payday loan destruction

Dead man-I have been where you are and trust me...you do not need to commit suicide! Answer some questions for me and I will help you through my own experiences..
What stare are you in
What companies did you borrow from(their names as well as if they are internt or storefront)
How much you borrowed from each company and how much each company has taken from you moneywise in so called fees??

I have the following:

premier processing- $250, $75 in fees every payday
nationalpayday.com- $300, $68 in fees every payday
mypaydayloan.com- $300, $75 in fees every payday
unitedcashloans- $300, $90 in fees every payday
paydayone- $500, $100 in fees every payday
thinkcash.com- $500, $89 in fees every payday
omg? or something like that- $300, $90 in fees every payday

I've completely ruined my life with this stuff.

Deadman ~ there are definlty other options besides killing yourself. That would not solve anything. It would just make things worse for those that love and care about you and to be honest, I don't think these people would care whether you were dead or not, I am almost sure they would harrass your family.

Post the information that Leah asked for. If we have a little more to go on, people will know what direction to point you in.

Hang in there....it will be alright and keep your chin and your faith up. You will find a lot of help, support and encouragment here. You can/will get throught this.

Ok now what I need to know is what state you are in and for you to add up how much in fees you have paid to each company....
Hey calm down! I was in your shoes a few short months ago and this site saved me...so I am gonna do what I can to help you out of this mess :)

Dead Man, I know where you are coming from. I had about 11 loans going at one time. We did default on our Mortgage. The best thing that happened to me, was that my bank account got closed, so they couldn't get to our money anymore, and then we just kept calling and working out payment plans. I have 3 left to get taken care of, and our home just came out of foreclosure. Hang in there, and really listen the the wonderful advice you will get on this board. It will work out.

I'm in Kentucky. I have been paying nationalpayday.com $68 twice per month for a year. I've been paying mypaydayloan.com $75 twice per month for 8 months, on the rest I'm just 3 or 4 months in.

Please! Killing your self will just put this burden and many others on your loved ones. Please tell us what state you are in. Leah meant to say state not "stare." Chnaces are that you have already paid more than you are required to by the laws of your state. I had seven PDLs and felt strangled until I came here. I have paid off one, eliminated another and am filing criminal complaint about a third. The others so far have been either managable or have not contacted me. You will learn about the different tactics and reputations about each and everyone of these and learn how to deal with them. You MUST close your checking account so you can deal with them on your own terms. It will be a challenge that is not as bad as you think if you step up and do not allow them to intimidate you. You have laws on your side that they will not admit even apply to them but they do.

Hey KY....see
You will find the Payday loan laws for Kentucky here (just select your state),

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

You have probably paid these off in full per your state laws...But here is what you need to do now: CLOSE YOUR BANK ACCOUNT and OPEN A NEW ONE

When you close your bank account please ask your bank what their policy is on ach transctions going through closed accounts. Some banks will force open the closed account and allow the transactions to go through. If your bank does this, ask them to put your account on deposit only before they close it. Tell them your situation and that these companies are notorious for debiting people's accounts without authorization.

here are some things to do immediately:

1) talk to your bank (inperson with a manager) explain to them your situation and ask them to do the following a) close your existing account and open a new one
b)pay any important outstanding items (like bills, car payments etc.. out of the new account, and return all others

once this is done, you have protected your money.

2) Then write each lender a letter revoking immediately their right to electronically debit your account.

3) If you can;t make your mortgage payment, contact your lender immediately and explain the situation and ask for help in working it out

4) you will know have some breathing room, and can work on the next phase which is telling each and every company not operating legally in your state to get lost. This will require some work, but with our help you will be okay

above all remeber this.. you will be okay.. we will help you will be okay

Do what other people here have recommended. Since your state does not permit rollovers, every one of the companies you are dealing with is operating illegally.

Also, don't let their threats of criminal charges scare you. You will not be charged with any crime or arrested. They are only trying to scare you even more. Close that account, open a new one. In the meantime stop your direct deposit until you open your new account, start catching up on your bills. And file complaints with your state's Attorney General's office against each of these companies. You are going to be fine. I hope you come back and read the rest of the advice others have posted. You will be able to sleep a little easier once you do and even better when you start taking these steps to gains control over your finances.

Dead Man, please stop the suicide talk. That is how I felt when I found this forum too...I thought it might be the only way out but with the help of everyone here I know now that none of these places are worth doing that to yourself or your loved ones. You have gotten some really good advice from everyone above, now follow it and things will look up for you very soon. In fact you will feel a million times better as soon as you close that bank account and open a new one. Please feel free to come here and vent your stress/frustrations. There is nearly always someone here to talk to. Things are going to be better for you very soon. :)

Dead Man please do not talk like that, it may look bad at the monent but if you listen to all the above adivse you will be ok. I had 10 internet loans and 10 storefront loans out at one time and I am doing ok now. I am still dealing with some of them. But as soon as you close your checking account you will feel much better. I never wanted to talk about my situation to anyone but it came to a point that I was paying over $4000 per month just on roll over fees and I said enough is enough. I couldn't pay rent, my utlities, car payment or even the class fees for my kids school, heck I couldn't even afford a $10 field trip fee for my kids. Then when my kids said to me one day when I was doing my regular friday running to pay my roll over fees why are you always going to these places? I was embarrassed and didn't know what to tell them. Thats when I came accross this site and here is where I first told someone about the mess I was in. I got lots of help and advise.

We will help you along the way, give you advise, and the understanding you need to get through this. And most important just knowing that you are not alone in this situation. We have been there.

I would contact your mortage company asap and explain your situation and they should be able to help you with your past due payments. Then go and have a talk with you bank and see what they suggest you do with your checking account. But most important be honest with the people you are making arrangements with and make them so you can afford them, so you have some money left for gas, food and your other everyday living expenses. You will be ok.

DeadMan...I was in the same situation that you're in now. I thought there was no where to turn and I felt totally alone. Since finding this forum, I now have the knowledge about the laws in my state regarding these crooks and I found out that I have way overpaid most of these loans, or only owe them small amounts. I have written all of my PDL companies, revoking their right to debit my account. Then I placed my account on "deposit only". My account was overdrawn and the bank wouldn't close it. That way, any debits made to that account will be returned. Then I opened a new account at a completely different bank. One PDL company whom I owed $700.00 too ( I took out a $500 loan and ended up paying over $1200 in rollovers) has marked me PIF and are issuing a refund to me for $320.00! I never thought that would happen! Now I am pretty much waiting for my loans to default so I can start really dealing with the other ones. I am paying two of them off (my husband had to lend me the money) and the others ones I am fighting. Please don't get discouraged. These crooks are mean and cruel and want to scare you. Believe me, I'll be terrified when these PDL's start calling me and harrassing me, but I know what I've paid to them and I know what I still owe them. The best thing you can do is be informed and be prepared to fight!

See DeadMan, you are not alone. So many of us have been in the exact same place. Before I found this forum, I thought that I had to be the only person in the world that had gotten myself into such a mess and couldn't pay my bills because of payday loans. Like puddlejmpr said, my stepdaughter was asking me why every payday I had to drive around to all these pdl places too and then go back the next day. I was so embarassed. Then I came here and found out that I was not alone and I felt so much better. Please come here if you need to talk. Everything will be fine and things will look up for you very soon. Bublefan has only been here a short time and look, already has one loan PIF and getting a refund!

Bublefan, I was scared to death when the places started calling me after I defaulted. I was on here freaking out and Leah and 2nband had to calm me down because I thought I was going to have a nervous breakdown. But you know what, it will pass. Send them letters and emails. They will quit calling and be willing to deal...well most of them will. The horrible calls don't last too long. Everyone has given great advice and it is great that we can share our stories and let people know that they are not alone. That's why this forum is so awesome. :)

I agree Sassy...I have felt much better since finding this place. Although I have only one loan PIF, it feels like a big victory to me! I still have ALONG way to go, but I know that with ya'lls help, I can become PDL free in no time!

One PIF says a lot. It says that you have taken control back over your life and your money. I still have a long way to go too because some of these places have just stopped contacting me but I am SO much better off than when I came here. Every time I get paid, I actually have a paycheck instead of the whole thing being gone because of these loan sharks. :)

I have gotten 2 PIF's since finding this site.. the advice is awsome.

My ? is: how do I get the PDL co's to refund overpaymts. I live in ME and as soon as I told them I was thinking about initiating a complaint, they said my loan was PIF, but did not offer a refund...how do I go about getting overpmts refunded to me

You can try to get a refund...But I have not had any luck and to be honest, with as shady as these places are, I would say if you have the PIF letters and cannot get anything else, cut your loses! But if you do get a refund DO NOT CASH THAT CHECK INTO YOUR PERSONAL ACCOUNT...take it to a liquor store and pay to have it cashed..Sometimes they send a refund to get your new info and then attack that account!

Getting PIF letters is achievable in most cases if you've overpaid and make a big enough stink. Getting a lender to give back money requires serious pressure - an activist AG, a credible threat of a lawsuit, etc. If your goal is refunds, you need to get a lawyer and file lawsuits. Even then, good luck collecting. A few companies occasionally do it if you make a big enough stink, but this is very much the exception to the rule.

My advice - if your goal is to put this behind you as quickly as possible, settle for PIF letters. I'm sorry if this sounds discouraging, but you haven't "failed" if you settle for a PIF or even if you pay a lowball amount to close an account. You've put a bad situation behind you and are ready to move on.

Amen, Freaky. Deadman: listen to what everyone is saying here. There IS light at the end of the tunnel! Might not be today, but it IS coming, trust me. Start looking into a firm that consolodates PDL's. The sooner you do this, the sooner you get your life back.

Leah and freaky, thanks for the info about not cashing the check in to my acct, I had not considered this.

You are so right, I had six PDLs out and was able to get 4 PIFs and 2 companies are saying that I have to payoff the principal in increments.

This is not too bad, but I am wondering if they can put negative information out on me that the CAs can pick up on. I heard that the CAs had a way to check teletrack for PDL activity and include in your credit report. Has anyone else heard this and is it true..thanks again...this website saved me alot of money and my sanity.

I have a few more things to take care of , but I am def on th eroad to recovery. Take the first step to getting rid of these loans by calling the lenders and finding out the laws of your State. Ask a lawyer for some advice and close your acct immediately.

This is the first step and it is the only way out from the nightmare

hey bro just hang in there things will work out , the best advie i can give you is close your cheaking account and if you have direct deposit from your job stop it , and tell the payday lons to go to hell , remember there is no debtors jail! and those dumb

**** cant do nothing to you , BUT you must live in texas to keep any further legal action comming your way 8)


[color=Red]****Adult term removed - Jason[/color]

Coming to this site was the best thing you could have done for yourself. You will come out of this. First thing you have to do is take back control of your money and your life. To do that you need to close that bank account. My bank was less than helpful and wouldn't close it so I was forced to stop my direct deposit so that my money was coming to me. Unfortunately I lost the bank account but I can live without that. What I could no longer live with was the stress and financial ruin that these pdl's were putting me in. I worked out a payment plan with the mortgage company and paid the PDL's what I could (mine were all storefronts). It's been a slow process but things are getting better and I can sleep at night. Don't give these pdl's power over your life. Take your power back !!!