Internet's first get-out-of-debt community - 134,000 members

Posted: Thu Jun 07, 2007 9:07 am Subject: Newbie here with payday loan problems

Hello All. I have been reading many post here for the past couple of days, and I already feel better knowing I'm not the only one in this situation.

I reside in Ohio and currently have out 7 payday loans from different internet companies. This all started the end of April and I am amazed how quickly it has gotten out of control. The current companies are:
PayDayOK 500.00 borrowed/ 261.00 paid
WebPayDay 400.00 borrowed / 240.00 paid
NetCashUSA 400.00 borrowed / 240.00 paid
OneClickCash 300.00 borrowed / 90.00 paid
ameriloan 300.00 borrowed / 180.00 paid
CashDoctors 300.00 borrowed / 75.00 paid
First Bank of Delaware (purposeLoans) 300.00 borrowed / 0 paid

I know I still owe money to these places, but am considering closing my bank account before they are due to be paid/rolledover on the 15th. Would it be difficult to set up payment arrangements? Should I seek professional help? Can I get into serious trouble with the law for doing this? How badly will this hurt my credit rating? I can afford to pay them off pretty quick If I don't have to pay all the rollover charges.

Thanks in advance for all your help Smile

Posted: Thu Jun 07, 2007 9:12 am Subject:

First things first, no you cannot get into a kind of CRIMINAL legal trouble. They(the companies)will try to threaten you with arrest but none of those comapnies are liscensed in OH so therefore they should not be lending in OH. Secondly, they are very difficult to make arrangments with. But most importantly: You need to get your control back over your finances before you get in the situation i was in. So my advice to you, if you are willing to deal with the harrassment of it all, close that account and open a new one and then send letters to each company stating your intentions. Eventually you will be so ate up in fees that you wont be able to pay your rent or buy food!

Posted: Thu Jun 07, 2007 9:30 am Subject:

It's good to know I can not get arrested. whew!

I think I will close my account this weekend and open a new one. I really don't have another choice. I know I will start getting calls, emails, etc once I'm in default.
Will it take long for them to start calling my references or employer.
I am most concerned with them calling my boss. Especially since I work in the finance department, and it looks bad on me to even take out a payday loan (let alone 7 of them). When/if they call someone other than myself, can they give out information about what they are calling for?

Posted: Thu Jun 07, 2007 11:04 am Subject:

send a letter to all of them revoking any wage assignments that you have with them. you really should go to your boss and explain the situation without going into details like how many and who. This is just in case they do send a wage assignmenet to him. He does not have any legal obligation to honor it. It is not the same as garnishment. It is strictly voluntary.
You may here things like "we are sending the police to your job if you don't wire us the money within an hour." No they are not. Its all a bunch of nonsense. Just laugh at them. They can't get real jobs like you have.

Guest · Posted: Thu Jun 07, 2007 11:10 am Subject:

Thanks Leah and frogpatch.
It really gives me peace of mind to know there is going to be a way to pay these off without going bankrupt first.

Thanks Again!

Posted: Thu Jun 07, 2007 11:36 am Subject:

You will be better if you pay off the principal amount and the fees mentioned in your state. Call the companies and propose your plan. It's important that you work out the arrangements and stick to the plan. They won't be a problem if you are trying to pay back. Here are the laws in Ohio

Posted: Thu Jun 07, 2007 11:57 am Subject:

You do of course have to pay them what you legally owe them as asciotf stated. Just don't let them bleed you dry.

Posted: Thu Jun 07, 2007 9:52 pm Subject:

And be prepared for these threats to be possibly made:

If you don't cough up the cash in 1 hour, 25 people will come to your house to arrest you.
Your boss will be called and they will try and have you fired.
You will be "downloaded" or "uploaded".
Your kids will be taken away.

Any more I have missed? (And these are all garbage, btw...)

JO · Posted: Sat Jun 16, 2007 7:22 am Subject: payday loans

They have had me watching for the police to arrest me. It has gotten so bad that I am having anxiety attacks...They call me with case numbers and I actually did run to Western Union money because they said that they were going to have a warrent issued for my arrest. When i asked if I should maybe take the money to the courthouse they got pushy with me and asked did I want them to help me or not? I have been in mortal fear ever since..... What can they do?

Posted: Sat Jun 16, 2007 7:28 am Subject:

Jo, they CAN NOT do ANYTHING to you. They are making illegal threats, and they are spouting off false case numbers that do not exist. PERIOD. Do not run to Western Union, Quick Collect, Money Gram, or any where else to pay them a dime. And you can STOP watching for the police to come and get you. The police do not have a warrant for your arrest, and they are not going to have one. You need to file complaints with your Attorney General's office against each company that did this to you. I hope this helps lessen your anxiety and the attacks stop. Most of us have been through this with the same false threats. YOU ARE NOT GOING TO BE ARRESTED. Very Happy

Posted: Sat Jun 16, 2007 7:32 am Subject:

J0, please do not have any more anxiety attacks. You cannot be arrested for defaulting on pdls and there is no debtor's prison. Many of these places are operating illegally and you really called their bluff in saying you should take the money to the courthouse. Smile

See how defensive they got? Do not let these places scare you like that. Pay what you legally owe them and nothing more. There is no need for you to be in mortal fear.

JO · Posted: Sat Jun 16, 2007 11:21 am Subject: thanks

I know that it makes me sound crazy. Really, I am not. It just hurts to be in debt and wonder how you will pay it all and you do not even have a job right now. I am looking and I know everything will be okay eventually!!

Posted: Sat Jun 16, 2007 7:44 pm Subject: pdls

'Jo, please listen to these people! Don''t take any more payments to Money Gram, Western Union, etc. They are lying to you. Of course they''re lying to you. They are also breaking your laws and stealing your money. I had one of my pdl''s call from the UK and tell me to Money Gram him $100. Did I send him the money? No. Am I in jail? No. I''m sitting in my house trying to help others! Nothing horrible happened to me. The most horrible thing that happened was the UK idiot called and wanted to know where "his" money was. Did I answer the call? No. He just left a voice message. Did I care? No. As I said, I''m not in jail. I''m sitting here at home. They can not "get" you. You''re fine. Do not have any more anxiety attacks! Very Happy

')

Posted: Sat Jun 16, 2007 8:12 pm Subject:

JO, it does not make you sound crazy. Please don't say that. We have all been there. You are right, all is going to be ok. Smile

JO · Posted: Sun Jun 17, 2007 6:08 pm Subject: thanks

You have all made me feel sooooo much better!! I may sit in the daylight now. This is the first time I have even seen this site. I plan to visit regularly. Have a great day!! Smile

Posted: Sun Jun 17, 2007 6:44 pm Subject:

Please visit often Jo and keep us up to date on your progress and post your experiences to help others! Very Happy

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

	* denotes required field

Internet's first get-out-of-debt community - 134,000 members

Newbie here with payday loan problems

Members Area

Free Debt Counseling

Ask the community

Featured Discussions

Featured Articles

Question of the Month

Also See

Recent Forum Discussions

Recent Blog Post