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 Posted: Wed Mar 21, 2007 10:42 am Subject: Getting out of payday loan hell |
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I found this site after doing a GOOGLE search on payday loans. I am also one of the people in payday loan hell. My paycheck is "eaten up" every two weeks with the rollovers. Getting the money was so easy, and now I have nothing but stress, trying to figure out how to pay the rent, car payment, put gas in the car, and pay normal, everyday expenses. I've found a few references to asking the bank to withdraw authorization on ACH withdrawals by the payday loan companies. I've also read of a few people who had to close out their bank accounts, and then open a new one. I'm open to workable suggestions. Thanks for the great input I've seen thus far.
Ron in Chicago IL
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ronald_fox
Joined: 11 Jan 2007
Posts: 1
Debtcc Points: 30
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| Posted: Wed Mar 21, 2007 11:07 am Subject: |
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Glad to have you here! And I am glad to see you have already been gleaning some advice from the different postings. If you registered with your phone number a debt counselor will soon be calling you and you can discuss options for your situation then. Its a free call, so don't stress. Be sure to check out the posts that relate to closing bank accounts and revoking ACH authorizations. Good Luck---keep posting!
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Lorri
Moderator
Joined: 27 Apr 2006
Posts: 1728
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| Posted: Wed Mar 21, 2007 2:04 pm Subject: |
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What companies are you dealing with? Tell the name of the state from where you took the loan? IPDL companies have to abide by the laws there. Be sure of the laws before closing your bank account. Each situation is different. If you just go ahead and close your bank account without checking on the laws, things might get risky for you.
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mcranberra
Joined: 14 Aug 2006
Posts: 527
Debtcc Points: 7151
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