how to get out of payday loans

how can i change my name back to yippee

You have to PM Mike (the Admin). He can change your username back.

ok, I was a bit confused with another nc member. You do still owe the princiole on these loans. You will need to make arrangements with them to pay off the balances. But first take care of your account

Need to get our of them fast. I live in South Carolina adn they are from the internet.

please list for us 'who the lenders are
how much borrowed from each
how much in total paid to each. I will post the laws for your state.

You will find the Payday loan laws South Carolina here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I'm confused. I'm trying to break the cycle & find myself just getting deeper & deeper. What steps do I need to take to make arrangments with these companies? Thanks!!

It's important that we have more information before advising you WhatdidIdo. If you could start your own topic and list the following information someone will be most happy to help you.
Name of pdl's
Internet or store front
Amount borrowed
Amount paid back
State you reside in.
Thanks!

they can not sue you for a illegal loan. they will lose the battle here in nc. the only thing some of them will do is bug the living h_____ out of you.

I recently fell into the trap of payday loans. I currently have 4 and owe a total of 1600.00 I am unable to currently pay it back and MY pay now at work is alot less than it was when I applied for them. they are practically taking my whole check. I live in IL. I can pay them back just not all up front and i can't keep affording them to debit it from my checking account EVERY payday. Please help I did do all of them over the internet.

Hi melissann,

I will post the law's for IL. If you can please tell us:
name of company
internet or storefront
amount borrowed
amount paid including fee's

we should be able to give you some more advice...

Here are the Payday loan laws for Illinois (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

well like i said there is four...i'm so embarrassed!

UPFRONT MONEY- i've paid so far 670.00 in refinancing the total for this loan I barrowed is 350.00, i've just paid the "refinance fee"
KENWOOD SERVICES- I've paid 300 in refinancing I just borrowed 250.00 again I've just been paying the "refinance fee"

CASH SUPPLY-I've paid so far 750.00 by refinancing I only barrowed 500.00

SANDPOINT CAPITAL- I've paid 375 by refinancing and i only owe 300 i believe


Please help me...i am behind on all my bills when i started getting these loans i was around 2200 a month now i'm down to 1500 month income due to the economy. I don't know what to do.

Don't be embarassed, I know what your going through. I had over 11 when I started and as of December I was PDL free...I will check on the companies for you and post some other helpful info:

I checked the IL license database and non of your companies came up, I am also giving you a letter you can send to the companies. You need to tailor it for IL and you will need to figure out what you have paid them over the loan amount, this is the amount the company technically owe's you. you can ask for a refund when you send the letter, but you may not get one:

hello? Help please i'm so stressed!

thank you so much but i'm confused. please help. thank you!


you mean i don't have to pay anymore? I'm lost.

how long should i give them to respond as well as where do i go from here...does this mean i don't have to pay them anymore? What happens now? I send them out by mail or e-mail or fax? please let me know. Thank you

can i send you the letter when i'm done to have you check it please ?

please respond!!! are they legal or Prohibited i'm lost with this letter.

hello melissaann,first that letter is what dawn sent for her pdl's.you can find the exact template right hand side.the section titled ALSO SEE.there is a template for you.i can say being in illinois as well you owe nothing more on these pdl's.they are not licensed,therefore are illegal in our state.

paulmergel, you don't pluralize with an apostrophe, why are you so dumb? Did you not graduate elementary school?

So your from IL also? I'm not seeing where that form is? Please help also will they call my references as well as work? also do i mail them this letter or fax?

there are no letters under ALSO SEE for payday loans..unless i'm totally missing it. please help

anyone please help!

is anyone out there that can help me I'm so confused. Please please please help.

Melissa you can customize the letter I sent you, you need to insert the IL laws in place of CT and update the other info. I will see if I can find a blank template for you.

Please don't stress out anymore about this...take care of your account first, then send the letters to the pdl's and report them to the BBB, FTC and the attorney general. Within a few day's you will start to hear from the companies. They will try to tell you that their law's trump your's, but that isn't the case. Your state law prevails

Here is a link to another letter you can use:
http://pollyandsay.yesdebtfree.org/template-letter/

Alright thanks guys I did the letter could someone please just check it?
To Whom It May Concern:


After doing research on internet payday loan laws in the state of Illinois, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the state of Illinois??? in general:

Legal Status: Legal

Citation: 815 Ill. Comp. Stat. Ann. ?? 122/1-1

Loan Terms:
Maximum Loan Amount: lesser of $1000 or 25% gross monthly income
Loan Term: 13-45 days
Maximum Finance Rate and Fees: $15.50 per $100
Finance Charge for 14-day $100 loan: $15.50
apr for 14-day $100 loan: 403%

I have contacted the Illinois??? Office of Financial Institutions and the Illinois??? State Attorney General's Office regarding your internet payday loans and was informed they are indeed illegal in Illinois??? and was advised to pay what is due according to principle amount only of the loan.

To date, I have paid $750.00 DOLLARS on my $500.00 DOLLAR loan. The legal amount that could have been charged to my loan is the principal amount of $500.00 DOLLARS even if your internet pay day loan was legal in Illinois???. I have paid $750.00 DOLLARS on this loan by your debits of my bank account. Please mark this account as PAID IN FULL.


I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my state Attorney General's Office.

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of Illinois???.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.

I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, and my state Attorney General's Office.

I expect a response from your company no later than 2/31/2009, regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Thank you,

or should my legal status be ILLEGAL? Also will they call my work and try to garnish wages? also how long should i give them to respond as well as how should i send this? mail, e-mail?

Also please do not think i'm dumb I just didn't know I had another choice but loose my vehicle and everything else because of them. But can they take me to court?

these places can't do anything to you because they are illegal.garnishments take a court order.they would have to sue in your county.being unlicensed that isn't going to happen.either is them taking your car.they can't do anything but threaten.send the letters.file AG complaints against them.most of all relax.if they try anything let us know.wecan and will help you here.

Thank you all for all your help. How did you check to see if they are legal or not? or have a license? I'm just so nervous about all of this...Did you get caught up with the same thing?

i just looked at our DFI site for a license#.oh yeah i got caught in the trap as well.over paid just like you.this forum gave me the support and knowledge to take these places on.i do the same thing.we all have been there my friend.you should register.it's free and you can communicate via PM'S and e-mail.

awesome! Thank you how do i sign up? Also did you do the same procedures? what happened with you? i'm just scared they are going to call my work and harass me. my pork has a no tolerance for phone calls and i don't want to get fired. any suggestions?

go to the home page.next to the login there is a signup icon click it.ifiled AG complaints immediately.some did call work,but i explained the situation and they said i quit.a lie,but it got the calls to stop.the main thing is get those complaints out.ms madigan our AG takes our rights seriously and will fight for you.

Thank you so much for all your help will you look over my letter to make sure it looks okay? the loan is for 500 and right now i have paid 750. Thanks!

To Whom It May Concern:


After doing research on internet payday loan laws in the state of Illinois, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the state of Illinois??? in general:

Legal Status: Legal

Citation: 815 Ill. Comp. Stat. Ann. ?? 122/1-1

Loan Terms:
Maximum Loan Amount: lesser of $1000 or 25% gross monthly income
Loan Term: 13-45 days
Maximum Finance Rate and Fees: $15.50 per $100
Finance Charge for 14-day $100 loan: $15.50
apr for 14-day $100 loan: 403%

I have contacted the Illinois??? Office of Financial Institutions and the Illinois??? State Attorney General's Office regarding your internet payday loans and was informed they are indeed illegal in Illinois??? and was advised to pay what is due according to principle amount only of the loan.

To date, I have paid $750.00 DOLLARS on my $500.00 DOLLAR loan. The legal amount that could have been charged to my loan is the principal amount of $500.00 DOLLARS even if your internet pay day loan was legal in Illinois???. I have paid $750.00 DOLLARS on this loan by your debits of my bank account. Please mark this account as PAID IN FULL.


I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my state Attorney General's Office.

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of Illinois???.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.

I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, and my state Attorney General's Office.

I expect a response from your company no later than 2/31/2009, regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Thank you,

ALso should i mail those to the payday loan places or e-mail or fax?

i would mail them.send them certified mail return receipt.that way they have to sign for it and once they receive it they will know where you stand.also you can keep a copy for yourself too.that is how i did it.by the way welcome as a member.if you need anything just PM me or dawnlango.we can and will help you get these places out of your life.

does the letter look okay though?

looks outstanding my friend.it should send the message perfectly.

alrighty great!! where it says LEGAL STATUS is it suppose to be legal or illegal?

No. Payday loans are legal in your state but the one you have is illegal because they are not licensed in the state of IL.

You can email the letter, send it certified USPS, fax it or send it in all three ways. I only emailed mine.

They can not garnish anything unless they take you to a civil court which they won't do because they are illegal.

Alright thank you so much for all your help. <3

does anyone know that DFI web site to look up bad payday loans to see if they have a license? Thank you.

Hi melissaAnn,

Here is the link:
http://www.idfpr.com/dfi/ccd/ccd_licensees.asp

Hi, I have 2 loans but they are killing me. One for $600.00 (average) has been going on for over a year and a half. The other, also $600.00, for about 8 months, on and off. What can I do to get out of this??!! THANK YOU SO MUCH..

They are with Advance America and Ace Check Cashing.

You will find the Payday loan laws for South Carolina here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Tony, I posted your state pdl law for everyone to see. I find something interesting. It states the maximum loan amount to be $300; however, your loans are for $600 at each one? I looked to see if either was a member of the CFSA, of which you can invoke an EPP to help get rid of them on a payment plan. Advance America is listed as a member, but ACE is not. Post with any questions! :D

The max is $300 per check but they allow you to do 2 checks at a time if you qualify. Where do I find the information on how to invoke the EPP? What would the options be if they aren't members of the CFSA? Thank you fot your help.
Tony