Ameriloan Unauthorized Checking Account Debit Internet

My previous comments and information was directed at an individual who for financial reasons needed to file bankruptcy. It was not intended as a step by step instruction manual on how to rip off PDL's. And I never advised that angry consumer take the money and use the law to hide behind.

I believe my advice was that he close the specific account that was overdrawn and if he planned to pay Ameriloan, do it by money order only. And to make Ameriloan accountable and behave in a legal manner. If that is possible for Ameriloan.

I'd be willing to bet money that if you stacked up the amount of PDL's that rip off desperate individuals on a day in /day out basis, against the number of individuals that got away with ripping off a PDL, the crooked and illegal business practices of the PDL's would greatly overshadow the individuals.

When an individual files for bankruptcy and advises the lenders that he owes money to, and provides filing information and his attorney contact information, at that point, the individual is protected by federal bankruptcy laws. And yes, I'm sure all lenders, not just an illegal, unlicensed PDL such as Ameriloan are disappointed that some or all of their money that is owed might be delayed.

I'm sure if an individual had say, an American Express card, that was included in the bankruptcy filing, then upon notification American Express is forbidden by federal law against trying to collect on that debt. Ameriloan, along with the other PDL companies that the individual listed, did not do that. They continued to the point of depleting a bank account.

As to the comments about how much effort Ameriloan puts out, to make sure that they are legally covered on the loans that they issue, please explain if they are so legal and upstanding, why is it that the State of Oklahoma issued a cease and desist order against Ameriloan in January of 2007, and ordered that they discontinue collecting on loans? FYI, Ameriloan is located in Miami Oklahoma, and they didn't even bother to acquire a license to lend money in the state of Oklahoma? Nor in Nevada, where they ran their so called "business" previously?

In fact, when you do your research, Ameriloan is not licensed in any state! So the question would be, why does Ameriloan continue to issue loans, from a state that they have been ordered to stop in? Doesn't sound very upstanding and legal to me.

For that fact, Ameriloan could submit to the bankruptcy court the amount of money owed to them by the individual. But I'm pretty certain they won't go that route. For the plain and simple reason, that they don't want to call attention to the fact in court documents that they are continuing to defy a state order and issue loans. So their only recourse was to debit the individual's bank account.

As far as the helpfulness of a bank to a consumer in this situation, it varies I"m sure. But "bankworkers" comments caused me to call the branch manager at my bank and ask. I was informed that banks don't look at PDL's as a legitimate business for the most part, due to the unsavory business practices that the PDL's use. The manager at my local bank explained that if I were to come in person and explain my situation, he could not promise what help he could offer, but that he would do all that he could to be of assistance and try to remedy the situation. Even to the point of assisting the account holder in contesting the withdrawals. And my personal bank is one of the largest banks in North America. And I'm just an average middle class customer of theirs.

I do have a question, because my curiousity has gotten the better of me. Bankworker, do you happen to be employed by the bank of "ameriloan"? lol

Then how did you get duped? First of all, you can't take money from a company that obviously provides thousands of loans a month to people and expect that they don't have their behinds covered legally. You don't really expect that Ameriloan didn't do their research to find out what practices can get them sued do you? The bad thing about it is you took their money willingly, knowing the terms and conditions, and now you are trying to use the law to get out of paying it. Thats a shame. There needs to be a ripoff report that companies use to complain about their customers that are either high risk or dishonest.

**BTW if you authorize a payday loan to deposit funds to your checking, you then authorize the payment to come out to satisfy said loan. Also banks don't side with customers when disputes are done with payday loan companies; banks loan funds too and they hate to not be paid back either.**

Regarding your comments about reading the contract with Ameriloan and how "angry consumer" should be grateful that Ameriloan isn't suing him?
Let's put a few hard facts on the table, before we jump to conclusions about how strong that contract is with Ameriloan.

Fact: Ameriloan is under the company name of MTE Financial in Miami Oklahoma.

Fact: The State of Oklahoma issued a cease and desist order against MTE in January 2007, expressly forbidding MTE or any of the other DBA names that they go under, to cease and desist all collection efforts in all states, since their lending practices were deemed illegal. In otherwords, MTE and Ameriloan are both unlicensed in the State of Oklahoma and should not be issuing payday loans to begin with.

Fact: Ameriloan is not a licensed legal lender in any state of the United States.
As far as a bankruptcy, I would think that federal bankruptcy laws and whatever protection those laws would offer, would greatly outweigh some little "thrown together, back room contract" that a bunch of crooks at Ameriloan typed up on a word document.

Fact: At the most, if a payday lender is not licensed to do business in your state, whether they are internet based or a storefront, you are not bound to pay them interest. At the most, all you would be responsible for is the principal of the loan and even the principal questionable. Close your bank account, open a new one, and explain to Ameriloan that if they would like the principal back on the loan, you will be sending them a money order and that's it!

People, get a grip. Ameriloan is not as tough as they seem. Send your cease and desist letter certified to their address in Miami Oklahoma. File reports on them with the Attorney General in Oklahoma and also in the state that you reside in. Close your bank account, open a new bank account and NEVER give them the new account number. And when they call to make payment arrangements, stand your ground.
Insist that they send via mail, not fax, not email, only mail a validation of the debt. Also insist and let them know that before they see one more dime out of you, you must see a copy of their license to do business in the State of Oklahoma, as well as a license to do business in the state that you reside in.
They will be angry, they will threaten you and they will lie to you, about all sorts of imaginary things. Like suing you, you're going to jail, cops are coming for you...just laugh and go on about your day.
They feed and grow off of people who are unaware that Ameriloan is an illegal company to begin with. Google Ameriloan and just read all the reports out there.
Good luck, stand your ground and this so called "company" will go down eventually.

How do you think that it is reasonable to think that because you are going through financial difficulty that these loan companies, whose funds you used for your personal gain, are not entitled to the money they advanced you during your time of need? I can understand that you're in a financial crunch, but those sites clearly advise you prior to accepting the loan that they will debit your account by the same method they credited your account. They advise you that payday loans are not long term solutions to financial problems, just a short term fix. They absolutely advise you that bankruptcy does not release your responsibility to repay the payday advances, which is also indicated in the loan agreement. You're lucky they don't sue you, because if they did, they would win.