I have 5 payday loans and I defaulted on on them

Stac - that is standard operating procedure from some collection agency. They will use threats and intimidation to get you to send in money.

Have you contacted the PDL companies that you owe money? See if you can work out something with them directly. There are many that have fallen into the PDL trap on this board. I hope one comes here to speak with you.

If you has signed up for consultation, I am sure someone will call you soon. Until then, search around and educate yourself.

Stac, follow this link

http://www.debtconsolidationcare.com/settlement/about15343.html

Stac,
to answer your question..No they absolutely cannot have you arrested. I promise you that.

I was in a similar situation to yours last winter. What I did was set my own terms. I sent letters to all of my 6 loan companies..regardless of whether I'd gotten nasty phone calls from them or not..And proposed a payment plan that I thought seemed fair. Along with the letter I sent a small "good faith" payment, $25. I also included a cease and desist letter. I made sure I emailed them regularly and sent the payments I promised. It worked for me..

That method won't work for everyone, though, consolidation may be a better option, I don't know how large your loans are. Mine were all under $300. A counselor will be calling you soon. Like Jedi said..Browse the forums while you're waiting, there's a lot to learn here.

Please let us know how it goes for you.

thanks for the replies. I'm slowly getting them taken care of

I need some help, I got into trouble with my checking account and had to close my account; then I got e-mails from the payday loans stating that my loan had come back as defaulted; I have two that were able to get me on a fair payment plan; there is one that I am working with right now, there were two that slipped in to Bass and Associates that I ended up sending $525.00 more than what those two loans were worth one was from Premier processing for $195.00 no number to call or anything the other was for M1Y direct for $325.00 I called them to let them know what was going the day it before it was going to happen and I lost there number and they never called me back; so thos went to Bass and Associates and I got threatening phone calls from them and ended up sending the $525.00 to them which I hope those two payday loans even recieved because I have recieved no documentation because occurding to them I still owe $345.00 more to them and I told them no because they were not what I had been hearing about them and there wrongfull collection tactics and I had no documentation sent to me! So I hope I had made the right decision because I have not heard from them they threatened to send my info to Franklin County! now with the others I am just trying to get paid off and I hope I can! Good luck to everyone and I do not recommend these to anyone!!

Franklin County, OH? If so I LOVE IT!!!! Tell them to go straight to HE**! Franklin County won't do a damn thing. In OH you can not be prosecuted for a defaulted pdl loan, it is an unsecured debt they need to file civil suit and they aren't going to do that because they aren't licensed in OH! I promise you that one and the fact you aren't going to be sent to the Franlin County Prosecutor's Office. I promise, and I feel comfortable sayin that I PROMISE! What a joke they are. I am just sooooo sorry you lost all that money to those illegal collectors who are under investigation, tell them to bring it on!