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Posted: Wed Jan 24, 2007 9:57 am

Well when the phone rang and called ID showed UNKNown...I knew it was them....I closed my bank accounts out Thursday...so Friday they could not dip in...Anyhow...I have 2 pdl's and this was the Lady from the Americash Storefront..."did you close your acct's out?". I proceded to explain to her that I had to choose between paying them and eviction...the funny thing is she told me she was in the same boat with PDL's....The PDL lADY IS IN TROUBLE JUST LIKE US....LMAO. Anyhow...she said it is out of her hands in a couple days and will go to corporate...I guess that's when the real problems will begin.

Posted: Wed Jan 24, 2007 10:02 am

Also, I asked her what my payoff was as of today. She told me it was $1534.00. How can this be? I borrowed $1500.00 in October '06 and have to this date paid them $979.00. I need some help as far as how to handle Corporate....don't think they will be so understanding. WHAT WOULD YOU DO? What is a fair and legal amount to agree to pay these people? I live in Illinois....HELP!!!!!!!!!!!

Posted: Wed Jan 24, 2007 11:09 am

candiceann, is Americash a storefront or
internet pdl?

Posted: Wed Jan 24, 2007 11:45 am

I will talk to supervisor of Americash and ask for an itemized statement showing all the previous payments done on this account. You need to make sure that $979.00 is posted to your account. Definitely check whether this company is charging according to your state laws. I assume they are either adding excessive charges or not posting payments on your account because the outstanding balance never got down. If possible, go to their office and resolve the matter.

Posted: Wed Jan 24, 2007 12:24 pm

This is a Storefront loan....thanks Berra that is probably a good place to start. The state laws leave me a little confused...from what I've read under the Illinois state law....is that they are only allowed to loan up to $1000.00 and that interest is only to be $15.50 per $100 loaned.

Posted: Wed Jan 24, 2007 1:10 pm

Here is a full summation of the payday loan law in IL.

Posted: Wed Jan 24, 2007 2:21 pm

Be careful with the storefront loans. From what I had read on this site, they are usually licensed in your state.

Posted: Wed Jan 24, 2007 6:02 pm

Wow, that's amazing that the lady who is giving you the loan is also in the same boat. When I paid out my loan, the man who is the clerk at the office told me that he had to go borrow money from a finance company to take care of something. You will be amazed at the number of collectors out there who know what we are going through because they are going through the same thing.

Be careful of loans, as someone said on this board. Storefronts are harder to get out of, in my opinion.

Posted: Wed Jan 24, 2007 6:23 pm

Storefronts are definitely something to use caution with, when trying to pay them off. Try to work out a payment arrangement with them if at all possible. Storefronts, for the most part, follow the law of the state they are located in, and therefore, have the ability to pursue legal action against you, including a judgement and garnishment of your wages if you don't pay.