in trouble again
Date: Fri, 12/08/2006 - 09:21
What state are you in and what companies do you have loans with?
What state are you in and what companies do you have loans with??
Hi valkary3 , welcome to the boards. There are many people here
Hi valkary3 , welcome to the boards. There are many people here who are in your situation. First off youhave to realize that the payday loans are at the bottom of your financial list to worry about. If you have not done so yet you need to close your bank account and open a new one thus they can't take anymore of your money. What state do you live in as the laws are very specific in each individual state. Also you need to sit down and make a list of each payday loan company you are doing business with. How much you borrowed and how much they have ACH/debited from you so far. This is a start for you, I promise it will be okay. Keep posting and many will assist you here
Quote:we are confused and ashamed Don't be. With they way the c
Quote:
we are confused and ashamed |
Don't be. With they way the companies work, they attempt to get you into both of those emotions to prey upon you. Hang around and we'll be here to help.
Remember - you are only foolish if you don't attempt to learn from your mistakes.
Hi Valkary3 - Welcome to the forums! You'll find help here
Hi Valkary3 -
Welcome to the forums! You'll find help here with your Payday Loan here. We're a friendly bunch, stick around and get to know us - we'll be glad to help you as much as we can. Please don't be ashamed of your situation - we've all been there, some more than others, and although it's not pleasant, it can be worked through, and you'll be stronger for it. Educate yourself with the info provided on this site, and begin your journey today!
Here's a few bits of info for you. On this site, many things are abbreviated - here are some common ones to help you out:
PDL = Pay Day Loan
IPDL = Internet Pay Day Loan (one obtained from a website, often with no paper or hard copy of documentation)
Storefront PDL = a pay day loan obtained from a brick and mortar retail location, where you signed documents and agreements to obtain your loan.
AG = your state's Attorney General
BBB = Better Business Bureau
CA = Collection Agency
Hopefully this helps - keep us posted on your progress!
CRA -Consumer Reporting Agency (better known as the credit dudes
CRA -Consumer Reporting Agency (better known as the credit dudes, Experien, Transunion and Equifax)
I live in Indiana as well. Here is a copy of Indiana law Quote:
I live in Indiana as well. Here is a copy of Indiana law
Quote:
Indiana State Information Legal Status: Legal Citation: Ind. Code Ann. ???? 24-4.5-7-101 et seq. Loan Terms: Maximum Loan Amount: $500 (not to exceed 15% of borrower's monthly gross income) Loan Term: Min: 14 days Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500 Finance Charge for 14-day $100 loan: $15 apr for 14-day $100 loan: 390% Debt Limits: Maximum Number of Outstanding Loans at One Time: One per lender; Two total Rollovers Permitted: None (cannot renew, repay, refinance or consolidate) Cooling-off Period: 7 days after 6 consecutive loans Repayment Plan: After 6 consecutive loans, lender must impose a 7 day cooling off period or convert to an installment loan payable in more than 4 installments at a rate no greater than 36% APR Collection Limits: Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another Criminal Action: Prohibited Where to Complain, Get Information: Regulator: Indiana Department of Financial Institutions Address: 30 South Meri dian Street, Suite 300 Indianapolis, IN 46204 Phone: (800) 382-4880 Fax: Regulatory Contact: Mark Tarpey,, Supervisor, Consumer Credit http://www.in.gov/dfi/ |
valkary---whatever you are don't be ashamed! You were in a bind
valkary---whatever you are don't be ashamed! You were in a bind and fell into the same trap as the rest of us. Hang tight, keep focused on the right now and you will eventually be feeling better and doing better financially. It won't be easy, but it is do-able.