I live in Iowa and I have 6 internet loans
Cash Advance
United Cash Loans
Payday Ok
Pay day Select
Global financial Services
route 66 funding

I'm basically paying to extend them each pay day so I can pay my rent and other bills. Hardly anything is going towards the principle. After reading some posts I'm seriously considering closing my account and calling them to sent up arrangements. It sounds dumb but I'm kind of nervous to do this. can anyone give me advice or let me know if you've done this and what the outcome was?
Thanks

Go to paydayloaninfo.org and look up your state laws, see what you have paid to these companies versus what you have borrowed because there is a good chance that you have already paid what you legally owe according to your state laws....GFS is a pain in the butt! Just letting you know!

Since Iowa doesn't allow rollovers, I have been extending on all of my loans. Can someone explain what this means?

Daisy - how much money have you borrowed from each company, and how much have you paid back?

that depends on what you mean by payback if I pay a fee to extend it, does that count even thought principal isn't going down?

don't worry about that...just let us know how much money you've paid to each of these loan companies, and the original amount borrowed....

they want you to really believe that those are just extension fees...but they're illegal in your state...so you take what you've paid, apply it to the principle + legal interest... and see what you have left to pay, or what you've over paid...

so again, how much were your original loans, and how much have you paid?

Route 66 loan amount 225 i have paid 585.00

United cash loans- loan amount 200.00 I have paid 460.00

GFS loan amount 200.00 I hae paid 240.00

Cash advance loan amount 200.00 paid 122.00

payday select loan amount 160.00 paid 229.54

payday okay loan amount 200.00 paid 79.29

I put this together kind of quick but it's pretty right on.

Payday Select and Payday OK are extremely easy to work with. At first they didn't want to back down but after I told them the laws for the second time, they offered me a payment plan that I could afford to pay off the principle. Send Payday Select a letter with your state's laws, the amount you have paid, and that you would like your account marked PIF. It might take a couple times but it probably will be taken care of. Payday OK will work with you on a payment plan for the principle. United Cash Loans is not cooperating with me so well but I still owe them $20 on their principle. I don't know anything about the other companies but Leah can tell you about GFSIL. They are not nice to deal with.

The internet paydays are actually not allowed in Iowa so you need to push these companies to mark your accounts paid in full. They need to be licensed to lend in Iowa.

Can anyone give me an example of the letter I need to comprise to send to them?

You are going to have a heck of a time dealing with GFSIL-they are going to call you non stop both at home and work and make all sorts of threats...My advice to you on this one is to not take any of their calls, file a complaint with your AG. It appears from my own experience as well as some others on the board that once they realize that they cannot intimidate you or that they are not going to get a hold of you, they leave you alone after about 2 months(I know its a long time but trust me, once they stop it is a huge relief) also if you still have the bank account assoicated with these loans, close it and get a new one because GFSIL will ignore any and all correspondence you send them telling them to stop taking money from your account!

Also United Cash is a pain any company that is under MTE Financial is a pain and I found out that even though in my letters I told them not to report to Teletrack, Credit Bureau, I found out they have reported me to Teletrack. Does anyone knows or have had any experience dealing with Teletrack about removing this derrogatory information from tyour record as they were loans made illegally?

I wouldn't worry to much about teletrack...the only people who use it are PDL's and other subprime lenders..so really what is it hurting? SO you cant get a PDL? Thats a good thing! Also, I found out that most of these pdl's/and their collection agencies aren't even recognized by the credit bureau

Leah,

How did you find the information out about the credit bureaus not recognizing their CA's?

I was bored one night and was doing searches on the web, I think I bookmarked it at home and if I can find it I will post the link(at work right now) I know it said Bass and Associates, Ellis and Crosby and someone else I Have read about on here are not recognized by them....I will look for it when I get home

Leah did you find the info. regarding pdl and ca's not being recognized by the credit bureau? If all they do is Teletrack is ok I am not planning in getting more pdls! Thanks,