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 Posted: Sun Jul 08, 2007 7:51 am |
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Hello,
I live in Indiana and currently have 5 payday loans out. As I have read here already, many of you know all of my paycheck is going to the fees, etc. I did have 8 loans out and have paid three of them back.
The ones I have left are
Check N Go
Pay Day To Go
United Cash Loans
500 Fast Cash
and CMG-who I don't even know who they are, I never electronically signed anything with this one, I had applied for a loan with another company and somehow I received two loans the next day into my account, I never found contact info for CMG group to call and question them.
I have looked up the local laws for Indiana, and basically it states that you can only have 2 loans issued at a time, and no rolling over. Well I have 5 that keep rolling over.
I know I need to close my checking account, but I am really scared as to what is going to happen after that. As far as are they going to keep calling my employer, my references, etc.
These were all internet loans.
I have been reading about Langhorne as well, and wonder if they would stop the harassing calls from coming through. Thing is, I could eventually pay all of these loans back, I make decent money, Just got into a bind that snowballed. But I can't pay anymore of them back with them taking all their fees out every paycheck.
If someone who has been through this can help me I would be forever grateful!!!
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Shellym842
Joined: 08 Jul 2007
Posts: 3
Debtcc Points: 100
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| Posted: Sun Jul 08, 2007 8:18 am |
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Shellym--
First, you said you don't know who CMG is. Contact your bank and ask them to trace who the name of the lender was that deposited that money in your account.
_________________
BROWNSUGAR!!
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brownsugar
Debt Samaritan
Joined: 08 Oct 2006
Posts: 1408
Debtcc Points: 13964
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| Posted: Sun Jul 08, 2007 8:22 am |
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Well on my bank account it shows CMG Group, LLC
I was also wondering, If it is illegal to roll over in Indiana, can the fees I have been paying every two weeks go towards the principle?
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Shellym842
Joined: 08 Jul 2007
Posts: 3
Debtcc Points: 100
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| Posted: Sun Jul 08, 2007 9:04 am |
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Definately give Langhorne a call. I know in my case, they did stop the harassing calls. See what they say.
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kscornell
Moderator
Joined: 22 Jul 2006
Posts: 3604
Debtcc Points: 32836
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| Posted: Sun Jul 08, 2007 9:10 am |
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Shellym,
Here is contact information for CMG/OSL Marketing
10108 Summer Oak Ln
#103
Las Vegas, NV 89134
P 1-866-516-9300
F 1-866-516-9700
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bflow30
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Sun Jul 08, 2007 9:40 am |
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Thank you very much bflow!
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Shellym842
Joined: 08 Jul 2007
Posts: 3
Debtcc Points: 100
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| Posted: Mon Jul 09, 2007 8:03 am |
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Shelly ~ you need to sit down and write each of these people letters stating that you revoke authorization to debit your account, contact your references, your employer or place of employment, and any wage assignment. Send these via email or USPS or both, but when using USPS, make sure you send it certified or registered with return receipt. Take copies of these letters to your bank to show proof that you have told them to quit debiting your account. You may want to consider closing your account and opening another one. Stop any direct deposits, etc. Take control of your money so you can pay for the essentials such as food, housing, car, etc. Also take a copy to your employer so that they will be aware of what is going on and can help with the phone calls and make sure HR sees them too. That way they can know not to do anything as far as taking money from your paycheck to pay these places.
How much have you borrowed from each of these places?
How much have you paid each of them back?
Provide that information and let's see where you are at as far as these places are concerned. Also check to see if these places are licensed in your state. 5 to 1 they probably are not.
Hang in there, you have come to the right place for help, advice and encouragement. Many of us have been where you have been and have gotten or are working on getting ourselves out of that mess.
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2nband
Moderator
Joined: 30 Jan 2007
Posts: 2151
Debtcc Points: 40008
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| Posted: Mon Jul 09, 2007 4:35 pm |
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I am replying as a guest because I can't log in for some reason 
This is what I have
500 Fast Cash-$300 loan-paid $270
CMG Group LLC-$300 loan-paid $270
United Cash Loans-$300 loan-paid $180
Pay Day to Go-$250 loan-paid $62.50
Check N Go-$1500 loan-First payment is 7-20
As you can see I am not deep in yet, but as I figure out my finances for the next month or so, I realize there is no possible way I can pay everything.
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Shellym8422
Guest
Debtcc Points: 100
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| Posted: Tue Jul 10, 2007 5:20 am |
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Trust me, you have to take action now and close your bank account. I got so far behind on bills because I was scared to death that I would go to jail, I paid the PDL's and not my normal bills. I was paying everything a month past due and my vehicles got far enough behind they threatened to come and get them. I am just now starting to catch up. I was putting out right out 680.00 in refinance chargesevery two weeks. Right there is my car payment money, LOL!
Close that account right away. Just make sure they won't force it open if debits come through, my bank are butts and they will still allow items to clear for 30 DAYS!!!
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bflow30
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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