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Pay day loans

Date: Fri, 10/06/2006 - 21:27

Submitted by anonymous
on Fri, 10/06/2006 - 21:27

Posts: 202330 Credits: [Donate]

Total Replies: 8


I have about 6 pay day loans. I keep having to get another one to avoid over draft fees. I just got 2 last month. All over the internet and I live in NC. 4 of them I have had since June and the fees are like $89 each.. they are killing me. I want to close my account but I just got 2 new ones and I have not paid on them yet and I am afraid they may try to garnish my wages...what should i do?


Hi Sweet,
First off, welcome! And second, it's important to determine whether yours are storefront (you had to go into a building to get them) or internet, because it makes a difference as to how easily you will be able to work something out.
You are definately in the right place and are most definately not alone in this. Please keep posting!


lrhall41

Submitted by kscornell on Fri, 10/06/2006 - 23:17

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First, pdls of anytype are illegal in NC. If these are internet then go ahead and close your account or block these pdls from debiting your account, you'll have to talk with your bank to do this. You also need to file a complaint with your state AG's office. How much have you paid on each one and what are the pdls names?


lrhall41

Submitted by WHEREAMI? on Sat, 10/07/2006 - 02:58

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I definately agree to close your account. You will still need to pay back what you borrowed, however--It's only right. Once your account is closed, you will have control of your finances again, and you can make arrangements with the PDLs. Which companies are your loans from??


lrhall41

Submitted by Jessi on Sat, 10/07/2006 - 04:39

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I third the suggestion of closing your account. Also, since these are unlicensed, they CANNOT garnish your wages. They can, however, use a wage assignment, but honestly, most places don't, and it's too early to do anything about that anyway.

I had 6 pdls last winter that I defaulted on..Since April I have been completely free. My process was very simple..when I defaulted, I sent each of them a letter explaining I hit some financial difficultie, but didn't intend to hide from my debt. I suggested a payment plan, and sent a small good faith payment. I made sure I kept in regular contact with them..And they worked with me. Things happen, and if you're honest with these companies, chances are they'll work with you. They may bluster and threaten, but usually they'll deal in the end.


lrhall41

Submitted by finsfan13 on Sat, 10/07/2006 - 07:30

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All are from the internet. On the ones I had before June 20th I have already paid $600 or more on loans for $200 - then I got one from cashnet500 that was for 350 I have already paid at least $840 but probably more than that. the two I just got were from mylittleloanshop of $150 and the other one was First national I think for 200 these last 2 I have not had long but I do have their information. I will go ahead and close my account and contact them to set up a payment arrangement. How do I file a complaint with?


lrhall41

Submitted by on Mon, 10/09/2006 - 16:24

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Since you are in NC, and they are illegal, I would use the template letter on this site and insert NC pdl laws and demand that the ones you have paid $600 on $200 loan be marked paid in full. Same goes for the $350 one that you have already paid $840. The others you legally owe the principal that you borrowed so I would write them a letter setting up a payment plan that is within your budget to pay those ones off, and do like finsfan said, send a good faith payment.


lrhall41

Submitted by WHEREAMI? on Mon, 10/09/2006 - 16:42

( Posts: 5263 | Credits: )