what should i do about these loans?

hello. I have some payday loan issues. one company L&m i borrowed $200 from them. i had to close my accout as i have 4 paydayloans all togeter and they were eatting me alive. L&M have been payed about $140 dollars and now they want to settle for $325. I live in the state of NJ and i want to pay off there loans but i couldn't do it with them taking all of my money out of my account. I owen zip19 and 500fast cash as well the most i've taken was 300 dollars but the payments are so hi i couldn't pay off the loans and still pay rent and eat. Should i take this settlment or have them go through collections?
Pay day loans are prohibitted in the state of NJ

If payday loans are prohibited in New Jersey, then all you legally owe is the principal. They cannot pursue you thru the courts for an illegal debt.

PDLs are prohibited in your state of New Jersey. Check out the PDL laws in your state: http://www.debtconsolidationcare.com...pdls-laws.html

If all your PDLs are online, you are only required to pay the principal amount borrowed since they are illegal in your state: Check out how to deal with illegal lenders: http://www.debtconsolidationcare.com...-dealings.html

so should i tell them to send me to collections? i want to pay them but i don't think i should have to pay that much when they've alreday have over 140 dollars.

Since you borrowed $200 and paid $140, you only owe them $60 more. You need to write a letter telling them that is all you will pay and that you need an address to send them the money via a money order.

i have done that and i am waiting for an email. I also need to work out a payment plan with the others. It didn't take long for this payday loan to get out of hand. about a month. I though i would have the money to pay it right back but to pay it i needed another loan. I got a second job and i closed my checking account. This has all happend with in two months. i feel so lost and ashamed. people keep asking me why am i always broke now. gerrr. i feel stupid.

You should not be so upset. There are lots of people here who have similar experiences. I hope you have learnt from this incident. Get over it and look forward. Best of luck.