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 Posted: Fri Feb 16, 2007 10:57 pm Subject: Pay Day Loans Disaster...Info NEEDED!!! |
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I am at wit's end with my pay day loans. I have 6 out myself and my husband has 4. We are having trouble making our normal bills just in readvance fees. We originally got them out to pay for car repairs which were worthless because the car became unfixable so I had to buy a new one (two advances were taken out for the downpayment). Then, last year, my husband was out of work for almost three months, so we had to cover our expenses somehow. My job doesn't pay enough to cover everything. In total, the amount we have out is around $4000 in advances, not counting the fees. We would love to consolidate these or have a plan to pay them back without having close to $1100 a month just in readvance fees. I hear a lot about "T&C" that helps out with this kind of thing. Could someone send me the info on how to get in touch with them?
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KChesneyFaninVA
Joined: 16 Feb 2007
Posts: 22
Debtcc Points: 780
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| Posted: Sat Feb 17, 2007 4:45 am Subject: Who |
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What companies are your loans with?
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fedupinpa
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Joined: 22 Jan 2007
Posts: 1646
Debtcc Points: 21413
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| Posted: Sat Feb 17, 2007 4:48 am Subject: |
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They are with the following store fronts:
Express Check Advance
ACE
1st Choice Cash Advance
Check N' Go
United Cash Loans
Authorized Payday
His are with:
Express Check Advance
ACE
Check First
1st Choice
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KChesneyFaninVA
Joined: 16 Feb 2007
Posts: 22
Debtcc Points: 780
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| Posted: Sat Feb 17, 2007 4:49 am Subject: What state are you from? What companies are your loans with? |
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What companies are your loans with? What state are you from? I was in way over my head too. First thing you want to do is take a deep breath and know that you will get through this with sound mind and not filing bankrupt, ok. So relax, help is on the way, this forum is great for dealing with these sharks, we have all been there and can help you through it. You can even save some money. Tell us what companies they are and what state you live in and we will give you the resources to deal with them. Your ammo to go to war so to speak, hang in there!
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fedupinpa
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Joined: 22 Jan 2007
Posts: 1646
Debtcc Points: 21413
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| Posted: Sat Feb 17, 2007 4:50 am Subject: |
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I forgot to add that I am in Virginia.
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KChesneyFaninVA
Joined: 16 Feb 2007
Posts: 22
Debtcc Points: 780
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| Posted: Sat Feb 17, 2007 7:18 am Subject: |
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| Quote: | Virginia State Information
Legal Status: Legal
Citation:
Va. Code Ann. § 6.1-444 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 7 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot refinance, renew, or extend)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $25 NSF fee; Court Costs; Reasonable Attorney's Fees (not to exceed $250)
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Virginia Bureau of Financial Institutions
Address: State Corporation Commission, 1300 East Main Street, Suite 800 Post Office Box 640 Richmond, VA 23218
Phone: (804) 371-9657
Fax: (804) 371-9416
Regulatory Contact: Susan E. Hancock,, Deputy Commissioner, Consumer Finance
http://www.scc.virginia.gov/division/banking/ |
This is a brief description of the lending laws in Virginia. I have dealt with United Cash Loans and they are not licensed in any state to loan money. How much have you paid on some of these loans? I'm not too familiar with the other ones but do a search around the forums to find out more information.
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CowampChicken
Joined: 20 Dec 2005
Posts: 3675
Debtcc Points: 36194
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| Posted: Sat Feb 17, 2007 6:33 pm Subject: loan |
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Hello I am from WV. I saw on the news here last night where VA is going to set an interest rate cap on these loans. Call your Attorney Generals office consumer division and ask for some help. explain your situation. The news channel was WVVA if you want to look up the story. Best Wishes KYSIDE38
_________________
RYDERS OF THE NIGHT
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2500
Debtcc Points: 37316
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| Posted: Sun Feb 18, 2007 5:14 am Subject: checkngo |
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KChesneyFaninVA, I will be dealing with checkngo online here in a week or two. will keep you updated on what happens. They had to get three returns on the ACH before they would let it go into default. I will keep you informed as soon as I know. Was your checkngo storefront or online?
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fedupinpa
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Joined: 22 Jan 2007
Posts: 1646
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| Posted: Sun Feb 18, 2007 3:29 pm Subject: |
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My Check N' Go was store front.
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KChesneyFaninVA
Joined: 16 Feb 2007
Posts: 22
Debtcc Points: 780
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| Posted: Sun Feb 18, 2007 3:33 pm Subject: loans |
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Fed up , I just wanted to mention check and go online went down in WV. No longer allowed to do business. Of course payday loans are ILLEGAL here anyways but they signed a cease and desist letter. KYSIDE38
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RYDERS OF THE NIGHT
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KYSIDE38
Joined: 19 Jun 2006
Posts: 2500
Debtcc Points: 37316
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| Posted: Sun Feb 18, 2007 3:41 pm Subject: store front |
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The store front was always easier to deal with once they were in default I am hoping that the checkngo online will be as cooperative. I went in default a few times with the store front, they were always cooperative on payment arrangements. Talk to them, explain your situation and hopefully they will work with you. I am in the process of cleaning up this crap myself. Had like 8 or 9, 3 are paid off, 3 has given me descent payment plans, I am still waiting on reprocution of defaulting on 2 more. I am experienced now. LOL.
The ones that are paid in full, work with me when I stuck Pennsylvania state law in their face. One gave me a refund and two of them mark my account paid in full and closed the account.
You will want to sent them a revocation of wage assignment, just in case they snuck one in there on you. You will also want to send them a letter revoking the authorization to ACH your checking account. This will piss them off, but then they will be ready to deal.
Do you have any idea if any of them are licensed in your state? Goodluck! and stay tuned to this site, some one always has good advice and has dealt with the same companies you are dealing with now.
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fedupinpa
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