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cnina0224 · Posted: Tue Apr 01, 2008 11:59 am Subject: Debt Consolidation/Paying off debts

I currently have about 5k in payday loans. i am new to this site. i have seen many people post how much they owe, where they owe and what state they reside in. Im in CA, i have SEVERAL loans. i make good money that i just haven't been able to see lately. I am going to contact T&C to see what they will charge me for consolidating the paydayloans, but what is the case regarding PDL where the lender is not licensed in CA? I went on ca.gov and searched for Financial Services Division Licensee Address Listing
and typed in the companies i have used, but none seem to be coming up for me. HELP!

Posted: Tue Apr 01, 2008 12:40 pm Subject:

Hello cnina, if you would list more information someone will be happy to help you! Also, you may try placing the names of these companies into the search box in the upper right hand corner of this forum, you may be able to research the information you are seeking, right here at this forum Smile

Meanwhile, if you would like some advice from the members here, please provide us with the following information.
-Name of the PDL companies
-Whether they are store front or Internet loans
-Amount you borrowed
-Amount you have paid back

Once we have this information, it will be easier to assist you. Many people here have opted to take care of their payday loans themself, you may want to consider that depending on your circumstances, it can be somewhat time consuming, but well worth the effort in the end.

cnina0224 · Posted: Tue Apr 01, 2008 2:17 pm Subject: debt conoslidation/paying off debts

okay HERE GOES..

SGQ, Ltd. - 300, havent made payment yet.
Cash Transfer Centers- 700 paid in full every pay period
Impact Cash- 150 - havent made payment yet.
24/7 loans- 200- was to pay 74 to extend.. just recently was rejected from account (not enough funds)
Huskhawk- 300- paid only extension fee of 90
FTR-Processing- 300-paid only the extension fee
United Cash-300-was to pay 90 to extend but was rejected out of my account.
Paycheck today-300- have paid 50 recently on account
instantloansnow.com-500-keep paying only extension fee of 150.
bmg summit group-300-
Speedy payday-300-only been paying extension fee
500 first cash-200- rejected item on my account.

im in California. i recall other posts that ask where they are! all of these are internet stores.

I just got a raise and make 53k/yr! and every check is about 1300.. but i NEVER see this cuz CTC takes 889 out of my account every pay period. thats a huge loan but it seems like that loan is taken out each time to pay the other loans..

cnina0224 · Posted: Tue Apr 01, 2008 2:22 pm Subject: debt consolidation

i forgot one.

payday services-750- i think i have paid about 100 or something on it.

all these loans...and i can't even show that i been paying them OFF cuz i been paying all the extension fees. I recently had to buy a car, which i think caused ALL of this debt in the first place. and of course items getting rejected, each is 35 dollars! its killing me. i was thinking of using T&C but heard about the fee they charge. i dont have any money to front them to settle these loans. i really dont want to file bankrupt or doing anything drastic. i just dont wanna be in debt.. or live like i have nothing to even show for it. i am trying to get a second job JUST to pay these loans off Crying or Very sad

Posted: Tue Apr 01, 2008 2:30 pm Subject:

Have you closed your bank account yet? If not you should that way they cannot take anymore of your money.

cnina0224 · Posted: Tue Apr 01, 2008 2:34 pm Subject: debt consolidation

actually i am going to do that right now. i opened another account not too long ago with the same bank. i transferred my money over to the new account today. i am trying to at LEAST pay rent.. and i seem to be having trouble even doing that. it sucks.

cnina0224 · Posted: Tue Apr 01, 2008 3:01 pm Subject: debt consolidation

So from reading other posts.. i really haven't paid too much or if anything on these loans. i mean all i BEEN paying is the extension fee. i guess what i wanna do is somehow stop them from taking so much from my account. somehow setting up something where i can pay them WHEN i can, so i can survive, pay rent. have food. do anything necessary to LIVE. if any of these companies or illegal. i saw that i can send them a letter.. but again i havent paid anything on the principal, only the extension fees. so what can i do? what are my options?

Posted: Tue Apr 01, 2008 4:47 pm Subject:

HI cnina....none of these are licensed. For your information, here are the CA state laws around pay day lenders.

California State Information

Legal Status: Legal

Citation:
Cal. Fin. Code §§ 23000 to 23106

Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact: ,

Posted: Tue Apr 01, 2008 4:50 pm Subject:

I know on another post you said you were going to add up what you paid to all of these. If you can post that once you have the info, that would be great.

I know with Cash Transfer Center (CTC), they usually debit the whole loan amount and then you can take out another....I see you have a $700 loan out with them.

Can you confirm that your bank account is closed?
When was the last time these were scheduled to debit?

cnina0224 · Posted: Tue Apr 01, 2008 4:54 pm Subject: debt consolidation

wow so none of these are licensed??? So then what do i do? whats the next step? i will close my bank account today. i already moved my funds to another account. the thing is its with the same bank. should i then basically put a hard block (is that what its called?) ont he old account and revoke all ACH transactions?

also, does this mean i HAVE to pay them what i still owe since they are illegal? people spoke about being refunded? is it being refunded of what i have paid altogether or just what i have overpaid of the orginal amount?

i would like to handle this on my own. i know its gonna be a rough journey. but i can't live like this anymore.

Posted: Tue Apr 01, 2008 4:59 pm Subject:

cnina0224 · Posted: Tue Apr 01, 2008 5:22 pm Subject: debt consolidation/pay off loans

okay heres my research:

SGQ, LTD.-Borrow 300, haven't had to pay YET.

Impact Cash-Borrow 150, haven't had to pay YET.

united cash-borrow 200, rejected item on account, havent paid anything yet.

500 fastcash-borrow 200, rejected item on account, havent paid anything yet.

Cash transfer centers, borrow 700, will be paid next paycheck total of 889 when taken out.

paycheck today-borrowed 300, paid 500

speedy payday-borrowed 300, paid 450

247advances.com- borrowed 200 paid 74

summit group llc-borrowed 300 paid 90

huskhawk group- borrowed 300 paid 180

ftr processing-borrowed 300 paid 90

payday services-borrowed 750 paid 775

instantloansnow.com borrowed 500 paid 600.

that everything i have paid so far.

cnina0224 · Posted: Tue Apr 01, 2008 5:43 pm Subject: one more loan i forgot

odd. i had a paydaymax.com loan that JUST finally paid off. it was for 500 dollars but i ended up paying 1132.71!! . i thought it was paid in full. wierd thing is finally today its saying it is.. when just earlier this morning it said it wasn't. it was saying it i owed 42 bucks. its 30 i think for a returned item and i think i owed like 17 dollars somehow. but now its gone and paid in full? its saying they are deposting today 132.71 into my account? i dont understand???

Posted: Tue Apr 01, 2008 6:29 pm Subject:

WEll, you have me confused. Hopefully they are not trying to get your new account information...you have way overpaid them, ya know?

cnina0224 · Posted: Tue Apr 01, 2008 7:01 pm Subject: crazy loans

i dont know. i gotta find out today. So i am going to tell my bank to close my account or is it best to but a HARD BLOCk (is that what its called?) on my account so that no monies can be debited..only deposited correct?

cnina0224 · Posted: Tue Apr 01, 2008 7:04 pm Subject: crazy loans

i just read my last post. okay i didnt make any sense!

on friday i thought i paid in full. but i guess i didnt. today it was stating i owed 42 dollars. but then later on today i went back on, and it said it was paid in FULL, but they were going to deposit 132 to my account. sooo i am not sure what happened there. but i inturned paid 1132 on a 500 dollar loan.

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