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 Posted: Fri Jun 15, 2007 4:56 pm Subject: Payday loan consolidation for 9 outstanding loans |
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I currently have 9 outstanding payday loans and would like to consolidate them. We are a sinking ship paying the interest only every two weeks in the amount of 780. I will never pay them off and I am getting behind on other bills. Can someone help me figure out how to get the much needed help?
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Fri Jun 15, 2007 4:58 pm Subject: |
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First thing: are they interent or storefront? What state are you in? what companies did you borrow from? and how much did you borrow from each company? how much have you paid to each company in so called fees?
_________________
Passion...it is born...and though uninvited, unwelcome, unwwanted...like a cancer, it takes root. It festers. It bleeds. It scabs...Only to rupture and bleed anew. It grows...it thrives...until it consumes. It lives...and so it must die....in time.
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Leah
Debt Samaritan
Joined: 04 Mar 2007
Posts: 2333
Debtcc Points: 50556
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| Posted: Fri Jun 15, 2007 5:17 pm Subject: PAYDAY LOAN CONSOLIDATION |
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I reside in TN and they were internet. I am so ashamed to have had to do this but now it's like a bottomless pit and I've been takeing out loans to pay bills because once the fees hit my bank, I am BROKE!
I have borrowed from the following:
CMG Group (anyday cash) 200 (borrowed 12/4/06) paying 60.00 interest every 2 weeks. Just recently got to start paying this one down.
Loanshop 200 60 in interest (3/16/07)paying down
Netcashusa 300 90 in interest (4/24/07)
Geneva 300 90 in interest (5/21/07)
Payday2go 400 100 in interest (3/16/07)
MTE($10) 300 90 in interest (5/15/07)
National
Payday 400 100 in interest (5/30/07)
$550fast
cash 300 90 in interest (5/29/07)
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Fri Jun 15, 2007 5:44 pm Subject: |
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First, you need to close your account and open a new one. Preferrable at a new bank. This is just the first step, and a necessary one to take back control of your finances and start paying for your necessities again. You also need to file complaints with your Attorney General's Office, the companies you mentioned, I can guarantee are not licensed in your state.
It looks like you have already paid back CMG Group in all of those illegal refinancing fees they have been charging since December 2006.
But like I said first close and open a new account.
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5316
Debtcc Points: 71262
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| Posted: Wed Jun 20, 2007 4:32 pm Subject: |
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Sent out letters by email this morning and fax, got two PIF's by the end of the day....GMG/OSL Marketing and Loanshop/DMS Marketing
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Wed Jun 20, 2007 8:25 pm Subject: loans |
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BFlow, I am sohappy for you that you got he PIF. There will be a light at the end of the tunnel. Keep up and dont give in. KYSIDE38
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RYDERS OF THE NIGHT
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
Debtcc Points: 37316
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| Posted: Thu Jun 21, 2007 9:29 am Subject: pifs |
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'Bflow - 2 pif''s??? Yay for you!!! I''m so glad you''re having luck & so quickly! But watch out - 7 more to go! I started out with good luck in the beginning with my 12 (yes, 12) and I am now fighting tooth and nail with 6 of them. It''s all out war! Good luck to you & I hope you only continue to get good news! It''s starting to get better, isn''t it???')
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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| Posted: Thu Jun 21, 2007 12:22 pm Subject: |
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It is, although I still owe 7 but feel like loads of stress have been lifted already! Just need loads more to go!
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Thu Jun 21, 2007 5:38 pm Subject: bflow |
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If you need any help - just post away! We're here with whatever info we can give!
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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| Posted: Thu Jun 21, 2007 6:42 pm Subject: Stupid question... |
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I have never used a payday loan, but am I reading these numbers correctly that they are charging 25-30% every two weeks?
Why don't usury laws apply here?
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Register today to cash in debtcc points.
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KellerRacing
Guest
Debtcc Points: 100
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| Posted: Thu Jun 21, 2007 8:19 pm Subject: |
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That is what they charge! No responses today but I sent the letters by email again, just to irritate them! I keep getting an email for payday-loan-yes.com asking if I am still interested in a loan, DUH, I already have a loan, do they not communicate with each other, every day I get an email from someone else.
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Fri Jun 22, 2007 4:09 am Subject: pdl |
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Tell them yes, you would LOVE another loan and to go ahead and apply it to your outstanding loan! LOL!
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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| Posted: Fri Jun 22, 2007 8:39 am Subject: |
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Got a PIF from Cash2day this morning. Had to sign an agreement but then they faxed me all the backup documentation I will need if they try to debit my account anymore. YEAH!, 6 more!!!!
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Sat Jun 23, 2007 6:24 pm Subject: |
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I actually am having a somewhat decent weekend for a change, not worrying until I'm sick about this crap.
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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| Posted: Sat Jun 23, 2007 6:28 pm Subject: |
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I am glad to hear you are making progress! Congratulations on the PIFs. That list is dwindling down, and good for you!  Also, happy to hear you are having a peaceful weekend.
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5316
Debtcc Points: 71262
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| Posted: Sat Jun 23, 2007 6:31 pm Subject: |
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Any info on National Payday??? They emailed me and said that they have received the information I sent and that someone would review and they would contact me?? Guess they don't want me contacting them????
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bflow30
Joined: 15 Jun 2007
Posts: 521
Debtcc Points: 8284
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