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 Posted: Tue Nov 13, 2007 6:27 pm Subject: Pay day help!!!!
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I have about six payday loans totaling about 3000.00 without the "fees". I contacted Langhorne debt solutions for help and they recommended I close my current bank account, so that they could not debt my account any more and call them back and they would negotiate my repayments for a fee and limited power of attorney
So... I have now closed my bank account and have not opened a new account yet, and have not signed on with Langhorne either.
Here are the questions...
1. Should I use a service like Langhorne?
2. Should I open a standard checking account or a debt account (one that uses a debt card)?
3. And should I continue the Direct Deposit?
Any direction would be helpful; if I were smart (Finically literate) I would not be in such a mess?
I look to the wish sages of this site for direction
Thanks
David
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davidgreen367
Joined: 12 Nov 2007
Posts: 54
Debtcc Points: 1737
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Posted: Tue Nov 13, 2007 6:52 pm Subject:
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David, I am so not one of the sages of this site however, I will try to help you out.  First, could you list which companies you have loans with, how much you borrowed from each and the total of how much you have paid to each. We need to know whether the loan is storefront or intrnet and which state you live in. This will help us give you enough information for you to make an informed decision regarding your options.
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how hard you hit, it matters
how hard you get hit
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RoxyNY
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Posted: Tue Nov 13, 2007 7:58 pm Subject: Pay Day Help!!
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They are all Internet loans:
Ameriloan- 300 loan -paid 180.00 to date
B&L Marketing 300 loan- paid 270.00 to date
CMG Group LLC 300 loan paid 810.00 to date
GECC 500 loan -paid 1647.00 to date (not sure if PIF)
UnitedCashLoans 400 loan-paid 1385.00 to date (may be a PIF)
Loan Shop 300 loan- paid 0 to date
Genva Roth 300 loan- paid 0 to date
PIF = Paid in Full
until your question I had not seat down and counted this up, I was just working on the feeling taht this is way out of whack.
The CMG loan has never taken anything from the principle and I am never able to reach anyone there.
Thanks for your insight.
DG
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Guest
Debtcc Points: 100
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Posted: Tue Nov 13, 2007 8:54 pm Subject: r
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Whoa, david! Hold on for just a second! I'm looking at your loans. Crap!  Your GECC is WAY, WAY, WAY overpaid. I have dealt with them. Your CMG is overpaid. United Cash Loans is WAY, WAY, WAY overpaid. They are a d/b/a of MTE Financial who are Satan  . Ameriloan is also a d/b/a of MTE. They will not be licensed/legal (neither is United Cash Loans). B&L Marketing I am not familiar with; however, wouldn't doubt they are also unlicensed/illegal. The Loan Shop and Geneva Roth will not be licensed/legal. david, you have closed your account. Good move. Now, the ones that you haven't paid the principle amount on are:
Ameriloan - unlicensed/illegal
B&L Marketing - we'll have to check on this one
Loan Shop - unlicensed/illegal
Geneva Roth - unlicensed/illegal
The ones you have overpaid are:
CMG Group - nasty and I do not believe licensed/legal
GECC - depends on your state; however, grossly overpaid
United Cash Loans - unlicensed/illegal
We need to know what state you reside in.
With the loans you have, we can help you here. Now, it's entirely up to you as to if you want to retain Langhorne to deal with your pdls. However, 3 have already been WAY overpaid, 3 are unlicensed/illegal, and the other (B&L) we need to check on. So, it's up to you, david. We can help you "fight the fight" yourself, if you like. I just can't see paying Langhorne (my personal opinion only) to make any kind of settlement with these loans when you have overpaid already (by a large amount) and the others are unlicensed/illegal. However, it is whatever works for you. But, if you post what state you reside in, we can look into this further. Believe me, we have dealt with these people. Like I said, david, it is entirely up to you. You took the first step in closing your account, which is the best step to begin with. If you like, we can help you here. Up to you.
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cannr
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Joined: 07 Jun 2007
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Posted: Tue Nov 13, 2007 8:58 pm Subject:
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those suckers are really bleeding him dry. 
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granny
Joined: 07 Sep 2007
Posts: 450
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Posted: Tue Nov 13, 2007 8:59 pm Subject: r
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Amazing. But not surprising. With luck (and I do mean luck), david might actually get some refunds with some work.
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cannr
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Posted: Tue Nov 13, 2007 9:01 pm Subject:
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my god, i hope so. when he leaves they will be losing one valuable customer!
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granny
Joined: 07 Sep 2007
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Posted: Tue Nov 13, 2007 9:13 pm Subject: Help me Plsz!!
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cannr,
I would love some help getting out of this mess. I relocated back to New Jersey to care for elderly family and had to patch things together with pdl's and got in a mess.
If I can fix this mess without Langhorne it would be great, guild me great one 
David
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davidgreen367
Joined: 12 Nov 2007
Posts: 54
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Posted: Tue Nov 13, 2007 9:16 pm Subject:
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just relax, you will get through this.
_________________
when rich people hit rock bottom, they fall hard; people like me, we just roll over.
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granny
Joined: 07 Sep 2007
Posts: 450
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Posted: Tue Nov 13, 2007 9:17 pm Subject:
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Hey David,
Were you living in NJ when you got the PDL's? If not, what state were you in?
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kscornell
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Posted: Tue Nov 13, 2007 9:21 pm Subject:
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Good Question,
I lived in New Jersey when I took out all these loans but the Information used for the GECC and United Loan was based on my Florida income(these were reloans)
David
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davidgreen367
Joined: 12 Nov 2007
Posts: 54
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Posted: Tue Nov 13, 2007 9:27 pm Subject:
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All payday loans are illegal in NJ I believe. I am sure that someone will post the laws and know more about that. I think that then even if they are licensed it is still illegal in your state.
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njl32
Joined: 24 Oct 2007
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Posted: Tue Nov 13, 2007 9:27 pm Subject: r
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Okay, david. First of all, you were a resident of New Jersey when you took out the loans to begin with. Okay, there's a plus here because pdls are prohibited in New Jersey. I'm going to post the NJ pdl law so you can see it. When you re-loaned with GECC and United, did you give them Florida information? Or were they still under the assumption that you were still in New Jersey? Either way, even if they do consider it Florida, they would need to be licensed in Florida, which United is certainly not. And I would need to see if GECC is. So, in essence, New Jersey is going to play good on your part because no one would be licensed in New Jersey to loan to you. As far as Florida, the only one we would need to check is GECC. United isn't licensed anywhere. So, we have some things working in your favor here! david, I do believe we can do this. Like I said, it's up to you, my friend!
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cannr
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Posted: Tue Nov 13, 2007 9:28 pm Subject: r
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| Quote: | New Jersey State Information
Legal Status: Prohibited
Citation:
Consumer loan act applies but rates as agreed to by contract. N.J. Stat. Ann. tit. 17,§ 1 et seq. However, criminal law sets the usury cap at 30%. N.J. Stat. Ann. § 2C: 21-19. A check cashing licensee cannot cash or advance money on a postdated check. N.J. Stat. Ann. § 17:15A-47.
Small Loan Rate Cap
30% per year
Where to Complain, Get Information:
Regulator: New Jersey Department of Banking and Insurance
Address: 20 West State St. Trenton NJ 08625
Phone: (609) 292-5360
Fax: (609) 292-5461
Regulatory Contact: Ludi Hughes Assistant Commissioner
http://www.njdobi.org/
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cannr
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Posted: Tue Nov 13, 2007 9:32 pm Subject:
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I'm in, so , what's next.
The information used was Florida information because I was "Only" going to be here two weeks, so they used Florida information. My bank is in Florida- BankAtlantic.
Can I open another account with the same bank and be OK?
David
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davidgreen367
Joined: 12 Nov 2007
Posts: 54
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