Started with one and snowballed to six

Hi! you are in the right place. Ok here is some info that we need from you to give you the best advice:
What state are you in?
What companies have you borrowed from?
Are they storefront or internet?
How much did you borrow from each company and how much has each company taken out of your account total?

Thanks Leah.
I am in the satte of Alabama.
I have 3 storefront pdl.
Cash Max 470 is the balance and have been paying 70 dollars every 2 weeks since 2004.
A Dollar is exactly like Cash Max except only for about a year.
I have opened a new storefront pdl at Checkmate in the same amount of 470 with the same details.
Online loans include:
Check N Go 1700 loan. Will be paying 274 dollars every other week for 8 payments to payoff.
Magnum Cash 500 and paying 126 every week for 6 weeks.
Have paid 126.
Tremont Financial for 500. Have paid 450. still owe them 520.
I know that the online pdl I have will be paid off in time, but what can I do without taking another pdl out to survive the week?

Ok first things first-Take care of those storefront because they are the ones that are liscensed and can take you to court to get their money, so call them and try to make arrangements. They can be hard butts but just be persistant. Ultimately they want their money! I am going to go look up your laws and be right back with info on the internet ones

You will find the Payday loan laws for Alabama here (just select your state),

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

Ok so sorry about the triple post there...hopefully a mod comes and takes that off....

OK First of all-whatever you do DO NOT TAKE OUT ANOTHER PDL! Trust me. Once you get into this cycle its hard to get out and it can be nerve racking...
Ok for the loan of 1700-If you are paying the way you are saying you are paying you will be paying back $2192 for a $1700 loan(thats a difference of $492. The most that this company can charge you per your state laws is $1997.50. Anything after that is a violation of AL laws. SO you need to apply the laws to all these IPDL's. Then you need to send them a letter reciting the laws in AL, revoking their right to debit your account as well as revoking any voluntary wage assignment that you may have signed. Ok the next one you state MAGNUM CASH- the most that they can legally charge you is $587.50 (Same for any other loan of $500)
Also note that in your state rolling over the loan is only allowed once, so anything you paid to them after that first rollover has to be applied to the principle amount of the loan

PS- as for the storefronts, your state allows for a repayment plan if you default, make sure that the storefronts know that you know that because they will try to tell you that you have to pay it all upfront...

Tremont is known for putting wage assignment clauses into their contracts. Be sure to revoke it - All you have to do is send them a certified letter stating "I revoke any and all wage assignments I have signed with your company." If you don't do this they can "assign" your wages, which is like a garnishment, but completly voluntary.

Leah, can I get you to give me the same info. as you gave cpabts above only I live in Minnesota. I can't even find out if they are licensed in MN.

The company I am referring to is 500Fast Cash

You will find the Payday loan laws for Minnesota here (just select your state),

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


Rollovers are not permitted in MN, so if you are paying only the fees every payday, then the companies are breaking the laws. You can call your state's financial dept or go to their website to find out if the companies you have loans with are licensed.

cpabts - The loan you have from check n go may be considered an installment loan, not a payday loan. Therefore the same laws do not apply. If you have a set payment amount for a set amount of time it is an installment loan or small loan. Payday loans are "meant" to be paid off completly the next payday.

I hate to say it, but short of closing your checking account and starting anew I would suggest borrowing a little cash from a friend, family member, or coworker to get you through if you truly need the money until your next payday.

I was in about the same boat as you and got in deeper and deeper with the PDLs until I could no longer pay the bills that I originally took the loans out to pay (car, rent, electric, etc.) I had to stop this cycle by getting a new checking account and defaulting on the loans and am still working to get my head above water. My bills will soon be going through a debt management company and I will have to learn to *save* emergency money and get out of debt from now on.

HTH... let us know what you decide to do.

Thanks for getting that one for me Goudah! Love that team work!

Take outofdebts advice on that...Since I got out of the trap if I dont have the money, then I do without!

Very good advice from everyone here--
But I still stand with closing the checking account and getting a new one as a first step. You have to get that control back first, and then not spend money if you don't have it.