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I have 5 outstanding pay day loans. I'm going crazy because I can't pay them. Is there a debt management program that can help consolidate these loans?

Posted: Sat Apr 07, 2007 1:36 pm Subject:

What state are you in? And are these internet or storefront payday loans? If they are internet you can deal with them on your own.

Posted: Sat Apr 07, 2007 1:49 pm Subject: Pay Day Loans

Hi, I'm in NY. Yes they are internet payday loans. It's kind of hard because of the fees that they charge.

Posted: Sat Apr 07, 2007 1:52 pm Subject:

Payday loans are illegal in NY. They should not have given you a loan. This is the link that will tell you your state's laws. You need to close your account and open a new one to gain control of your finances back. What companies are you dealing with?

http://www.paydayloaninfo.org/states.cfm

Posted: Sat Apr 07, 2007 1:57 pm Subject:

Oh god. I didn't know that. I'm going nuts because I don't know what to do. I can't close my bank account. I'm dealing with pay day yes, us fast cash, national opportunities, world wide cash and another one that I can't remember the name.

Posted: Sat Apr 07, 2007 1:58 pm Subject:

Also, if you have been paying on these loans for some time and only paying the roll over charges, you may have already paid the principal back. You can demand that they mark your accounts paid in full, you also need to file a complaint with your state's Attorney General's office. You will be in for a fight, these companies play dirty and make alot of false threats, they will say you committed fraud and are going to be arrested. Just stand your ground and don't back down. You won't be charged with fraud or arrested.

Posted: Sat Apr 07, 2007 2:01 pm Subject:

I don't know how to go about it. Would you be able to provide me with more details on what should I do?

Posted: Sat Apr 07, 2007 2:39 pm Subject:

In order to stop them from taking money from your account you should open a new one and re-route your direct deposit. You can try blocking them and paying that fee to the bank, but they go by so many different names they will use those other names. You should look up your state's laws with the link I gave above. Go to Polly's blog, you can access it through this site and use her settlement template letter, inserting your state's pdl laws. How long have you been paying on them? It may be you can demand they mark you paid in full. And since they are illegal in your state you are only obligated to pay back the principal. They are going to give you grief in order to scare you into paying them more, don't give in. You must file a complaint with NY Attorney General's office.

Posted: Sat Apr 07, 2007 7:56 pm Subject: pdl

I have pdls that are on my back to pay them back. I dont have the money to pay. I lost my job last month and haven't been able to pay and they try to collect from my account too. What do i do, i live in tx?

Posted: Sat Apr 07, 2007 7:59 pm Subject:

Here is a link to your state's pdl laws, just click on TX on the map. Are these internet payday loans, and which companies are you dealing with? If these are internet payday loans, you should close your account and open a new one if possible. If you are to the point where you can't close it, go to another bank and open a new account and have your direct deposit sent to the new account. You need to file complaints agains the internet payday loan companies with your Attorney General's office.

Posted: Sat Apr 07, 2007 8:00 pm Subject:

Here is the link,

http://www.paydayloaninfo.org/states.cfm

Posted: Sat Apr 07, 2007 9:19 pm Subject: PDLS

If you cannot close the acct and open another one, get the from from your bank to revoke their ACH debits. Please follow the instruction that Steelers1 has given you, he is a great help, he helped me with all my pdls and now I have been able to get rid of 5 of them and some have refunded the overpayment. Figure out how much they have taken out of your checking account you probably have paid the principal of the loan. If you have to fill out the form revoking their ach make sure that you list all the names these companies go by because they can be "sneaky" and if they know the name you gave to the bank they will present the debit again under one of the other names they go by.

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