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 Posted: Sat Feb 23, 2008 9:14 am Subject: Help and Advice with Payday Loans
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Hello,
I am new to this site and don't have a clue what I am doing. I replied to some posts for advice to see how you all handled your problems with PDL's. I am in such a terrible situation. I have at least 8 payday loans and keep getting deeper and deeper in because I don't have the money to payback, therefore, I get another just to live. I noticed on some of your posts there is a place or organization called T&C. Can anyone tell me who they are and what they can do to help. Also, has anyone heard of Langhorne? I don't want to get ripped off.
Any advice would greatly be appreciated. It does make me feel a little better that I am not alone.
Thank you!
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Denina
Guest
Debtcc Points: 100
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Posted: Sat Feb 23, 2008 11:34 am Subject:
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Denina. . Welcome. I too am fairly new to this site but you will find out quickly that everyone here is wonderful at helping you out. We have all been and/or still are in this predicament. Please do not feel alone. I am not real comfortable giving advice as I am just going through this myself, but I felt you needed a response to your questions. I can tell you that you will be asked for the state you reside in, whether these loans are internet or storefront, who you owe this money to and how much you have paid against the original loan amount. Maybe this could get you going until a more "seasoned" member can interpret the state laws for you and advise you what to do next. Please hang in there. . .someone will be here soon to help you out and give you a little peace of mind right now.
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llw1995
Joined: 02 Feb 2008
Posts: 1414
Debtcc Points: 13632
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Posted: Sat Feb 23, 2008 11:38 am Subject:
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Hey there llw! Nice to see you!
Denina-Welcome!
Give us a bit more info and we can help get you in the right direction:
The name of each pay day lender
Whether it is a storefront or internet
How much you borrowed and how much you have paid back
What state you are in
There are some members here that have used Langhorne or T&C to help with the PDL's, but lets see if you have actually overpaid and who is legal in your state.
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volleyballmom
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Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24893
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Posted: Sat Feb 23, 2008 12:33 pm Subject:
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Hey VB Mom. Nice to see you too! Hopefully Denina can resolve this herself. I know that I too talked with Langhorne but I wasn't totally convinced that I needed that service. Did get a response through the BBB from Ameriloan (it's on another post) but nothing concrete as their "accouting" is not the same as mine. Waiting to hear back.
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llw1995
Joined: 02 Feb 2008
Posts: 1414
Debtcc Points: 13632
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Posted: Sat Feb 23, 2008 1:39 pm Subject:
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You have definitely come to the right place! I have been here one week or so and I have learned loads. These people will help you through the steps you will have to take to get out of the mess.
I am right here beside you. We can hold Cyber Hands if you wish?
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egyptcrossarabs
Joined: 18 Jan 2008
Posts: 254
Debtcc Points: 4671
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Posted: Sat Feb 23, 2008 5:38 pm Subject: Payday Loan Help
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Thank you everyone for your tips. I reside in Pennsylvania. I am not familiar with the laws.
PayDayOne $350 (past due)
PayDayOK $450 but owe $750 (past due)
Check N Go - $1500 was making installment payments of $120 (I think) until November 2008 (past due)
Quick Benjamin - $200 (current-worked out a payment plan of $46)
Geneva - $200 (past due. I don't even know how to get a hold of them)
Advance America $500-I was paying them until they closed their store in PA. They were sued for charging customes too high of a rate. I never received any information from them to pay the account.
CashNetUSA $350 (past due)
Arrow Financial - $200 (current)
Little Loan Shoppe - $350 (current)
I also have 3 credit cards that are seriously past due and a closed bank account that I owe $950 too. I feel like I am such a bad person because of all of this. I am to the point where I can take it anymore. I kept putting off getting help. I really need to step up to the plate and seriously work on my finances. My husband and I fight constantly about money and allot of it is because of my stupidity. I don't make that much money and am also working a second job. Can someone give me the website for T&C?
Thank you all so much.
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Denina
Guest
Debtcc Points: 100
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Posted: Sat Feb 23, 2008 6:04 pm Subject:
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First of all, I'm going to point out that in PA, pdls are prohibited. I am going to post the state pdl law for us all to see. So, knowing this, there are no storefronts involved, they must all be internet loans. Okay. In this case (sorry so confusing!), PA allows internet pdls if they are licensed SOMEWHERE. If they are licensed SOMEWHERE, they will be considered legal. If they are not licensed SOMEWHERE, they would be considered illegal. So.... with that said we need to check and see who is licensed. In the meantime, I will post the law so you can see it.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9376
Debtcc Points: 124824
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Posted: Sat Feb 23, 2008 6:05 pm Subject:
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| Quote: | Pennsylvania State Information
Legal Status: Prohibited
Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, § 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. § 6201 et seq.
Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year
Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions |
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cannr
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Posts: 9376
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Posted: Sat Feb 23, 2008 6:06 pm Subject:
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Let me ask another question. Your bank account is closed, correct? So these pdls can no longer debit your account?
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cannr
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Posts: 9376
Debtcc Points: 124824
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Posted: Sat Feb 23, 2008 6:11 pm Subject:
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I got this from the BBB site regarding contact information on T&C:
Town & Country Acceptance Corporation
Phone: (205) 823-4930
Fax: (205) 823-7858
Address: 2081 Columbiana Road
Birmingham, AL 35216
Original Business Start Date: October 1981
Principal: Mr. Eric Shears, President
Customer Contact: Mr. Eric Shears, President - (205) 823-4930
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cannr
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Posted: Sat Feb 23, 2008 7:57 pm Subject:
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Yes, my bank account has been closed. I forgot to mention that Advance America was an in-store pdl. The others are all on the internet. I screwed myself up so bad with these pdls. My bank is expecting $100 a month for the next 9 months. Right now, I can't afford that. Is there legal action these places can take against me? I am been fortunate that they have not been calling my place of employment. Are they allowed to do that if I told them not to?
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Bayley5
Joined: 22 Feb 2008
Posts: 114
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Posted: Sat Feb 23, 2008 8:09 pm Subject:
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I forgot to ask you, how to I check and see if they are licensed? Also, is T&C a place that will make arrangements with my pdl lenders? From what I understand about Langhore, they are former pdl employees and know how to get around their harrassment and fees.
I have a silly question, why am I coming up as "dinab1" and "Denina"?
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Bayley5
Joined: 22 Feb 2008
Posts: 114
Debtcc Points: 2054
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Posted: Sat Feb 23, 2008 11:06 pm Subject:
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Hi Dina. Not sure why the name is different but I am sure someone can tell you. Both TandC and Langhorne will negotiate a settlement with the PDl companies but you have to pay them as well as whatever the settlement amount is. We can help you here if you want and we do not charge a penny. If you hang in there Cannr will surely do some investigating on the companies you may owe and let you know if they are legal. Can you list amount borrowed and total amount you have paid so far. Dont worry things will get better for you. We have all been there and came out on the other side wiser and happier.
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stargzr
Joined: 26 Nov 2007
Posts: 264
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Posted: Sun Feb 24, 2008 6:35 am Subject:
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In answer to the question as to the "name", Denina was showing because you were signed in as a guest. Apparently you registered as a member, so now you are dinab1!  Advance America - they are a storefront that you owe. Where did you get it? If PA prohibits pdls, did you cross the state line and get it somewhere else? Also, is this already in default? Advance America is a member of the CFSA, which means that if the loan is NOT already defaulted on, you can go into the storefront at least one business day BEFORE the loan is due and invoke the EPP (extended payment plan). With this, you would sign an amendment to your loan documents and they would break down the loan into 4 equal payments until it is paid off - no extra fees or charges. However, if it's already defaulted, you cannot do this.
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cannr
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Posted: Sun Feb 24, 2008 6:37 am Subject:
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Langhorn and T&C both handle pdls. They operate differently though. You could try giving them both a call just to see what they have to say. It wouldn't hurt. Do you have information on Langhorne?
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cannr
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