I took out a payday loan of 1000.oo dolloars from my cash now. I live in maine. More bad luch rolled my way and I am unable to pay the loan off. they will not take smaller payments and I am going to be forced not to pay them anything. What is going to happen to me??

Enter Your Samebox Message:

Here are the laws for your state (just select your state),

http://www.debtconsolidationcare.com...pdls-laws.html

This company is not licensed in your state and is prohibited from payday lending.

The first thing you should do is to contact your bank and have debits from this company blocked. Also check your contract with them. If you signed a "voluntary wage assignment," notify the company that you are revoking that authorization, also notify your payroll department that you are revoking this. Let my cash now know that you are aware they are lending illegally in your state. Make arrangements to pay back only the principal amount borrowed - on your terms. Good luck.

Enter Your Samebox Message:

You have received great advice from dbaker. Another thing you should do is report this company to the Maine attorney general's office. They will be interested to know that this company is loaning illegally in your state and may be able to put some heat on the lender which could make it easier for you to work things out on your terms without the harassment many are subjected to. Good luck and let us know if we can help more!! And please know that these companies make illegal threats such as jail and they cannot take you to jail for defaulting on a payday loan.

Enter Your Samebox Message: