Hi nas866.
I joined recently, also, but I'll tell you what I've learned so far. First, were these internet loans? If so, they might not be licensed in your state, which would make the loan void. You might owe the principal, but if the interest you paid covers the amount of the principal, you may owe nothing. If they are licensed in your state, though, you'd have to go according to those laws. To see if they're licensed in your state, go up to the google search on the right of this page and type in Pollyandsay's. Pick "Pollyandsay's home page." To the left, you'll find her blog. Enter that. Scroll down. To your right, find Corporations search by state. Find your state. Pick "business name." Enter the payday loan company's name exactly as it appears (paying attention to capitalization, spaces, etc.). Hit submit. If "no row returned" comes up, they're not licensed in your state. If their company does come up, then they are licensed but need to go by the laws of your state. To find out the laws of your state, I searched Yahoo for Payday Loan Consumer Information. On your left, go to state information. Find in the text where it has underlined "National consumer law center's summary of state laws." Scroll down to your state. Also Pollyandsay's blog has a template for different letters you can use to send to these companies revoking your authorization for debits from your account. This should at least point you in the right direction. Best of luck to you.
