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stuck · Posted: Tue May 29, 2007 10:18 am Subject: More Advice Needed

I borrowed some money from my dad to help pay off these loans. It was humbling to have to tell him why I was borrowing such a large amount of money. Unfortunately, the PDL fees and interest will come out on this Friday and the check from my dad won't clear until next Tuesday. If I allow all of these fees to hit my account on Friday, I won't be able to pay my mortgage which is already late by 15 days.

Posted: Tue May 29, 2007 2:55 pm Subject:

Speak with your bank and put a stop payment. They will charge a small fee, but that's the only way, I think you will take control. In case, you allow the company to debit from your account and there's no money left, the bank will charge you for NSF fees. So, you have to make a decision.

Posted: Tue May 29, 2007 3:03 pm Subject:

Also, note that most fees from Internet Payday loans are illegal. Check with your state laws to see what is allowed as fees. I would also check to see if any of the loan companies are licensed to operate in your state. If these are store front loan places, then they are most likely licensed, but if they are from the internet, they are most likely not licensed. If they are not licensed to operate or collect in your state, tell them to FUK off.

Guest · Posted: Tue May 29, 2007 6:37 pm Subject:

How can I tell if they are licensed in my state. I live in DE and there is no limit to interest only amt they can loan. They are all internet loans. I have to act fast because tomorrow is it before these loans start to hit.

Posted: Tue May 29, 2007 6:42 pm Subject:

Here is the link to look up your state's pdl laws:
http://www.paydayloaninfo.org/

Posted: Tue May 29, 2007 8:53 pm Subject:

Put a stop payment on it. Buy food, pay your mortgage, etc. before even thinking of paying these people.

Posted: Wed May 30, 2007 5:03 am Subject:

Amen, Law Student. Definately take care of basic needs first before these PDL's are even a thought!

Guest · Posted: Wed May 30, 2007 7:35 am Subject:

I still don't know which companies are leagal in my state and should I just let these default and then try to figure out this mess or contact all these companies today?

The loans (all internet) are
Mycashnow(800) paid well over 1000
united cash loans (x2) (200 left off of 350) (pd 845 on each including the 150 towards principal)
GW financial services (500) pd 700
loan shoppe (300) pd 180 last month in fees
oneclickcash (300) pd 215
paychecktoday (350 but down to 200) pd the same as united
payayonline (500) pd at least 600
I live in DE and the laws are horrible. There is NO limit on interest or payments only the cap at $500.

Posted: Wed May 30, 2007 11:24 am Subject:

Did you follow the link I posted? If you do, just type in the company name of each, and it should show you the status of each. I'll get back with you.

Posted: Wed May 30, 2007 11:27 am Subject:

Try this direct link, so far I could not find a license for MYCASHNOW, so they are not licensed to operate in your state of Delaware. http://banking.delaware.gov/information/nondepsearch.shtml

Posted: Wed May 30, 2007 10:22 pm Subject:

Guest:
It looks like you have paid back all but two of your PDL's, just in rollover fees. I would payback your remaining two and then demand that all of your accounts be marked paid in full or you will go to the Delaware Attorney General.

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