What actions can a payday loan company take?

Someone will be along to help.. but you may want to let them know the state you are in. How much the loan was and how much you have paid..
Just remember they can not and will not come and get you and put you in jail like the so love to say...

It partially depends on your state. But in general PDL companies often make veiled and/or illegal threats (threats of which they can not follow through on). They could report a default loan on your credit report, in some states interest may continue to accrue, but they can not garnish SS checks, nor can they have you arrested. Debtors prison hasn't been around for a LONG time.

Again, post your state. While you're at it, post the companies you have loans with, the amounts you've borrowed from each, and how much you've paid each back. Then you can know precisely what they can/cannot do.

I live in Maine. One company is United Cash, I took the loan in Septmber and paid only the rollover and they never took money pay towards the loan so I feel that loan should be paid off by now. USA payday I owe 280.00 and the other I'm not sure I think its like 75.00 dollars. The thing is I just moved into a new apartment and I'm behind on my regular bills I am willing to pay I just don't know when that will be. Half the reason I'm behind is because I got caught up in this payday loan mess in the first place. Wish I had found this site sooner!

The company is Geneve Roth

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

will look for the PDL co.'s license...

Unable to find a license...anyone else want to take a crack at it?

I took out a loan with Rout 66 Funding and I pay them 35 dollars every week to renew my loan. The agreement was to pay them 35 dollars every two weeks not every week. I took the loan out for 200 dollars and I have now paid them over 400 dollars in renewal fees. I am tired of companies like Rout 66 Funding getting over on poor people like me so as of today I am taking a stand not to give them any more of my hard earned money. Sue me! As long as I owe them they will never be broke!

I spoke with the Maine Office of Consumer Credit Regulation. As I understand it payday loans are illegal in Maine. If these companies are illegal in Maine what can they still take action against me?

Technically they could sue you, but your defense in court is that they are illegal loans. Odds are that won't happen because most pdl's know that if it's illegal their company will be fined for lending in the first place.

All they can do is harrass you into paying. And they probably will try. Route 66 is notorious for calling over and over and threatening everything under the sun to try and get people to pay. Your best bet is to close your checking account so they payments stop, and then wait for the calls.

About Route 66 specifically - They will continue to harrass you for about 2 or 3 months. Once they realize you aren't going to give in, they seem to leave you alone (at least in my case). I haven't heard from them in almost 3 months.

You should send out a wage assignment revokation letter just to be on the safe side. I don't know if wage assignment is legal in your state, but all you have to do is send out a certified letter stating you revoke any and all wage assignments you signed.

A wage assignment is a voluntary wage garnishment. It is completly voluntary. Most pdl's will put something in the contract saying you agree to it. All you have to do is revoke and retain proof and you will be fine as far as wage assigment is concerned.

Route66 is a pain in the behind, I agree!!! I have spoke to them on the phone a few times, although I have emailed them numerous times. They will tell you they cannot contact you through email, but they can sure send out payment reminders through email. I think I have gotten one every day for the past week and every day I reply to the payment reminder with a reminder of my own, that I have revoked authorization to debit my account, etc.. Last night I even put on the reminder "How many times to you have to be REMINDED of this". I am sure I will have another reminder when I get home. My bank has already reversed one of their transactions and I am sure at the end of the week, we will have to do it again. So far, have not heard any more from United Cash Loans. We have reversed their one transaction and they did not even try to debit our account this last time, so maybe they have decided it was best to leave things alone.

balio ~ read, listen and learn from everyone here. There is a lot of good advice and many people have been in the same boat as yourself and some of us are still there to a degree. Arm yourself with knowledge and don't be afraid to ask questions. Once you are armed, you will be better able to handle what the PDL companies try to dish out. Best of luck to you and hold your head high and know that there is a light at the end of the tunnel.

I would like to thank everyone in this website for all there help. Knowing I have a place to go and get answers has made this process alot easier and has given me the resources to stand up to these companies. Thank-you all!

Your welcome! Most of us have been where you are, and know exactly what you are going through. Before I found this site I thought I was the only one with these problems.

goudah ~ that makes 2 of us and I really felt ashamed. Thing I have learned is that sometimes bad things happen to good people. We are all human and make mistakes and sometimes we get ourselves in over our heads. Doesn't make us bad and that most of us want to pay our bills and get ourselves back on track. Sometimes we need a little help and it is nice knowing that there is someplace we can go. Sometimes we just need to vent about the mistakes we have made and get advice on how we can possibly correct the mistake. The people here have been great and not one person has put me down for the mess I have gotten myself into. I may not post too much sometime, but I do a lot of reading and learning and even though I am still having a rough time with some things, I hope I can still be encouraging to someone else.

i live in kansas city missouri i was wondering can i be sent to jail about not paying my payday loans

Are these payday loans storefront or internet?

The laws for Missouri say:

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