Payday loan trouble

Welcome to the forums. What state are you in? Who are the loans with? KYSIDE38

What did you fax to the companies?

I faxed a letter stating that I am having financial difficulties and don't think I'll be able to have the money available for renewal or repayment on Friday. I asked them if I could arrange another payment amount. Also, when I first posted my question here it took me to a page that said I was banned--I'm talking immediately! Was that a glitch?

I just heard back from Plaza Processing and they said they would skip this week's renewal and I could either pay the renewal or the pay off amount on the 26th of this month. So, that buys me a little more time and I won't get any NSF fees for them this week, but I've got two weeks now to figure out what to do. I'm open to suggestions!

LK, It was probably a glitch. We have had some trouble with guest before. Go to http://www.paydayloaninfo.org and look up your state laws on payday lending. Best Wishes Kyside38

lkjones - we seem to be having a few issues with that particular problem lately - you are not banned, as you are still able to post. Sorry for the problems - I'm sure someone is working on the issue to get it resolved.

Thank you for the website. I will check it out now!

LK, Pay back the principal of the loan and what your state allows in interest. These people in some cases charge over 800 percent in interest they will bleed you dry. KYSIDE38

Okay, I haven't looked up the laws for my state yet, but I get what you're saying. They are each charging me $60 every two weeks to "renew" and then to pay in full it would be the amount of my loan plus the 60 dollars each. If I paid the principle and the allowable interest, they can't get me for the rest since I signed a "contract" online with them? And also, if I keep paying the 120 every two weeks, I feel like I'll never be able to pay it all off at once!

LK You wont. They will keep taking and taking. In many states payday lending is ILLEGAL. It is in WV where I am. KYSIDE38

I looked up the laws for my state at the website kyside38 posted. It says for Max. Finance Rate and Fees 15.50 for every 100 dollars. They are charging me 60 dollars and I only borrowed 200. It also says no rollovers allowed, but isn't that what I'm doing each time they take $60 to "renew" and it says Repayment Plan: Yes. Does that mean they have to work with me to set up a more equitable repayment option? I do intend to pay my debt or would never have taken it out. Things are just getting out of hand!

That was me above! I forgot to put a name in.

Most of the time they wont work with you. I would close that bank account and send them money orders until I paid what my state allows. They will threaten you with everything from check fraud to jail to coming to your house etc. They are blowing smoke. There are no debtors prisions anymore. Also most important file complaints with your Attorney Generals office. The AG in my state is getting refunds for consumers because they were ILLEGAL here in the first place. This is the only way to shut them down. The more complaints the better. KYSIDE38

Okay, well thank you for all your help. This has been a very helpful website!

LK, You are welcome. Register and join us here we are a good group of people. LOl KYSIDE38