I have many outstanding payday loans out and have

I have many outstanding payday loans out and have defaulted about a month ago when my finances crumbled beyond help. At this time my Bank of America account (2 checkings) are a combined $1600 overdrawn from multiple attempts at debit and fees. I am in California and have loans out with zip19, mypaydayadvance, unitedcashloans, checkngo, cashnetusa, discountadvances, Ameriloan.

On a couple of the loans I paid a couple rollover finance debit only before I defaulted. I just set up a 3 payment arrangement with cashnetusa as they seem legal based on small finance charge. and hoping check n go will make arrangement. But are these companies legal in California. What should I do to help my banking situation. I do not have funds to cover this. Should I dispute debits and hope for relief on the fees. These places have me stressing out with harassing calls and relentless rejected debits that I cant pay.

I appreciate any help!

9 Answers

In the state of Texas after like 5 months of going default they can give a warrent for your arrest and call it check fruad. But most of them let you make payment arrangements no matter what.


Thank you very much for your responses. I was accepted for a 3 installment payment plan for cashnetusa and hopefully Check N' Go will also do the same. For the others that are illegal in California hopefully my bank will work with me and reverse charges. I am going to calculate how much fees these companies have charged me over the times I had re-loans with them and subtract that from the last loan that didn't go through to overdraft. And then send a letter that states that I overpaid on previous loans and that will be deducted from outstanding loan and I wil not pay any fees or charges when we have no legal binding contract and I was defrauded by them in the first place. Does this sound doable?


Thank you very much for your responses. I was accepted for a 3 installment payment plan for cashnetusa and hopefully Check N' Go will also do the same. For the others that are illegal in California hopefully my bank will work with me and reverse charges. I am going to calculate how much fees these companies have charged me over the times I had re-loans with them and subtract that from the last loan that didn't go through to overdraft. And then send a letter that states that I overpaid on previous loans and that will be deducted from outstanding loan and I wil not pay any fees or charges when we have no legal binding contract and I was defrauded by them in the first place. Does this sound doable?


Thank you very much for your responses. I was accepted for a 3 installment payment plan for cashnetusa and hopefully Check N' Go will also do the same. For the others that are illegal in California hopefully my bank will work with me and reverse charges. I am going to calculate how much fees these companies have charged me over the times I had re-loans with them and subtract that from the last loan that didn't go through to overdraft. And then send a letter that states that I overpaid on previous loans and that will be deducted from outstanding loan and I wil not pay any fees or charges when we have no legal binding contract and I was defrauded by them in the first place. Does this sound doable?


I am in CA also they can only charge 15% of loan for finance. And roll overs are not allowed. I am dealing with ameriloan, and united also

. So far no help from them. Also if you call department of corporation he will just tell you to file a complaint.


Since most of the lenders are illegal in your state, so you are required to pay back only the principal amount. Ask them for the refund, if you have overpaid them. Close your bank account asap. Look at this page to know how to tackle illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallende...
 


ZIP 19 - illegal

United Cash loans - illegal

Ameriloan - illegal


After checking the site I think I find that Check N' Go and CashNetUsa are the only one that are ok in California. So I sent emails for them to cease all collections from my checking account which tomorrow I hope to have closed once I go into the bank. I am currently at almost $1700 as of tonight. Is it possible for the bank to reverse these fees once I ask for that since these companies are not legal and never had the right to take funds based on a voided contract that caused my severe overdrafts.


In order to know whether or not your payday lenders are licensed to operate in your state, you need to contact the California Department of Corporations. For example - Ameriloan is illegal in most of the state. If you find that they are illegal, then you can pay them only the principal amount and get rid of the debts.


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