Payday loans in NC???

They are illegal in NC..And no, they can't take you to jail, don't worry about that! What companies do you have loans with?

The only one that I have now is with Little Loan Shoppe...

Payday loan is illegal in NC. You may find that Little Loan Shoppe is not listed with your Dept of Financial Institutions. Report them that the loan company is doing business illegally in your state. Inform the pdl about your reporting to the state regulator. They will be willing to work with you. NC does not have any legal charges on the pdl, so you are responsible to pay the principal amount only. How much have you paid them so far?

Here is the contact info of your state attorney general

North Carolina Attorney General
Address: NC Attorney General's Office 9001 Mail Service Center Raleigh, NC 27699-9001
Phone: (919) 716-6400
http://www.ncdoj.com/default.jsp

File your complaints immediately because it is illegal to lend borrowers in a state which prohibits payday loans. The company has broken the laws and they are trying to charge you excessively. If they have your checking account info, monitor it closely so that you are aware of their debits. If they are draining your account in the negative, it is the time to close it and open a new one.

I have already closed the acct., and opened a new one. They said that I need to pay them $125 in 2 pmts of $62.50. I have only paid $25.00 (renewal) and they say that I need to pay them $125.00 more to be PIF. The initial loan was for $100.00.

No, do NOT pay these people $125, since they are illegal in NC, you only owe them $75 (the balance of the principal) Report them to your AG and let them know you have filed a formal complaint, and DO NOT budge on paying back $75. And don't listen to their baseless, illegal threats. You will not get charged with fraud (they are comitting fraud pretending they can lend in your state), and they CAN NOT have you arrested.

Ok...so all I HAVE to pay is $75 more. Is there anything that I should enclose with the M.O., since that is how I am paying??

Should I email them a sort of template letter?? I had to email one to CASHTODAY and I haven't heard back since.

This is the link to your state's laws:http://www.paydayloaninfo.org/state_detail.cfm?id=NC
You will insert that in the settlement letter with your m.o. and also let them know you have filed a formal complaint with the AGs office. Here is the link to Polly's pdl settlement letter:

Here's the settlement letter http://pollyandsay.yesdebtfree.org/template-letter/ link:

[color=red]Error in the Link fixed - Mike[/color]

The link didn't show up...Is it the same one that I sent to the other PDL company??

I forgot to paste it, it should be before your last post. Do you see it?

Yes, and what in the amount paid principal should I put $100??

It is showing some sort of error and will not open the page??

You borrowed $100 and have paid $25 to date, since they are illegal in NC, you only owe $75 on the principal. And add that you are enclosing $75 as final payment on the principal and demand that they mark your account paid in full. On the money order, write near the memo section, "Acct # ****** is now paid in full" By cashing it with that in the memo, that is a contract and the account will be considered paid in full, and you should make a copy of the m.o. before you mail it out, also make a copy of the letter for your records.

Ok...got it. But about the principal question?? Thanks...

You have paid $25 in principal to date on a $100. You would put that to date you have paid $25 on a loan for $100 leaving the principal balance of $75. I am enclosing a money order in the amount of $75 to bring the total balance owed $0.

Yea, it was. But I got it now. Thanks...Also what should I put in the principal paid line?? $100.00??

You have only paid $25 to date on the principal. So I would put $25 and add that you are sending them a $75 m.o. and now the account is considered paid in full.

Sorry, I am new at this and I didn't realize you had answered my ?? about 4 times. I didn't see the page 2..Thanks for all of your help...

You're welcome, not a problem. :D