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 Posted: Thu Oct 05, 2006 2:00 pm Subject: Payday loans are killing me. |
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I have multiple payday loans due tomorrow and my account is already overdrawn. I'm totally sunk.
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andrews_v_r
Joined: 05 Oct 2006
Posts: 13
Debtcc Points: 440
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| Posted: Thu Oct 05, 2006 2:01 pm Subject: |
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If it's not too late, go to your bank and stop the ach payments
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scotch
Debt Samaritan
Joined: 21 Sep 2006
Posts: 171
Debtcc Points: 3334
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| Posted: Thu Oct 05, 2006 2:01 pm Subject: |
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What state are you in? What are the name of the pdls (are they internet,storefront, or both)?, Is it too late to open a new account somewhere else, and redirect your direct deposit to the new account? This may be the only way to take control of the situation. It also would help to know the names of the companies you are dealing with.
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5315
Debtcc Points: 71264
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| Posted: Thu Oct 05, 2006 2:25 pm Subject: Storefront & Internet |
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I am in Washington State.
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andrews_v_r
Joined: 05 Oct 2006
Posts: 13
Debtcc Points: 440
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5315
Debtcc Points: 71264
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| Posted: Thu Oct 05, 2006 3:45 pm Subject: |
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can anyone give me MA's PDL laws. ilive in MA, but does is matter what state they r in ?
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fredestrada1
Joined: 04 Oct 2006
Posts: 3
Debtcc Points: 98
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| Posted: Thu Oct 05, 2006 3:48 pm Subject: |
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It doesn't matter what state they are in, they have to follow the borrower's state pdl laws. They will say you signed an agreement saying you will follow their laws, but they can not enforce that because that is illegal. Hopefully somebody will be able to find the law for MA.
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5315
Debtcc Points: 71264
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| Posted: Thu Oct 05, 2006 3:56 pm Subject: |
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Payday loans are illegal in MA. With that said, no loan company should come in your state and lend money to people. Most internet companies do this because they want to charge their obnoxious interests on people. Don't fell into the prey. If you have a loan from any company, pay back the principal amount only. Take the help of your state Dept of Financial Institutions. http://www.state.ma.us/dob
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BuildingWealth
Debt Samaritan
Joined: 30 Jun 2006
Posts: 499
Debtcc Points: 4962
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| Posted: Thu Oct 05, 2006 4:30 pm Subject: |
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Hey Andrews,
I know exactly how you feel. I was in the same boat with 5 of them up until 2 weeks ago when I found this awesome site!! Now, I am down to one pdl after sending letters revoking the authorization for them to withdraw money from my checking account and to mark me paid in full. 2 of them forgave my balance (which totalled over $1000 in principal) and the others settled with me for $100 each. Cashnet500 are being pains, but they'll come around!! Good luck and use this info you get from here..........it really does work!!
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CnCsMomma
Joined: 14 Sep 2006
Posts: 49
Debtcc Points: 2254
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| Posted: Thu Oct 05, 2006 4:34 pm Subject: |
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wow wish i was that lucky i have 3 out and they cant seem to help me out very much.
k
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goofy14you
Joined: 03 Apr 2006
Posts: 55
Debtcc Points: 1298
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| Posted: Thu Oct 05, 2006 5:04 pm Subject: |
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Are these internet or storefront pdls?
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5315
Debtcc Points: 71264
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| Posted: Thu Oct 05, 2006 5:19 pm Subject: |
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mine are all storefront. just talked to them and not much they can do for me unless i want to pay half now and half in 2 weeks.
k
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goofy14you
Joined: 03 Apr 2006
Posts: 55
Debtcc Points: 1298
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| Posted: Thu Oct 05, 2006 5:24 pm Subject: |
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Storefronts are tough, some have been willing to work with others on this forum and worked out arrangements. They usually will take you to court to get their money back. Have you explained your situation, pleaded? Sometimes crying a river helps, if they want their money because going to court takes up time and more money for everyone. I think I read a post earlier where somebody sobbed and finally got them to work with them on a payment plan.
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5315
Debtcc Points: 71264
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| Posted: Thu Oct 05, 2006 5:26 pm Subject: |
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they dont care and they said that is all they can do to help me so now i have to find some way to either come up with the money or just keep paying them. or maybe consolidation. that i guess is still and option.
k
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goofy14you
Joined: 03 Apr 2006
Posts: 55
Debtcc Points: 1298
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| Posted: Thu Oct 05, 2006 5:28 pm Subject: |
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What are the names of these companies, and I forget what state you are in. Maybe somebody here has dealt with them and is from your state. I think if you stand your ground eventually they will cave and work out a better arrangement with you, just be persistant.
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5315
Debtcc Points: 71264
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| Posted: Thu Oct 05, 2006 5:39 pm Subject: |
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fastbucks(payday everyday), check into cash, checkmate. i am in colorado. so any help would be appreciated.
k
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goofy14you
Joined: 03 Apr 2006
Posts: 55
Debtcc Points: 1298
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