Internet's first get-out-of-debt community - 134,000 members

Posted: Fri Nov 10, 2006 2:37 pm Subject: Where do I start?

I don't think my first question went through. I got myself stuck in the PDL hole in two months. I started off taking a PDL with a true emergency...I took another PDL to pay a late bill I had. When payday hit both PDL's were taken from my account. The finance charges put me farther behind! So.. I took another PDL to cover my first two! Then a larger one to try to cover those ones. I'm now $2000 in the hole and am currently seeking a second job to clean up my mess. I know it was my own stupidity that got me in this bind, but I'm looking for a way to clean up my mess that won't cause me to lose my vehicle, etc or get farther in debt. Where did you all start with pulling yourself back together? I'm just stuck, don't know where to start! My income is now less than half what I was getting paid because of these deductions from my account...I talked to others about my mistake, it is my fault, the loan companies have to make a profit, etc, etc but I realize I can't do this without some kind of help. I was thinking of a consolidation program, and I don't know where to start with that either. I'm 28, four children, work full time already, I can only think of getting a second job. Any ideas? Anyone have a story about how you got out? I'm glad I found this site.

Posted: Fri Nov 10, 2006 2:41 pm Subject:

I am just starting to dig myself out as well. I have done a lot of searching, reading and asking on here. These guys are a huge help. I didn't know where to begin either. I started by closing my current account which also meant stopping ddeposit. We reopened another and will start dd again. Today, I composed my letters to them. Are they legal in your state?

Posted: Fri Nov 10, 2006 2:43 pm Subject: Not sure

I was reading that in another blog...about closing the account and writing the companies. I don't know if PDL's are legal in New Mexico. Where do I find that out? I can be so dumb about credit and things like this! Is there a place to find out if they are legal?

Posted: Fri Nov 10, 2006 2:47 pm Subject:

Can these company garnish my wages. I was thinking of letting them take the whole amount (instead of just the finance charges) and dealing with the overdraft fees from the bank. At least the loan companies will be off my tail and my next three checks will go to the bank. Sad

I don't know. Then I'll be two months behind on my OTHER bills. YIKES!

Posted: Fri Nov 10, 2006 2:47 pm Subject:

I'm not sure of the link, but I have it bookmarked. It looks like New Mexico is legal. Up on the right hand side there is a search box, type in your state and see what comes up from the forums. It's a big help.

Posted: Fri Nov 10, 2006 2:53 pm Subject:

mairaevans - here is the link to go to
www.paydayloaninfo.org also are these loans internet or storefront

Posted: Fri Nov 10, 2006 2:57 pm Subject: internet

These are online PDL's. I'm getting freaked out reading all these blogs! I pray that I can get out of this quickly and easily. I owe $2000 and don't know HOW it's even possible to do so in the next month and a half. I see "no limit" on a lot of the areas on that site under New Mexico. Can a block be put on my account or would I have to just close the whole account I wonder? I also recall an area on one of the screens that says they saved my IP address in case I try closing my account. I'm getting scared here.

Posted: Fri Nov 10, 2006 3:02 pm Subject:

Close your bank account and open a new one. Once you default on your pdl's most of them will work with you to set up payment plans. What companies are you pdl's with? You said they are all online, right?

Posted: Fri Nov 10, 2006 3:12 pm Subject: Yes online

I was searching and I do have a Rio Resources one called USFastcash. No!!! I also have Ameriloan, Cash Central, and Cashnet. I am so ....lost. I can not believe i got myself in this mess. I will most definately be telling others not to mess with these loan companies.

Posted: Fri Nov 10, 2006 3:18 pm Subject:

Ameriloan and Rio Resources are the same company

Posted: Fri Nov 10, 2006 3:19 pm Subject: email

I just emailed my Bank. Today is a holiday, everything is closed. I guess I can get back to this on Monday. I just worry that my wages will be garnished. I will have to call to get my Direct Deposit stopped, open a new account, and pray that these companies will work with me in repaying them. Thanks for your help.

Posted: Fri Nov 10, 2006 3:21 pm Subject: credit

Boy, I guess my credit is going to be more messed up than before! These PDL's will go on my credit report, I believe it already is...wow.It's a hard lesson for me to learn but I'm smack in the middle of it.

Posted: Fri Nov 10, 2006 4:00 pm Subject:

I know easier said than done, but don't stress. I don't believe that they go on your credit report. Someone will correct me if I'm wrong, but I'm pretty sure they don't. Most of us here know how you feel Smile

Posted: Fri Nov 10, 2006 4:04 pm Subject:

ltr32698 is right, in most cases they do not go on your credit report. Unless they sell the account to an outside CA then there is that chance, but most of these illegal pdls use inhouse CAs who don't follow collection laws

Posted: Fri Nov 10, 2006 4:07 pm Subject: credit

i'm in the same situation i have ameriloan, GFS, cashlink and nationwide cash...i've been put on bedrest so i have no income at ll the lady from nationwide cash was on the phone harrassing for about an hour, i'm in MA.

this has become my worst nightmare my bank account is overdrafted 800 dollar.

one company took a out 4 different payments today so that means my bank will charge me 35 for each.

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