| Author |
Message |
|
|
 Posted: Wed Jan 09, 2008 1:23 pm Subject: I want to get out of this vicious cycle of payday loans
|
|
|
I want to get out of this vicious cycle of these payday loans. Can anyone help?
|
|
karminking
Joined: 09 Jan 2008
Posts: 19
Debtcc Points: 476
|
|
|
 |
|
Posted: Wed Jan 09, 2008 1:37 pm Subject:
|
|
|
Yes we can help you here. Please tell us what state you are in, who your lenders are, how much you borrowed from each one, how much you have paid in total to each, and are your loans internet or store front. Once we get this we can start to help you.
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Wed Jan 09, 2008 1:42 pm Subject: payday loans
|
|
|
I leave in Missouri; I three payday loans: Cash Central, if paid now $250; Us fast cash, if paid now $520; World wide Cash now; if paid now $289. My loans were done by internet. I wish I would have never found out about them.
|
|
karminking
Joined: 09 Jan 2008
Posts: 19
Debtcc Points: 476
|
|
|
|
Posted: Wed Jan 09, 2008 1:45 pm Subject:
|
|
|
I will post the laws for your state, but please answer the questions we need. how much borrowed, how much already paid to each. what they say you owe is not what we need. Just what you borrowed and what was paid in total to each lender
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Wed Jan 09, 2008 1:46 pm Subject:
|
|
|
| Quote: | Missouri State Information
Legal Status: Legal
Citation:
Mo. Rev. Stat. § 408.500 et seq.; 4 Mo. Code Regs. § 140-11.010, 140-11.020
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 14-31 days
Maximum Finance Rate and Fees: Not Specified (No borrower shall be required to pay a total amount of accumulated interest and fees in excess of 75% of the initial loan amount on any single authorized loan for the entire loan term and all authorized renewals. Otherwise, interest is set pursuant to small loan law which provides that parties may set rate by contract.)
Finance Charge for 14-day $100 loan: $75
APR for 14-day $100 loan: 1980%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Six (borrower must reduce principal amount of loan by 5% or more upon each renewal)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: NSF fee; Collection costs (including court costs and reasonable attorney's fees) Licensee cannot use a series of ACH transactions to collect a single check.
Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker)
Where to Complain, Get Information:
Regulator: Missouri Division of Finance
Address: Consumer Credit Section, P. O. Box 716 301 W. High Street Jefferson City MO 65102
Phone: (573) 751-3242
Fax: (573) 751-9192
Regulatory Contact: Joe Crider,, Supervisor, Consumer Credit
Regulator Website |
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Wed Jan 09, 2008 1:56 pm Subject: payday loans
|
|
|
Ok, this is all foreign to me! Can you tell me what is means in a nutshell? Thanks
|
|
karminking
Joined: 09 Jan 2008
Posts: 19
Debtcc Points: 476
|
|
|
|
Posted: Wed Jan 09, 2008 1:57 pm Subject:
|
|
|
after you give us the answers to the questions we need , we can help you with your loans.
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Wed Jan 09, 2008 2:02 pm Subject: payday loans
|
|
|
I've paid approx $360 to Us fast Cash, I borrowed $400; and about $1068 to World Wide cash, I borrowed $200; and $50 to Cash Central, I borrowed $200. I hope I have it right this time.
|
|
karminking
Joined: 09 Jan 2008
Posts: 19
Debtcc Points: 476
|
|
|
|
Posted: Wed Jan 09, 2008 10:31 pm Subject:
|
|
|
Oh my gosh karminking you have way overpaid World Wide.Thank you for answering Kashzans questions now one of the moderators can give you some advice. You might want to read the information about closing your bank account. Sometimes that is the only thing you can do to stop these leeches from robbing your bank account. I am a newbie so please hold on and wait for the "experts" to advice you. We have all been through this and hopefully we can help you get through it too.
|
|
stargzr
Joined: 26 Nov 2007
Posts: 270
Debtcc Points: 2690
|
|
|
|
Posted: Thu Jan 10, 2008 6:08 am Subject:
|
|
|
Please do read the sticky at the top of the pay day forum regarding closing your account. If possible we do suggest that you close it, and open a new account at an unrelated bank.
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Thu Jan 10, 2008 8:07 am Subject: payday loans
|
|
|
It's kind of hard to close my account right now! I have my payroll checks direct deposited. The loans are due to come out of my account on 1/15. However, I have contact T&C and will be making payments thru them; however, in the mean time I need some advice how to keep my account secure. I called the bank yesterday and they said that they can not block ACH withdrawals from my account. They can reverse them, but that doesn't mean that they will not try to send them back thru again.
_________________
Register today to encash debtcc points.
|
|
karminking
Guest
Debtcc Points: 100
|
|
|
|
Posted: Thu Jan 10, 2008 8:12 am Subject:
|
|
|
You have the right to revoke any ach withdrawls, but that does not mean that the pdl will not continue ti send them thru. They may even try sending a paper check thru. the onky safe thing is to close yiur account.You can change your direct deposit to a new account. You have so overpaid world wide. I hope you are not going to pay them any more. I dont quite understand why you would want to pay T&C for help with 2 loans which are probably not licensed in your state in the first place. As I see it you only owe 40.00 on one loan and about 150 on another loan.
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Thu Jan 10, 2008 9:22 am Subject: payday loans
|
|
|
I don't know that I can close my account at this point.
|
|
karminking
Joined: 09 Jan 2008
Posts: 19
Debtcc Points: 476
|
|
|
|
Posted: Thu Jan 10, 2008 9:25 am Subject:
|
|
|
I suppose that I am still a bit confused. Making payments thru T& C for what???
All you owe is 40 on 1 loan and 150 on another.
Are you placing other debt with T&C or just the 2 pdls
|
|
kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
|
|
|
|
Posted: Thu Jan 10, 2008 9:44 am Subject:
|
|
|
karmin-The bottom line is this...
If you dont close the account, they can and will continue to debit EVEN if you have T&C paying them.
Since you owe so little and have way overpaid worldwide, how is T&C going to help you? Perhaps you should keep the $ your were going to give T&C and just finish paying off your PDL's yourself.
|
|
volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24895
|
|
|
|
Posted: Thu Jan 10, 2008 12:44 pm Subject:
|
|
|
I guess I'm still confused as well! I guess I will just close the account and go from there. I don't see how I can tell Us Fast Cash, that I only owe them $150 take it or leave it.
|
|
karminking
Joined: 09 Jan 2008
Posts: 19
Debtcc Points: 476
|
|
|
|
