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Posted: Fri Jun 15, 2007 5:46 pm Subject: 9 Payday Loangs, HELP!!

I currently have 9 outstanding payday loans and would like to consolidate them. We are a sinking ship paying the interest only every two weeks in the amount of 780. I will never pay them off and I am getting behind on other bills. Can someone help me figure out how to get the much needed help?

Posted: Fri Jun 15, 2007 5:49 pm Subject:

You need to close your current account and open a new one at a new bank if at all possible. This is the first step in taking back control of your finances. Be prepared for the harassing and very THREATENING phone calls from these internet payday loan companies. Just know this, they are going to threaten to press criminal charges against you and have you arrested. No matter how real they make these threats sound. IT IS ILLEGAL FOR THEM TO THREATEN YOU WITH THIS, because you will NOT be charged with a crime nor will you be arrested.

Guest · Posted: Fri Jun 15, 2007 9:30 pm Subject: loans available! Apply immediately!!!

Spam not permitted on the forums-Mishele

Posted: Fri Jun 15, 2007 9:48 pm Subject: owenmax

What the hell is this from owenmax????? You've got to be kidding!

Posted: Sat Jun 16, 2007 5:37 am Subject:

bflow30,

Welcome to the forums Smile

First of all take a deep breath and try to relax for a minute. We can help you on your journey of getting out of the pdl trap. May I ask what state you are in? This will help us determine the lending laws in your state. Are these all internet lenders or are some storefront? Steelers, gave some great advice as well. You will want to close your checking account and open a new one. It's one of the first positive steps in getting out of this trap. Don't worry, we are here to help!

Posted: Sat Jun 16, 2007 7:23 am Subject:

Before you close your checking account, check with your bank on their policy of debits coming through on closed accounts. Some banks allow debits to come through even after the account is closed. Then the pdl's could go through and you could end up owing a perfectly legal bank a lot of money. If they say the do allow this, see if they can put a hard hold on it first to keep any debits from going through...then have them close the account. You will feel so much better once the account is closed and they can't touch your money!

Posted: Sat Jun 16, 2007 8:11 am Subject:

I am fortunate in the bank account issue as I had already started a new savings account and they will allow me a checking to link to it. Of course, the savings is empty, since the PDL's have all my money each month, but, it will get better. How can I find out if my PDL's are licensed in my state?

Posted: Sat Jun 16, 2007 8:13 am Subject:

I hope that is a new checking account and a new savings account. Because these crooks have been know to get into the savings with the old checking account left opened and linked to the savings. I know, it happened to me. Sad

Here is the link to your state's laws and it also provides a link to your state's lincensee lookup data base. Just click on your state.
http://www.paydayloaninfo.org/states.cfm

Posted: Sat Jun 16, 2007 8:18 am Subject:

Are the new accounts at a different bank? If not, I would highly recommend going to a new bank all together. Sometimes these places do searches by social security number and the banks allow them access to the new accounts and you find yourself back in the same situation.

Posted: Sat Jun 16, 2007 8:20 am Subject:

Steelersi,

It ia at a new bank. Thanks for the link to my state laws. How can I find out if the companies I used are licensed in my state?

Posted: Sat Jun 16, 2007 8:24 am Subject:

That link should also provide another link to your state's licensee data base look up. It would be at the bottom of the page which state's your state's pdl laws.

And I am glad to hear that these new accounts are at a new bank! Very Happy

Posted: Sat Jun 16, 2007 9:29 am Subject: 9 pay day loans

I had 3 and i was freaking out. I did not know what to do and I have just found this place, but I did what steeler suggested, I closed my account, so they could not debit me. I opened another bank account, and the creditors haven't called me because I got a cable network phone, unlisted too. they cannot do anything, in fact, you can call credit counsling i think and ask for extensions. the nice lady at one of the payday loan places, that is working with me, told me to call family lift 813-989-1900 and tell them i need help/extensions. that's tampa, but you must have something near you like that. good luck, i know the feeling very well. lisa

Posted: Sat Jun 16, 2007 9:47 am Subject: Knowledge

One of the things that has helped me (I have 10!!)is to sit down and organize everything. I took a pad of paper and listed each loan. Matched it to my state laws to figure what I should pay and then went through bank statements to see what I did pay. You can find so much info on this site: there are telephone/fax numbers and in some cases address too.

Posted: Sat Jun 16, 2007 9:59 am Subject:

Sass,

That's a good point about the banking info. You want to make sure your other debits will go through. It's so much easier than trying to block the ACH withdrawals on these loans. That gets expensive and some use different names to withdraw.

Posted: Sat Jun 16, 2007 6:00 pm Subject: Totally true!

Oh god! So true! Everyone listen to the advice regarding your bank account! My account was closed, but the pd debits went through & that caused a huge mess. A whole other story though! Make sure you have a debit block on your account if you can not close it. I couldn't put a block on "specific companies" because they use so many different names to get your money. I had to put a total hard debit block on the account until we finally just got it straightened out. Do not open another account at the same bank! Run to another bank! As already advised, they will get your information if you're at the same bank! Learned this from experience!

Posted: Sat Jun 16, 2007 8:12 pm Subject:

Has anyone closed their account and had overdraft fees assessed? Or was it closed and not allowed to process? I know it varies per bank and I am going to check with my bank on Monday but I was curious.

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