payday loan default

There might be two consequences by making such a move.

If the loan place is violating the laws in your state, this move will put you in a better position. But if you are doing this just because you cannot afford the payments and want to avoid it, and if the company is doing a legit business, I will not suggest you taking this step.

There's always a peace of mind if you call them and explain your situation. You may get the hope from them and some extensions done for your good. Give them a call before you think other ways to come out of this problem.

You will need to close the account and open a new one. Below is a link to your state's pdl laws. You are doing the right thing. You also need to file a complaint against these companies with your AG's office, the AG's office in the state in which each ipdl is located and with the proper banking regulatory dept. for each state. (The link will provide you with that contact info.)These companies are going to threaten you with arrest, fraud charges, you name. Just know these are all false threats and you will NOT be arrested. If you have been paying on these loans for some time and only paying the roll over fees then demand they mark you paid in full. This is just a brief answer to your question/advice. Please post any more questions you may have. Just PLEASE do NOT be frightened by their threats. But CLOSE that account NOW.

http://www.paydayloaninfo.org/state_detail.cfm?id=IN

If you have a loan with CTC then you need to REVOKE your voluntary wage assignment ASAP, they will attempt to take the payment from your paycheck. But you are going to be fine, close the account, file those complaints, and start demanding they mark you paid in full if you have already paid back the principal and legal interest your state allows in those roll over fees.

Also, these people are real a$$holes, calling them is only going to tick them off and they will start giving you the damn illegal threats. Trust me been there done that.

it says in the PDF file that the cap is 15 dollars per 100 and i am being charged 30 on all loans , Criminal action is prohibited?, will my checking account be safe ?

Your account should be safe so long as you do NOT give out your new account information for ANY reason.

And these people will threaten you with criminal charges, just know they are lying and trying to intimidate you into giving out your new account info. or to get you to send them more money. And your state doesn't allow for criminal prosecution for defaulting on pdls. And the law pertains to licensed pdls, these companies are NOT licensed to loan in majority of states, I'm willing to say NOT IN ANY of the states. You will also find in some cases they are not even licensed to loan in the states they are located. And some are located over seas.

[color=red]Spam deleted - Mike[/color]

There's an advertisemant for a certain scam above my post that will surely be deleted.

The funny thing is it's such an obvious scam with the bad grammar, spelling and e-mail address.

Don't ever wire money to get a loan.

As for defaulting on PDL's I did it on my storefronts. I called them first and they were nice about it but I do have all the NSF fees to deal with. The good part is the interest has stopped.

Kristi, to report spam in a much more timely manner, use this thread:

www.debtconsolidationcare.com/pub/about14283.html

I just posted it for you. Thank you for caring :)