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gpitts · Posted: Wed Oct 03, 2007 7:52 am Subject: any advice please??

I seem to have gotten myself into a hole that is just getting deeper and deeper. My bank account at the moment is -764. I have a cashcall loan and two payday loans that were gotten online. I was considering getting another loan or something to even out my bank account but am not sure that is the smartest path. I dont have the best credit and cant get normal loans. I was also considering closing the bank account and working out payments with them, if banks even do that?? I have read alot of posts that talk about consolidations but the things i have heard about these services in the past havent been positive. I have heard they will take your money and not pay all of what they are supposed to and also that they ruin your credit even more than it is.

I also have credit card debt, a dell debt and a baber's debt. babers is a local store where you rent to own. I am current on those but with this bank account im not sure it will stay that way. I also have to pay my lawyer 500 out of every check for a few months for legal fees. The only thing is that if i could get the bank account back to normal then i would be ok. But as it is with the fees and all im just getting deeper and deeper. I make ok money but i cant seem to get out of this.

Im only 25 and i keep telling myself im young enough to dig my way out and still have a good life. I considered the credit counselors here but im also deaf so that rules out phone call sessions. I feel so stupid for letting things get this bad so fast.

Posted: Wed Oct 03, 2007 8:47 am Subject:

DO NOT feel stupid, there is a way out and you have come to the right place, we all understand the situation you are in, and have been there or still are there ourselves, I just found this site a couple months ago, and it is the best thing that could have happened to me. In order for someone to help we need a little more info, please post, the state you live in, who the Internet loans are with, the original amount of the loan and what you have paid so far. Also if you sign up on the site, (it's free) you are entitled to a free debt counseltation. Hang in there, we are all here to help. Post any other questions you may have.

Posted: Wed Oct 03, 2007 9:20 am Subject:

Im from Mississippi
Two payday loans from ameriloan balance: 390 (only paid 90 on it so far) and from Instant Loan Today balance :520 this one is new and i have my first payment on the 15th.

Posted: Wed Oct 03, 2007 9:21 am Subject:

the problem with the free consultation on here is that they will call you and i am deaf so that doesnt help me any.

Posted: Wed Oct 03, 2007 9:25 am Subject:

Here are the laws for your state

Posted: Wed Oct 03, 2007 9:41 am Subject:

Do you know which one of the company's below, you have the loan out with?
The one in CO had their licensed cancelled in 1998, trying to find out if the one in NV is licensed. I'm new to this, but from what I can tell, your state does not permit PDL's to be rolled over. Out of the $90 you paid to ameriloan, did any of it go toward the principal, or did they roll it over?

Ameriloan Inc
5350 S Roslyn St #308
Englewood, CO 80111
Telephone: (303) 649-0136

AmeriLoan
2533 N Carson St
Ste 4976
Carson City, NV 89706
Fax: (800) 475-1379

Posted: Wed Oct 03, 2007 9:46 am Subject:

it was a rollover extension. and im not sure the address, i couldnt find it on the website or my loan documents. It is the second loan ive had with them and the first was paid off with no problems. the website is

ameriloan.com/

Posted: Wed Oct 03, 2007 9:58 am Subject:

Here is the contact info for Instant Loan Today

Instantloantoday.com
369 East 900 South # 324
Salt Lake City, UT 84111
Telephone: (866) 735-4020
instantloantoday.com

I would send both the Internet PDL's letters revoking their authorization to debit your account and revoking any wage assignments you may have signed. If you don't know which ameriloan you are dealing with I guess it wouldn't hurt to send it to both. But I'm thinking it's the one in Nevada. You need to get them to stop hitting your checking account and running up more fees. I do not believe your bank will allow you to close the account with a negative balance, but maybe you can talk to them, and get them to stop the debits to your account, give them copies also of the "Stop Authorization letters". Also be sure to send the letters via certified mail with a return receipt. Keep copies of everything for yourself. Once you get them to stop hitting your account, you can concentrate on clearing up what you already owe the bank, and deal with them later. I am not familiar with Cash Call loans, but I'm sure someone will be along soon to offer some help.

Posted: Wed Oct 03, 2007 9:58 am Subject:

I did go by my bank today to talk to them about being overdrawn and see if we could work something out. They are going to stop the bank overdraft fees so that means it wont go any higher. They told me to come back on the 13th to talk to the account manager. He was at another bank. The woman talked to him on the phone and he said he may be able to help me work something out.

Posted: Wed Oct 03, 2007 10:02 am Subject:

Well that is very good that your bank seems to be willing to work with you. You also need to file complaints against ameriloan and InstantloanToday, file with the Better Business Bureau, your states Attorney General. I don't believe these company's are licensed to do business in your state.

Posted: Wed Oct 03, 2007 10:27 am Subject:

I totally agree with what teria is telling you Laughing

. Good luck with your meeting with your bank. I am sure if you have been a good customer they will be willing to work with you by setting up payments.

Hopefully the branch manager can get your account closed so that nothing tries to clear and charge you more NSF fees.

ladybug

Posted: Wed Oct 03, 2007 1:41 pm Subject:

Does anyone have a sample of the letter i could use as an outline? Also, how can i find out for sure if these two companies are licensed in my state? It would be handy to know for sure before proceeding.

Posted: Wed Oct 03, 2007 1:52 pm Subject:

Posted: Wed Oct 03, 2007 2:18 pm Subject:

I would call the number listed above, in the post of your state laws. They should be able to tell you if they are licensed to lend in your state. Even if they are, it doesn't mean you have to keep letting them suck money out of your account. You still need to send the revoke authorization letters.