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 Posted: Thu Nov 08, 2007 11:54 am Subject: where can I find help for payday loans in Michigan?
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Michigan debt consolidation for payday loans? Please help tell me where I can find someone to help with this.
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miswindylu
Joined: 23 Oct 2007
Posts: 2
Debtcc Points: 75
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Posted: Fri Nov 09, 2007 7:22 am Subject:
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Never fear, help is on the way!
First things first--don't panic and don't give up hope!
Second--What kind of PDL's do you have? Store front or internet? Give us the names.
Third--How much was each loan for and how much have you paid back? Don't break it down into fees/rollovers/whatever, just the amount you have paid back.
I am by no means an expert, but this is what I was asked for to start with and I know that whomever comes along will need those answers to help.
I am in Michigan too and believe me, I and everyone else here knows how you feel. You are among friends and really smart ones at that 
_________________
Remember this motto to live by:
Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, rather to skid in sideways, chocolate in one hand, wine in the other, body thoroughly used up, totally worn out and screaming "WOO HOO what a ride!"
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terminalwhirl
Joined: 07 Aug 2007
Posts: 62
Debtcc Points: 1202
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Posted: Fri Nov 09, 2007 5:23 pm Subject:
Latest Blog Post : Decision |
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And here is Michigan:
| Quote: | Legal Status:
Legal
Loan Terms:
Maximum Loan Amount: $600
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of first $100, 14% of second $100, 13% of third $100, 12% of fourth $100, 11% of fifth $100, 11% of sixth $100 + any database verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One with licensee or more than one with any other licensee
Rollovers Permitted: None (cannot renew; lender may extend only if it does not charge a fee)
Repayment Plan: Yes
Collection Limits:
Collection Fees: One $25 returned check charge
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Michigan Office of Financial and Insurance Services
Address: P.O. Box 30220 Lansing MI 48909
Phone: (877) 999-6442
Fax: (517) 335-4978
Regulatory Contact: ,
http://www.michigan.gov/cis/0,1607,7-154-10555---,00.html |
_________________
If you think you can, you can...if you think you can't, your probably right...
http://lifewithyourcredit.yesdebtfree.org/
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Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2336
Debtcc Points: 39296
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Posted: Thu Nov 15, 2007 4:07 am Subject: Loans and Payment plans
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I have many loans. They are:
Cashnet USA $251.50
USFAstCash $600.00
My Casn Now $363.05
Zip Cash $665.0
UnitedCashLoan $300.00
Geneva Roth $480.00
I also have two more that I have made payment arrangements with. Of course, they all want their money now and they have a right to expect it but I simply can't squeeze another payment out any which way. It will take me several weeks before I can add another to the mix. When I do talk with them they want a large payment each week, and I can't stretch anymore.
One of the counselors from this site referred me to a financial person, who said he couldn't work with me in the state of Michigan. The phone number he gave me for legal advise wanted to charge me up front for a phone call fee. No Can Do.
Any suggestions? I'm nervous that one of these will garinshee my paycheck.
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miswindylu
Joined: 23 Oct 2007
Posts: 2
Debtcc Points: 75
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