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Need payday consolidation company

Date: Fri, 09/15/2006 - 09:46

Submitted by anonymous
on Fri, 09/15/2006 - 09:46

Posts: 202330 Credits: [Donate]

Total Replies: 4


Hello out there, I relief that I'm not the only one who is having such a bad time with payday loans. I have 8 payday loans, and I will like to consolidate them. Can someone help me out with companies that will consolidate these loans. I also need some legal advice as well.
Thanks
salem


I'm going through Auriton however they have dealt with PayDay loans but I've been having a tough time getting addresses to them to send the proposals.

Link deleted as per forum rules - Mike


lrhall41

Submitted by patbb73 on Fri, 09/15/2006 - 11:40

( Posts: 13 | Credits: )


People here can offer you directions on how to work on your payday loan problems. Please consult with your attorney before you finally decide on something because our suggestions are not based on the legal grounds. But, we can help you in your way. In which state do you live and which companies are the loans from? Tell us more about your issues for us to understand.


lrhall41

Submitted by ArDeN on Fri, 09/15/2006 - 12:47

( Posts: 496 | Credits: )


I live in the state of illinois, and my payday loans are with Rio Resource; 500FastCash; Cashnet500; MagnumCashAdvance; United Cash. I have some legal question re Geneva Roth and American WebCash. I also have a loan with a lender that's here in Illinois, which I will be taking care of that very soon. With all these payday loans, I'm spending more on them and not enough on my house payments. And this is causing me to get way behind, I almost lost my house. So you see I need to get this under control, before I loose my house for real. My mortgage company will not be to understanding the next time


lrhall41

Submitted by on Fri, 09/15/2006 - 16:07

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Illinois State Information on payday loans.

Legal Status: Legal

Citation:
815 Ill. Comp. Stat. Ann. ???? 122/1-1

Loan Terms:
Maximum Loan Amount: lesser of $1000 or 25% gross monthly income
Loan Term: 13-45 days
Maximum Finance Rate and Fees: $15.50 per $100
Finance Charge for 14-day $100 loan: $15.50
apr for 14-day $100 loan: 403%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 7 days after 45 consecutive loan days
Repayment Plan: Yes

Collection Limits:
Collection Fees: One $25 NSF fee (Presentment limit = 2)
Criminal Action: Prohibited


Pull all your payment details and find out how much you have paid on each of the loan accounts. You are required to pay only that much your state allows. I find these companies charge excessive interests and fees. I feel you might have already paid them the required amount if you have been sending money since a long time.


lrhall41

Submitted by Christina on Fri, 09/15/2006 - 16:26

( Posts: 438 | Credits: )