I have five payday loans

Date: Sat, 11/18/2006 - 08:10

Submitted by anonymous
on Sat, 11/18/2006 - 08:10

Posts: 202330 Credits: [Donate]

Total Replies: 4

I have five payday loans, cashnetusa, cashcentral, paydayok, tendollar dayday loan; paydayselect that I have been going broke on just paying the fees and extending them. I have made the decision to stop paying them and go into default. I called my bank and asked about that from statement of unauthorized debits and they said they never heard of it before. I live in Minnesota does that make a difference? so I'm going to close my checking account and I want to know should I contact these payday loans and tell them or just wait for them to contact me?

Jm, Welcome to the forums! You have made a wise decision. A few

Jm,
Welcome to the forums! You have made a wise decision. A few things: First off, you are right to close your account as this is the only way to take back control. And it does make a difference what state you live in, as state laws do vary.
I would suggest starting by going to Pollyandsay's blog on this website. There, you can find a template for settlement letters and I do believe she has links to state laws and you can plug in Minnesota. Just so you know, we also have an attorney from Minnesota, Sam Glover, who is a member of this website and I'm sure he can help you too. Keep us posted!

lrhall41

Submitted by kscornell on Sat, 11/18/2006 - 08:15

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Thanks! do you have Sam Glover's phone number or anything in ca

Thanks! do you have Sam Glover's phone number or anything in case I need to contact him

lrhall41

Submitted by on Sat, 11/18/2006 - 08:38

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I would register with the forums first, if you haven't done so a

I would register with the forums first, if you haven't done so already, and then PM him, using your private mailbox. Good luck!

lrhall41

Submitted by kscornell on Sat, 11/18/2006 - 08:38

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Here is the link to your state's pdl laws: http://www.paydayloa

Here is the link to your state's pdl laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=MN
Kscornell is right you will probably have to close that account and open a new one and do what she says, use the template letter on Polly's blog and you also must make your complaints to your AG's office and the dept. which regulates these companies. The link I gave you will give you info. on how to contact that dept.

lrhall41

Submitted by WHEREAMI? on Sat, 11/18/2006 - 09:05

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