Payday Loan Help!!

Take the free quote from the counselor referred by this website. Most of them do payday loan consolidation, a few don't. Talk about your situation with him. He will let you know your options.

Thanks for the reply!

Welcome Marieslade, Register for debt counseling and someone will contact you soon. They can get you the help in settling your debt. Good Luck to You. Kyside38

No one has contacted my yet and I need to really figure somehing out. Can anyone give me the names of some consolidation companies that deal with PDL'S?? I'm get desperate!

marieslade,
Sometimes it take a day or two for someone to call. In the meantime, tell us about your situation with your pdls. Maybe we can help alleviate some of your fears.
What state are you in?

I am in Colorado. I have a total of 8 PDLS, 6 are store front and 2 are online (CashNet and United)
I closed my bank account and reopened another one so nothing can be sent through my account. I have not default, but my payments are coming due in a couple
of days and I can not keep up with the interest
anymore let alone pay them off. I need to be able
to make payments on them that will actually pay
them down.

Since your in Colorado, your storefronts are operating legally.
Have you called them to try and make other arrangements? That would be a good first step. Alot of them will work with you, while others may be more stubborn.
In Co. legally, they should not have issued you more than one loan at a time.
As for the online lenders, they are not licensed there to lend. How much have you paid so far into the United and CashNet? Have you at least paid the principal loan back?[/quote]

I am dealing with Cashnet right now. They are completely illegal. They will call you with threats that they are attorneys, investigators, and all sorts of other things. There is Lynn the manager, Scott the collector and Mike and Jimmy. Please dont be afraid of them. I sent them something yesterday letting them know that I have filed charges with the Federal Trade Commission and that I have contacted the Attorney General in my state. I found out they were charged in the State of PA for running an illegal operation and that why they no longer do loans in the State of PA. Let them know that you wish to be contacted by mail or email ONLY and that you will not allow any of the threats. Yesterday I sent them this:

I have contacted the better business bureau and the Arizona Attorney General Office regarding your unfair acts. Also, if any further contact with me is needed it should be done by email at my e-mail address *****. Do Not contact anyone associated with me. I.e. job, friends, family if you do harassment charges will be filed. I have become aware that since such time as I have been affiliated with your company, I have paid disproportionate amounts of interest over the course of such affiliation. Upon research of Arizona State law, I have discovered that Nationwide Cash is not legally authorized to lend to residents in Arizona. Therefore, Nationwide cash is in violation of Arizona??????????????????s usury, interest rate cap, and licensing requirements, Wrongful credit practices and related offenses. 6-1260. Deferred presentment; amount; fees A. The licensee may accept for deferred presentment or deposit a check with a face amount of at least fifty dollars but not more than five hundred dollars, excluding the fees permitted in subsection F of this section. B. For each check the licensee accepts for deferred presentment or deposit, the licensee and the customer shall sign a written agreement that contains the name or trade name of the licensee, the transaction date, the amount of the check, the amount to be paid by the maker, a statement of the total amount of the fees charged, expressed both as a dollar amount and as an effective annual percentage rate, a disclosure statement that complies with state and federal truth in lending laws and a notice to the customer as prescribed in subsection C of this section. The written agreement shall expressly require the licensee to defer presentment or deposit of the check until a specified date. C. A licensee shall provide a notice in a prominent place on each written agreement that specifies that no customer may have outstanding more than one deferred presentment service agreement at one time and the face amount, exclusive of any fees, cannot be more than five hundred dollars. A licensee shall ask every customer who seeks deferred presentment services whether that customer has any outstanding checks payable to other licensees. D. A licensee may rely on the customer's representation of whether the customer has any outstanding checks for deferred presentment held by other licensees. E. The maker of a check has the right to redeem the check from the licensee before the agreed on date of presentment or deposit if the maker pays the licensee the amount of the check. F. A licensee shall not directly or indirectly charge any fee or other consideration for accepting a check for deferred presentment or deposit that is more than fifteen per cent of the face amount of the check for any initial transaction or any extension. G. A licensee may impose the fee prescribed in subsection F of this section only once for each written agreement. The fee is earned on execution of the written agreement and is not subject to any reimbursement even if the maker redeems the check pursuant to subsection E of this section. H. The fee charged by the licensee is not interest for purposes of any other law or rule of this state. I. A person may extend the presentment or deposit of a check not more than three consecutive times. For each extension the customer and the licensee shall terminate the previous agreement and sign a separate agreement. During an incomplete transaction the customer may not receive any additional monies from the licensee. The licensee may charge a fee as prescribed in subsection F of this section for each extension. If a customer has completed a deferred presentment transaction with the licensee, the customer may enter into a new agreement for deferred presentment services with the licensee. A transaction is completed when the customer's check is presented for payment, deposited or redeemed by the customer for cash. 13-2208. Usury; classification A. A person commits usury by knowingly engaging in or directly or indirectly providing financing for the business of making loans at a higher rate of interest or consideration than authorized by law. B. Usury is a class 6 felony. 6-613. Restrictions; voidable loans A. Except as the result of an accidental or bona fide error, if the licensee charges, contracts for or receives any amount in excess of the finance charges and other fees permitted by this chapter the following restrictions apply: 1. If the original principal amount of a consumer loan is five thousand dollars or less, that consumer loan is voidable and the licensee has no right to collect or receive any principal, finance charges or other fees in connection with that consumer loan. 2. If the original principal amount of a consumer loan is more than five thousand dollars, the licensee has no right to collect or receive any finance charges in connection with that consumer loan. 3. If the aggregate amount of advances borrowed on a consumer revolving loan or home equity revolving loan is five thousand dollars or less, that consumer revolving loan or home equity revolving loan is voidable and the licensee has no right to collect or receive any principal, finance charges or other fees in connection with that consumer revolving loan or home equity revolving loan. 4. If the aggregate amount of advances borrowed on a consumer revolving loan or home equity revolving loan is more than five thousand dollars, the licensee has no right to collect or receive any finance charges in connection with that consumer revolving loan or home equity revolving loan. B. Any consumer lender loan that is made by a person who is required to be licensed pursuant to this chapter but who is not licensed is void, and the person making that consumer lender loan has no right to collect, receive or retain any principal, finance charges or other fees in connection with that consumer lender loan. ARIZONA Ariz. Rev. Stat. ????????? 6-1251 et seq. (effective Sept. 1, 2000; sunsets on July 1, 2010). Applicability: This statute applies to transactions made pursuant to a written agreement in which a licensee accepts a check and agrees to hold it for a period of time before presentment for payment or deposit. Otherwise, the consumer loan act applies. Ariz. Rev. Stat. ????????? 6-601 et seq. (36% on loans up to $1,000; on loans greater than $1,000: 36% on the initial $500 and 24% on the excess). Exemptions: Banks, savings and loan associations, or financing/lending institutions authorized or licensed to transact business under the laws of the United States or Arizona. Any person that is principally engaged in the retail sale of goods or services and that from time to time cashes checks, drafts, or money orders for a fee or other consideration which does not exceed $2.00. Licensing requirements: Applicants must provide required information, including a financial statement and a credit report. An applicant must be a U.S. citizen, not have been convicted of a crime that involves moral turpitude, and not have defaulted on payment of money collected. Must have a minimum net worth in cash or cash equivalent of at least $50,000. Licenses are renewed annually. Certain reasons for revocation or suspension of licenses are listed, including violating this law. Required disclosures: Must conspicuously post a notice that states the fees charged at every location that is licensed. Must have a written agreement for each loan that contains the name of the licensee, the transaction date, the amount of the check, the amount to be paid by the consumer, a statement of the total amount of the fees charged, expressed as both a dollar amount and as an annual percentage rate and which also complies with state and federal truth in lending laws. The written agreement must also state prominently: ????????????????No customer may have outstanding more than one deferred presentment service agreement at one time and the face amount, exclusive of fees, cannot be more than $500.??????????????? Prohibited acts: Failing to pay annual renewal fees or file the annual financial statement; insolvency; violating the act; conviction of any crime which is a felony or other crime that is a breach of trust or dishonesty; making a material misstatement or omission on the application for a license; operating without a license for each location from which the business is conducted; making a loan without first obtaining reasonable evidence that the account on which the check is drawn is open and active; making loans or extensions of credit other than those allowed under this law; advertising in any way which contains false, misleading, or deceptive statements; engaging in unfair or fraudulent practices; altering or deleting the date on the check accepted by the licensee; accepting an undated check; failing to take measures to ensure that no customer has more than one deferred presentment loan outstanding at any time with any licensed lender in the state; requiring security for the loan other than the check or requiring a guarantee; providing gaming or lottery tickets, alcoholic beverages, or requiring the purchase of other goods and services in order to get a loan at any licensed location. A licensee may not use the criminal process to collect on a deferred presentment loan. Permitted charges: Not more than 15% of face amount of the check. This fee can be charged only once for each transaction. The fee is earned at the outset and need not be refunded if the consumer repays early. The fee is not interest for any purposes. Loan terms: Loan can be no greater than $500, excluding the permitted fees. Loan agreement must be in writing. The loan cannot be extended more than 3 consecutive times. For each extension, the licensee shall terminate the previous agreement and sign a separate agreement. The licensee may charged the permitted fee for each extension. Enforcement: Criminal penalties for making loans without a license is a misdemeanor. License can be revoked for violation of the law. In reference to my current loan with your company, I am formally requesting substantiation of all interest and principal payments made by me to your company on all loans ever received . Please also send me a copy of what is presently owed to your company at my home address above via U.S. Postal Service within the next 10 days. According to my records, I received a loan with a principal of $300.00 on August 29, 2006 and have paid total renewal finance charges in the amount of $60.00 but the previos loan for $300.00 I paid $975.00 The amount of interest you have charged me is well in excess of Arizona State mandated interest rate cap for short-term loans any loan or forbearance with an interest rate which exceeds 36% per annum shall not be a rate authorized or permitted by law. According to Arizona state law, the remedy for such usurious conduct is the refund of the principal amount on which such interest is charged, as well as all interest charged (excerpt above). Therefore, it appears that your company may actually owe me a refund with regards to this matter. In view of the information detailed above, I am willing to settle this matter with you and not seek such refund as I am entitled to by law. I expect Nationwide Cash, to immediately mark my account PAID IN FULL. Further, at no time will Nationwide Cash, its representative, parent company, subsidiary, or affiliate, place any derogatory mark on my credit report with any credit bureau, nor with any check writing database such as Teletrack or equivalent database. If you contact me at home or my place of work I will file harrasment charges against you. In the event you decide to effect one, I hereby revoke any wage assignment you may attempt to implement on this account. To reiterate, please accept this as formal revocation of any authorization for you to make any debits from this date forward. The checking account of record, ending in ****, will no longer honor any form of debit from you. I have filed a complaint against you with the Arizona Attorney Generals office and also with Federal Trade Commison, and econsumer.gov. Thank you,


And was emailed 5 minutes later by Lynn who was scared to death and telling me shes willing to work with me. She was much nicer and also told me they would only contact me via email.

Well scott decided to call one of my references to day and I sent this to them via chat:

Please wait for a site operator to respond.
You are now chatting with 'Joseph'
Please wait for a site operator to respond.
You are now chatting with 'Joseph'
Joseph: Hello. Welcome to NationwideCash.com. If I can be of any assistance to you, please do not hesitate to ask.
ME: My name is **********
ME: social *********
ME: and yesterday I requested that you guys only contact me via email
ME: or mail
ME: and Scott WIlliams called my friend
ME: with the following information
ME: Hey girl, Here????????s the info I meant to give you: 1-877-711-1199 x 525 Nationwide Finances c/o Florida Investigation Dept. I think the jerk????????s name was Mike; I didn????????t jot it down. Talk to you later
ME: saying that he was with the Florida Investigation Dept
ME: well I called the investigation dept
ME: here in alachua county
ME: and they have no record of this call that was made to my friend
ME: please tell him to stop calling me or my friends with the threatening phone calls
ME: I made arrangements with Jimmy yesterday and if I need anymore information I will call him
Joseph: Ok I will let him know.
ME: PLEASE BE ADVISED THAT I WILL BE PRINTING OUT THIS CONVERSATION AND KEEPING IT FOR MY RECORDS
ME: THANKS
Joseph: No to to yell by typing in caps I will relay your message.
Joseph: No need to yell
ME: Well when you have recieved threatening phone calls
ME: which are completely illegal
ME: you cannot call someone and make threats to them
Joseph: I understand that.
ME: I am having this completely researched
Joseph: Ok
ME: Scott will cause your company to be in tons of trouble if you guys dont control
ME: the things he says over the phone
ME: and also the information he sends on the faxes
ME: he cannot call himself an investigator when hes not
ME: Alachua county said they have no one by the name os scott williams working for them
ME: and they also asked for the companies name
ME: and address
ME: and telephone #
Joseph: Did scott do that today
ME: my friend called me a few minutes ago
ME: really upset
ME: and the extension number he gave
ME: is the same one thats on the fax he sent to my job
ME: saying hes going to sue the company I work for
ME: it only made my boss laugh
ME: because we work in credit and collections
ME: and we know that there are certain that you dont do or say
Joseph: I let his manager know and he will be talked to.
ME: thank you
ME: tell Jimmy I will stick with my arrangement to make my payment on 10/6/06
ME: have a great day
Joseph: you to
Chat session has been terminated by the site operator.



Also make sure you contact them via chat so that you can keep a cop of the records. They only have threats. Most states have BANNED payday loans.

So just make sure you stand firm with them and let them know that they cant threaten you or harrass you or your references.

Sorry this was so long but I know how they can call and try to scare you into paying them and believe me thats all their doing.

I will contact my PDL's to see if they will work with me. What should I say to the Online PDL's? Aand does anyone else no of any consolidation companies who can help with PDL's. I just heard back from one and they said that no company will work with PDL's and if anyone tells you they will then they are lying???

What should I say to the online PDL's? I closed my checking account that was connected to them. I don't want to start getting harrassed! Any suggestions? The two online PDLS are with United and CashNet and I live in Colorado! I would appreciate the advice. Also, does anyone know the name of companies that handle PDLS???

Marieslade -

I had several online PDLs. Take the advice of the folks here. U have taken the first step by closing your account and opening a new one.

There are letters available that u can fax send to them. I've done that as well as sent copies via certified mail.

Interestingly enough, out of the 6 letters I sent, I got replies on only 3 (I think).

CashNet500 (is that the one u have?) keeps e-mailing me saying for some reason they can't access my account. I've replied to them over and over the reason for this.

I *finally* sent a reply with the Word document attached. No reply yet.

I just got an e-mail from United Cash Loans (is that the one u have?) that there's never a reason to close an account. Of course, they received the same letters the others did.

I'll be sending them an e-mail with the Word document attached.

Hang in there. They'll settle with u.

Rick

Where are the letters that you can send to the online PDL's? Thanks for all of the help.

Here is the link to the template letter, make sure you insert your info and your state's pdl laws.
http://pollyandsay.yesdebtfree.org/template-letter/

Where can I find the PDL law information for Colorado? Thanks for all of the information!

My two online PDL's are United and Cash Net. With United my loan was for $300 and I have paid over $300 in interest, about $360.00, so do I tell them this in my letter and tell them to make my account paid in full? My other one with Cash Net was for $500 and I have paid about $300 in interest towards this loans.

Does anyone have the address for United Cash Loans?

Try this link: http://www.debtconsolidationcare.com/forums/about9007-2.html

If you ever need an address for an internet payday lender, always search the forums. I believe there is a list going in one of the forums. You can always try the BBB website as well. I found a lot that way when I was settling with my lenders. Good luck!

So I have started making payment arrangements, most people have been good about it. CashNetUsa tried calling me today, but I have been at work and since they were unable to get ahold of me they called my references. I sent them an email eplaining everything and told them to not contact my references or I would report them for harassment. And I also sent an email to United Cash Loans, so that is where I am at. This website has been very helpful. I don't feel as overwhelmed anymore. I will feel alot better when arranagements have been made with all of my PDL companies. Is there anything else I should be doing with the online companies? I don't want to be harassed by them. Thanks!

HELP!!! I need contact information for this company. They will not stop taking money from my checking account.

does anyone know how i can get the phone number to 500 fastcash please. i just got a call from them demanding money today. please help...ty

Guest you will need to revoke your authorization to debit your account with them, also have your bank stop allowing them to debit your account, or you may need to close that account and open a new one in order to take charge again.

500 FastCash
515G South East P.O. Box 111
Miamai, OK 73455

thank you for that but i need their phone number. asap!!!

(888)919-6669

Payday Loan Laws - TN
The rules and regulations issuers of payday loans must abide by in the state of Tennessee.
Legal Status:
Legal

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)

Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited
NOW THEN...COULD SOMEONE MAKE SENSE OUT OF THIS AND EXPLAIN IT BACK TO ME..BECASUE I NOW HAVE ONE THAT IT GOING TO GET A WARRANT FOR ME TOMORROW OVER DEFAULTING ON A LOAN!!!URGENT PLEASE HELP..TY

You can only borrow up to $500
Can only be for 31 days/means no roll overs
maximum fee is $17.65 per $100 borrowed
Only $30 NSF Fee, but can sue (if licensed in your state)
Criminal action: THAT PDL COMPANY IS LYING TO YOU, YOUR STATE DOES NOT ALLOW PEOPLE TO BE ARRESTED FOR DEFAULTING ON A PDL LOAN! THEY ARE TRING TO SCARE YOU! CALL THEM ON THE LIE.We have all been threatened with that by these internet pdls, it is a lie, it's called extortion.

how are you so sure that they cannot arrest you for defaulting on a loan please? oh, and i found my documents they emailed to me and the loan was for $100.00 + $30.00 and she said i owed them $560.00 so what do i do there? please and thank you again

Marieslade -

Here's a link (on this site actually) that will get you started (this is where I started):

http://www.debtconsolidationcare.com/forums/about9140.html

Rick