Internet's first get-out-of-debt community - 136,000 members

Posted: Tue Jan 23, 2007 10:57 am

Hi, I am another one that has gotten in over their head. I have felt like one of those plate spinning acts for a long time now. The problem is, the plates are about to fall, and I don't know what to do. I live in Florida, and I have not seen any posts with advice on how to pay these people off and still have a place to live. Any advice? Many thanks.

Posted: Tue Jan 23, 2007 11:05 am

hear are your state laws...

Posted: Tue Jan 23, 2007 11:06 am

any more help let me know!

Posted: Tue Jan 23, 2007 11:58 am

Jebo,

First and foremost, you need to be able to pay your everyday expenses. You will need to take control of your finances back. To do this, you're going to have to stop these places from debiting your account (which is what I assume they are doing?). You can either ask your bank to block the transactions, which could get expensive if you have several to block. The other thing you could do is to close this account and open a new one, and don't give your new info to any of these companies.

Are these payday loans? If so, are they store front or did you get them off the internet? Most store front pay day loans are operating legally, and you will need to contact them to set up payment arrangements. Many will work with you. If they are internet, you will find that many of these companies are operating illegally, and you would therefore have more leverage with them. According to the laws of your state, which Tasha provided above, they are not allowed to do rollovers (meaning they can't charge you a fee and keep extending the loan). If they're doing this, they're already operating illegally. They also must be licensed in your state. To check for licensure, to a google search for pollyandsay's blog and go to search corporations by state.

If these companies are operating illegally, you need to report them to your Attorney General's office.

Posted: Tue Jan 23, 2007 12:48 pm

Call the companies and put your payment proposals? You will figure out if they are willing to work with you? Take professional advice if you are not able to arrange anything on your own.

Storefront lenders are quite easier to deal in comparison to online lenders. Please put some more info like which companies do you have the loans from? And, how much do you owe in total? How much payments have you done so far? Once you post the info, we will help you in finding a direction.

Take dbaker's advice. She has given out some important tips on how to move ahead.

Posted: Tue Jan 23, 2007 12:49 pm

All are payday loans, and all but one are internet. Some of these I have not been able to even find out HOW to pay back even when I had the money. I am going to check into blocking ACHs or closing this account and then opening a new one. I had some difficulty opening this one several years ago, so wish me luck if I have to go that route.

Posted: Tue Jan 23, 2007 1:59 pm

If you have been paying on the internet pdls for quite some time and all payments were considered "roll over" fees, it is possible you have paid the principal and legal interest rate your state allows back and then some. You need to either block these internet pdls from your account or just close the account and open a new one so you can gain control of your finances back and start paying for your necessities. And if you have already paid these guys back demand they mark your accounts paid in full. You also need to file a complaint with your state's Attorney General's office as well as the AG's office in each state the internet pdls are located.

Posted: Tue Jan 23, 2007 3:18 pm

Thanks to this forum, and the people therein, I find that there is hope for getting out of this nightmare. Thanks so much. I will keep everyone updated.

Posted: Tue Jan 23, 2007 6:18 pm

Hello:

Contact each of your PDLs and request that they assist you in a payment plan. Keep all documentation that you have been paying them and that you had requested payment options. Do not let them tell you that they can't do anything or that they can only take the payment in full or that they want their money in thirty days. Don't let them try to tell you that they will have you arrested because you cannot go to jail for not paying your payday loans.

You may contact many of the debt consolidation companies that are mentioned on this message board to research to see if that option is available to you.

You have to calm down and get your mind together. Then work with the rest. Don't let them to get to you. YOu have made the right step coming in here.

Posted: Thu Jan 25, 2007 12:24 pm

Well, I took the first step today- I blocked all of the ACHs. Now I guess I sit back and wait for the sharks to call and threaten. On the upside, I can pay my living expenses now......

Posted: Thu Jan 25, 2007 12:37 pm

Jebo, Please advise your bank also that they try the paper check routine. These companies also go by so many different names they are hard to block. For instance they will put a check thru dating the check number 1 or 9999 something like that. You may have to close and open a new bank account. KYSIDE38

Posted: Thu Jan 25, 2007 1:38 pm

Jebo, they will also try to debit for different amounts so be very careful. If you send who you have the loans with and the amounts you have paid, we can possibly direct you to template letters to send to them. Don't wait for them to call. You need to put yourself in charge of the situation. I know that is easier said than done, but just last September I was in the same boat. I listened to what this forum had to say and I have climbed completely out of the PDL cycle.

Posted: Tue Jan 30, 2007 9:24 am

O.K.- here's the list, and I did not know how bad it was until I started compiling:
One Step Cash, PayDay OK, CashNetUSA, BMG Group, MTE, Loan Point USA, JD Marketing, Nationwide Cash, PDL Loans.com, Geneva-Roth Capital, Khaki Funding,ameriloan, United Cash Loan, FTR Processing, Premier Processing, Plaza Processing. Hopefully, some of these are duplicates, but I am still an idiot for getting in this deep before reacting. Any info on these people would be most appreciated. Also, are Cease and Desist letters from one state valid in another? (Florida) Thanks to everyone.

Posted: Tue Jan 30, 2007 9:33 am

OneStepCash, Paydayok, JD Marketing all responded and were willing to accept my payment arrangements. ameriloan and United Cash Loans didn't contact me however I was sending them payments anyway. Both of them did however try and pass a check they had made without my signature through my closed account.
FTR Processing sent my account to the Bass & Associates collection agency that is alwasy talked about on this website. Those are the few that I have dealt with and you are not alone when it comes to having several PDL's. I battled 16 Payday loans.

Posted: Tue Jan 30, 2007 10:26 am

Jebo, Paydayok marked my account in full immediately when I sent an email. MTE financial has been ordered to stop lending by the Oklahoma Department of Consumer Credit. MTE is in Oklahoma and does not have a license to lend there. It doesn't matter what state you are in, they are in Oklahoma and lending without a license.

Posted: Tue Jan 30, 2007 2:21 pm

once you make payment arrangements, how do you make payments? Send checks?

*Name:
*Email:
*Phone:
*Zip:
*Debt

	* denotes required field

Internet's first get-out-of-debt community - 136,000 members

More PDLs than income

Members Area

Free Debt Counseling

Ask the community

Also See

Featured Discussions

Featured Articles

Recent Forum Discussions

Recent Blog Post