principal of the loan was, you'll get a bit better feedback.

Welcome Harleybarbie...I am from Indiana too. IPDLS must be licensed in Indiana. If you can please post how much each loan was for and the total amount that has been paid on each...we can walk you through what to do.
The 2nd thing we need you to do is please read the info at the top of the page on closing your bank account. You will need to do this to get control of your money again.

Once you have this all together please post your info and we can walk you through the next steps..When I came here I had 10 ipdls...there are many many of us here that came from the same situations. We can help you...your not alone.

Here is the Payday loan laws for Indiana (just select your state),

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

Hi Harleybarbie. Welcome to the forum. Have you thought of closing your existing checking account and opening another one at another bank? This is what helped me the most. Once I defaulted then the interest stopped and it put me back in control of my money. Also, have you called and asked about payment arrangements. This is most likely not going to happen, but it is always worth a shot.

InstantCashLoan 300+90 renewed 1 time
Paycheck Today 300+90 renewed 2 times
Discount Advance 300+26 renewed 1 time
Interim Cash 225+55 renewed 2 times
MTE 300+90 1 renewal
Nationwide Cash 200+30 renewed 1 time
CMG 250+75 had account opened since 10/23/06
Whistler 300+90 had account opened since 7/14/06
B&L Marketing 250+75 had account opened since 6/30/06

OK...sorry but I need a little more clrification...when you say 300+ 90 renewed once...are you saying the loan was for 300 and you have only paid 90 1x on it?? We need the total amount deducted for each one. For instance..on CMG have you been paying $75. every 2 weeks since 10/06?? What would the total amount be?? Bet you have already paid that one off...

When we have all the actual totals we can look at your laws and see where you stand.

harley, please listen to morningstarr. She is in Indiana. You need to do something regarding your bank account. A few of these you have been paying just the "fees" for over a year. Please read about closing your account. Morningstarr will be able to help you.

Give me a little time...I am going to check if any of these are licensed...I doubt it but we need to check...

Yes, correct, I stated how many times I have renewed. And yes, I have been paying on those last three since those dates and still am. I'm scared!!!

Don't be scared....they can not arrest you...they can call and drive you crazy but you have us for support now. Many here have been in a much worse condition and are here to tell the story. List those totals for us while I check licenses. You will be fine...read the info on closing your bank account as that will be your next move...have patience, be back in a little while.

CMG so far have paid $1800 in finance charges
Whistler so far have paid $2790 finance charges
B&L so far have paid $2475 finance charges

WOW, can't believe that and I'm still paying!!

Do you think I can work out something with them, they have more than well got their money out of me!!!

Harley - Don't be scared. Just follow Morningstar's advice. She is from your state and has been through this! She knows her stuff!

Almost all of us here have been in your shoes. We know what you are going through, how you feel, and what steps you must take to rid yourself of these loans.

Ask any questions you have. We can answer. Anytime you want to vent your frustrations, post. We can support you through this!

This thread:

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

Explains about closing your bank account and making sure it is protected from these places. Please read it before you go to the bank.

awww, thank you. I'm worried about the phone calls, the harrassment and everything else that goes with it.

Just know that all they can do is call you and harrass you. NONE of their threats are real. They cannot do anything to you. They are the criminals, not you. You've done nothing wrong.

I would recommend doing a search on this site for the company names you are dealing with. That way you can read other's experiences with them and get a general idea of what to expect. Just be prepared. Have some fun with them. Talk all gibberish or something. Another thing that can be fun is if they say that the cops will be there soon to arrest you, ask them to hold. Come back a minute later and say you have the sherrif's office on your other line and they told you that you can't be arrested for defualting on a pdl, and that it is illegal for the company to threaten you with such. Then tell them you will be filing a police report and they can expect the cops to be at their place of employment in 20 minutes!

Goudah...how funny!! You crack me up...but you are also oh so right!!!

Ok Harliebarbie...are you ready...here we go..believe me...follow these steps and you will party hardy by next weekend.

1. I checked the Indiana DFI...and as I thought I can find no licenses for any of these...all internet loans, right?>? right.

OK. 2.You are going to read the closing bank info and that's your next step...stop paying on any of these and when you have your grand totals we will figure out just who you may owe. Open a new account and give NO ONE that information ever.

3. You will be writing letters to these ipdls revoking their rights to your checking accounts, any wage assignments,demanding they stop calling you at work etc. as required by law. If you have over paid you will say so and ask for a refund. We hardly ever get refunds but it's worth a shot. If you still owe on the principle you will ask to make arrangements to pay it off...in another way besides using your checking account. You closed it and don't have one...if they want their money they will give you another way to pay it off.

4. You will file complaints to the Indiana State's Attorney's office, the BBB and the FTC. Many times the AG's office and the BBB can help you in mediating closure with some of these. I am in that process now and the AG's office has helped me close 3 of the 5 I filed so far.

5. You will swear never to take out another ipdl!! Just joking here bit really don't...I know it made me sick too when I saw what I had paid over a 2 year period...but please you don't have time to be ill right now...now you have to fight to get your control back!!!

Also do as Goudah suggested and search under the names of some of these places and you can see how thye have been handled etc. Post any questions you have....read the do it yourself tab at the top of the page. There is so much info here...you can do this....and we can help you.

Now will they be calling my references and my job and telling them I owe this money? Or can they do that?

Once you revike their right to call they are required to stop. Now that said...these are illegal ipdls and they don't always follow the rules...however I will say out of the 10 I had I only got 2 or 3 calls at work...and they called my son once...mostly thye call when there is no way to get a hold of you. You can always make up a story for work...tell them someone got a hold of your info and opened an illegal loan in your name..you are trying to fight it off so there may be a couple of calls. Please believe me ..we have all lived through this...

I'm in Indiana as well......Listen to everyone on here....they have given great advice and have had luck with their complaints.....I have not had any luck but I've learned it never hurts to try......

Well, I just got off the phone with my bank and they said I could close my account completely and they would open up a new one. Said that it would stop anything from coming out of my account. I need to change my screen name on here, how do I do this?

Oh and one more thing, I can assure you that once I get out of this, I will NEVER, EVER, EVER, EVER get a payday loan again!!!!! I just hope I'm up for the harrassment. You all are so encouraging. I'm just very scared!!!

Make sure your bank assures you that it can not be forced open with the ipdl debits coming through..this happened to me and created a hell storm of nsf charges.

If you must change your name...PM mike and he can do it for you.

HB I was scared to...believe me!!! But when yu hold that first check in your hand and you can start paying your other bills on time and sleeping again at night...you will know we were right!!! You have more work to do...let us know what help you need...you will be fine..:)

Morningstarr is right. I used the "someone opend illegal loans in my name and I am trying to fight them." I also told our switchboard operator the same thing and asked all calls no matter what to be put through to my extension. I have been getting serious cooperation at work. My cell, if there is a number on caller ID, I sotred the number and programmed it to ring sinlent, so I do not hear if they call.

Who's Mike and how do I get a hold of him?

Mike is the admin for the site. Go to this post:

http://www.debtconsolidationcare.com/cajunbulldog/moderate-3.html

And find a post by Mike. Click on the PM button under his post and send him your request to change your username. He will change it for you!

any payday loan taken out AFTER July of 2007........should be considered VOIDED if NOT licensed? Could you doing copy and paste in an email stating that?

Tweety...just tell them they are not licensed and that means they are lending against the law...list the law for them...I also sent a copy of that whole new order...I was told by the AG office that it applys to companies who issue more than 25 loans in a year after that 07/01/07 date. What places are you having issues with??

I need to get a copy of that order.......if its the one you sent me I will use that one...

Nationwide cash
bahmama marketing
m1y direct
access
borrow cash now


I'm trying to do the right thing by validating the amounts but I'm not getting anywhere....

Tweety...they will never tell you the right amount that you owe...can you go back and look at your bank records to see what you paid?? If you are following Indiana law you are only going to pay the principle plus the allowed interest under our state law/minus what you already paid. I think I also sent you my C&D letter didn't I?? And you have the state laws right??

I have the state laws but I do not have the C&D letter..

Okay, where should I start first, closing the bank account or contacting pdl's and ask for arrangements or file complaint with Attorney General's office, I'm a little confused...

Where should I start first?? Close bank account, contact pdl companies ask for options, file complaints with Attorney General's office??? How do I file claim with Attorney General and what do I say? What all needs to be done for correspondence to the pdl companies? I guess I'm all confused.

Close your bank account first. Then file with the AG's office, then write the letters to the pdl's. You can usually file the complaints online with your state AG. Go to their website and they will have a form and instructions on how to fill it out. Just be honest, tell them how much you have been charged, etc.

guest, we can help you! :D Before we tell you where to begin, we'll need a little more information. Are they internet pdl's? Are they storefront pdl's? Which companies are you dealing with? How much did you borrow? How much have you paid so far? And what state do you reside in? If you post this information, we can go from there! :D

Oh, I wasn't thinking . . . . I just assumed the guest poster was the original poster not signed in . . . . But it totally could be another person.

If this is a new person, please provide the info Cannr requested . . . . I can split the post to start you a new thread.

goudah...is this the same person? Now I'm confused! I thought it was a guest posting under this thread!

I don't know . . . . I guess we will have to wait and see if they post again!

Tweety...I am PM'ing you a copy of the letter I used...

oops, yes it's me Bikergirl, can't figure out how to get back logged in... lol

Bikergirl here I just spoke to Langhorne and they told me to close my bank accounts, pay them $100 start up fee, and my fee would be $237 a month while they negotiated, sounds alot better than $345 a week out of my paycheck every week!!! I might start there, any opinions to this?

Bikergirl...there is a log in tag in the very upper right hand corner of the page...

Some people have used Langhorn..if you would rather do that than fight them on your own...you can search them out in the google box to see what others that have worked with them thought.

Bikergirl here... lol
I just got off the phone with Towne and Country they tell me start up fee of $195, then my payments would be $200 a month... Sounds good, just wonder if they can help these things go away.. which they say they can do. Orrrr is this something I can do all myself??? What's your thoughts?

Bikergirl...many of us have done this on our own...I listed the regular plan above in one of the other posts from this morning...I believe there is info there from goudah also. Some people choose to have another company like langhorn or T&C do it...it really depends on you. It is a lot of work to do it on your own...and you will have ups and downs as we all do..but in the end you have to make your own decisions.

Jumping in here real quick! bikergirl, T&C and Langhorne should both send you paperwork stating what they will do,etc. If you have called them and talked to them, they should be sending you something. Get your documents from them. Read them carefully. Then weigh your options. If you chose to do it on your own, of course, we are here to help you. Morningstarr is an Indiana resident and can help a lot. If you get your documents and read them and one sounds good, then do what you consider works best for you. Everyone has their own situation. And you do what is best for you and your situation. There is no wrong answer here. :D

Many here have used Langhorn with success. What they do is have you save up money in a special account each month. Once you have enough in there they begin negotiations with the pdl's to settle the accounts.

Langhorn is a lawyer, and he used to work for the pdl's, so he knows how they work, what pressure to use, and so forth. I have heard that he can be very effective.

If you are still looking for companies to consolidate your pdls, I recommend speaking to the "financial coach" in the customer care of this website. He will go through your debt situation and recommend a suitable company in your area. Call them at 800-601-1579

it's me Bikergirl.... Well I spoke to Langehorne and it appears I will be paying them $1000 dollars plus $29.95 a month, don't think that is what I want to do... Okay guys gonna need ALOT of help here!!! Going to close bank account on Tuesday, unfortunately, I didn't see this site sooner!! $460 coming out of my paycheck tomorrow for fees :cry: But that's gonna be it!! I'm ready to challenge them, yay. Gonna need support, that's fo sure!!!

We are here for you! Let us know if you have any questions, need to vent, etc. Almost all of us have been in your shoes and know what you are going through.

And just think, in a couple weeks you will have your whole paycheck for the first time in how long? It's such a great feeling to get your check and know that you can pay your real bills!

It's me BIKERGIRL.....I found this to be interesting and 5 of my loans were taken out in July, do you think this should help me get out of them?

During the recently concluded session of the Indiana General Assembly, there was a
change to the statute governing the territorial application of the Indiana Uniform
Consumer Credit Code, including the Indiana Small Loan Act. Effective July 1, 2007, IC
24-4.5-1-201 requires internet lenders to be licensed, and to comply with Indiana law,
when making loans to Indiana residents. Additionally, IC 24-4.5-1-201(8) reads ???????If a
creditor has violated the provisions of this article that apply to the authority to make
consumer loans (IC 24-4.5-3-502), the loan is void and the debtor is not obligated to pay
either the principal or loan finance charge, as set forth in IC 24-4.5-5-202.???????