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 Posted: Tue May 06, 2008 2:42 pm
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Okay - I've read through some threads and have dediced to ask advice.
I am in KY. All of these loans are ONLINE loans and I have paid more than I borrowed on each.
My question? Do I use a company or do this on my own.
I bank with Wamu. I have opened a new account and am ready to close my old at any time.
Magnum Cash Advance
MyCashNow
LoanPointUSA
Tendollarpayday
paychecktoday
cashspot.com
paydayone
oneclickcash
Any help you can give me would be appreciated. I'm not scared to do this on my own. I just want to stop the cycle and end the despair. My family deserves so much more....
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aj15
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Posted: Tue May 06, 2008 2:58 pm
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aj, internet pdls are prohibited in KY. You can do this yourself if you choose to. It can be time consuming and is work but it is worth it in the end. You stated you have overpaid on all of them. You are only obligated to pay back what you borrowed. You do need to close your account before the pdls hit again. Please read this on closing your account...
http://www.debtconsolidationcare.com/paydayloan/close-account.html
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RoxyNY
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Posted: Tue May 06, 2008 3:04 pm
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Aj, Here is another thread you should read. Scroll down to the bottom and the Kentucky laws are explained.
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
There are several of us from KY on here that would be more than happy to help shoudl you decide to do this yourself.
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RoxyNY
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Posted: Tue May 06, 2008 3:47 pm
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Wow - you guys are amazing and YES! I want to do this and get all the help I can....I know it's going to be alot of work.
I will start reading now!
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aj15
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Posted: Tue May 06, 2008 4:23 pm
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Aj, Come back and ask any questions. Someone usually will answer pretty quickly. I started with 9 internet pdls and everyone here helped me so much. The bank account is the first step. Get that closed for good and let us know if you have any troubles with this...or anything else. Once you have done that we can move on to the next steps. Welcome to the fourms.
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In life it doesn't matter
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how hard you get hit
and keep moving forward.
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RoxyNY
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Posted: Wed May 07, 2008 5:07 pm
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How do these companies get by with all the legal looking websites? Take payday one for instance.
They bought my loan from payday select....and now they have it. I've WAY overpaid so I will be sending them a letter. They have they aren't licensed in certain states...but not Kentucky. What is up?
How can they do this?
No wonder so many of us are fooled. 
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aj15
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Posted: Wed May 07, 2008 5:14 pm
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aj, Some of the websites are legal and licensed in some states...just not licensed in KY. Different states have different laws regarding internet pdls in some states as long as the pdl is licensed somewhere, they can lend in that state, in others, the pdl must be licensed by that state and in states such as KY, internet plds are prohibited. Here is a link to a letter that you can use as a template to send the pdls.
http://www.debtconsolidationcare.com/paydayloan/outstanding-loan.html
Be sure the pdls can not access your old account before your mail (email or fax) the letters. If they know what you are up to, they will hit your account for all that they think you owe.
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In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
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