| Message |
Author |
 Posted: Sat Dec 16, 2006 9:30 am Subject: How long can a loan company charge interest on a 200.00 loan |
|
|
how long can a loan company charge interest on a 200.00 dollar loan. Can they garnish your wages if you don't pay the interest. How can i get them to quit calling my job
|
|
wheat_elaine_judy
Joined: 16 Dec 2006
Posts: 5
Debtcc Points: 157
|
|
|
| Posted: Sat Dec 16, 2006 9:31 am Subject: |
|
|
Hi wheat_elaine_judy , welcome to the boards many will be glad to helpy ou here. Is this a payday loan, what kind of loan is it? Thanks and keep posting
|
|
PDLFREE
Joined: 07 Oct 2006
Posts: 1264
Debtcc Points: 18243
|
|
|
| Posted: Sat Dec 16, 2006 9:32 am Subject: pay day loan |
|
|
Yes it's a payday loan
|
|
wheat_elaine_judy
Joined: 16 Dec 2006
Posts: 5
Debtcc Points: 157
|
|
|
| Posted: Sat Dec 16, 2006 9:34 am Subject: |
|
|
What state are you in? How many payday loans do you have out? You might want to think about closing your bank account
|
|
PDLFREE
Joined: 07 Oct 2006
Posts: 1264
Debtcc Points: 18243
|
|
|
| Posted: Sat Dec 16, 2006 9:39 am Subject: Payday loans |
|
|
I live in Arkansas. I have a loan with route 66 and arrowhead investments, 500 fast cash. I was paying their fees when i got messed up in the bank. I would be glad to pay what I owe if their work out a payment plan and let me have their address so i can send money orders. but i need em to stop calling my job befour i get fired and not to garnish my wages.
|
|
wheat_elaine_judy
Joined: 16 Dec 2006
Posts: 5
Debtcc Points: 157
|
|
|
| Posted: Sat Dec 16, 2006 9:42 am Subject: payday loans |
|
|
How do I stop em from keep hitting my bank
|
|
wheat_elaine_judy
Joined: 16 Dec 2006
Posts: 5
Debtcc Points: 157
|
|
|
| Posted: Sat Dec 16, 2006 9:44 am Subject: free travel |
|
|
I wanted to order something from them, then decided to cancel but they won't do it. they just keep hitting my bank what do i do to stop it.
|
|
wheat_elaine_judy
Joined: 16 Dec 2006
Posts: 5
Debtcc Points: 157
|
|
|
| Posted: Sat Dec 16, 2006 12:51 pm Subject: |
|
|
The first thing you need to do is close you bank account, you need to regain control of your finances. Do not promise or send them any more money and do not give them new banking informatiob. If you send me a PM with your email address I will help you get through this mess. good luck and keep posting
|
|
PDLFREE
Joined: 07 Oct 2006
Posts: 1264
Debtcc Points: 18243
|
|
|
| Posted: Sat Dec 16, 2006 5:23 pm Subject: Please Help |
|
|
I have 9 payday loans out and just lost my job. what do I do?
|
|
pjblake
Joined: 16 Dec 2006
Posts: 40
Debtcc Points: 1055
|
|
|
| Posted: Sat Dec 16, 2006 5:26 pm Subject: loan |
|
|
Welcome to the forums PJ. What state are you in? Are they internet or storefront? KYSIDE38
_________________
RYDERS OF THE NIGHT
|
|
KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
Debtcc Points: 37316
|
|
|
| Posted: Sat Dec 16, 2006 5:41 pm Subject: |
|
|
pjblake, welcome to the debt boards. We are all here to help you in any way we can. What state do you reside in? I would recommend that you close your bank account espcially since finances will be tight. Then they can't take anymore money from you and you regain control. keep posting and good luck
|
|
PDLFREE
Joined: 07 Oct 2006
Posts: 1264
Debtcc Points: 18243
|
|
|
|
WHEREAMI
Joined: 26 Aug 2006
Posts: 5316
Debtcc Points: 71262
|
|
|
| Posted: Sat Dec 16, 2006 8:10 pm Subject: |
|
|
I am from New jersey. All of these loans are from the internet. I never sent any of these places paper checks or they asked for them. All I know I would fill out a form online or via email. Half the time I never even got a form from them, just an email. I believe I read once before on some of the sites that I can not close my bank account. My problem is I have been dealing with quite of few of these for awhile. The are not first time loans with these companies. I had a few and pay it bank and then renew and then do it again. Overall I am sure the fees have exceeded the principal on most of them over time. Here is what companies I have the loans with:
Paychecktoday $300 + $90 interest
ZipCash $500 + $150 interest
OneClickCash $250 + $75 interest
Soniccash $500 + $100 interest
Cash2daylimited $275 + $80 interest
ameriloan $400 + $120 interest
LoanPointUSA dba Geneva Roth Ventures $300 + $90 int
XpressCash dba DMS Marketing LoanShop#1 $300 + $90 int
XpressCash dba DMS Marketing LoanShop#2 $300 + 90 int
Please Help!!!!!!
|
|
pjblake
Joined: 16 Dec 2006
Posts: 40
Debtcc Points: 1055
|
|
|
| Posted: Sun Dec 17, 2006 5:31 am Subject: |
|
|
Hi PJ,
I am from New Jersey too. First thing pdls are prohibited in our state. You need to sit down and calculate how much you have already paid these people and close out your account so they can stop the debits. There is also a templete letter on Pollys Blog that you can tweak to your standards and send to these companies. Also please file complaints with our AG's Office, BBB and the FTC, like I did. If you need further help i will do my best. Just give me a pm.
|
|
traci78
Joined: 04 Oct 2006
Posts: 106
Debtcc Points: 587
|
|
|
| Posted: Sun Dec 17, 2006 10:26 am Subject: |
|
|
ok I will start that this week. thanks for your help
|
|
pjblake
Joined: 16 Dec 2006
Posts: 40
Debtcc Points: 1055
|
|
|
| Posted: Sun Dec 17, 2006 10:34 am Subject: |
|
|
First, it depends if it is a legal contract. If they are not legal, then they cannot charge you any interest.
If it is a legal contract, then the way they can charge interest is outlined in the contract. Some charge a flat fee while others charge daily interest on a principle balance.
In the case of a daily accrual, it could keep going on until the account is paid off. But again, this would be if it was a legal contract.
|
|
DebtCruncher
Moderator
Joined: 07 Nov 2006
Posts: 1569
Debtcc Points: 17628
|
|
|
