I live in Maryland and I took out 3 payday loans via the internet in June 2012..
$300-pack mgmt (90 finance charge) taken out june 2012
$300-jhs marketing (90 finance charge) taken out june 2012
$300 djr group llc (90 finance charge) taken out june 2012
According to the websites, each loan allows for 3 extensions after which the loans will begin to be paid down in $50 increments, however the companies have been debiting $90 for each of the loans...since JUNE 2012!! I haven't had any luck getting either of the companies on the phone, and I don't know what to do...I've read on some of the other threads that payday lending isnt even legal in the state of MD. I dont want to close my checking account if I don't have to, because its through my credit union and my car loan and everything is financed through them so its just soooo convenient, but I don't know what do...I’ve paid over $2000 on each of these loans to date if anyone has any helpful information please share it.
You’re right. Payday lending is prohibited in Maryland. All lenders in this state are illegal. That means you owe them nothing more than the principal balance. Don’t pay them any interest or fees. Contact with your bank and ask them to block the ACH debit to stop unauthorized withdrawal from your account. Don’t worry, illegal lenders can’t do anything. Ask them for the refund, if you have already overpaid them.
okay
let's read threads shall we?if the post is right then the OP has been paying since 2012 meaning these loans are waaaaay overpaid.you must close your account to stop the debits as these places will debit forever if you allow it.also they will act as if you paid nothing on these as all illegals think that way.if you don't want to close the account draft ACH revocation letters for each pdl and see a manager to get a new account not linked to the old one.btw is the convenience worth the debits as i think your CU should work with you in getting a new account.securing/closing and setting up a new account is the only way to stop the debits.