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Too Many Payday loans

Date: Fri, 11/10/2006 - 15:17

Submitted by codysmom
on Fri, 11/10/2006 - 15:17

Posts: 4 Credits: [Donate]

Total Replies: 36


This is my first forum, I too have way to many Payday loans. I have read some of the threads and have a question. For the internet loans need to abide by Wyoming laws for autorefinance or the state that the company is from?


Here is the link to your state's pdl laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=WY
The internet pdls have to follow the consumer's state laws. They will tell you that the contract signed by you states you have to follow the lender's state laws. They are incorrect. Which companies are you dealing with and for how long?


lrhall41

Submitted by WHEREAMI? on Fri, 11/10/2006 - 15:21

( Posts: 5263 | Credits: )


General rule applies that a loan company has to be licensed in the borrowers' state and follow their state laws. However, there are a few states like PA, RI in which the lender needs to be licensed in their state only.

For information in Wyoming, call your state regulator

Wyoming Division of Banking
Address: Uniform Consumer Credit Code, 122 West 25th Street Cheyenne, WY 82002
Phone: (307) 777-7797
Fax: (307) 777-3555

http://audit.state.wy.us/banking/


lrhall41

Submitted by weeswie on Fri, 11/10/2006 - 15:25

( Posts: 382 | Credits: )


Start drafting them settlement letters, here is the link to Polly's pdl settlement letter. I don't know how much you have borrowed or how long you have been paying on them, but I noticed WY doesn't allow roll-overs. If you haven't paid back the principal yet, deduct the amount of roll overs from the principal and add the allowable interest your state allows, and demand they settle the account for that amount. You should e-mail, fax, and usps these letters, and if you have to do it multiple times a day, then do that. Some members here have e-mailed and faxed their letters multiple times a day until they settled. Don't be intimidated by their false threats of arrest and fraud charges. Here's the link to the letter: http://pollyandsay.yesdebtfree.org/template-letter/
Also you need to file a complaint with your AGs office along with the Division of banking. The link I posted above will give you the contact info. for that dept.


lrhall41

Submitted by WHEREAMI? on Fri, 11/10/2006 - 15:29

( Posts: 5263 | Credits: )


I recommend that you contact each of these companies and explain your situation and how you want to pay the loan in full.

I would also recommend that you either close your checking account or request that the bank place a stop payment on your account to prohibit these companies from taking any interest and payments from your account. I used a statement of unauthorized debit which is no fee and places stop payments on your account.


lrhall41

Submitted by Alexandra on Fri, 11/10/2006 - 16:13

( Posts: 544 | Credits: )


I have had a loan with MYCASHNOW and they have always been easy to work with. they do extend but the interst does also go down with each payment. they also put money to the princable after 3 weeks.. still sucks but they have helped me and been very nice about working things out. they charged me extension fees and i am contesting those because i am in CA and that is illegal BUT. they did work and were nice.. and one more thing they NEVER took money on the wrong day and on the web site you can look at all the loans and what you have paid.
I am not saying they too are not crooks but.. they are nice crooks.. :D


lrhall41

Submitted by Poptarts.mom on Sat, 11/11/2006 - 14:45

( Posts: 407 | Credits: )


I have five pay day loans I am trying to pay. Payday avenue says they do not make payment arrangements. What can I do to get out of debt with these payday loan people. I can't afford to keep paying them all this money every pay period.


lrhall41

Submitted by on Tue, 11/14/2006 - 21:36

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hello,
i have some payday loans that is saying they are going to take me to court and this will show up on my record. i had a company taking fumds from my account and they were not supposed to. that but way behind in my bills. i went a few weeks with no pay because i had direct deposit and the bank was taking there money. the bank called the company and i reported them to the better business buearu, and they are still taking there time with giving me my money. during this process, the bank closed my account trying to help me out, and the payday loans were being drafted from my account, now they don't have access to the account because there is no account. i found out that in my state payday loans are illegal and they closed down the payday cash advance places where i am, elizabeth city, nc. is there anything that i can do. they are saying that i owe over 1500 dollars and i didn't borrow no where near that amount. on top of it i don't remember receiving anything from them. then today at work i get a phone call asking me if i had a lawyer. im not trying to get into any kind of trouble. im not the type of person that doesn't want to pay there bills. is there something that i can do?
shanell


lrhall41

Submitted by shanellg on Wed, 11/15/2006 - 18:49

( Posts: 13 | Credits: )


You are only obligated to payback the principal ONLY. File your complaints with the NC AGs office. That employee is making ILLEGAL threats towards you in an attempt to collect a debt, tell him you are going to file charges against him for extortion, because that is what crime he is committing and it is a felony. Don't let their threats scare you, they are an illegal pdl company conducting business with a NC consumer without a license and in a state where they are illegal. Tell him to take you to court, because when he shows up he will be arrested. Don't pay them another dime. Stand your ground with them and get your complaints in. And don't let them trick you into thinking that because their meaningless piece of paper says they follow their laws that that is the fact, because it isn't. The lender MUST follow the consumer's state laws. Don't pay him another dime.


lrhall41

Submitted by WHEREAMI? on Wed, 11/15/2006 - 18:54

( Posts: 5263 | Credits: )


thanks. i will file the complaint with nc. they say that this is supposed to take place friday. im scared that they will come and get me from my job


lrhall41

Submitted by shanellg on Wed, 11/15/2006 - 19:02

( Posts: 13 | Credits: )


you told me to contact nc ags? what is that and how to find them. i typed north carolina ags on the web and came up with nothing,
shanell


lrhall41

Submitted by shanellg on Wed, 11/15/2006 - 19:05

( Posts: 13 | Credits: )


That is what they want you to believe. That is EXTORTION, making threats or false threats in an attempt to take money from a person. Don't worry, make sure you put in your complaint this threat you were given. Plenty of people here were given the same threat and that is all it is he would have a hard time pressing charges when he is with a company who is unlicensed.


lrhall41

Submitted by WHEREAMI? on Wed, 11/15/2006 - 19:05

( Posts: 5263 | Credits: )


how do i get in contact with the NC AGs office? the people that called me, i guess is a collection agency. the lady that called me gave me here phone number and extention. this is one reason why im thinking they could do something to me.


lrhall41

Submitted by shanellg on Wed, 11/15/2006 - 19:17

( Posts: 13 | Credits: )


ok thanks. what is the principal? i know that i have been paying what they call refinacing fees


lrhall41

Submitted by shanellg on Wed, 11/15/2006 - 19:31

( Posts: 13 | Credits: )


How much was the loan for? That would be your principal, if you borrowed $300 then the principal would be $300 and not a penny more since they are illegal. However much you have paid in "refinancing" fees then deduct that from the principal and that is what you owe, if you have paid more than the principal in "refinancing" fees then demand they mark you paid in full and request a refund for the difference in overpayment.


lrhall41

Submitted by WHEREAMI? on Wed, 11/15/2006 - 19:36

( Posts: 5263 | Credits: )


Here's the link to your state's pdl laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=WY
And they will tell you that they are internet and don't have to follow your laws. They are uneducated and full of crap, I have said before they are underpaid/undereducated CRs. Stand your ground and also file complaints with AG against them.


lrhall41

Submitted by WHEREAMI? on Wed, 11/15/2006 - 19:45

( Posts: 5263 | Credits: )


they contacted me and told me that they will persue me and i want to knpw what to do


lrhall41

Submitted by on Thu, 11/16/2006 - 06:26

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hello,
yes the company that says that im going to be persued is bass and associates. these are the people that keep calling me and said that i have to pay everything and that i have to come up with 490 by tomorrow. what can i do. i have the girls name and number that keeps calling. what do i do


lrhall41

Submitted by on Thu, 11/16/2006 - 07:04

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im looking for steelers1. i was comunicating with you last night about the payday loan. are you around?


lrhall41

Submitted by on Thu, 11/16/2006 - 07:31

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You need to contact FL AGs office to file a complaint and give them the lady's name and number. I'm certain it is an alias. But that's ok, she's working for that crooked company. Don't pay them a dime, and if they call you tell them you are in contact with the FL AGs office and filing a complaint with them and your own state's AG office. Don't fall for the illegal threats.


lrhall41

Submitted by WHEREAMI? on Thu, 11/16/2006 - 07:38

( Posts: 5263 | Credits: )