Internet's first get-out-of-debt community - members

TG · Posted: Thu Mar 06, 2008 9:02 am

I just got laid-off. Didn't see it coming at all. I have several PDLs that think I can my regularly scheduled payments in 2 weeks (I CAN'T!). Do I call and try to set up payment arrangements? Has anyone else had this experience?

Guest · Posted: Thu Mar 06, 2008 9:10 am

TG - Someone will be along to help. In the mean time, read some of the other threads and you will start to get an idea of how the process works. As for experience, there is a ton of it here. You name it and it has happened to somebody.

Posted: Thu Mar 06, 2008 9:13 am

Sorry to hear about your job; I hope that you can find another soon..

First off you will need to close your account first...don't let them take any more money from you...Here is some info on closing your accounts..

www.debtconsolidationcare.com/paydayloan/close-account.html

make sure that they block the account not just close it as some banks allow for ach's to re-open the account.

Also we need to know what state you are in and also need a list of all your pdl's, how much you borrowed (principle only) and how much you have paid back so far.

also someone else will be around soon to help out...

Posted: Thu Mar 06, 2008 9:17 am

If you are dealing with store fronts , you can not close your account. They usually are operating legally and it could cause problems for you.
Please list what state you are in, who your lenders are, how much borrowed , and how much paid back to each. Are they store front or internet.

TG · Posted: Thu Mar 06, 2008 9:35 am

I live in Texas. . . they are all internet loans:
Payday one $1000 paid $700
AeroAdvance $500 paid $100
Ambassador $400 paid $140
United $500 paid $600
Cash4U $200 paid $350
Eastside $500 paid $600
PayCheck Now $500 paid $600
Ameriloan $400 paid $540
FSM Processing $350 paid $630
CA Net $500 paid $750

Posted: Thu Mar 06, 2008 9:37 am

TG · Posted: Thu Mar 06, 2008 10:34 am

OK, can someone interpret those laws for me? I have no clud what that means.

Posted: Thu Mar 06, 2008 11:51 am

TG, There is another member from texas we are working with right now as well.. All of yours are internet? We would need to check to see if any of them are licensed in Texas. In the mean time...I am going to post the other members thread so you can read what has been posted to them so far.

http://www.debtconsolidationcare.com/paydayloan/cash-borrowed.html

TG · Posted: Thu Mar 06, 2008 2:16 pm

So, can't I just call them and let them know that I lost my job and need to make some sort of payment arrangements? I don't have to close my account, do I?

Posted: Thu Mar 06, 2008 3:11 pm

If you do not close your account they are going to debit it anyway. If there is no money in it, the bank is going to rack up NSF charges. It will happen over and over until you have a huge negative balance, are registered in Telecheck and can't get an account anywhere. Avoid this now while you can.

Posted: Thu Mar 06, 2008 3:14 pm

She will be placed in chex system, and not be able to get an account. It does not matter if she is in telcheck. That is only for pay day loans and rent a center type stuff.It will prevent her from getting any other pdls.Thats a good thing.
If you are reported to chex system you remain for 5 years.

Posted: Thu Mar 06, 2008 3:42 pm

Right. I always get telecheck and chex system confused. Sorry about that.

Posted: Thu Mar 06, 2008 5:40 pm

TG, I just checked Texas licensee database for your internet loans. I'm not showing any as licensed in Texas. However, the one I am concerned with is Pay Day One. They are usually licensed. They may be using a license from another state as a 'blanket' license to lend to other states. The others are not coming up at all. You've overpaid them all except Pay Day One, Aero Advance, and Ambassador. As you can tell just from looking at your figures, they will continue to debit your account FOREVER. You've already paid the principle amount PLUS more and they will continue to debit. So, you would need to close your account. Unless you want this to continue for years. If you attempt to call them, they will hit your account for all they possibly can. You need to get your bank account closed/blocked so they can not debit you any longer. You really have no other choice because they will not stop. And, like I said, if they catch wind that you're "not going to be able to pay", they will hit that account with a vengence and try to get every dollar they can.

Posted: Thu Mar 06, 2008 5:52 pm

In Texas, PayDay One Express, LLC is a Credit Service Organization (CSO) registered with the Texas Secretary of State. We are not a lender, and cannot promise that the lender will extend credit to you. The lender makes loans at 10% per annum simple interest. We are obtaining an extension of consumer credit for you from the lender. For this service, PayDay One charges a fee of $22.50 per $100 of the Amount Financed.

paydayone.com/modules/state/states.aspx

Posted: Thu Mar 06, 2008 6:07 pm

Thank you, volley, for verifying the information regarding Pay Day One for TG. Very Happy

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