Internet's first get-out-of-debt community - 136,000 members

Posted: Wed Jun 27, 2007 1:55 pm Subject: Payday loan help

Hi. I am new to the site and need HELP. I have way too many payday loans. How do I consolidate them? How do I get out from this vicious cycle? How do I save myself from losing everything I own? At this point, my entire paychecks are going towards fees..over $750 bi-weekly. My marriage is suffering and I can not sleep at night. Please...if anyone has any info, please help me. I have heard that Tandamp;C will help, but I do not know how to contact them...Thanks in advance for any advice. Amy

Posted: Wed Jun 27, 2007 2:13 pm Subject:

You MUST close that account immediately. Before your next pay check . Please list your lenders and how much you borrowed, how much you have paid each one so far and the state that you live in. Unfortunately closing that account is the only way to get this situation under control. Tell your payroll dept. you need a "live check" due to fraudulent attempts at withdrawals. You may not owe as much as you think according to the laws of your state. We need that info to determine that. I, along with many of us have been there. It is not nearly as bad as it seems. You just need to take control. You will get all the help you need here. You family comes first. Do not try to take another to pay anymore. Please take my advice. It is the only way. You can expect some nasty calls in the beginning. The illegal ones make the most noise because they are illegal and have no other recourse. Do not worry. You can't be arrested or sued. If you agreed to any wage assignments you must revoke them immediately. There is light at the end of the tunnel and it is a relatively short tunnel.

Posted: Wed Jun 27, 2007 2:34 pm Subject:

Hi Amy. Welcome to the forums. You're not alone. Mostly everyone here has been in the situation you're in now. The good news is, they were able to dig themselves out, and so can you. Frogpatch is right. We need to know what state you're in, what companies you borrowed from, whether they're internet or storefront loans, how much you borrowed and how much you've paid back so far including interest and fees for each one. Generally, the store front loans are usually legal whereas the internet are usually not. Threfore, you will need to deal with the storefront companies first. Again, supply us with the info requested, and we can help.

Definitely close your account. That's the only way you're going to get control of your finances back.

The best of luck to you.

Posted: Wed Jun 27, 2007 2:35 pm Subject:

Listen to the advice given by these good people. A week ago I had 9 PDL's and I have cleared 4 of them from owing anything more by following the advice given on this site. Although I still have 5 out there, I can sleep more at night and am not constantly thinking about this mess.

Posted: Wed Jun 27, 2007 3:43 pm Subject:

bflow, why not you start a new topic about your recent success with pdls in the success story forum? This will inspire many new people coming on the board. I read your other thread on CMG/OSL Marketing I am happy to hear that you are having peace at night.

aaarandall, you have got the back of this wonderful group. It's all about real experiences and fighting against the pdl business with most of the illegal lenders. Be an informed consumer and don't let the pdl sharks eat your paycheck. You will pay only what you have borrowed along with the permissible interests and fees, and that also if the company is a licensed business in your state.

Ami29(Guest) · Posted: Wed Jun 27, 2007 11:08 pm Subject: My PDL info

I have been working all evening getting the PDL info together....These are the places and amounts I have come up with.

Payday OK--Owe-$546.43

Payday Select--Owe-$516.07

Apple FastCash--Owe$250

Magnum Cash Advance--Owe:$274.14

Cash Transfer Centers--Owe:$381

OneClick Cash--Owe:$130

Payday 1--Owe:$520

NetCash USA--Owe:$450

Cashnet USA--Owe:$550

Loan Point USA(Geneva Roth Ventures)--Owe:$260

US FastCash--Owe:$130

Payday Loan-Yes--Owe:$455

Now, I added up on what I owe, which is $4462.64. As scary as a number that is, I also figured out what I have roughly paid, the grand total being over $6700!! I could have paid these all off and then some!! I have also found that half of these are licensed, all of them in Delaware. It appears that one company owns multiple lenders. I have also learned that 3 of my loans are above 600% interest--one is even over 700%. I did place a call to an agency that will help me consolidate these if that's what I want to do. The company I contacted is Town and Country Acceptance. They seem great and I have read about them on this site, so hopefully if I choose to go with them, they will be able to help me resolve this. I want to thank you all for all your advice...you have no idea how much better I feel! I feel like I can breath for the first time in MONTHS. Please keep the advice coming. . If anyone has anymore ideas or advice on how I can handle this, I would greatly appreciate any. I don't understand how I got myself into this....I feel like a horrible person. I certainly learned a lesson from it all.

Thanks again, and PLEASE keep the advice coming.

Thank you all...you are a GREAT group.

Amy

Username changed for your protection-Mishele

Posted: Wed Jun 27, 2007 11:11 pm Subject:

Ok, apparently I don't know how to log into this site!! Smile

Anyway, I have changed my user name to Ami29. Sorry for any confusion!!

Posted: Thu Jun 28, 2007 5:16 am Subject:

Hi Ami,

Please do not use your e-mail address when posting in the forums. This is for your protection only. I have to tell you also that you are not alone. T & C is a good company to work with. I do have one suggestion though, find out the lending laws in your state. You are checking with the state the companies are located in which is fine. Go to paydayloaninfo.org to find out a brief summary of the laws in your state. Since these are all internet loans, there is a VERY strong chance that they are licensed in your home state. I have spoken to several attorney general's office and have been told the lender must be licensed in the state of the consumer.

Posted: Thu Jun 28, 2007 7:01 am Subject:

Also, as said above, you need to close the bank account. When you do that, ask your bank what their policy is on ach transactions going through on closed accounts. Some banks will force open the closed account and allow the transactions to go through. Then you end up owing the bank $1000's. If your bank does do this, tell them the whole situation, and ask them to put an ach block, deposit only, or a hard hold on the account before they close it. That will stop the pdl's from force opening the account.

Posted: Thu Jun 28, 2007 9:23 am Subject:

Ok, first off, I have to say that last night is the BEST night of sleep I have had in a LONG time. It felt like a huge weight has been lifted off my shoulders.

This morning I cancelled all ACH transactions from PDL's through my checking acct. Today is my payday and I had over $900 coming out in PDL fees and transaction. My check was only $780. My bank is working with me to help me stop these guys from taking any more $$ from me, so I don't have to close my checking acct. (This is a relief because I have had the acct since I was 17) I also Talked with Stacy from T&C this am and we do have the ball rolling there. I know that I could probably have eliminated some of these myself, but honestly, these PDL companies SCARE me...and I feel more comfortable letting professionals deal with them.

I found a very interesting piece of information last night--Cash Transfer Centers is from Malta...anyone know where MALTA is?? I think these guys are about as illegal as they come.

Anyway, thanks again for all the support and advice. I will keep you all posted.

Posted: Thu Jun 28, 2007 9:25 am Subject:

You may still have to close the account. These places are very tricky, and will try to put through paper checks, and change thier names, and all sorts of tricks to get through to your account.

Posted: Thu Jun 28, 2007 10:06 am Subject:

Ami29, As I asked you earlier you must tell us how much the ORIGINAL amount of each loan was and how much you paid on EACH one. You are only telling us what they say you owe. And also what state do you live in? When you say you could have paid them off, you probably have and don't realize it. Please give us that info so we can be of better help!

Posted: Thu Jun 28, 2007 10:13 am Subject:

She is in MN. Sass and I talked to her in chat yesterday . . . . But I don't remember the loan amounts or payments.

Posted: Thu Jun 28, 2007 10:22 am Subject:

OK, as long as you two are helping her I know she is in good hands!

Posted: Thu Jun 28, 2007 6:07 pm Subject:

Ami, you will find many here who are able to help and assist you with your struggle and will give you good advice on how to gain control back of your situation. Very Happy

Posted: Thu Jun 28, 2007 6:12 pm Subject:

Yes, that is so true, Steelers Smile

Ami, I'm glad that you had a good night's sleep as well.

*Name:
*Email:
*Phone:
*Zip:
*Debt

	* denotes required field

Internet's first get-out-of-debt community - 136,000 members

Payday loan help

Members Area

Free Debt Counseling

Ask the community

Also See

Featured Discussions

Featured Articles

Recent Forum Discussions

Recent Blog Post