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Too many payday loans: How to come out of it?  

0
I have been reading this site and i think it is great. I have pay day loans from hell... However, i have about $3000.00. I had to close out my checking account because of all the fees. I have too many payday loans. They where not worth it. I am in worse condition now then when i started... I do not know how to get these down. And they are all internet payday loans.
 

asked Aug 2, 2007 04:08 PM

annaeppler
Best Answer
3
best answer

Click the link below to read your payday loan laws:
http://www.paydayloaninfo.org/stateinfo/CA.asp
Internet payday lenders must be licensed in the state of Ca to lend legally, see the licensee data base below to see if yours are licensed:
http://www.corp.ca.gov/FSD/licensees/default.asp

answered Feb 3, 2010 08:28 AM

99 Answers

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Welcome to the Community anna icon_biggrin.gif Don't feel as if you are alone! Many of us got caught up in the trap of pdls because of too many payday loans. Can you tell us what state you are in, the companies names, how much the loan was for and what you have paid? The reason I am asking is, in most states, the internet pay day loans are illegal, and operate illegally. We can direct you in the right direction with a lieelt more info-no personal info please-Keep us posted..Karen

answered Aug 2, 2007 04:14 PM

2

I'm laughing here! My "evil" laugh! Let them find out when their debits are returned! It'll take them a while to figure it out! But, did you send letters to your pdl's revoking their debit privilidge? You need to do that if you haven't already done it. That way you have documentation that you revoked their debit privilidge. You have to do it in writing and send it to each one. Also put on there that you revoke any wage assignment that you may have signed. Send them ALL that letter via email/fax/USPS. You'll have your backup stating you told them to stop. You need to do that for your own documentation and also for the bank if they request it. They might ask you to show them something stating you revoked their debit privilidge. So send the letters, as I stated, and they will find out their debits are being rejected by your bank. I honestly think it's all just so computerized. It'll take them a few times before it dawns on them that they're debits are being rejected!

answered Aug 4, 2007 05:34 PM

1

anna, don't be nervous. The pdl's may/may not call. Some of them actually do abide by your request not to contact you via telephone. Not many, but some. If they do call you, tell them to only contact you via email or USPS and hang up. They will eventually tire of calling if they can't get a "rise" out of you and they're start sending emails. This is good. You want everything in writing. Telephone calls are not good because you don't have documentation. Try your hardest to get them to only correspond with you via email or USPS.

answered Aug 6, 2007 03:41 PM

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I am in major pay day loan trouble how can you help me get out of it. I want to close my checking account because it's just too much.

answered May 23, 2011 11:38 AM

Anonymous
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oops! Forgot to say that I deleted your duplicate posts for you..KAren icon_biggrin.gif

answered Aug 2, 2007 04:15 PM

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Anna...as soon as we have your info we can start pointing you in the right direction. With internet pdls..most of us had multiples and found that we had overpaid on many of them. You will feel so much better when you are able to gain some knowledge and take control of your finances again.icon_smile.gif

answered Aug 2, 2007 04:39 PM

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Too many payday loans
SURE, I live in PHILADELPHIA, PA

WHO I OWE -
CASHNETUSA - 960.00 - paid = $360.00

CASH CENTRAL - 375.00 - PAID = $150.00

ONECLICK CASH - 390.00 - PAID $180.00

NET CASH USA - 390.00 - PAID $90.00

UNITED CASH - 350.00 - paid $105.00

Crown lending - 325.00 paid $0

SORRY, IT TOOK ME SO LONG I HAD TO FIGURE IT ALL OUT, HOWEVER, THE AMOUT I OWE IS WITH THE INTEREST. I NEED HELP

THANKS

answered Aug 2, 2007 05:31 PM

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anna, just by glancing, I see you are in PA. From what I understand, PA has some kind of funky "loophole" regarding internet pdl's. However, I can tell you that two, right off the bat, are illegal. But also just by glancing, I see you haven't paid the principle on any of them. Am I correct in seeing this? Do not worry. You are in the right place and everyone can help you here. I'm not a PA expert. I just know there's something funky about PA and internet lending. But we do need to see which of your pdl's are licensed and/or legal. Like I said, just by glancing, two are not. We can help you with this. Don't feel alone. Someone with PA knowledge can tell you more, but I can also at least look up who's licensed and try to help some more. You already closed your bank account?

answered Aug 2, 2007 09:33 PM

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anna, you posted the amount borrowed and included the interest in it? Just post the amount borrowed (principle only) for each one. The amount they actually deposited into your bank account. Works better that way! icon_biggrin.gif

answered Aug 2, 2007 09:35 PM

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