PayDay Loan Help - State of Virginia

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Send message to mzdee513
Sub: #1 PayDay Loan Help - State of Virginia
Replied on 07-01-2011, 12:02 PM
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I live in Virginia and like everyone else I have gotten caught up in this payday/short term loan hell due to financial issues.

I have the following loans:

1. Plain Green ($1,200 Borrowed -$351.24 Paid So Far - $1,103 Still Owed) - *Opened after they became Plain Green

2. American Web Loan - ($700 Borrowed - $630 Paid So Far - $700 Still Owed)

3. AAA Payday Loan - ($800 Borrowed - $800 Paid So Far - $1000 Still Owed ) (Has been extended 4 times)

4. Sonic Cash - ($300 Borrowed - $0 Paid So Far - $405.00 Owed)

5. Check Into Cash (Storefront) - ($800 Borrowed - $209.57 Paid So Far - $780.00 Owed )

6. Cashpoint Car Title Loan (Storefront) - $1200 Borrowed - $758.55 Paid So Far - Approx. $2275 Still Owed)

7. Allied Cash Advance (Storefront - Short Term Loan) - ($800 Borrowed - $925.00 Paid So Far - $1000 Still Owed!!!! None of the $183 Monthly Payment Goes Toward The Principle)
(***This company is harrassing me because I have not made a payment in 2 months. They went as far as to fax a copy of a employment verification to an office that I don't even work for at my local gov't job!)

Please help! Are any of these companies illegal in the state of VA? From what I gathered so far, I need to go into my bank and close out the account and get a guarantee that no ACH's will be allowed thru. Then open a new account. I then should send letters to them. What should they read? Any helps appreciated. And also, can the one short term loan lender harrass me and my references the way that they are?

Last edited by mzdee513; 07-01-2011 at 12:46 PM.
Sub: #2
Replied on 07-01-2011, 07:20 PM
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Payday loans are legal in Virginia. You need to contact the Virginia Bureau of Financial Institutions and check out whether or not the payday lenders, that you've mentioned here, are legal in your state. If you find that they are legal in your state, then you should negotiate with them so that you can get an affordable payment plan to pay them off.

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Send message to moira4eku
Sub: #3 Pay Day Loans in Virginia
Replied on 07-01-2011, 08:38 PM
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Store front Payday loans are legal in Virginia but all internet lenders are illegal and it is a class 6 felony to loan to Virginia residents via the internet! I hope that helps!




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