hi! I have to say that after spending many many hours this weekend trying to figure out how the heck to get myself out of this cycle of hell, you guys have given me some hope!!! I live in michigan. I know that the regular store loan places are legal and if I am correct the only online legal one is check n' go. Here is my sad story.... the first 2 are the store front kind.
advance america- 565.45 (borrowed 500). did sign up for the installment plan which i paid the $16 and then they broke it up into 3 payments, so 6wks total to pay it back at 188(and change).
instant cash- 314.45(borrowed 275). I also signed up for the installment plan for this as well.and also pd the 16$. my payment was 104(and change).
now the tricky part. My hrs at work got cut, and i mean way cut so when my payday came i really didnt know what to do. i have 4 kids and i had to have some money so i could feed them at least. i couldn't do both payments so i did do one and it was the $104. well after dinner that night i was really bummed out as i felt awful that i couldn't pay them both like i had promised to do. advance has always been so good to me! they worked with me all the time, which i appreciated!! but then i came across online payday loans not intentionally but anyway after feeling bad i ended up signing up so i could fullfil my obligation to advance and to my bank for overdraft fees. plus i had helped a friend and her check came back so i had fees for that too.
my next day cash- 400 (120fee)
vandelier group llc-300(90fee)
vince interprises ltd.-200(60fee)
whitehills cash-305(dont know yet but i assume its 90)
my cash guardian-400(120ffee)
spot on loans=50(15fee)
so now you see that i have gotten myself into real trouble. took another loan to pay the loan before it and so on. I also defaulted on half of the online loans last check and now this fri will default on the rest. 2 of them this fri will be the first payment.
so this is what my understanding of the laws in michigan. you can't "rollover", you can't have more than 8 loans, no one is supposed to lend to you when you are currently in default on another loan, also the return item fee on all of these was $30 and i thought that the max in mi is$25. i also have a charge for ss lendfast. i never signed up for anything with them, i am meeting with my credit union in the morning to hopefully close the account. but the lady that i talked to didn't really want me too. she said that if i did take the loan out then i cant dispuit the charges. could use whatever help you can give me. my phone has been ringing non-stop!!
thank you!! i look forward to hearing from you all! :)
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