Internet Payday loans

Go to paydayloaninfo.org and look up your state laws, see what you have paid to these companies versus what you have borrowed because there is a good chance that you have already paid what you legally owe according to your state laws....GFS is a pain in the butt! Just letting you know!

Since Iowa doesn't allow rollovers, I have been extending on all of my loans. Can someone explain what this means?

Daisy - how much money have you borrowed from each company, and how much have you paid back?

that depends on what you mean by payback if I pay a fee to extend it, does that count even thought principal isn't going down?

don't worry about that...just let us know how much money you've paid to each of these loan companies, and the original amount borrowed....

they want you to really believe that those are just extension fees...but they're illegal in your state...so you take what you've paid, apply it to the principle + legal interest... and see what you have left to pay, or what you've over paid...

so again, how much were your original loans, and how much have you paid?

Route 66 loan amount 225 i have paid 585.00

United cash loans- loan amount 200.00 I have paid 460.00

GFS loan amount 200.00 I hae paid 240.00

Cash advance loan amount 200.00 paid 122.00

payday select loan amount 160.00 paid 229.54

payday okay loan amount 200.00 paid 79.29

I put this together kind of quick but it's pretty right on.

Payday Select and Payday OK are extremely easy to work with. At first they didn't want to back down but after I told them the laws for the second time, they offered me a payment plan that I could afford to pay off the principle. Send Payday Select a letter with your state's laws, the amount you have paid, and that you would like your account marked PIF. It might take a couple times but it probably will be taken care of. Payday OK will work with you on a payment plan for the principle. United Cash Loans is not cooperating with me so well but I still owe them $20 on their principle. I don't know anything about the other companies but Leah can tell you about GFSIL. They are not nice to deal with.

The internet paydays are actually not allowed in Iowa so you need to push these companies to mark your accounts paid in full. They need to be licensed to lend in Iowa.

Can anyone give me an example of the letter I need to comprise to send to them?

You are going to have a heck of a time dealing with GFSIL-they are going to call you non stop both at home and work and make all sorts of threats...My advice to you on this one is to not take any of their calls, file a complaint with your AG. It appears from my own experience as well as some others on the board that once they realize that they cannot intimidate you or that they are not going to get a hold of you, they leave you alone after about 2 months(I know its a long time but trust me, once they stop it is a huge relief) also if you still have the bank account assoicated with these loans, close it and get a new one because GFSIL will ignore any and all correspondence you send them telling them to stop taking money from your account!

Also United Cash is a pain any company that is under MTE Financial is a pain and I found out that even though in my letters I told them not to report to Teletrack, Credit Bureau, I found out they have reported me to Teletrack. Does anyone knows or have had any experience dealing with Teletrack about removing this derrogatory information from tyour record as they were loans made illegally?

I wouldn't worry to much about teletrack...the only people who use it are PDL's and other subprime lenders..so really what is it hurting? SO you cant get a PDL? Thats a good thing! Also, I found out that most of these pdl's/and their collection agencies aren't even recognized by the credit bureau

Leah,

How did you find the information out about the credit bureaus not recognizing their CA's?

I was bored one night and was doing searches on the web, I think I bookmarked it at home and if I can find it I will post the link(at work right now) I know it said Bass and Associates, Ellis and Crosby and someone else I Have read about on here are not recognized by them....I will look for it when I get home

Leah did you find the info. regarding pdl and ca's not being recognized by the credit bureau? If all they do is Teletrack is ok I am not planning in getting more pdls! Thanks,

Teltrack is not a credit bureau affilliation. Not one of the Big 5, Credit bureau's.Does not report to credit bureaus. It is a source tool. Teltrack is used in many states that regulate the number of payday loans a person has. It's a good tool to not overextend a person-required by state laws- ie Florida.If a PDL lender is a subscriber to teltrack it will desplay if you are using another PDL. Also Teltrack will display if you have NSF, W/O-write off,other collection info. secondary lenders/ auto lenders use it. Again,It does not report to the credit reporting agencies. collection agencies can use it if they subscribe. It pulls info from your social security number.

Not one PDL that I have ever heard of uses credit bureau reports.(unless they retain a collection agency that reports) If the PDL state allows, and if they have a NSF or Account Closed check-the physical check in possession and WITHOUT payment paid on the check they can file with the court or local state attorney or majestrate office against a person. Storefront PDL's physically in the U.S.can and do, do this. Passing bad check laws in your state apply here. Only collection agencies if they subscribe to credit bureau reports will report a debt. So if a PDL-retains a collection agency and in their agreement allows credit bureau reporting the debt can be credit reported. To the best of my knowledge- These Out of country internet PDL's such as GFSIL do not credit report-they only threat that. If a collector tells you they are filing in court they must do it. They can not threaten you with court/jail and not do it that is FDCPA.Fair debt collection pratices act. However these out of country PDL's are violating fdcpa big time. We are working on that. Remember you can have credit reports updated once a debt is paid. The status can be reported paid. Thats a whole nother can of worms.

Okay would you recommend sending both revocation letters or just the ACH revocation? Will they try to garnish my wages?

I'm trying to find a number where i can contact them to pay off all the loans but i couldnt find it and all they do was withdrawl money off of my account every two weeks..i asked my bank to track their number and they cant do it..anyone ever borrowed money from this tjf corp. Before and if u have a number please response to this..thanks for your help

Manage you money and you will not be in these situations!!!!! Plus read the fine print before you agree to anything!! It????????s a payday loan to be paid back on PAYDAY???????..nuff said!!!!

oh no, its the payday loan supporters, oh no, not again.............whatever