Screwed

What state are you in? And are these storefront or internet pdls? Storefronts are licensed and can take you to court to get a civil judgement, and they typically operate within the law.

Well, they can't charge you with fraud. But if they are storefront, you should try to work out some arrangements before they decide to take it to court.

I am in ct. I had a lawyer call me today and tell me that I actually had two loans with the same bank. They want 1,400.00 dollars. damn i only borrowed 600.00 with them both combined. I closed my bank account because I was going to get kicked out of my rental if I didnt pay the rent. Yes they are all internet. i have 11 loans out. I guess they want so much because of the charges and stuff.

If they are all internet, they are most likely not legal. Except we still don't know what state you're in. If your state requires a lender to be licensed and regulated by the state in order to charge interest, and the internet store doesn't have a license, then as far as you're concerned, you only owe them the original principle amount borrowed.

They will threaten you... and they will tell you they don't have to follow your state laws because you signed a contract... and they will tell you anything they can think of to get you to believe you owe all this interest. But you probably don't.

Look up your laws to make sure this is the case, and if they're breaking the law then tell them you are aware of their infractions, you will only agree to pay the amount borrowed, and if they continue to harass you then you will file complaints against them.

ok I checked the web page out but what does this mean?
Connecticut State Information

Legal Status: Prohibited

Citation:
Usury act applies or small loan act applies. Conn. Gen. Stat.???? 36a-563

Small Loan Rate Cap
30.03% apr or $17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest

Payday loans are prohibited. The maximum interest charge that any licensed lender can charge is 30.03%. The internet paydays are obviously illegal.

How much have you paid them so far? Demand that you will only pay the principle amount back, and if you have paid more than that, then demand a refund.

these PDL places say I must obide by their state regs
Is this true?

what companys are they?

how do you know if the internet payday loan companies are licensed in your state or not? I live in Minnesota and all the ones I took out are like in NM, UT etc.

All states have a Dept of Commerce. The loan companies have to be licensed with the state regulator before conducting the legal business. Here is the list of the companies licensed in MN

http://www.commerce.state.mn.us/pages/FinService/FSLicensees/sl.html

tracybldwn, you do not follow the PDL's state laws. They must follow your state laws! They loaned you, in your state. Don't let them get by with that excuse!! It is wrong.

I contacted langhorne dept solutions.
I feel so much better knowing that the can help me. And I truely feel they are resonable with there price. I forgot who told me to contact them so who ever you are Thank you!

Most of these payday loans (internet) are scams. They are just lending you some money, and trying to take back all of yours..

I'm glad you signed up with Langhorne Law. This company knows a lot about PDLs and how they operate as well as contact information on them, so they will definitely be able to help you. Others who signed up with Langhorne Law were very pleased with the efficiency and speed with which they handle things. Good luck to you.

Thank god there is help out there.