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Posted: Sat Apr 29, 2006 10:52 pm Subject: Payday loan HELL!

Hello, I'm new here. I'm so happy to have found this forum. Since the PDLs are, for the most part, unregulated I assumesd I was SOL. I have so many questions..

First off, I live in Nevada and as far as I know, there are no real regulations governing the PDLs in my state. I currently have 8 PDLs *sigh* and all of them are currently due or past due 'cause I can't pay them. I recently closed my checking account, so they can't direct debit my account. I have an appointment with a friend of the family who works with a law firm and does debt consolidation. I told him I was going to file bankruptcy and he urged me not to before speaking to him. My biggest fear right now is that the PDLs will start harrasing me at work or garnish my wages. Is there anything I can do to be proactive and prevent them for doing those things? Sorry for the long post, but I have literrally not been sleeping and having major stomach problems over this. To make matters even worse, I just got a voicemail message from one of the PDLs that said if I don't come in to renew the loan by Monday, their 'legal department' will take it to small claims immediately. HELP!

Posted: Sun Apr 30, 2006 7:21 am Subject:

da_mous,
Hi! Glad to see you here, you came to the right place, because believe me, a lot of us know what you're going through.
First of all..Relax. you have already taken the first step in being proactive, closing your account and making an appointment to go see someone about this..It's going to be ok. I'll be honest with you, you may get some calls at work, although I found that by communicating with them it really reduced that. As far as garnishing your wages, well, they can threaten you, but they have to get a judgement in order to due that, and that can be tough for a pdl company.
I don't know a whole lot about state laws and such. And It sounds like some of your loans are storefront lenders, another thing I know nothing about. But there are a lot of people here who will be able to help you out a lot. Good luck.

Posted: Sun Apr 30, 2006 8:16 am Subject:

Nevada does require that they be licensed.. Step 1 How many lenders are storefront versus internet based lenders? I ask this for 2 reasons, 1) storefronts will generall y work with you and 2) while internet based lenders are usually nastier, they usually can't really do much as long as you follow a few simple steps

Posted: Sun Apr 30, 2006 10:08 am Subject:

Thank you for the welcome, finsfan13 and jj. JJ, all of mine are storefront PDLs. I've been in regular contact with all of them. What are the chances that they will not call me at work if I ask them not to? I have never avoided them and they have my home and cell numbers. Is there some sort of official request I can make?

Posted: Sun Apr 30, 2006 11:04 am Subject:

i think your chances are pretty good that they'll leave you alone at work if you continue to stay in good contact with them. There would be no reason for them to contact you. They'll call you A LOT at home before they get to that. If the calls at home get really excessive and you don't feel like you're getting anywhere, you could consider a cease and desist letter.

Posted: Sun Apr 30, 2006 4:24 pm Subject:

welcome da_mous.

http://leg.state.nv.us/73rd/bills/AB/AB384_EN.pdf

Adobe file

AB384, specifically AB1 sections 5-14 were adopted 12/29/05. The law requires that the companies give you 3 months, at no additional interest, to pay off the pdls. If you were to default on that payment plan, the most the companies could charge you is prime rate plus 10% interest.

List of licensees in NV:
http://fid.state.nv.us/Qry_CkCashLicensee.asp

The pdl companies can't garnish your wages without first taking you to court. And under Nevada law, the pdl companies themselves must follow the FDCPA, so if you send them a cease & desist letter they must abide by it.

Good luck! It will get easier, just have to get away from the recurring cycle.

Posted: Mon May 01, 2006 7:58 am Subject:

Payday loan lenders will be happy if you are willing to pay them through the consolidation program. If you are in touch with them with the regular updates they won't harass you with their calls.

Don't let your accounts reach past due for a large period. They will be catching up with interest charges and you might have to pay a larger amount. Explain the situation to your consultant who will take care of the account.

teem · Posted: Mon May 01, 2006 4:57 pm Subject: payday loan problems

Hi everyone I'm also new here, I have a big problem also with payday loans. I got stuck in a bind and i filled out for two online payday loans and ended up getting six i'm trying to pay them back but with all the interest fee accruing i can't get ahead on any of my bills can someone please refer me a place that can help, i want to pay them off but i just need some time.

Posted: Mon May 01, 2006 5:24 pm Subject:

Hi Teem

We will be glad to assist you in solving your payday loan problems. It will be great if you can register here and get in touch with our community. Once you are registered, one of the consolidation companies will give you a call back and negotiate with your lending companies. Your accounts will be discussed and you will be offered easy repayment options. Hope this will be one bright step towards improving your credit.

Posted: Mon May 01, 2006 6:03 pm Subject:

I have an appointment for Wednesday with CCCS here in Vegas. I hope my PDLs are willing to work with CCCS and I can get this all cleared up. Man, have I learned my lesson

Posted: Mon May 01, 2006 6:26 pm Subject:

Keep us posted! Smile

Let us know what we can do to help, too!

Posted: Wed May 03, 2006 4:19 pm Subject:

I called T&C this afternoon and spoke with stacy. She seems really cool. Anyway, I think I'm gonna go with them instead of CCCS. Question: Several people have mentioned sending the PDLs something that revokes ACH permission or something like that. Is this something I should do or should I just let T&C handle it? My checking account is closed, btw.

Posted: Wed May 03, 2006 4:35 pm Subject:

can someone please pm the information to t&c i am trying to get out of this pdl nightmare.

Posted: Thu May 04, 2006 8:57 am Subject:

can you please pm me with the info to t&c as well. I have 5 pdl's and they are all payed as agreed thus far. I keep getting another one to cover my bills and the pdl's from the weeks before. So none are getting paid back, only paying interest. I am in over my head and I'd like to get this taken care of before they get past due.

yjockme · Posted: Thu May 04, 2006 9:08 am Subject: I Thought I was the only one

I thought I was the only fool stuck with all these PDL's. Wow I am amazed at the responses I have been reading. Someone please help me. I cannot do it anymore....what is this letter of ACH permission? If I need it let me know. I have registered with the site and waiting on someone to call.