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

Hi Folks,

As most of you know, I am slowly digging myself out of the payday loan trap with the help of a debt consolidation program. I have learned my rights and today it seemed to have paid off for me. I sent a letter (form of debt validation) to one of my payday lenders asking for an itemized statment, breakdown of payments, if they are licensed to loan money in my state. I added a few more things of course. I gave them thirty days to reply to the letter which they did. Shocking huh? LOL! Anyway, today I received an e-mail from them that they consider my first payment through T & C as paid in full. They have not reported me to any agencies either. So another one bites the dust! I needed this good news today since I am fighting with these other ones lately. Very Happy

Posted: Mon Feb 20, 2006 5:12 pm Subject:

Oh! It's so nice to hear something like this. Payday loan is a serious trap and I am glad to hear that you are coming out of it slowly but surely.

Do see this account updated in your credit report if it's there. Be firm with your decision that you will never take a payday loan again once everything is paid off. I wish you all the best in advance. Very Happy

Posted: Mon Feb 20, 2006 5:15 pm Subject:

John,

I've become an advocate of not taking out payday loans. They are quick fix with a stiff penalty. I would not want anyone to go through what I have been through over the past couple of months. I want to see these places get shut down. Since I have not taken one out, I have not had to worry about how I am going to pay one with another. It's a sick cycle to be in but I'm glad I found this forum. It has been a God send to me. I just hope people can learn from my mistakes and not get into this trap. I am keeping an eye on my credit reports and tele-track report.

Posted: Mon Feb 20, 2006 5:32 pm Subject:

Hi Mishele

Congratulations to you on your small victory! Very Happy

You are right! Many people come here in this forum and learn something about which they were never aware. That day will be really great for you when you can say loud that you are out of the payday loan debt. Just wait for that day. It's not that too far! Very Happy

Posted: Mon Feb 20, 2006 5:55 pm Subject:

Hi Mishele,

Congratulations on your success

We all know how hard you have been trying to fix all these. Payday loans are very very expensive cash. It's nice to see you as the winner ultimately. Best of luck Very Happy

Posted: Tue Feb 21, 2006 3:04 am Subject:

David,

It's not my nature to go down quiet LOL! I'm feeling pretty good about things today. It all started with the first phone call with the payday loan lender who told me I had no rights. I was new to the forum and not sure what to do. I spent hours online doing research and found out one of the most important details, the state laws regarding payday lenders. I just refused to be harassed. I'm willing to pay my debts but I'm not going to be threatened by the OC or a CA. I thought sharing my experience might let others know that there is a light at the end of the tunnel.

Posted: Tue Feb 21, 2006 8:09 am Subject:

Mishele---That is GREAT NEWS!!!!!!!!!!!!!!
I am soooo happy for you!!!! see, your hard work is starting to pay off! thanks so much for posting this, its an encouragement for the rest of us that are trying and get a little discouraged at times. Keep up the great work girlfriend!!!!! hug, shirley

Posted: Tue Feb 21, 2006 8:50 am Subject:

I finally found out who BMG Group is. BMG stands for Bahamas Marketing Group. Has anyone heard of them, and if so do you have an address?

Posted: Tue Feb 21, 2006 9:10 am Subject:

Awesome, Mishele!!! One step closer!!!

~Mary Smile

Posted: Tue Feb 21, 2006 9:12 am Subject:

Rock on mishele.... way to go

Posted: Tue Feb 21, 2006 10:32 am Subject:

Great news for you Mishele!!!

Posted: Tue Feb 21, 2006 10:45 am Subject:

Brat,

You can check post of Ben here to get the address of Bahamas Marketing Group-

http://www.debtconsolidationcare.com/forums/about4998-1.html

Posted: Tue Feb 21, 2006 11:21 am Subject:

Thank you Stanley. Now T&C can send the payments to them and get the balance reduced. I received a letter from them today stating that it was imperative to contact them. Funny thing is, they didn't list a phone number or address. How in the world is a person suppose to get in touch with them when they don't supply information to contact them?

Posted: Tue Feb 21, 2006 2:43 pm Subject:

Mishele,

Check your PM I sent you a message!

Sue

That's so great Mishele! i am relatively new to these boards and was drowning last month in (7) loans!!! one was taken to feed the other and so they began to build. really it all started with too many overdraft charges on my bank account one lean month....now, as finally go the nerve to get some help wtih this (Debt consolidator) I also have found stregnth and knowledge in these forums.....pay day loans can bring the smartest person to their knees

Posted: Tue Feb 21, 2006 6:09 pm Subject:

Rkai,

It's easy to get into the payday loan trap but hard to dig yourself out of. I know how difficult it can be but it's worth the fight. There are days I feel like giving up when I get yet another collection call or letter in the mail. I want to get these places shut down and keep others away from these types of loan sharks. I'm going to go after a few more this week who are charging me outrageous fees and see what I can do with this. My counselor at T & C thought I should give a course on this when I told her to remove this one from my debt management program LOL!

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

	* denotes required field

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

A Bit of Good News Regarding my Payday Loans

Members Area

Free Debt Counseling

Ask the community

Also See

Featured Discussions

Featured Articles

Recent Forum Discussions

Recent Blog Post