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Sub: #1 Payday loan
Replied on 07-20-2010, 07:36 AM
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I have payday loans worth $2150.00. I have been making payments of finance charges. Now my whole paycheck is about the finance charges & I am strugling. Can I consolidate or get some other remedy. Please advice / help.
I live in Maryland, all my loans were online.
The amounts & the companies are:
Cashnet USA $650.00
Nationwide Cash $350.00
Payday loan yes $350.00
Titan $200.00
CMG $200.00
Pack Mgmt/B&L $200.00
Brighton FNL Direct pay $ 200.00
Thank You




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Sub: #2
Replied on 07-20-2010, 09:52 PM
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Payday lenders are prohibited in your state! Cashnetusa is the only legal lender you have and they are registered as a CSO. CLICK HERE to find out how to deal with illegal lenders.


Sub: #3
Replied on 07-21-2010, 03:16 AM
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Don't pay a dime to the illegal payday lenders. I presume that you've already paid a lot to them. You're legally liable to pay only to Cashnetusa, who are the only lender you've in your list.

Send letters to each of the illegal payday loan lenders stating that you're revoking all ACH authorizations with that particular company and tell them to stop contacting you.

If the collection procedures continue, you can file cases against them with the BBB or the FTC.

Since you owe the debts, if you want, you can pay the debts but make sure you only pay the amount you borrowed.

Pachacutec1
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Sub: #4
Replied on 07-21-2010, 05:39 AM
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I'd also contact the Maryland Dept. of Financial Regulation (phone # and address listed on this site under MD laws); they were a big help to me in getting out of the PDL cycle (in addition to this GREAT website as well!)

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Sub: #5
Replied on 07-21-2010, 02:10 PM
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Thank you for all you comments. It is a big help. I really really appreciate it.

Thanks
Kumar




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