help the newbie....

You need to close that bank account today and change your direct deposit, this will put you in control of things. At least then you can pay your mortgage, eat and pay your utilities. Is your bank account overdrawn? If not your bank should let you close it, however, if something comes in the next 30 days it may attempt to clear and the bank may charge you fees, you need to make them (the bank) that you are trying to clean this up, maybe, hopefully they will work with you. Go to another bank and open another account, have your direct deposit go there. Do not under any circumstance, give the pdl companies your new account information.

What state are you from? Also can you list the internet pdl companies that you have your loans with? How much you borrowed and how much you have paid back? Hopefully you are from a state that has some kind of consumer protection. If you answer these questions, you may already have paid enough, I will be looking for your reply here in this forum.

Yeah - what fed said.

Close that bank account. Get your money back in your hands. Your priority is home, food, utilities. After that, your money can go for your bills.

As fed said, who are these companies and what are the total loan amounts and the amounts you have paid? There is a good chance you have more than met the loan requirements based on your state laws, and in that regard, these PDL companies are just ripping you off.

Be prepared for threats of jail, court, fraud....blah, blah, blah. Very standard (and illegal) fare from some companies. The fact is - you are not trying to get out of paying back your loan. You just want to pay it off. More than likely, though, these PDLs are illegally rolling over the loans again and again, never really giving you a chance to pay them off. That is how they work.

They people here are good really listen to them and take the advise they give. Get your life back.. been there. and I am just a bad with money.. REALLY bad.. I have been there and I make really good money.. Just like to spend.. but I learned the hard way..

I had to close my account and I went to a totally different bank and switched my direct deposit to that account. I got my life back and it was a big relief. You will however get the calls coming about going to jail, fraud, so on. You are in control of your finances and you will work with the collection agencies on YOUR terms! DO NOT GIVE OUT ANY OF YOUR BANKING INFO.

I am pretty sure I know which companies I have, but some I cannot find on google. I have whitesand, epayday, payday yes, magnum cash advance (They called me today and said I had to pay 75 dollars every two weeks and the interest will be accruing every day), netcash usa, and I think one more but I cannot think of the name right now.

I want to pay small amounts on each one or better yet, get a debt consilitation and pay that each month.

I do not want to close my account at my bank because I have had it since I was like 16. I dont have any negative balance at the moment but I only have 30 dollars in there and it will not last till next payday. I went in person and made payments on 3 of my in town cash advances today. Advance america is the only one that is being kind of tough, I have till the 30th to make a payment of 420 dollars or they said they will take me to court.

I live in Iowa. I might post later after I call a debt consilidation place.

Thanks for the info and feedback, I appreciate it so much.

Meredith

While I didn't have sixteen loans, I did have PDLs both storefront and internet. When I finally decided to free myself of these rodents, I didn't close my account. Instead, at my bank, there is this sheet that you fill out called a statement of unauthorized debit whereby you block the company from accessing your account no matter what the price was. This is better than a stop payment which stops a particular payment to your account.

You may want to consider contacting each company and working out a debt payment plan that you can afford. You can use the Do It Yourself method on this message board which will give you great tips and sample letters.

You can also consider a debt consolidation company to assist you. Beware and do your research. Most of these companies charge a fee for their services. Research many of them on this website.

I hope that this helps you.

Hi "newbie". :) I'm new on here too and have been poking around and reading through myself.

First of all, wow, I cannot imagine having that many payday loans. What a mess! (I've done my share with credit cards, so I am no stranger to that "downward spiral" in my own way.)

I do know that if you contact the lenders, most of them will be willing to work with you. This is something I've done. I can't speak for them all, but I know it can work. Haven't read the DIY method others have mentioned that's on this site, but I bet it's a start.

Call them up, or better, email them -- and see what you can do. It might be best to do it before you default, and give yourself a fighting chance.

That is nice you have loyalty to your bank account, however so will these payday lenders, you will never get away from them as long as they have access to your account and as long as it is open they will continue, that is just what they do. See if your bank will let you close it and open another one. Some of these lenders will not deal with you until you go into default with them. That is when you will get their attention and the money you are paying will come off your balance. How long have you had each of these loans, can you list the companies, how much you borrowed and how much you have paid back.

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

Your state law is real consumer friendly, you need to let these lenders know the law is in your favor, if you let us know what lenders, how much you borrowed and how much you have paid them, you may have refunds coming or at least have them marked paid in full. Let us help you. Not many companies deal with payday loan consolidation.

It says in your laws that rollovers are not allowed. In other words, when the companies were taking out money every 2 weeks, they were breaking your state laws. You need to see if these places are even licensed in your state. If they're not, figure out how much you have paid them already. If they're not licensed, you only owe them the principal you borrowed. If you have already paid this in interest, demand a paid in full letter.

Hi there, I have a question for fedupinpa specifically...I believe you've included similar information to other members for different states. Do you go to the Attorney General's site for each state, or do you have a specific resource? I'd like to do some reading on my own!

paydayloaninfo.org/lstatus.cfm
Put www. in front and cruise over to this site.It is very informative on pdl's.There you have just exhausted my complete knowledge of pdl's. Have a good read and holler if you need us.

woo-wee, you is proud of you.

Still ain't got the first clue what you are saying and what point in relation to this topic you are referring to.

Cajunbulldog, thanks for the website, I will definitely check it out!

Mlposting - paydayloaninfo is a great site, but I recommend also checking out the regulators site that it has links to. Some of the info on paydayloaninfo is misleading, like if you look at PA it says they are prohibited, when only pdl physically located in PA are not allowed. As long as a pdl is licensed in another state they are fine and can follow the laws of the state they are licensed in. You can't get the info from paydayloaninfo. But it's a great starting point for locating general info on each states pdl laws.

Hi gouda2424, thanks for the advice, I will definitely check those out as well. Have a good day!

You too!!!