|
#1
10-05-2007, 05:53 PM
|
|||
|
|||
Going under in OR
I have around 10 internet payday loans, a prosper loan, think cash and cashcall and one storefront pdl.
I have been current up until right now. This last round of payments has overdrawn my bank account to around $900. I don't know what to do. I stopped the direct deposit of my paycheck because it would be gone if it got deposited. I also have personal loans with american gerneral and equity one. I believe that those are signature loans but I remember listing a tv and computer (that I no longer have) on one of their forms. I know the laws in Oregon changed recently for the pdl's but I don't know how this affects the internet ones. I really need to figure out what to do. 
|
|
#2
10-05-2007, 07:43 PM
|
|||
|
|||
|
Going under in OR
Don't know all of them but some of the internet ones are:
PaycheckToday: $400 loan, $120 interest. made one payment next due in one week. Ameriloan: $300 loan, $90 interest. made one payment. nex due in one week. 500FastCash: $300 loan, $90 interest. made one payment. nex due in one week. MagnumFunding: $600 loan. 4 payments of $234. made one. next due in one week. CashToday: $300 loan, $80 interest. made one. next due in one week. 3 Midland marketing $300 loan, $90 interest. made one. next one in one week. Ambassador Collection: $400 loan, $120 interest. made one. next due in one week. CMG Group: $300 loan, $90 interest. made one payment. next due in one week. khaki funding: $300 loan, $90 interest. made one payment. next due in one week. These are the names that show on my bank statement. Not sure if any are illegal in Oregon. Any comments?
|
|
#4
10-05-2007, 07:46 PM
|
||||
|
||||
|
danb here are the laws for your state so you and everyone else can look at them (just select your state),
http://www.debtconsolidationcare.com...pdls-laws.html __________________
In life it doesn't matter how hard you hit, it matters how hard you get hit and keep moving forward.
|
|
#5
10-05-2007, 07:48 PM
|
||||
|
||||
|
This was also posted reagrdin pdl's in Oregon
What does it mean? They can only charge you 10% origination fee, and 36% interest. The origination fee can only be charged at the start of the loan. The loan can be rolled over twice. There is a 7 day waiting period between loans. Loan terms must be at least 31 days. Internet lenders must be licensed by OR to lend legally. __________________
In life it doesn't matter how hard you hit, it matters how hard you get hit and keep moving forward.
|
|
#7
10-05-2007, 07:51 PM
|
||||
|
||||
|
Your lenders must be licensed in your state for them to be operating legally. Are the interest amounts, the all you have paid. We need to know the total you have paid to each company.
__________________
In life it doesn't matter how hard you hit, it matters how hard you get hit and keep moving forward.
|
|
#10
10-05-2007, 07:57 PM
|
||||
|
||||
|
Also, Danb, you need to do something with your bank account. Many banks will not allow you to close your account if it is negative. You need to close it if possible and open a new one at a completely different bank if you can. If they will not let you close it yet atleast get them to put a hard debit block on it so no more money can be taken out. Also read this thread, there is some really good info about closing your bank account.
http://www.debtconsolidationcare.com...e-account.html __________________
In life it doesn't matter how hard you hit, it matters how hard you get hit and keep moving forward.
|
|
#11
10-05-2007, 08:07 PM
|
||||
|
||||
|
Danb, If i did the research correctly..and someone please correct me if I am wrong. None of your internets are licensed in Oregon.
__________________
In life it doesn't matter how hard you hit, it matters how hard you get hit and keep moving forward.
|
|
#12
10-05-2007, 08:29 PM
|
|||
|
|||
|
reply
Okay, I'm just jumping in here. From what I see, our guest has many, many loans. Not just pdls. And we really can't focus just on the pdls because of all the other loans out and also because of the bank account situation. guest, you've got 10 internet pdls (which may or may not be licensed), you've got 1 storefront pdl (which we know will be licensed/legal), you've got a Prosper Loan, which is an installment loan (not a pdl), you've got a Think Cash Loan, which is an installment loan (not a pdl), you've got a Cash Call Loan, which is an installment loan (not a pdl). You also have 2 personal loans - one with American General and one with Equity One. And your bank account is already in the negative around $900, so they're not going to close it regardless. We can help you with the 10 internet pdls; however, you are still going to have quite the problem with all the other loans, as they are all installment loans (and 1 legal storefront). These will need to be paid regardless. My suggestion (and this is only my suggestion) is actually for you to call the debtcc telephone number and speak with a financial coach. You can tell them all of your loans (pdls included) and they can help you out. They can find the best possible solution for your debt problems. You just have so many loans that it's probably bringing you down! Try this - call the debtcc phone number and speak to one of the financial coaches. See what they have to say. They can help. I'm giving you the phone number 1-800-601-1579.
Call and see what they can do for you. Like I said, this is just my suggestion. We can help you with the internet pdls; however, you have 5 installment loans also. Please try that. Do that and if you want to post and have us help you as much as we can, that's fine. We're more than happy to help. But in your situation, it might be best to speak with a financial coach and see what kind of help they can offer with your particular situation. Let us know how it turns out! 
|
|
#14
10-05-2007, 08:36 PM
|
||||
|
||||
|
Thank you for the advice Cannr. I knew the pdl's and was not sure about all the other loans. I think your suggestion is a great one.
__________________
In life it doesn't matter how hard you hit, it matters how hard you get hit and keep moving forward.
|
|
#15
10-05-2007, 08:38 PM
|
|||
|
|||
|
repy
Not a problem!
I'm just thinking of our guests best interest here. We can probably help "part way", but the best bet would be to speak with a financial coach. They have much better resources than we do!
|
Linear Mode
