List out your loans and how much your borrowed and how much you owe.

I do not know who I am madder at--the payday loan companies or me. I am a complete idiot and I have proven it to myself. It took me a few hours and quite a lot of anguish to determine that. Anyway here goes:

Ace Cash Express-borrowed 300 and owe 175.50 Have already paid 233.25 in fees and principal.

Speedy Cash(found out they are a CSO-learned something)-borrowed 500 and owe 562.50. Have already paid 268.30 in fees and no principal.

CashNetUSA-borrowed 300 and owe 385.50.

Cash Central-borrowed 400 and owe 500.

Now we get to the goodies:
OneClickCash(tribally owned)-borrowed 600 and owe 780. Have already paid 180 in fees only.

500FastCash(also tribally owned)-borrowed 550 and owe 325. But here comes the million dollar question and why I am kicking myself. This loan is from 7/11/11. I searched and researched. This loan was taken out on 7/11/11. On 8/18/11 they took 165.00 out of my account. On 9/2/11 another 165. On 10/7/11 another 165. On 11/7/11 another 165. Then everything changed. I searched and searched my bank account thinking maybe I paid off and took out another loan with then. No. No deposit anywhere from them. On 12/5/12 they deducted 215. On 1/9/12 deducted 200. On 2/6/12 took 185. On 3/5/12 another 170. Last month on 4/9/12 took 155. So on a 550 loan I have paid a whooping 1585. I guess that is what happens when you do not pay attention. I have been under so much stress this past year. The last couple of months everything just seemed to hit me at once. I went into a deep depression and even thought of suicide. I cried for weeks on end because of the death and also all of this financial mess I have gotten myself into. Sorry to ramble but I am so desperate to figure this out and here comes more.

PayDayOne--oh yes another goodie. I started with a $200 loan and now it is 650 and I owe 869.37 but that is not all. Their rates are so high I have to keep upping the anty. Since I started I have only paid interest in the total of 1325.68. I pay them over $250 a month in interest alone so how can I ever pay on the principal?

Well I think that is about it if that is not enough. Have you ever seen such a mess? And I was an A student in school ashamed to say. No wonder I can barely afford to pay the light bill. I will see if anyone has any answers. But first thing in the morning I am going to make some calls. I called the office in our state that governs payday loans and they told me they did not regulate internet loans so I do not know what to do but am going to try them again and see if I can get someone who knows something about this.:confused::confused::confused:

It is true that tribal lenders are illegal. Did you talk to a state finance department employee about the matter? Did he say that closing your bank account might lead to you getting sued? If so, I can't believe how irresponsible an answer that is.

Here are the facts, offshore/unlicensed/tribal lenders can't take you to court. Whatever you borrowed (at least in case of the tribal lenders), you only need to pay that off. The things that you mention about loan principal amount and rollover, it makes me think the other lenders are illegal as well. Please list out the names of the other PDLs.

In the meantime, talk to the bank manager and have him shut down your current checking account and open a new one. In case you can't do so at the moment, place your bank account on 'Deposit Only' status

Read this as well: http://www.debtconsolidationcare.com/forums/showthread.php?t=167483

Yes I did speak with someone at Braud's office. Was told they did not regulate internet payday loan companies. I asked if I closed my bank account what would happen and was told they could sue me. Two of these are tribally owned and I have paid one over $1500 on a $550 loan. I have listed the loans since it took me a while to try to figure out what kind of mess I have gotten myself into. Thanks.:confused:

Also forgot to mention that I received a letter the other day from a collection agency CFS Services. The letter stated that I was in collection for Ace Cash Express. Had a file number, the original debtor, Ace, and the file number for Ace. I contacted Ace since I am paying on them and only owe $175.50. The lady stated that I was not in collections and she had never heard of that company. She also checked with her supervisor who agreed. She said she would say ignore the letter but didn't know if that would be the right thing. I told her that I was going to call that company. After several repeated calls talking to an answering machine and asking for a call back I decided to leave a message stating I had contacted Ace and that this was a scam and they would be hearing from an attorney. Still to this date, no return call. After all the loans, I am scared my information is out there for every predator to do with as they please. I am definitely closing my account and if anyone wants to threaten me, I want proof in writing of what I owe, my signed documents, etc. Then I can go from there I guess. :rolleyes:

What a load of crock! Irresponsible bunch of people if I have ever seen one. File complaints against the tribal lenders with the FTC and the AG. Since tribal lenders are illegal, you owe nothing more than the principal amount. Given that you have significantly overpaid, I suggest that you begin with closing the bank account immediately and after your new account is up and running, contact the tribal lenders in writing and over the phone demanding a refund. They are going to try hoodwinking you with a lot of legal jargon and 'arm of the tribe' BS. Don't fall for it and keep pressing till they cough up the refund. If you are luck enough to get the refund, cash the check elsewhere, don't put it straight into your new account.

Now we take this on part by part.

PayDayOne - I looked them up and it seems like they are not licensed to operate in Louisiana. Plus they seem to have broken the state laws pertaining to small loans. Contact them and tell them that you are aware that they are breaking the law by rolling over and charging interest over and above the rates stipulated by state law. Mention that you will be willing to forego your intention of filing complaints with the FTC and the AG in exchange of a PIF letter and a refund check for the amount paid over and above the principal that you had borrowed.

Ace Cash Express - Give them a call and state that you have every intention of paying back whatever you owe and ask for an extended period repayment plan. I hear they are open to working with their customers.

As for the collectors, send them a DV request via certified return receipt mail and if they fail to respond within 30 days, send a C&D letter via the same process. If they bother you again, sue their pants off.

Hi, Thanks for the reply. Had already intended to do just that--close my account and open up a new one. My bank is great to work with. I just was scared about how to proceed. Has already decided on the tribal owned companies. I am not scared of them since I definitely know they are illegal and have done a lot of research and there is nothing good on them. The attorney general in Nebraska even brought suit and they were ordered to cease and they just laughted and have kept on going. I am calling the attorney general's office tomorrow about them and see what can be done to maybe recoop some of my money but I am not going to cross my fingers. Just don't want to put out any more.

I have had no problems with ace and had planned on paying that off this month anyway--with not paying the tribal loans that can happen.

As far as paydayone, I will be contacting them on this matter. I have paid way too much on the amount I borrowed and they are going to have to do something or else let them take me to court. I have my records.

The two CashNet and Cash Central are not overboard with their charges and hopefully I can work out a plan to pay it off in a couple of months.

The only other one I am worried about is SpeedyCash. The only other time I have contacted them is when I wanted to move a due date and they were completely unwilling to do so. So we will see what happens. That comes due on the 31st for some strange reason and I do not get my deposit until the 1st so they would have to work with me anyway or not get paid. Like my mom said to me the other day, they can either work with you or take you to court. They would have to put out attorney fees, etc. Yes they can sue me for them but after looking at my mess, the judge would probably order some kind of payment anyway so they would be better to take what I can offer.

Thanks for all your help. After looking on this board, I feel a lot better. Had been leaning towards doing what you stated but after talking to someone in Baton Rouge, I was scared. Bet I call tomorrow and get a completely different answer.

Well, I just got off the phone with:
John J. Braud
Compliance Examiner
Deputy Chief
LA Office of Financial Institutions
(225) 925-7762
and was told that I am basically screwed. They do not regulate these internet companies. These companies are licensed by their state and have to follow their laws. He suggested I either contact an attorney or call the companies and try to work something out. When I told him about the $1585 I paid on a $550 loan, all he is was that I entered into that contract and I had to pay whatever I entered into. So basically what he is telling me is that he is sitting in Baton Rouge in a cushy office getting paid for doing nothing. I am glad that I have found that there is no one who care about the little guy in Louisiana--like I didn't know that already.:(:(:(:(:(

They may not regulate internet loans, but that doesnt mean u are bound by an illegal contract. Please follow that advice of the very helpful experts on this site for your illegal loans. You are not screwed. I stumbled across this site in April, sent my letters on 4/22, I have since payed off my one legal loan(cashnetUSA) and gotten one paid in full from an illegal lender. I have 5 others that have not yet given paid in full letters, but they can no longer get there grubby fingers on my paycheck!! And I will never have to pay them another cent because they are illegal and have since learned my rights!

Take their advice! You will not regret it :)

Thanks. I have contacted the Attorney Generals office and am waiting for a callback. I am not worried aobut 500fastcashor oneclickcash. They will be getting letters from me as to being paid in full. PayDayOne is one I am still researching about. They state they are licensed here but operate out of Kansas but have a Missouri license. The call earlier today stated they didn't have to be licensed here, only in their state. Well they aren't even licensed in their state. Seems Missouri and some of the other states these businesses are operating out of have some pretty good laws--in the businesses favor. They can charge an enormous interest rate and can roll over numerous time. So what I am asking is since the loan with them started out at $200 and then they kept upping it--which foolishly I did because I could only pay them back the interest and I need the upped amount to pay that--how do I figure out what I still owe them. The state they are licensed in Louisiana but when you pop on their state license it shows a Missouri license and Missouri is good about letting them take you to court. Please help on this one--the only one I am still concerned over. Thanks.:confused::confused: