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 Posted: Thu Mar 06, 2008 2:40 pm Subject: how can i deal with all these PD loans
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need help with PD loans,i live in TN and currently owe for 8 PD loans,1 title loan and 2 signature loans,these are all store front locations in the same city,owe 1,784.00 for checks,900.00 for title loan and 406.00 for signature loans,this has been a nightmare for me and my family,broke before payday gets here,,3-D FINANCIAL,OWE 430.00 FOR CHECKS AND 298.00 FOR SIGNATURE LOAN,CASH EXPRESS,OWE 447.30 FOR CHECKS AND 168.00 FOR SIGNATURE LOAN,SPEEDEE CASH,OWE 330.00 FOR CHECK AND 900.00 FOR TITLE LOAN,BREWERS CHECK CASHING,OWE 230.00 FOR CHECK,KINGS CHECK CASHING ,OWE 230.00 FOR CHECK,,OK CHECK CASHING,OWE 117.35 FOR CHECK,,I have been rewriteing these checks every two weeks but i cant no longer,i have other bills i must pay,i have backed myself in a corner,,i need some help fast,,thank you
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Thu Mar 06, 2008 3:49 pm Subject:
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Although I can not give you any advice on how to deal with your payday loans, I can tell you that you have taken the first steps in getting things straightened out by taking action. You are not the only one that has been in this spot and there are many people that have gotten out of situations like yours.
Someone will be along to help and I wish you the best of luck. It can be done. Just hang in there.
_________________
"If you have knowledge, let others light their candles in it."
— Margaret Fuller
Nobody can make you feel inferior without your permission.
-Eleanor Roosevelt
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spatterson_40
Joined: 04 Jan 2008
Posts: 357
Debtcc Points: 4209
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Posted: Thu Mar 06, 2008 4:13 pm Subject: question
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new here ,did i post this in the wrong forum?
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Thu Mar 06, 2008 6:13 pm Subject:
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ryder, I'm going to post the pdl law for your state. However, let me make sure I understand correctly. These are all STOREFRONT loans, correct? And you also have title loans with them? And you also have signature loans with them, correct?
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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Posted: Thu Mar 06, 2008 6:14 pm Subject:
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| Quote: | Tennessee State Information
Legal Status: Legal
Citation:
Tenn. Code Ann. §45-17-101 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
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: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill, |
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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Posted: Thu Mar 06, 2008 6:43 pm Subject:
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Yes i have title loan with speedee cash,,1 signature loan with cash express and 1 signature loan with 3-D financial
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Thu Mar 06, 2008 6:44 pm Subject:
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they are all store front
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Thu Mar 06, 2008 8:15 pm Subject: TN PDL LAWS
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TN law reads maxium loans 3 and i have 8,,does this mean that the fourth place i got a loan should have known not to give me another one?
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Fri Mar 07, 2008 5:13 am Subject:
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Okay, here's what I'm getting so far:
3-D FINANCIAL
OWE 430.00 FOR CHECK
OWE 298.00 FOR SIGNATURE LOAN
CASH EXPRESS
OWE 447.30 FOR CHECKS
OWE 168.00 FOR SIGNATURE LOAN
SPEEDEE CASH
OWE 330.00 FOR CHECK
OWE 900.00 FOR TITLE LOAN
BREWERS CHECK CASHING
OWE 230.00 FOR CHECK
KINGS CHECK CASHING
OWE 230.00 FOR CHECK
OK CHECK CASHING
OWE 117.35 FOR CHECK
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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Posted: Fri Mar 07, 2008 5:15 am Subject:
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ryder, I can check to see if any of these storefronts are members of the CFSA. If they are, you might be able to invoke the EPP (extended payment plan) and can pay them off in 4 equal payments coinciding with your paydates. Let me ask you first, are you current on all of these? You haven't defaulted on anything yet, correct?
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cannr
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Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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Posted: Fri Mar 07, 2008 6:15 am Subject:
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yes,up to date untill tomorrow
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Fri Mar 07, 2008 6:19 am Subject:
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You must go in person to the store fronts today in order to get the EPP. If you are a day late they will not give it to you.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
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Posted: Fri Mar 07, 2008 7:04 am Subject:
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thank you all for the the help,,,the problem with the EPP is i dont have the funds to pay all this week,a very bad week..should i close bank account? thank you
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Fri Mar 07, 2008 2:43 pm Subject:
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Okay, I understand where you're coming from. You don't have the money. Understandable. Looking at your state pdl law, criminal action is prohibited. You won't be criminally prosecuted for your checks. However, my thing is that I'm not sure about those signature loans and title loans. I honestly know NOTHING about signature loans and title loans at these stores. Only checks. You can be taken to CIVIL court by these stores if you don't pay. Either way, whatever you decide to do, you will still have to pay for all this stuff. You'll have to make arrangments to pay the checks, the signature loans, the title loans - or risk losing whatever your title loans are on. I don't know what can happen regarding the signature loans. But the checks can be taken to civil court if not paid. So, what do you think? If you close the account, it'll have to be quick. It'll take a bit for the storefronts to put them through. You'll really want to tell them the account is closed (you can tell them the BANK closed it). Because you're going to need to keep in contact with the storefronts anyway to make payment arrangements to keep yourself out of trouble. I know I'm rambling here, so if you have any questions, just post. I just honestly don't know what will happen in regards to the signature loans and title loans. Are they debiting your account at all? Or do you go in and pay cash when you make payments to them?
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cannr
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Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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Posted: Fri Mar 14, 2008 4:41 pm Subject: PD LOANS
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just came in off the road,,thank you for your reply,sold car today to pay off title loan,no extra cash for it but did get rid of one headache,,speedee cash will be taking legal action as of tomorrow im told,,havent heard from the other ones as of yet.,,all of these places refuse to let me pay them down,they want it all so i will try to pay them off one at a time,,,best i can do,,i usually pay them with cash but they have on ocasion run them threw before i got there,,,,it is very hard not to worry. thank you
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rydermack
Joined: 06 Mar 2008
Posts: 33
Debtcc Points: 429
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Posted: Fri Mar 14, 2008 4:49 pm Subject:
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ryder, at least you got one out of the way, although I hate the fact that you had to sell your car to do it. That really bites. Speedee Cash says they are going to take legal action against you? Well, it won't be criminal action. Criminal action is prohibited in your state. They may be talking about going to civil court regarding your loans. So be it then. Just make sure you go. What most likely will happen if they do decide to do this is take you to civil court. You can sit down with them and make payment arrangements. Just keep in mind no CRIMINAL action can be taken against you, so don't freak out or anything. Please keep us updated as to your progress. If you need help, just post. We're here.
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cannr
Moderator
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Posts: 9375
Debtcc Points: 124818
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