Swynn,
Welcome to the site. You have a couple of options. You can close your account and open a new one or you can place stop payments on the payday lenders, but that can prove to be costly. Also, the lenders can use another name and code in order to get the funds.
Also, have you tried contacting the lenders to work out some type of repayment plans.
Talk to your bank and see what options you have. I know sometimes people are not in a situation were they can just close thier account right away like myself. I didn't switch my direct deposit in time so I just had my bank put one big block on all debits from my account. Liked mentioned above if you just stop payments on the amounts or the company names, sometimes they will change the amount or use and affiliate name. Also you can prepare a letter to your PDL's stating that you are revoking authorization to make any further debits from your account. If you fax or send them a letter certified make sure you save a copy to show your bank.
Please also go to paydayloaninfo.org and check out your state laws on payday lending. Also file complaints with your state Attorney Generals office the more complaints that go in the better. Payday lending is prohibited in several states already hopefully the New Year will bring more. Best Wishes KYSIDE38
Check your state laws and calculate the total payments done on each of the accounts. If you have been sending money since long time, chances are that your accounts are already paid by now according to the laws and you are not aware of it. In that case, you will have to write letters to your pdls for marking your account PIF.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Debt Samaritan
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Swynn,
Welcome to the site. You have a couple of options. You can close your account and open a new one or you can place stop payments on the payday lenders, but that can prove to be costly. Also, the lenders can use another name and code in order to get the funds.
Also, have you tried contacting the lenders to work out some type of repayment plans.
Posts: 1674
Credits: 27721.7 Send message to PinkLady
Talk to your bank and see what options you have. I know sometimes people are not in a situation were they can just close thier account right away like myself. I didn't switch my direct deposit in time so I just had my bank put one big block on all debits from my account. Liked mentioned above if you just stop payments on the amounts or the company names, sometimes they will change the amount or use and affiliate name. Also you can prepare a letter to your PDL's stating that you are revoking authorization to make any further debits from your account. If you fax or send them a letter certified make sure you save a copy to show your bank.
http://www.idfpr.com/dfi/ccd/ccd_licensees.asp
ILLINOIS PAYDAY LOAN LAWS
http://www.paydayloaninfo.org/state_detail.cfm?id=IL
WISCONSIN PAYDAY LOAN LAWS
http://www.paydayloaninfo.org/state_detail.cfm?id=WI
WISCONSIN LICENSE SEARCH
http://www.wdfi.org/fi/lfs/licensee%5Flists/
Posts: 2379
Credits: 39902.25 Send message to KYSIDE38
Please also go to paydayloaninfo.org and check out your state laws on payday lending. Also file complaints with your state Attorney Generals office the more complaints that go in the better. Payday lending is prohibited in several states already hopefully the New Year will bring more. Best Wishes KYSIDE38
Posts: 305
Credits: 10411.75 Send message to Howard
Check your state laws and calculate the total payments done on each of the accounts. If you have been sending money since long time, chances are that your accounts are already paid by now according to the laws and you are not aware of it. In that case, you will have to write letters to your pdls for marking your account PIF.
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