I am in trouble with Pay Day Loans and really need advice...

Hi, My name is Krista. Me and my husband both were working, but still some how found ourselves in debt with pay day loan companys. It seemed like the only option at the time. Then after trying for over a year, finally got pregnant with my first child. There were complications, and in fear of losing the baby had to quit my job.

All together we have Eight Pay Day Loans totaling $ 2,210 Dollars. Four finance company loans totaling about $1,500 dollars. All together they are $3,710 dollars.

I feel so stuck and confused, we just don't know how to get away from it. We are behind on all of it by at least a couple weeks, and theres no way we can pay them as we are barely able to pay the rent. I was mostley wanting to know IF pay day loan companys will work with debt consolidation companys at all, And or if we end up filing bankruptcy (which I really dont want to do), if we can even file on them because I live in Tennessee and in this state i'm pretty sure its illegal to have more than 2 advances exceding $500 dollars. And I have also just recently heard that they can have you arrested because writing a check without funds to pay it over $100 dollars is a felony. I just don't know what to do. Any Advice would be greatly appreciated.

Here is a list of the companys we owe and how much.

Advance America $330
Capitol Cash $280 & $230
Check Advance $330
Cash Express $330 & $280
Check Into Cash $230 & $230

Most states you can not be arrested for defaulting on a pdl. I don't know TN laws but if you go to pollyandsays blog she has links to all of the states' pdl laws, that would be a good place to start. If these are internet pdls find out if they are licensed in your state, and if they aren't find out what the maximum interest rate they can charge because if they are operating illegally chances are that you are being charged more interest than TN allows by law. If this is the case then you have more than likely paid back the principal/interest and then some. Use the templates on this site and start sending the internet pdls these letters and file a complaint with your AGs office. Many of us have pdls with ulicensed lenders via the internet and have paid illegal interest rates/roll-over fees and have had success with getting these pdls listed as "paid in full" when these pdls are reported. Some people here have even gotten refunds.

Welcome to the forum! I can understand how scared and frustrated you must be feeling right now. Just relax and know that you've come to the right place for help. If you register for this forum, a debt counselor will contact you to discuss your situation and explain all of the options available to get you out of this and give you some peace of mind. Also, the forum members are very knowledgeable through their own debt experiences and provide invaluable advice and support. I hope you will sign up and let us know what you find out.

Trust me, threats of sending you to jail are nothing but craps. There are no debt prisons for not paying off the debts. The maximum that you can expect is to get a court hearing IF the company is doing their business legally in your state.

You live in Tennessee, some of the members here also stay in your state and are well aware about the laws. They will be of good help to you if they find your post.

At this stage, you still have options of paying off these loan companies either through debt consolidation programs or managing it on your own. Have you talked with your lenders and forwarded your easy payment plans? You should try that because some might agree working on your proposals. How much have you paid on these loan accounts. Your state has a fixed interest caps within which you are supposed to pay the lenders. Verify the rates so that you know about the legal charges.