Hellllppppp!!!!! Too many payday loans. What do i do.?????

Here's the link to your state's pdl laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=RI
It appears your state allows only one roll over. Are these internet or storefronts. If you have storefronts, they are licensed and can take you to civil court and get judgement. Internet pdls are a different story. They are usually not licensed which gives you room to deal. How many times have you rolled over these loans. It may be that you have already paid back the prinicpal and legal interest rate and can demand a payment in full. You also need to file a complaint with your attorney general's office, very important to do this. You will also need to either block these companies from debiting your account any further or close the account and open a new one. Most of us here have eneded up having to close and open a new one to regain control of our finances. Don't be scared, they threaten they will lock you up in jail or press fraud charges against you, they can't and they won't this is an illegal threat used to scare more money out of you.

Don't be scared, we are all here for the similar reasons or at least for DEBT!!!!!! Just take a few minutes to look at some of the posts and see what you can do to help matters with your PDL...

In re to beautiful rose..i have one store front payday and cashnet payday that says i owe them 900.00 and i have 2 loans 1 for 600.00 and one for 300.00. I do not remember the extra 600.00???????

If these are storefronts you will need to work out a payment arrangement with them, they are licensed and can take you to court and get a civil judgement against you. Be honest on what you can reasonable afford to make in payments. You are saying that you don't remember taking out the $600 pdl? I would have that looked into, I have heard on here where some pdl storefront clerks have stolen money from consumers by using their acct. info. I just recently read article where this happened in OH and a storefront clerk would use the customers banking acct. info. and take out pdls in their names. Double check that to make sure it is yours.

just wanted to let you kown i went to the bank explaned what happed. they actomacitly closed the account,i am getting paper ckecks and the manager of the bank said he was going to help me. i am getting so may phone calls i cannot stand it. i will probalby change my phone #. thank you all for all the info and being so kind. very greatfull in ri.

Also when you open your new acct, be sure that they can't debit using your social. My bank allowed this, so I had to completely change banks. Good luck.

Ashoes - keep in mind when you open a new bank account, do not let anyone have the info, no matter how much they threaten you. These companies are pretty ruthless and heartless, and will threaten you with bank fraud charges, being arrested, etc. Storefront PDL's are the only ones who have a leg to stand on, unless you have found the *rare* internet PDL that is licensed in your state.

Here are some steps for you:

-close your bank account (looks like you've done this)
-open another bank account at a different bank, if possible, or a credit union.
-make sure you get everything paid off at your old bank, so you don't get reported to any collection agencies on that.
-check your state laws regarding PDL's. Make note of whether they are legal, what the interest rate cap is, and whether they have to allow payment arrangements, and if so, for how long.
-make payment arrangements with any storefront PDL's you have. Most of them are very willing to work with you if you explain your situation.
-make a list of all your internet PDL's, and how much you've paid them so far. Then go back to your state's governmental website and see if they are listed as being licensed in your state. Most will not be. This gives you leverage. If you have overpaid the principal on the loan, write a letter to them, demanding the loan be marked paid in full. Make them aware that you know they are breaking your state's laws, and that you intend to file a complaint with your state's Attorney General. There is a letter on Pollyandsays' blog on this site that is a perfect template.


That's a good starting point for you - but keep records of everything you do, and make notes of every phone call, in case you do end up filing a complaint with your AG - all of this info will come in handy.

Keep posting, keep us informed of your progress, and good luck!