overwhelmed with payday loan

hey redpen, welcome to the site.

Town and Country Associates handle paydayloans and other creditors as well. Im not sure about where you live if they do it in your state. One of these reps here should be in contact with you soon to answer your questions. I must say that you came to the right spot for support, almost everyone here is either going through what you going through or has been there. Hang in there, it will get better.


james

A lot of companies will include payday loans in a program if you have credit card debt, too. But a lot more won't touch them. As far as I know Town & Country and Langhorne debt solutions are the only ones that have programs specific to payday loan problems. But Langhorne only does payday loans. If you have other kinds of debt, too, T&C is the way to go and they have a great reputation.

I just signed up today. I have so many questions, maybe someone could help me answer them. I would be very grateful.

-Does anyone have a website or phone number for Town & Country? I am swimming in both payday loans and credit card debt and need some serious help. Immediately.

-A more general question...how do I post a blog of my own? I know that there is an online journal that is part of this and I would like to share my story and my progress, but I can't figure out how to do it. One of those airhead moments...

Thanks

I'm bumping this because no one has PMed me with the info on T&C ... could someone please send this to me? Thanks!

I am going to also pm you the name of another company that will consolidate pdls storefront and internet. They do not require you to have credit card debt in addition to pdl debt.

I live in Texas and need some info on how to get out of payday loans I want to pay them off but I am running in circles, does anybody know if there are any condolidating companies in Texas or what the law is all of my pd loans are storefront

Ploof,
Welcome! First off, how many PDL's do you have, for how much and are they internet or storefront? And Redpen, I can tell you that most of the IPDL's you listed are not licensed in California. Definately make arrangements to payback what you LEGITIMATELY owe, but not a penny more. In the case of ameriloan, I can tell you that they will call you to death, but you have to make sure to send them a cease for communications via phone.

I have about 5 payday loans out i live in the state of nj. I have got to the point that i cant pay them what can i do

Mssmith1968, what are the names of the companies you're dealing with, how much did you borrow on each and how much have you paid back so far? Also, are these internet or store front loans?

tendollarpayday 300 (extend three time at 90 and now paying the fee plus 50
amerloan 250 (just paid the 75 extend fee have another one coming today.
loan shop 300 paid 45 exten fee
loan shop 300 paid 45 exte fee
cash direct express 300 paid 66 and today will be another 66 exten fee
xpresscash 300 have paid 90 exten fee for about 7 times

i have a about 5 out. i live in nj and internet loan
amerioan 250 (150)
tendollarpayday 300 (4 ext at 90 now paying 50 also
loan shop 300 (45 weekly
loan shop 300 (45 weekly
xpress 300 (90 for 180 a month for 3)
cashexpress 300 (66 twice )

need help have about 5 out in the state of nj i live

I live in Tn. and I'm in debt with 3 payday loan companies Payday Select,Payday Okay, and Payday One.I have been paying on these loans for at least 6 months.I borrowed 500,500,and 400.They have been taking a lot of money out of my account and I just can't afford it anymore!I can't figure out the laws in my state.HELP!

Mary - welcome to the site!

Here are the payday laws for Tennessee(just select your state),

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

What this law basically says is this:
-You cannot be arrested for defaulting on a payday loan - criminal action is prohibited (however civil action is possible if the lender is operating legally)

-You cannot have more than 3 loans out at one time (2 per licensed lender)

-The loans cannot be "renewed" or "rolled over" or consolidated - this means that any company allowing you to pay a finance charge in order to extend the loan is doing so in violation of your state law.

How much have you paid on each one? And are these internet or storefront loans?

Let us know that info, and one of us will be able to offer more advice. :D

(and as always, if someone feels I have made a mistake in the interpretation of the law, please speak up! :-))

Thank you so much suebeehoney70.All of these are inter net loans.I have given Pay Day OK 723.00 all together with 310.00 towards the principle.The rest is just the fees.I refinanced 3 times and there were fees.100.00,32.14,and 54.29.I got the loan 11/21/06.I have borrowed money from these people 3 times and paid each loan back. This is all the info I have right now but will be sending the rest shortly.Thank you so much!

I have the rest of my payday loan info.With Pay Day Select I borrowed 100.00 on 8/3/06,made a payment 46.36 on 9/6/06.I then increased my loan to 360.00 with fee of 23.14 which left me with 336.86.So far I've paid 1,130.31 with only 150.00 towards the principle.I refinanced 5 times with 1 other principle loan increase of 140.00 with fees of 69.43 which left me with 70.57.At this time I owe them 450.00.Also at this time I owe Pay Day One 496.00.They have refinanced me 7 times since my loan on 12/20/06.All together I have paid 776.00 with only 100.00 going towards the principle.This is coming out of my SS check,which is my only income.I had to borrow the money for a plumbing emergency.I'm wondering if I should have built an out house instead.I have 2 children to support as well.I can't believe I was that stupid!I have not defaulted on these loans and my payments are due in 3 days.ARE these companies in any trouble for refinancing in my state?I always thought you could not garnish a SS check,is that true in my case?Should I close my bank account before then and get a new one?I'm not trying to get out of paying my debt,but I simply can't afford to pay this much at a time.I bit off way more than I can chew.I would greatly appreciate any help anyone can give me.

I have 4 payday loans that I got over the internet. I live in the State of Tennessee. I am gotten the threats already from Bass & Asscociates...Thanks to your website after I freaked out I found it on the internet..I haven't sent them a dime but almost did. They have called all weekend, numbers are now all 0000000000's. I have been paying on all these loans every two weeks and I cant tell what I owe and what i Dont owe. All of there figures come back more than mine...
Midland Marketing Orig Loan $300.00 paying since Jan...now Bass & Associates wants 722.20 wired in 2 hours
United Loans - I was suppose to owe $195.00 now they tell me $280.00

Pay Day One $300.00, they told me I could pay $81.35 every payday and I wouldn't incur anymore charges...

Finally, Loan Shop or DMS Marketing I owe them $300.00 at 100.00 each for the next 3 months

CTC - Cash Transer $500.00 but now they say I owe $820.00.

I want to pay what is correct and half of these places have no addresses, I don't trust giving any of them money grams, debit cards, etc. If you can help me I would appreciate it. This has got me so upset I cant sleep , I am afraid they will continue to harass me at work. I did call the Attorney Generals office In Florida about Bass & Associates..they took my info .and they gave me another number to call and me to please report the information to Florida Department of Financial Services at 850-413-3037 so did.

Any suggestions

We need to know what state you are in and how much you have already paid to each pdl in so called fees

Hi! It's Mary again.I have found a lot of helpful info from this forum,but still need serious help.As I have explained I live in Tennessee.I am going to bank this morning and closing my accounts being that my payments are due in 2 days.I'm trying to find out how much I legally owe before I talk to any of these blood suckers. All of my loans are internet.Payday Select,Payday ONE,and Payday OK.All together I have paid Payday Select 1,130.30.My balance at this time is supposedly 450.00,with only 140.00 towards the principle.I have had this loan since 8/3/06,it started out as a 100.00 loan.On 9/6/06 I paid total of 45.36,10.00 towards the principle and the rest fees.On 9/30/06 Igot a loan increase of 336.00 with 23.14 taken out for fees.I have only one more principle increase of 140.00 with a fee of 69.43 taken out which left me with 70.57,on 3/5/07.I refinanced 5 times and the refinance fees total 588.74.I now understand that according to Tenn. state law that ipdl aren't suppose to refinance,not only that they don't even have a license to loan in this state.I feel like I have paid these people back plenty and then some!Should I demand my account be marked pif being that the Rf fees should have went towards the principle being that it was an illegal transaction and remind them they are in violation of 2 Tenn state laws?I'm not very good with percentages and all that so I'm a little confused on what I legally owe.Now for Pay day one.I took out this loan 12/20/2006 for 500.00.The total amount I've paid so far is $776.00 with 100 towards the principle I have refinanced with them 6 times(which should have went towards the principle)totaling 456.00.Should I also remind them they have violated 2 Tenn. state laws and ask for pm arrangements.Like I said I'm not sure what I legally owe but with them I'm sure it's something.Now for Payday OK. I have borrowed from them in the past three times and paid them back quickly.No such luck this time.I borrowed 450.00 on 11/21/2006.I still owe 450.00.I have paid a total of 723.00 with 1 principle increase of 180.00 with a fee of 54.86 leaving me with 125.14.I refinanced 3 times totaling 186.00.After my accounts are closed I don't want to talk to any of these people to try and make arrangements until I'm sure about what I legally owe.It's All been so confusing.I have already prepared myself for the harassing phone calls and the emails I'll receive.All of this has been coming out of my Social Security check.I'm a single mother with 2 children and that is all the income we have right now.It is breaking me and I just can't pay it anymore.I'm late on all my bills by 2 months and my children and I are on the verge of being homeless.If someone could please help answer some of my questions I would really,really appreciate it.This forum is a god send!

Mary -

Take a deep breath - it's all going to work out ok.

It seems like it's pretty confusing, and at times, it can be, when there are multiple loans involved.

I think the easiest way for you to figure out what you owe on these loans is to sit down and make a list of the money you borrowed from each lender, and then calculate the interest allowed by your state. Don't figure in any rollover or renewal fees, because they aren't allowed in your state. Base your figures on just the amount borrowed and the interest. (TN allows 15% of the loan amount or $30 - whichever is less.) Obviously, if you added money to the amount borrowed by increasing the principal, you need to figure that in as well.

Now, once you have those figures down, take the amount you paid each one, and draft a letter to each lender. Include the following in the letter:

-Tell them you are revoking the ACH authorization on your bank account.

-Quote the state law for TN, including interest rate, no rollovers allowed, etc.

-Advise the lender of the amount you borrowed (principal) and the amount you have paid so far (including any fees, etc.)

-Advise the lender that you want this loan to be marked paid in full, and are requesting a refund of the overpayment, based on the fact that you have already overpaid according to the law in your state. (Of course, this only applies to the ones you've overpaid on)

-For any loans you may still owe principal and state-allowed interest on, advise the lender of the amount you still owe, according to your state law, and that you intend to pay that amount. (Include it with the letter in the form of a money order if possible.)

-Don't make threats or try to be intimidating in the letters - just state the facts. The company is violating your state law. You have overpaid. You want to be marked paid in full because you have overpaid according to your state law. You are revoking their authorization to debit your bank account. And they need to communicate with you in writing via e-mail or postal - no phone calls.

Send the letters certified mail, return receipt requested, so you know they've received them. You will probably encounter a little battle with some of them - that's to be expected. But if you stick to your guns and keep reminding them of your state law, you will eventually come out on top.

To add to what Suebee said, you might want to add in there that you are revoking any wage assignment and revoking your authorization to contact your place of employment and your employer, along with any references.

If you want to get a head start with these letters, you can send them via email and then send them certified with return receipt. That will just get things going a little quicker.

Als be prepared for any phone calls you might get and stay strong! :wink:

Governing Law: By obtaining this loan and or renewal of this loan thereafter, both parties agree that this Note and your account shall be governed by all applicable federal laws and all laws of the jurisdiction in which the Lender is located, regardless of which state you may reside, and you consent to the exclusive exercise of regulatory and judicial authority by the jurisdiction in which the Lender is located over all matters related to this Note and your account, forsaking any other jurisdiction which either party may claim by virtue of residency.

this is what one of my loans say from tendollarpaydayloan.com

Hello

Can anyone tell what the laws are for Maryland concering Payday Loans

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

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


Lucky, could you tell us what companies you are dealing with and how much you have borrowed? How much have you repaid? This information will allow us to help you further! I am not sure what this Consumer Loan Act would mean as far as a payday loan but I am sure someone else will be along soon to give more input.

Can you please define the law for Wisconsin Payday Loans? I have many payday loans and keep digging a bigger hole of debt. I have read some of the other postings that suggest closing your checking account and making payment arrangements with the lenders. Is this legal? I want to pay the loans off, I just cannot continue paying the finance fees and continously rolling them over. Help!!

Can anyone give me advise on the laws in Florida. I too have been caught up in the web on internet loans. Right now I have 10(I didnt even realize I had taken out this many) loans out and its killing me, there going into my account on days they know are not my paydays and my bank is killing me with fees because the money is not there, any help is greatly appricated.
The companies I used are
paydayloan-yes-260.00(extend 3 times at $60 each time)

e-paydayloan- 260.00(extend 3 times at $60 each time)

loanshoponline-$260.00 (extend 3 times at $60 each time)

loanpointusa-$260.00 (extend 4 times at $60 each time)

intermcash-$300-(extended 4 times at $60 each time)

Quickest-Cash-Advance-$300((no longer extending account in default)

usapaydayloan-$300((no longer extending account in default)

unitedcashloans-$480(no longer extending account in default)

applefastcash-$300(extended 3 times at $90 each time)

InstantCash911-$400(extended 2 times at $120 each time)

Quote:

Thanks Kashzan for the response, but what exactly does this mean. and what steps can I take to get out of this giant hole that I dug myself into

I need help paying my payday loans

I need help paying my payday loans