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rch

Ok so I'm 21 i just moved out on my own and ... I have 3 online pay day loans. I thought that I could get one to help me out and bills kept ailing up now i cant catch , the cycle continued. Now i dont have enough money for my bills. What do I do ? I live in indiana i have a loan from my cash now, ameriloan, and gfs help!!!

Posted: Tue Jan 22, 2008 7:14 pm Subject:

Could you post the name of the companies, how much you borrowed, and what you paid back? Then someone will be along to help you, I'm sure!

Posted: Tue Jan 22, 2008 7:36 pm Subject:

Welcome to the site, I'm sure you'll get some great advice, post the details of your loans like shazzar suggested.

Heres a copy and paste of the law regarding PDL's in Indiana

Guest · Posted: Tue Jan 22, 2008 8:27 pm Subject:

Pay first your housing, electric and food. Look for a second job. Gett on a strict budget. No partying. Every extra penny goes to the loans. Get focused on nothing but paying these loans off and never get another one. Save money and pay cash for your stuff.

Posted: Tue Jan 22, 2008 8:36 pm Subject:

More BS advise from "guest", how is she/he going to pay for their housing electric and food when they don't do something about the PDL's and NSF fees run into the 1000's?

The advice is good advice in general but it does not apply to PDL's. There is no reason to pay ILLEGAL PDL's above the principle amount owed plus LEGAL interest in your state.

rch · Posted: Tue Jan 22, 2008 9:16 pm Subject:

I work full time and go to school full time but yes I am already looking for a second job. I dont go out and party I spend most of my time not at work studying. I have a loan from my cashnow I borrowed 330. the pay back is 391.45 i extended it once which was 109.00 this week its $60. gfsil i think i borrowed 250 and the pay back is 380and i extended it once for $75 . For amerilan I borrowed 250 and the pay back is around 350.

Posted: Tue Jan 22, 2008 9:21 pm Subject:

But if you look at your state laws there are no roll over permitted.

rch · Posted: Tue Jan 22, 2008 9:23 pm Subject:

ok so i guess im confused they were off the net, i dont know if that matters or not.

Posted: Tue Jan 22, 2008 9:33 pm Subject:

The payday lenders have to be licensed in your state to do business, unless your state says that they at least need to be licensed in "A" state.

So what this could mean for you, is that you cannot do roll overs, so the payments that you have made should be subtracted from the amount you owe, but then you still need to figure out the legal interest they should have charged. And I am not the one to ask to figure that out Embarassed

lol but I believe that Goudah is the one to ask on figuring it out.

You should contact your states department of financial institutions and ask about the internet loans and if they have to be licensed in your state or if they are at least licensed in the state they are in (which most of them are not) you can also give them the names of the companies you are dealing with. They may help you out in this situation. SO give them a call (800) 382-4880

Posted: Tue Jan 22, 2008 9:34 pm Subject:

Yes it does matter, they broke the law, if no rollovers are permitted in your state then they should abide by that.

Posted: Tue Jan 22, 2008 9:35 pm Subject:

Hi RCH. You are not confused, they are just pointing out that the illegal PDL that loaned to you are breaking your state law by rolling over your loan, that is what it is called when you pay the "interest" only payments. Also, dont pay any attention to our "guest" he for whatever reason has decided to be a pain in the butt on this website. If you can read the information about closing your bank account and if it is possible you might want to close it then try to work out a payment arrangement to pay the principal only on the loans. That means whatever you borrowed less whatever you have paid. These companies will continue to take from your account as long as it is opened. You need to take control so you can pay your necessary bills and then pay the pdls on your terms.

rch · Posted: Tue Jan 22, 2008 9:39 pm Subject:

THANK YOU SOOO MUCH for your help

Posted: Tue Jan 22, 2008 9:43 pm Subject:

Thanks Star Smile

That is what I wanted to say lol but I think I was more confusing than helping lol. I am having one of those days Embarassed

Posted: Tue Jan 22, 2008 9:53 pm Subject:

Star does have a way with words, LOL what did she say in the other post with the "guest", "Go play in the highway" or something. Laughing

Posted: Tue Jan 22, 2008 11:11 pm Subject:

LOL Lonegunman, yeah I did say that Embarassed

That guest was just really getting on my nerves. I just dont think there is any reason to be mean to people. I know when I came here I was feeling so bad about myself I didnt need someone else telling me I was a looser. I hope he goes away soon.

Posted: Wed Jan 23, 2008 10:11 am Subject:

You know what I have learned, some people I believe just enjoy running others into the ground to make themselves feel better. For one negative comment there are a ton of positive ones. Don't let one negative post discourage you.

ladybug

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