Seven PDLs, closed account - what to do?

nope,your state laws prevail.in fact no legal pdl would lend in a state where pdl's are prohibited.

Hello to all. I'm new to this site and I am having some issues with PDL's. I am having my account closed and I need to send C & D letters and emails to the PDL's that I have. Does anyone have a template that I can use or give me an idea of what I should include in the letters and emails that I will send to these PDL companies? Any help will be great. Thank you.

To anyone going through the nightmare of payday loans, hang in there. You can get out of the nightmare. I once had 11, and I finally made the decision to close my bank account and write letters to all of them. I created a spreadsheet to track them and what I had paid, etc. You might find this helpful too. The internet-based loans are so difficult due to the layers of "companies" one goes through to get to the actual lender. I know the easy answer is to say to someone, "Just don't take those loans!", but when the rent is due and the electricity is about to be shut off, a person weighs the consequences and there you are.

Anyway, there is a light at the end of this tunnel, and blocking their access to your checking/savings account is the first step towards it.

Are PDL illegal in Texas?

It depends, which ones are you talking about? Some are legal as long as they are licensed by your state.

I just wanted to say that you were not the only one who got caught up in the pdl mess. I too got caught up in the vicious cycle. I am in the process of getting it cleaned up and fixed. It sounds like you got some really good info from the other guest. Use that info. In the event that does not help contact a laywer. I am working with a bankruptcy lawyer in my state of NC. I hated to go that route, but I was facing losing my home.
Do not beat yourself up.. You were in a bad position and like me probably had no where to turn. I am glad your wife is doing better. I never thought I would get myself in this mess and I beat myself up a lot. Hearing that I am not alone helps a lot.
I wish there were was some way that we could warn people about the dangers of the payday loans. Just keep putting your info out there.
Let as many people as you can know how bad the payday loans are.

What are the rules for Texas residents?

Your payday loan laws are at the link below:
http://www.paydayloaninfo.org/stateinfo/TX.asp

I have done everything this forum says to do to get rid of thee crooks. One says since they didn't solicit me, and since they say they that the acct shall be governed and subject to the laws of the state they are in. regardless of what state i am in. I don't understand. is that another scare tactic. I would appreciate any feedback. Thanks Tracey

The state you reside in prevails, Texas requires ALL Internet payday lenders to be licensed by YOUR state, so, since they are NOT (assuming you researched this), THEY are screwed, not you. Just tell them your state law prevails and let them threaten all they want because when it comes right down to it, they wouldn't dare walk into a court of law. You have too much going for you to prove your case, they do not.

Thank you very much. I really appreciate all your help. It has given me a light to what I thought was a hopeless situation. Bank of America was also very helpful to me and have kept my acct closed. Now I am just listening to all the messages these people leave me and their e mails. But this has been extremely helpful and I am very grateful to all of you who help us.

I am in Florida, so does that also go by state law to be licensed here?

Oh, for some reason I thought it was Texas. The same goes for FL too, they must be licensed in your state.

I am in Florida, is it also that state law applies, these people get really nasty and they write condescending things. thankfully I have a pretty thick skin. Thanks for you help.

Yes, your state law prevails.

I don't quite follow what the site is saying. Is it that there is a cap on the amount the charge for finance? If your Loan was $250 what is the most the can charge you?