payday loans HELP

There are several payday loans in my name and my husband's names that I need to resolve. I have already closed the account. We are in Pennsylvania. They are all internet lenders. The companies are

Sonic Cash $500
ameriloan $300
Payday Select $500
Cash Net USA $1200
Honest Payday $500

Most of these have been rolling over for 6-9 months, so I have paid tons of interest. Please tell me how to work out arrangements with these companies.

Pdl's are not legal in PA. However, PA has some funky "loop hole" regarding internet pdl's. It's kind of a gray area. Goudah is pretty good at explaing the PA law because it's so confusing when it comes to internet loans. But I'm posting your PA state pdl law for you to see. And hopefully goudah can come along behind me and explain it further.
Pennsylvania State Information

refer
banking.state.pa.us/banking/site/default.asp

Hello! Pretty much what happened is when PA wrote out it's laws, it put the term "In this commonwealth" into it. Meaning that they only apply to businesses physically located in PA.

I have some emails from James Keizer, the guy in charge of regulating these places for PA:

Find more info here - banking.state.pa.us

You can also find a letter posted on the PA Dept of Banking's website. If you go to laws and regulations, interpretive letters, then commercial code, you will find a letter about internet lenders halfway down the page.

What this means is that internet lenders can lend to PA residents AS LONG as they are licensed in another state, and follow the laws of the state they are licensed in. If they are not licensed anywhere then they are 100% illegal.

BUT - Sometimes when you call the AG's office they will say differently. Sometimes they will refer you to James Keizer. Sometimes they will take your complaint and help you. Sometimes they will tell you they can't give legal advice. It can be really hit or miss, but file complaints with them anyways. You never know, it may be an on day and they will help you!

I can tell you right now looking at the list of companies you are dealing with that Cash Net USA is loaning money legally in PA under their Nevada license. Payday Select I think is licensed in Deleware. The rest of them aren't going to be licensed anywhere, but I haven't heard of Honest Payday before, so that one may need some checking out first.

paydayselect is very easy to get a Paid in Full. Just go to there website click on my history and print your loan details. Ass up all the charges and what you got money wise. e-mail them from there website with this information and they will e-mail you back. Most likey paid in full. I'm in PA also. In your e-mail insert the info goudah has about Pa laws. Hope this helps for atleast one of your loans.
Thanks
Cindy

I have looked at all hte information on this site and contacted the companies via email. I am hoping to clear up at least the payday select at this point. After checking my loan history I have paid interest for a year on a $500 loan. I think I have paid them over $2400 in interest only. I hope this will be enough to resolve that one. Thanks for the help. I will let you know what happens.

Good luck! Keep us updated on your progress!

Wow! I can't believe that I am not the only one who has these internet loans. I am ashamed to say I have 5. They are so handy when the rent or electric is due and I don't have enough money to keep the utilities on. I am sitting here thinking that my whole pay on Friday is going to pay the extensions on these loans. I wish I had never even heard of them. I might be in the dark, but I wouldn't be so worried about how I am going to pay them back.

Reading this forum has provided me some hope. I am glad I stumbled upon it. Actually, I, also was trying to find an address for GECCLOAN. This is what appears on my bank statement:GEC 866-432-2562 GECCLOAN 26209A.
I cannot find a website other than their front page.
It was a $400.00 loan, but I wanted less. I didn't get the chance to request anything less before it went through. In fact, I had barely just filled out the forms. I didn't even know that I got it until I looked at my bank account.

I am in so deep that I was even considering trying to get another one just to cover the extensions. Thank goodness I stumbled onto this site.

zerah, honey, five? That's nothing compared to some of us! Honestly. Do not be ashamed. You were sucked in just like everyone else and now being taken advantage of. I have information for GECC. Hell, I think I have information on way too many! LOL! Here's what I have. And they "settled" with me. I'll include the contact name of the person for you also.
GECC Loan
300 Creek View Road
Suite 204
Newark, DE 19702
Tracy L. Callaway - Customer Relations Supervisor
email: tcallaway(at)geccloan.com
Phone: 302-737-0926 ext. 302
Fax: 302-737-3873
Try contacting her. She's one of the supervisors. She worked with me. Hope it goes well!

Thanks for the information. I will try it.

One of the loans I have actually starts taking more $ after 4 extensions to help pay down the loan. The interest is still atrocious, but at least they recognize the difficulty these loans cause.

I was listening to Dave Ramsey on the way to work, I wish I could follow his system... but I can't even think of that until I get these horrible internet loans off my back.

Thanks again.

zerah, what state are you in? Most states don't allow these "rollover/extension" fees that they're charging you.

I am in Johnstown Pennsylvania.

From what I have read on this forum, the loophole is that the companies are not located in the Commonwealth.

Damn PA! It depends on if the pdl is licensed in another state. We can check to see if they're licensed. If they are not licensed, then they are illegal. PA allows for internet lenders to lend to PA residents if they have a license somewhere. A whole hell of a lot of pdl's don't. If you wish (and you don't have to), you can post the pdl name and we can check to see if they're licensed anywhere. They may not be. Or you may have already done this. Whichever. Just post if you want!

I have several loans they are from one click cash, ameriloan, cash net usa and 800899 cash. are they legal in pa? I'm being threatened and it's scaring me, my family would throw me out if they knew of these loans.

I believe ameriloan is illegal.

Ameriloan is definitely illegal.. Cashnet usa is legal but they will work out payment arrangments with you. I'm not sure about the other two.

i had a new bank account