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 Posted: Mon Aug 06, 2007 10:36 am Subject: Payday Loan Nightmare
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I have never posted on a site like this, and certainly wish I had done so much sooner. I have recently found myself in payday loan hell.....does anyone know of a credit counseling company that works with pdl companies? I really need some help and am in WAY over my head. My loans are all internet 'stores' and one is an actual store front lender. Any help would be greatly appreciated. Thank you all, Liz.
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lizbiz21
Joined: 06 Aug 2007
Posts: 1
Debtcc Points: 70
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Posted: Mon Aug 06, 2007 10:55 am Subject:
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HI
I would try Langhorne Law. There number is 1-866-529-0217. Or just get the tips on this site. It worked for me. It's only been 2 weeks and I have 3 Paid in fulls...
Cindy
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cynthiaw4
Joined: 23 Jul 2007
Posts: 90
Debtcc Points: 1712
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Posted: Mon Aug 06, 2007 11:23 am Subject:
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In which state do you live? What are the storefronts and what are the internet payday loans you have? Also, can you let us know how much your original loan amounts were for and how much you have paid already? If you can provide this information, we can better assist you. In many cases, you may find out that according to your state's laws you may have already overpaid and don't need to consolidate every pdl you have.
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joshua1987tree
Joined: 01 Jun 2007
Posts: 487
Debtcc Points: 7999
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Posted: Mon Aug 06, 2007 12:44 pm Subject:
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WOW! All along I thought I was the only one with payday loan problems. Finding a lot of info here. I've got a total of 5 loans out. I would like to get out of this mess I have created...it would help IMMENSELY. I am in California.
Loan companies are all internet lenders.
GFSIL
AIP
WorldWideCash
Fastbucksnow
MagnumCashAdvance
Any help is appreciated. THANKS!!
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grdgz79
Joined: 06 Aug 2007
Posts: 27
Debtcc Points: 1156
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Posted: Mon Aug 06, 2007 12:48 pm Subject:
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| Quote: | California State Information
Legal Status: Legal
Citation:
Cal. Fin. Code ยงยง 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
http://www.corp.ca.gov/ |
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joshua1987tree
Joined: 01 Jun 2007
Posts: 487
Debtcc Points: 7999
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Posted: Mon Aug 06, 2007 12:51 pm Subject:
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I've personally dealt with AIP and World Wide Cash myself. I sent complaints to the BBB, the DFI, and the FTC on these, and actually ended up getting a refund from AIP a few weeks after I filed the complaint. I had paid $556 in total amount of fees for a $200 loan, and ended up getting back $320.
I had defaulted on a $200 loan with World Wide Cash, and they wanted me to pay them back the principal even though I had overpaid so much on my previous loans with them, but after I sent in my complaints they sent a response to the DFI, letting them know they marked my account PAID IN FULL.
I am sure someone else will put in their two cents and experiences about the other payday loan companies that you have currently.
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joshua1987tree
Joined: 01 Jun 2007
Posts: 487
Debtcc Points: 7999
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goudah2424
Moderator
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