Does anyone know the PDL laws in South Dakota? I'm working on getting out from under the PDL nightmare I've created for myself.

I currently have six loans:
Amerioan $390
CashNetUSA $275
USFastCash $260
Cash Central $390
Quick Cash Advance $390
Quick Draw Cash $390

I'm currently paying over $450 every two weeks in interest alone. I've contacted T&C which is sending out some info on how to deal with a consolidation. I understand a change in checking account may be in order I would like to avoid this if at all possible.

I've searched the forums for the laws in SD with no luck can anyone point me in the right direction?

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Hi psychotic, welcome to the forums. You will find the Payday loan laws for South Dakota here (just select your state),

http://www.debtconsolidationcare.com...pdls-laws.html

I am not sure what all this means but I am sure someone will be along shortly to give you advice. In the mean time feel free to vent and know that you are not alone in this mess.

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Pretty much it means that the only requirements are that the pdl's be licensed, and that the loans are only rolled over 4 times. Other then that they can charge whatever they want. But don't get discouraged, that is the same way the laws were in my state, and I was still able to clean up my mess. I've heard good things about T&C, so they may be able to help you.

You probably will have to close your checking account. These companies won't really negotiate with you if they can still hit your account whenever they want. I know it's a pain, but it's the only way you will have piece of mind that the pdl's aren't going to keep taking your money.

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