Internet's first get-out-of-debt community - 128,000 members

Posted: Sat Nov 10, 2007 1:45 pm

I have fallen into the payday loan trap,and now my bank account is in the red how do I get out of this mess. I have one storefront loan (cashland) and two internet loans (paydayok, and payday 1)
I live in ohio and am not sure what to do but I know I need help asap, because of these loans now all of my other bills are falling behind. Thanks for any advice.

Posted: Sat Nov 10, 2007 6:51 pm

Hi Becca. Here are the laws for your state:

Posted: Sat Nov 10, 2007 6:52 pm

becca...do you have a similar post in Payday loans???

Posted: Sat Nov 10, 2007 6:53 pm

Can you tell us a little more? The information we need is: how much did you borrow? How much have you paid so far?

Beccapar001 · Posted: Sun Nov 11, 2007 1:39 pm

This is the only post that I have. For the store front loan I borrowed $650 and I owe $775 on it it will be due in full on 11/19. And for the online pd loans I borrowed $500 on both of them, and I owe $430 on one and $330 on the other one. These are due 11/21, and 11/25. Any help or advice that you can give me would be great. Thanks

Posted: Sun Nov 11, 2007 1:48 pm

This is the only post that I have. For the store front loan I borrowed $650 and I owe $775 on it it will be due in full on 11/19. And for the online pd loans I borrowed $500 on both of them, and I owe $430 on one and $330 on the other one. These are due 11/21, and 11/25. Any help or advice that you can give me would be great. Thanks

Posted: Sun Nov 11, 2007 1:54 pm

Becca...on the internet loans you say you borrowed $500. on each one...how much in total for each one has been paid including the fee's they charge over the life of the loan so far?

Posted: Sun Nov 11, 2007 2:02 pm

becca...also if I remember correctly...internet loans are mostly illegal in Ohio...so don't worry about them right now...I'd like to know how much you have paid them because you might be done with them already ...roll overs also are not allowed so if they are charging you every 2 weeks...all that money ahas to go toward the principle.

With the store front...have you called them and asked to make payment arrangements?? I thought I read somewhere that they have to allow you to pay it off in possibly 4 payments...I am sure someone will correct me if I am wrong. Please read the info on the top of the payday loan page about closing your bank account. You will probably have to do that to stop the debits. Let us know how much you have paid. I know Payday ok...is very easy to work with.

Posted: Sun Nov 11, 2007 6:06 pm

Not all internet loans are illegal in Ohio. PayDayOK and PayDayOne might be licensed lenders. I'm not showing CashLand as a member of the CFSA unless they are using their corporate name. It MIGHT (and I say MIGHT) be Cash America. The only reason I say this is because our Cash America storefront here also has "CashLand" listed as "them". So it wouldn't hurt to call CashLand and ask if they are members of the CFSA so that you can invoke the EPP.

Posted: Mon Nov 12, 2007 8:01 am

Cannr is correct. Internet loans are not necessarily illegal in Ohio.

There are many internet based companies that are legally licensed and lending in Ohio.

Posted: Mon Nov 12, 2007 8:02 am

Payday One is licensed in Ohio, but Payday OK isn't.

Posted: Mon Nov 12, 2007 10:55 am

I believe that cashland is part of cash america, at least that is what it says on their webpage. For the payday ok loan I have paid $200 of it, but it keeps rolling over every two weeks. This one is due again on 11/21. The payday one loan I have only paid $100 on it and it to keeps rolling over every two weeks. The next due date on this one is 11/25. And the cashland one is due on 11/19 for the entire amount. I'm already in the red and cannot afford to pay them what should I do? I am now behind on all of my other bills and I'm starting to get scared because I don't know what to do.