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Dead Man · Posted: Thu May 10, 2007 6:26 am Subject: payday loan destruction

Hey everybody, I'm in a big mess here. I have 7 payday loans that are draining me. I can't pay my mortgage and other bills because of it and I'm really stuck here. Do I have any options besides suicide? If I do kill myself will my family be harassed by these companies?

Posted: Thu May 10, 2007 6:31 am Subject:

Dead man-I have been where you are and trust me...you do not need to commit suicide! Answer some questions for me and I will help you through my own experiences..
What stare are you in
What companies did you borrow from(their names as well as if they are internt or storefront)
How much you borrowed from each company and how much each company has taken from you moneywise in so called fees??

Dead Man · Posted: Thu May 10, 2007 6:39 am Subject:

I have the following:

premier processing- $250, $75 in fees every payday
nationalpayday.com- $300, $68 in fees every payday
mypaydayloan.com- $300, $75 in fees every payday
unitedcashloans- $300, $90 in fees every payday
paydayone- $500, $100 in fees every payday
thinkcash.com- $500, $89 in fees every payday
omg? or something like that- $300, $90 in fees every payday

I've completely ruined my life with this stuff.

Posted: Thu May 10, 2007 6:41 am Subject:

Deadman ~ there are definlty other options besides killing yourself. That would not solve anything. It would just make things worse for those that love and care about you and to be honest, I don't think these people would care whether you were dead or not, I am almost sure they would harrass your family.

Post the information that Leah asked for. If we have a little more to go on, people will know what direction to point you in.

Hang in there....it will be alright and keep your chin and your faith up. You will find a lot of help, support and encouragment here. You can/will get throught this.

Posted: Thu May 10, 2007 6:43 am Subject:

Ok now what I need to know is what state you are in and for you to add up how much in fees you have paid to each company....
Hey calm down! I was in your shoes a few short months ago and this site saved me...so I am gonna do what I can to help you out of this mess Smile

Posted: Thu May 10, 2007 6:46 am Subject: payday loan destruction

Dead Man, I know where you are coming from. I had about 11 loans going at one time. We did default on our Mortgage. The best thing that happened to me, was that my bank account got closed, so they couldn't get to our money anymore, and then we just kept calling and working out payment plans. I have 3 left to get taken care of, and our home just came out of foreclosure. Hang in there, and really listen the the wonderful advice you will get on this board. It will work out.

Dead Man · Posted: Thu May 10, 2007 6:56 am Subject:

I'm in Kentucky. I have been paying nationalpayday.com $68 twice per month for a year. I've been paying mypaydayloan.com $75 twice per month for 8 months, on the rest I'm just 3 or 4 months in.

Posted: Thu May 10, 2007 6:58 am Subject: Destroying

Please! Killing your self will just put this burden and many others on your loved ones. Please tell us what state you are in. Leah meant to say state not "stare." Chnaces are that you have already paid more than you are required to by the laws of your state. I had seven PDLs and felt strangled until I came here. I have paid off one, eliminated another and am filing criminal complaint about a third. The others so far have been either managable or have not contacted me. You will learn about the different tactics and reputations about each and everyone of these and learn how to deal with them. You MUST close your checking account so you can deal with them on your own terms. It will be a challenge that is not as bad as you think if you step up and do not allow them to intimidate you. You have laws on your side that they will not admit even apply to them but they do.

Posted: Thu May 10, 2007 6:59 am Subject:

Hey KY....see

Posted: Thu May 10, 2007 7:02 am Subject:

When you close your bank account please ask your bank what their policy is on ach transctions going through closed accounts. Some banks will force open the closed account and allow the transactions to go through. If your bank does this, ask them to put your account on deposit only before they close it. Tell them your situation and that these companies are notorious for debiting people's accounts without authorization.

Posted: Thu May 10, 2007 10:41 am Subject: Dead man

here are some things to do immediately:

1) talk to your bank (inperson with a manager) explain to them your situation and ask them to do the following a) close your existing account and open a new one
b)pay any important outstanding items (like bills, car payments etc.. out of the new account, and return all others

once this is done, you have protected your money.

2) Then write each lender a letter revoking immediately their right to electronically debit your account.

3) If you can;t make your mortgage payment, contact your lender immediately and explain the situation and ask for help in working it out

4) you will know have some breathing room, and can work on the next phase which is telling each and every company not operating legally in your state to get lost. This will require some work, but with our help you will be okay

above all remeber this.. you will be okay.. we will help you will be okay

Posted: Thu May 10, 2007 4:14 pm Subject:

Do what other people here have recommended. Since your state does not permit rollovers, every one of the companies you are dealing with is operating illegally.

Posted: Thu May 10, 2007 7:38 pm Subject:

Also, don't let their threats of criminal charges scare you. You will not be charged with any crime or arrested. They are only trying to scare you even more. Close that account, open a new one. In the meantime stop your direct deposit until you open your new account, start catching up on your bills. And file complaints with your state's Attorney General's office against each of these companies. You are going to be fine. I hope you come back and read the rest of the advice others have posted. You will be able to sleep a little easier once you do and even better when you start taking these steps to gains control over your finances.

Posted: Thu May 10, 2007 7:43 pm Subject:

Dead Man, please stop the suicide talk. That is how I felt when I found this forum too...I thought it might be the only way out but with the help of everyone here I know now that none of these places are worth doing that to yourself or your loved ones. You have gotten some really good advice from everyone above, now follow it and things will look up for you very soon. In fact you will feel a million times better as soon as you close that bank account and open a new one. Please feel free to come here and vent your stress/frustrations. There is nearly always someone here to talk to. Things are going to be better for you very soon. Smile

Posted: Thu May 10, 2007 10:04 pm Subject:

Dead Man please do not talk like that, it may look bad at the monent but if you listen to all the above adivse you will be ok. I had 10 internet loans and 10 storefront loans out at one time and I am doing ok now. I am still dealing with some of them. But as soon as you close your checking account you will feel much better. I never wanted to talk about my situation to anyone but it came to a point that I was paying over $4000 per month just on roll over fees and I said enough is enough. I couldn't pay rent, my utlities, car payment or even the class fees for my kids school, heck I couldn't even afford a $10 field trip fee for my kids. Then when my kids said to me one day when I was doing my regular friday running to pay my roll over fees why are you always going to these places? I was embarrassed and didn't know what to tell them. Thats when I came accross this site and here is where I first told someone about the mess I was in. I got lots of help and advise.

We will help you along the way, give you advise, and the understanding you need to get through this. And most important just knowing that you are not alone in this situation. We have been there.

I would contact your mortage company asap and explain your situation and they should be able to help you with your past due payments. Then go and have a talk with you bank and see what they suggest you do with your checking account. But most important be honest with the people you are making arrangements with and make them so you can afford them, so you have some money left for gas, food and your other everyday living expenses. You will be ok.

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