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Please help!!

Date: Sat, 12/16/2006 - 16:50

Submitted by pjblake
on Sat, 12/16/2006 - 16:50

Posts: 40 Credits: [Donate]

Total Replies: 19


I have 9 payday loans out and just lost my job yesterday. Please tell me what I need to do. These are the companies that I have loans with:

Paychecktoday $300 + $90 interest
ZipCash $500 + $150 interest
OneClickCash $250 + $75 interest
Soniccash $500 + $100 interest
Cash2daylimited $275 + $80 interest
ameriloan $400 + $120 interest
LoanPointUSA dba Geneva Roth Ventures $300 + $90 int
XpressCash dba DMS Marketing LoanShop#1 $300 + $90 int
XpressCash dba DMS Marketing LoanShop#2 $300 + 90 int

I don't know how I am going to pay these off now that I am out of work. I kept taking out a new loan to pay the interest of old loans and it kept getting worse.

Please help!!!!!


You have registered here which is good. I'm sorry you have lost your job. When the debt counselor calls you, have all your information ready to discuss. You might have to close your existing bank account to keep the PDLs from withdrawing their fees, but don't do anything until you speak with a debt counselor. Many, many MANY of the people on these boards have been in your position. Start reading the posts and asking questions in the meantime. Good Luck.


lrhall41

Submitted by Lorri on Sat, 12/16/2006 - 16:58

( Posts: 1721 | Credits: )


pjblake -

first, welcome to the forums! If you have registered with the site, a debt counselor will be contacting you shortly to discuss your situation.

Please let us know what state you are in - is it New Jersey? Here are a few pointers:

1. Check your state's PDL (payday loan) laws to see if they are legal in your state. Also, check to see what interest rate is allowed by your state, and what the interest rate cap is.

2. Check to see if these companies are licensed to do business in your state. It appears that most, if not all of your loans are internet PDL's - are they? If they are not licensed to do business in your state, you need to report them to your state's AG (attorney general) and the Better Business Bureau. The complaint filed with the AG will do a lot towards getting you out of this mess. Talk with someone personally on the phone at your AG's office, if possible, and explain your situation. They will be able to offer you some sound advice.

3. Have you paid any of the principal on any of these loans in full yet? If so, calculate the interest you have paid on each loan (using the interest rates shown in your state's PDL law). Chances are that you have already overpaid these companies, and need to begin requesting PAID IN FULL letters from them. There are letters on this site that will help you.

4. If you haven't done so already, go to your bank and get these companies blocked from debiting your bank account(s). Most banks will be helpful in doing this.

5. If you signed any documents with any of these companies that allowed a wage assignment, revoke it immediately using the letter provided on this site. I believe pollyansay's blog has one listed.

These tips will get you started. Also, take a deep breath, relax, and try to look forward to the upcoming holidays - you have a long road ahead of you, but you can do it! Stick around and get to know us - we're friendly and helpful - we love to help folks just like you get out of these situations - because we've all been there ourselves.


lrhall41

Submitted by SUEBEEHONEY70 on Sat, 12/16/2006 - 17:02

( Posts: 4583 | Credits: )


PJ If it is New Jersey payday lending is PROHIBITED there. Kyside38


lrhall41

Submitted by KYSIDE38 on Sat, 12/16/2006 - 17:03

( Posts: 2477 | Credits: )


SueebeeHoney I think I have got them all memorized. The states that are all illegal. LOL KYSIDE38


lrhall41

Submitted by KYSIDE38 on Sat, 12/16/2006 - 17:07

( Posts: 2477 | Credits: )


Thank you both. So do you all plus you type better than me. LOl Love ya


lrhall41

Submitted by KYSIDE38 on Sat, 12/16/2006 - 17:15

( Posts: 2477 | Credits: )


Thank you....I live in NJ. All of these loans were internet loans. Some of the fees have exceeded the principal amounts already but it is so difficult because I had some paid off then started up again so I am not sure where to begin. I can't believe I paid off one last week and took out a new one on wednesday and I lost my job yesterday. Now I can't even pay off that one. I am just a mess. Stressed out and not even in the mood for Christmas or New Years. I don't remember filling out any form of wage garnishment papers. My last direct deposit is going in on the 22nd and the pdl's will try to hit the same day. I guess they won't be able to garnish wagers if i am unemployed and close my account. Please advise.


lrhall41

Submitted by pjblake on Sat, 12/16/2006 - 19:30

( Posts: 40 | Credits: )


pj, the same thing happened to me, I lost my job that they had #'s for, closed my bank acct and had my land line disconnected. They reached out by calling my "references" my nieghbor and family. I think they only called them once though because no one has told me they have called again. I did get 1 email but it was very generic. Not saying this is how they will communicate with you but this is how they 'communcated with me" Good luck


lrhall41

Submitted by PDLFREE on Sun, 12/17/2006 - 09:55

( Posts: 1245 | Credits: )


Can someone please help me fill out the form that Polly created to send to payday loan companies? I live in the state of NJ and I don't know where to begin. There is so much legal terms and things like that on there I just don't know what to fill in the blanks and what to delete. Please help me.


lrhall41

Submitted by pjblake on Fri, 12/22/2006 - 08:11

( Posts: 40 | Credits: )


Stop being an idiot. Seriously. 9 payday loans to pay off other payday loans. Something tells me you're not the sharpest knife in the drawer. Where in life did you lose common sense? Because the most simple person understands that all you did is make a bad situation 10 times worse. Live with your decisions, learn from your decisions, and pay what you owe.


lrhall41

Submitted by on Thu, 03/22/2007 - 07:59

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