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Posted: Sat Oct 27, 2007 6:55 am Subject: Under 5 Payday loans and need help

I currently have five payday loans. Three are through the internet and two are through companies here where I live in Virginia. I'm struggling to make ends meet and I've already figured up that in about four more weeks all three of the internet payday loans are going to be taking a total of about 310.00 of my paycheck.

I only make 500 something and thats going to be a big chunk of it. I'm getting desperate and need some advice on what I can do.

Posted: Sat Oct 27, 2007 7:35 am Subject:

Here are the laws for your state. please let us know who your lendrs are
How much you have borrowed
How much you have paid back to each
As soon as we get this info we can help you

Posted: Mon Oct 29, 2007 4:56 am Subject:

Lazer, are you coming back? There is a way out of all of this.Well, if you need us, we are here.

Posted: Thu Nov 01, 2007 2:24 pm Subject:

Sorry I didn't get back to you sooner but I was trying to figure up everything that I owe.

The two here local is

Advance America, borrowed 200.00 and owe 230.00
Quick Check, borrowed 250.00 and owe 287.50

Internet ones are

BIG Int (or something like that) borrowed 200.00 I think and owe 265.00

US Fast Cash, borrowed 250.00 and owe them the 250.00 plus 75.00 is what they are charging as service charge

Web Payday, borrowed 250.00 and owe them same as one above, 250.00 plus 75.00 service charge

The two local ones are going to be due on the 15th of November, the ones on the internet are coming out today and tomorrow unless I stop them. After that another will come out on the 15th of November as well.

The three on the internet are rolling over and I have paid the service charge already, not counting the ones coming out today/tomorrow.

If I read the rules you put up about the VA laws, are they allowed to roll over?

What I read in the agreement was that it would roll over five times before I actually had to start paying on what I borrowed.

Posted: Thu Nov 01, 2007 3:30 pm Subject:

OK...please try to figure out the exact amount you have paid in roll over fees to the internet loans. Roll overs are not allowed in your a=state and we need to see how much you have given them so far. With store fronts...they are usually legal and stay within the laws. You will need to call them and try to make other payment arrangements. PLease read the notes at the top of the page about closing your bank account. Most often this is the only way to stop the debits form the ipdls.

Guest · Posted: Thu Nov 01, 2007 3:45 pm Subject:

BIG INT so far I have only paid the 65.00 once.....another payment is set to come out tomorrow

The other two is the same. I have paid the 75.00 each once, and another payment is set to come out tomorrow.

I'm going to go to their websites right here in a minute to see if I can get an accurate amount for you. I don't understand all of this, if a rollover isn't allowed then how come they're doing it? And what can I do about it?

So you think closing my bank account would be the best option?

Posted: Thu Nov 01, 2007 3:53 pm Subject:

That comment was from me but for some reason it didn't show me as logged in.

After checking I have payed BIG 65.00 and I have paid us fast cash 75.00

looks like I have paid web payday two payments of 75.00 each

Posted: Thu Nov 01, 2007 5:25 pm Subject:

They do it because none of us knew they weren't suppose to. Most of the internet payday loans are not licensed and since most states took stances on only store fronts they have been able to charge what ever they wanted. Many states are now enforcing regulations against them, forcing them to become licensed or stop lending. You can go to your states attorney's site or what ever passes for your department of financial instiutions and check to see if they have a license. Store fronts generally follow the law and maintain licenses so you will have to make arrangements with them.

Posted: Thu Nov 01, 2007 8:37 pm Subject: reply

lazer, hang on! Your two storefronts - one is Advance America. They are a member of the CFSA. This means you can invoke the EPP (extended payment plan) with them. The EPP is 4 equal payments to pay the loan off in full. The "fees" stop and all collection activity stops. You need to go into the store BEFORE the due date of the loan and tell them you need the EPP. You will then sign an amendment to your loan and they will divide the payments into 4 payments and it'll be paid in full. I am not seeing Quick Check on the CFSA member list unless they are using a "different" name, like the corporate name or something. You need to call them and ask them if they are members of the CFSA. If they are, you can invoke the EPP with them also. Then you can be rid of these storefronts forever after paying them off in 4 equal payments. However, remember you have to go BEFORE the loan due date. Now, your internet loans are all unlicensed/illegal companies. Nice, huh? Your state does prohibit criminal action. You can close your bank account. It's too late now to stop these next debits from hitting. They will already be pending. You need to read the "sticky" at the top of this site page regarding closing your account. Read it carefully. Post any questions that you have. You have come to the right place. I do believe we can help you out! Post any questions regarding the storefronts, the internets, or the bank issue. Very Happy

Posted: Fri Nov 02, 2007 10:38 am Subject:

Getting ready to read the note message now that you said regarding closing my bank account down.

I do have to worry though, what happens after I close my account down? What do the payday loan places do? Does the interest rack up higher?

Posted: Fri Nov 02, 2007 11:11 am Subject:

I've read the message at the top of the topic now and I'm scared to close down my bank account. I don't need anything else to worry about than I already have. I'm afraid of closing the account and then them opening it back up and letting the charges through. I also don't think that they would let me change my account number. If I did whats to say they wouldn't let the charges go through from there?

Posted: Fri Nov 02, 2007 11:23 am Subject:

lazer, the one you put on here as BIG could that possibly be BIG unlimited or cash today ? please let me asap...thanks

Posted: Fri Nov 02, 2007 11:41 am Subject:

I think it is Big unlimited. http://big-int.com/ is their website.

Posted: Fri Nov 02, 2007 11:43 am Subject:

next question, have you ever talked to anyone there and if yes, were they foreign ?

Posted: Fri Nov 02, 2007 11:46 am Subject:

Yeah they sound like they have a Brittish accent

Posted: Fri Nov 02, 2007 11:51 am Subject:

good, here's what I want you to do. first print out 3 letters, 1st one revoking any wage assignment that you signed or may have signed, 2nd a letter revoking any ach transactions being processed against your bank account 3rd letter a cease and desist from contacting you at work/home and to contact you only through email/usps. once you have printed these out fax these to them, keep a copy in a file for your records, make sure on each of these letter that you put the date that you faxed them to the company...once you have done this let me know and I will try to pm you a form letter that I also sent to them that pretty much spells out that they are illegal in your state..please pm me and let me know how much borrowed and how much paid so far...thanks

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