Internet's first get-out-of-debt community - 123,000 members

Ok, Ive got 10 online payday loans that have been completely eating my paychecks every two weeks. Ive also got 5 storefront PDLs between my wife and I. We have been struggling with these it seems like forever. I have got to save my paychecks... ive paid my bank, (Chase) literally thousands of dollars in NSF fees over the last year. I need to stop this cycle now! I have been reading these posts and am undecided which direction to go. Bankruptcy or credit counseling or trying to work this out myself. All of my other debts have been affected by these stupid PD loans. I know I need to change my bank account, what do I do next? I live in Arizona.

Posted: Sun Jul 06, 2008 2:24 pm Subject:

Welcome. Someone who can interpret the State Laws for you will be along shortly. Please know that you are not alone in this fiasco. We have all been there, and many are still struggling with this issue. In the meantime, perhaps you could give us some additional information who you borrowed from, how much the original loan was for, and how much you have repaid. You have already given your State and the fact that many are internet loans. Storefronts and internet behave differently and again, I will defer to someone who can help you with that. I live in New York and all of my loans were prohibited so things were much more cut and dry. Hang tight. Help is on the way.

Posted: Sun Jul 06, 2008 2:46 pm Subject: Thank you

These are the loans I have:
ONLINE
Netcashusa 500
Cashnetusa 500
EME Marketing 300
SJM Marketing 300
Summit Group 300
Loanshop 300
pdayserv 1000
WF Loan/Line 179.73 (may be paid off)
Northway 1500
Cash Central 300

STOREFRONT
Checksmart 350
Loanmart 190
Check into cash 375

Loanmart 500
Checksmart 500

Posted: Sun Jul 06, 2008 3:15 pm Subject:

Hello fcorvinojr and welcome to the community! Smile

I will be posting your laws shortly, but I need to know how much you borrowed, AND paid back so far. This will help us determine if you are being charged to correct amount of interest and services fees. Thank you. Smile

Posted: Sun Jul 06, 2008 3:17 pm Subject:

Posted: Sun Jul 06, 2008 3:20 pm Subject:

Have you defaulted on any of the Store front loans yet? Because if you haven't, and they are members of the CFSA, you are entitled to the EPP (extended payment plan), that allows you to pay off these loans in four equal payments to fall due on each payday. They will not tell you the EPP is available, you have to ask for it, as long as you ask for this plan one day before your payment is due, you will be eligible for it. I would take care of those first, because they are all most likely licensed to lend. And they have one of your checks as collateral. Smile

Posted: Sun Jul 06, 2008 3:27 pm Subject:

I am researching the Internet loans, and you can do the same two separate ways, you can either place the name of the PDL company in the search box in the upper right hand corner of this forum, and a number of topics will come up on this subject. You can also do search for them HERE. Smile

Posted: Sun Jul 06, 2008 3:34 pm Subject:

Heres what I have so far:

ONLINE
Netcashusa 500 80 every two weeks
Cashnetusa 500 88.25 every two weeks
EME Marketing 300 90 every two weeks
SJM Marketing 300 90 every two weeks
Summit Group 300 90 every two weeks
Loanshop 300 90 every two weeks
pdayserv 1000 250 every two weeks
WF Loan/Line 179.73 (may be paid off)
Northway 1500 1905 every two weeks (pays off and I have to renew it)
Cash Central 300 52.50 every two weeks

STOREFRONT
Checksmart 350 61.25 every two weeks
Loanmart 190 33.25 every two weeks
Check into cash 375 66.18 every two weeks

Loanmart 500 88.50 every two weeks
Checksmart 500 88.50 every two weeks

Ive had the 300 dollar loans since January and February, they just keep re-newing. Most of the others I re-new regularly because I cant afford to pay them off.

Posted: Sun Jul 06, 2008 3:36 pm Subject:

What is the total you have paid each company so far? Smile

Posted: Sun Jul 06, 2008 7:29 pm Subject:

I'd like to close my account this week before my next payday> What can I expect to happen from 1) the bank, 2) the PDL companies? What can a credit counseling company do for me at this point?

Posted: Sun Jul 06, 2008 8:36 pm Subject:

I'm not certain, I have used a Consumer Credit Counciling Service before and it was very effective for me, it was a non profit organization, at that time I didn't have any payday loans though.

Posted: Sun Jul 06, 2008 8:42 pm Subject:

The problem I foresee with closing your account are the outstanding checks you have out there, that's why it's important you work something out with the storefront pdl's first. You can do this on your own, many people have, it's just a matter of finding a good course of action for yourself. But, first and foremost, I would take care of the store fronts, then work on the Internet loans. If you work out a payment plan with the store fronts, you can close your account and not have to be too concerned about outstanding checks, as they won't try to cash them as long as you have made arrangements with them. If you can't close your account right now, then you really need to put a hard debit block on it, so the Internet pdl's can't get to anymore of your money.

Posted: Sun Jul 06, 2008 9:08 pm Subject:

Thank you for the guidance...
Do the storefronts usually work with folks?

Posted: Mon Jul 07, 2008 4:16 am Subject:

The store fronts has to give you the EPP plan, but only if you ask for it, and like I said, they must be members of the CSFA, also, make sure you ask for the EPP plan BEFORE you next payment date is due or you won't be eligible for it. The EPP plan is only in effect if you ask for it at least one day prior to the due date.

OK< I just checked on all three store fronts and they are all members of the CSFA, that means you are eligible for the EPP plan if you ask for it. Smile

callia2 · Posted: Mon Jul 07, 2008 8:14 am Subject: PDL Assistance

I just signed up with PDL Assistance and paid the 200 dollars to them. I already closed my account, and now am getting harassed. The lenders I have are:

Paycheck Today 300 / 180pd
B.I.G. Ltd. 200 /0 pd
CashAdvanceNetwork 300 / pd 180
Loan Shop 300 /135 pd
CashCentral (L&G Finance, Inc.) 300 / 76.03 pd
Amscot (walk-in) 500 / 0 pd
Ameriloan 300 / 270 pd

I live in Florida, and need to know if I should cancel with PDL Assistance and do this myself, or what? Are these loans legal here in Florida?

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