so just found this website which is awesome....i too fell into the payday loan trap. i have outstanding loans through the vip loan shop, ameriloan, united cash loans, discount advances, and zip19. i was doing fine i have a good job but then i got sick and was out for awhile then car taxes so on and so forth. while doing research ive realized that payday loans arnt even legal in connecticut with very strict laws so how was i able to get one in the first place??? my only option i believe is to close my checking account and get a new account number although ill be able to pay off two of the loans the rest ill let vip loan shop, united cash loans, and ameriloan go to collections (the last two actually have the same address ive found out). does anyone have any advice to give me besides to not take out another loan. advice esp. me being based in connecticut will greatly help. thanks.
Debt Samaritan
Posts: 1616
Credits: 28160.064806048 Send message to waffles
The loans are all illegal and uncollectable. get a new checking account and you can pay them off at your convenience on your terms. They cannot sue you arrest you etc. they are all illegal. Don't bakc down. Register to the site
How to deal with illegal lenders, courtesy of OhioGal
How to write a proper debt validation request, courtesy of SOAPLADY
How to deal with a Collection agency contacting you for PDLs
Posts: 13
Credits: 380.6 Send message to mlminnix
thanks i just registered my only question is while reseaching it seems i might have ground to just pay off the principal.
Debt Samaritan
Posts: 1616
Credits: 28160.064806048 Send message to waffles
You have grounds to pay off whatever you want; it is the policy of the website to pay back the principle on illegal loans. You can pay it off at your convenience. I recommend a prepaid debit card or a money order. If the lenders give you problems, tell them to jump off a cliff. Make clear they can take your option, or get nothing. Follow the illegal lenders link in my signature EXACTLY, step by step.
To answer your question, legitimate payday lenders would not issue a loan in Connecticuit. They issued you loans because they took a risk assuming you would not know your state laws and would assume that you are bound to their BS contracts. Unfortunately in most cases (over 90 percent I'd say) they are right and people just pay them back without knowing the loan is illegal and unenforceable.
How to deal with illegal lenders, courtesy of OhioGal
How to write a proper debt validation request, courtesy of SOAPLADY
How to deal with a Collection agency contacting you for PDLs
Posts: 13
Credits: 380.6 Send message to mlminnix
thanks so much for the info ive been using pdl's for years you wouldnt believe how much i have paid them.
Debt Samaritan
Posts: 1616
Credits: 28160.064806048 Send message to waffles
If it's the same companies then add up all that you have paid over the principle and demand a refund.
How to deal with illegal lenders, courtesy of OhioGal
How to write a proper debt validation request, courtesy of SOAPLADY
How to deal with a Collection agency contacting you for PDLs
Posts: 4159
Credits: 44190.063946819 Send message to kscornell
I would also add that you should send each lender a cease and desist letter (you can find templates on the site) spelling out how you want to be contacted--as they could be calling you 24-7. Also report them to your State Attorney General's office.
Posts: 9
Credits: 123.1 Send message to mferg
dont want to high jack this thread but how do i post a new thread of my own on this site? I hit the "Ask An Expert" button but then when i finished it said a moderator had to approve it or something. I havent heard back or anything on it. Did i not do it the right way?
Posts: 51
Credits: 849.65 Send message to davidperez
The best thing to do is register, on the top right it says to Join or Register. Make sure your username is simple. If your questions is very long or has links and a lot of weird characters it tends to block it. At least that has been my experience. If it went to spam, most likely its lost.
Posts: 9
Credits: 123.1 Send message to mferg
yea it did mark it as spam actually....but i am registered which is weird to me
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