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I have 6 payday loans online. I also have 2 locally in stores. These two I have put on payment plans but I cannot afford to pay for all of these. What can I do?

Posted: Sat Aug 11, 2007 3:00 pm Subject:

meekshrn -

Hi and welcome! We're glad you're here. Smile

Can you please tell us the following info, so we can try to offer you some advice on this?

-state you live in
-names of the lenders you are dealing with
-which lenders are storefront and which are internet
-how much you borrowed from each one
(principal only, no fees)
-how much you have paid each one so far

Armed with this info, we can offer you some solid advice on how to get out of the payday lending trap.

Posted: Sat Aug 11, 2007 3:02 pm Subject:

Suebeehoney, you were too quick in getting back to meekshrn Smile

meekshrn, are the rest of the lenders internet lenders?

Posted: Sat Aug 11, 2007 3:06 pm Subject:

suebehoney70 asked for good info. shes on target so let her rip

Posted: Sun Aug 12, 2007 6:13 am Subject: Payday loan help

I live in Oklahoma. My two storefront loans are with National Kwik Cash for $500(I have been paying the fee to renew this loan each payday for over a year but I recently put it on a payment plan and have made one payment, I now owe around $424) and First American Cash Advance for $500 (I have also been renewing this loan each payday for over a year and just put it on a payment plan, My first payment hasn't come due yet).
The internet lenders are Your Choice Cash for $300 no payment has come due yet, B.I.G. for $200 no payment due yet, PaydayLoansYes for $350 no payment due yet,GetCashMan for $350 no payment due yet, PPGC for $300 no payment due yet, NationwideCash.com for $300,I have renewed this loan one time by paying the $90 finance charge.
I would appreciate any help or ideas, this is the stupidest thing I have ever done in my life and I have no idea how I am going to pay for all of these!

Posted: Sun Aug 12, 2007 6:20 am Subject:

I am posting your state laws for OK. The store fronts need to be handled differently than the ipdls. So you will have to make payment arrangements with them first before you do anything with your bank account.

Posted: Sun Aug 12, 2007 6:20 am Subject: meek

I'm posting Oklahoma pdl law for you to see. As you'll notice, no rollovers are permitted in your state. Which means all the rollovers/extensions the internet ones are going to put on your loan are prohibited. Your payments should go towards the principle of the loan. No "fees/extensions". You'll also notice criminal action is prohibited. Don't let them think you're going to be arrested or anything! Your store fronts are the most important. You've already got a payment plan going with them. This is good. However, now I'm concerned with your bank account so that you can take care of the internet pdl's before they all start hitting your account. Are the store fronts holding your check until you pay it off? Or are they turning them in to the bank?

Posted: Sun Aug 12, 2007 6:21 am Subject: pdl law

Posted: Sun Aug 12, 2007 6:36 am Subject: Payday loan help

The storefront lenders are holding my checks as long as I go in and make my payments when I'm supposed to. Each time I make a a payment, I write them a new check for the new amount owed minus the payment I just made. I have been with both of these companies for a long time and am on good terms with them so they should work with me. Thank you for the info. What should I do about my bank account? All of the internet loans are coming due on Tuesday 8/14 so they will get their money this time, but what else should I do?

Posted: Sun Aug 12, 2007 6:40 am Subject: meek

meek, I want to suggest that you close that account so the pdl's don't hit it; however, your writing checks to your store fronts for payments. So there goes the whole closing your account idea. You actually can't even put a block on it since you're writing checks to the store fronts for payment. You're going to need to start writing your letters to the internet pdl's revoking their debit authorization of your bank account. However, almost NONE of them pay attention to this letter. They continue to hit your account anyway. This is a tough one. You're using your account for store fronts, but you need to block the internet ones. Hmmmmmmmmm......... Hang on.

Posted: Sun Aug 12, 2007 6:59 am Subject: Payday loan help

Regarding my storefront lenders, they will not send the checks to the bank as long as I make my payments (which I have always done and will continue to do) so if I do close my current account, can I not just give them the info on the new account and continue to write them checks on the new account until the loans are paid off? Would that work? These two companies are actually very easy to work with and will even hold my checks for a few days if I call them and let them know I will be late.

Posted: Sun Aug 12, 2007 7:03 am Subject: meek

If you can work with the store fronts regarding paying by check (i.e. giving them new checking account information) then I would think you would be fine. Do they still have your original checks that you wrote? Are they holding them?

Posted: Sun Aug 12, 2007 7:08 am Subject: Payday loan help

Yes, they hold the checks. When I make a payment, they give me the old check back and I write them a new one for the new amount owed minus the payment I just made. So do I need to write letters to the internet pdl companies revoking my authorization to debit my account BEFORE I close my account? I'm not sure how to go about doing any of this. Thanks for all your help.

Posted: Sun Aug 12, 2007 7:22 am Subject: meek

I was looking at your internet pdl's. We need to know if any of them are licensed to do business in your state. I know that BIG is not. I need to check on the others, if I can figure out how to find them in Oklahoma! I've been going around and around on the internet trying to find out where to find licensed lenders in your state! However, the one you listed as PPGC - is that the name of the pdl? Or is it the initials? If you have the full name, could you post it? Paydayloanyes is probably not licensed; however, I'm not positive about that. Your other ones, I've never even heard of! So, we need to first see if they are licensed and operating legally in your state. Post what PPCG is, if you can.

Posted: Sun Aug 12, 2007 7:43 am Subject: Payday loan help

I called the phone number for PPGC and it said Premier Processing Group. Does that help?

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