i took out all these loans
Date: Wed, 10/04/2006 - 04:59
welcome to the forums! A lot of us here know a lot about pay
welcome to the forums!
A lot of us here know a lot about payday loan messes! Since you've registered, a counselor will be calling you. There are some places that consolidate payday loans, ask the counselor about them.
You can also take care of them yourself, also. It's hard work, but very rewarding when they are gone. We can help you here, but can you tell us a few things about your situation? What state are you in, are they internet or storefront, and what companies are you dealing with?
Hi Fredde.... What companies are you dealing with? Not o
Hi Fredde....
What companies are you dealing with?
Not only are Payday loans illegal in Masachusetts,
they can't even advertise there.
You should contact the lenders advising as such. Chances are you have already paid more interest than is allowed by Massachusetts state law.
As long as you paid back what they loaned to you,I
would tell them the gravey train has come to a stop!
In addition,if they were to prosecute you they would
have to go to Massachusetts to do so. How can they
do that if they are illegal in that state to begin
with.
If they start harrassing you,which they might,make sure you document everything.
thanks, but.......
hey road warrior. thanks but to even get the laons, i had to give them my bank information, and job information, and address. etc. some of the loan companies are: route 66 funding, webpayday, fastcahs..etc(11 total i have). the thing is my income is not enough to cover the fee nevermind the principle loan. i dont know what to do. my account goes negative all the time. should i call the bank to stop payment on all eleven revolving debits? should i tlk to a debt consolidator? nO IDEA! wil the bank even allow me to do that? i cant close my account. bcuz its so negative. i even tried to tell all 11 to take out the whole amounts and they did at first. i dont mind paying th bank back but as long as i stopped the reccurring fees. but then the put it all back, the chragred the fees becuase of the suffucuent funds. suggestions? anyone?
I would put a stop payment on these companies with your bank, yo
I would put a stop payment on these companies with your bank, you will also need to notify these companies in writing that you are revoking your authorization to debit your account, then they will have to stop. You may need to go to another bank to open a new account before it is too late. It may be the only way to take back control of your finances to deal with these companies. Find out your state laws regarding pdls. I think they are illegal in MA. Then use the template letters on this site inserting your state laws. If you have paid well over the legal interest/fees which also goes over the amount of the loan, then demand your accounts be marked in full. If not, you need to at the very least pay back what you borrowed after you deduct the illegal interest rates from the principal amount borrowed. Sign up as a member on this forum and somebody will contact you to discuss your options regarding debt consolidation.
i alreddy have signed up
i may have to do that. and i have payed well over the principle amount with these fees. for example a loan was for $200. with a $79 fee. its been recurring every 2 weeks since july. and thats only one of them.
i do have an account, but how do i long and respond?