Newbie here with payday loan problems

First things first, no you cannot get into a kind of CRIMINAL legal trouble. They(the companies)will try to threaten you with arrest but none of those comapnies are liscensed in OH so therefore they should not be lending in OH. Secondly, they are very difficult to make arrangments with. But most importantly: You need to get your control back over your finances before you get in the situation i was in. So my advice to you, if you are willing to deal with the harrassment of it all, close that account and open a new one and then send letters to each company stating your intentions. Eventually you will be so ate up in fees that you wont be able to pay your rent or buy food!

It's good to know I can not get arrested. whew!

I think I will close my account this weekend and open a new one. I really don't have another choice. I know I will start getting calls, emails, etc once I'm in default.
Will it take long for them to start calling my references or employer.
I am most concerned with them calling my boss. Especially since I work in the finance department, and it looks bad on me to even take out a payday loan (let alone 7 of them). When/if they call someone other than myself, can they give out information about what they are calling for?

send a letter to all of them revoking any wage assignments that you have with them. you really should go to your boss and explain the situation without going into details like how many and who. This is just in case they do send a wage assignmenet to him. He does not have any legal obligation to honor it. It is not the same as garnishment. It is strictly voluntary.
You may here things like "we are sending the police to your job if you don't wire us the money within an hour." No they are not. Its all a bunch of nonsense. Just laugh at them. They can't get real jobs like you have.

Thanks Leah and frogpatch.
It really gives me peace of mind to know there is going to be a way to pay these off without going bankrupt first.

Thanks Again!

You will be better if you pay off the principal amount and the fees mentioned in your state. Call the companies and propose your plan. It's important that you work out the arrangements and stick to the plan. They won't be a problem if you are trying to pay back. Here are the laws in Ohio (just select your state),

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

You do of course have to pay them what you legally owe them as asciotf stated. Just don't let them bleed you dry.

And be prepared for these threats to be possibly made:

If you don't cough up the cash in 1 hour, 25 people will come to your house to arrest you.
Your boss will be called and they will try and have you fired.
You will be "downloaded" or "uploaded".
Your kids will be taken away.

Any more I have missed? (And these are all garbage, btw...)

They have had me watching for the police to arrest me. It has gotten so bad that I am having anxiety attacks...They call me with case numbers and I actually did run to Western Union money because they said that they were going to have a warrent issued for my arrest. When i asked if I should maybe take the money to the courthouse they got pushy with me and asked did I want them to help me or not? I have been in mortal fear ever since..... What can they do?

Jo, they CAN NOT do ANYTHING to you. They are making illegal threats, and they are spouting off false case numbers that do not exist. PERIOD. Do not run to Western Union, Quick Collect, Money Gram, or any where else to pay them a dime. And you can STOP watching for the police to come and get you. The police do not have a warrant for your arrest, and they are not going to have one. You need to file complaints with your Attorney General's office against each company that did this to you. I hope this helps lessen your anxiety and the attacks stop. Most of us have been through this with the same false threats. YOU ARE NOT GOING TO BE ARRESTED. :D

J0, please do not have any more anxiety attacks. You cannot be arrested for defaulting on pdls and there is no debtor's prison. Many of these places are operating illegally and you really called their bluff in saying you should take the money to the courthouse. :) See how defensive they got? Do not let these places scare you like that. Pay what you legally owe them and nothing more. There is no need for you to be in mortal fear.

I know that it makes me sound crazy. Really, I am not. It just hurts to be in debt and wonder how you will pay it all and you do not even have a job right now. I am looking and I know everything will be okay eventually!!

'Jo, please listen to these people! Don''t take any more payments to Money Gram, Western Union, etc. They are lying to you. Of course they''re lying to you. They are also breaking your laws and stealing your money. I had one of my pdl''s call from the UK and tell me to Money Gram him $100. Did I send him the money? No. Am I in jail? No. I''m sitting in my house trying to help others! Nothing horrible happened to me. The most horrible thing that happened was the UK idiot called and wanted to know where "his" money was. Did I answer the call? No. He just left a voice message. Did I care? No. As I said, I''m not in jail. I''m sitting here at home. They can not "get" you. You''re fine. Do not have any more anxiety attacks! :D')

JO, it does not make you sound crazy. Please don't say that. We have all been there. You are right, all is going to be ok. :)

You have all made me feel sooooo much better!! I may sit in the daylight now. This is the first time I have even seen this site. I plan to visit regularly. Have a great day!! :)

Please visit often Jo and keep us up to date on your progress and post your experiences to help others! :D

I was just curious how everyone else dealing with pdl's were able to set up payment plans? Did you send each company a tiny amount monthly or pay off at a quicker rate one at a time? If one at a time, do I just ignore the ones I'm unable to payback for now?

My info again....
PayDayOK 500.00 borrowed/ 261.00 paid
WebPayDay 400.00 borrowed / 360.00 paid
NetCashUSA 400.00 borrowed / 360.00 paid
OneClickCash 300.00 borrowed / 180.00 paid
ameriloan 300.00 borrowed / 270.00 paid
CashDoctors 300.00 borrowed / 450.00 paid
First Bank of Delaware (purposeLoans) 300.00 borrowed / 62.64 paid

I would pay the legal ones first . . . They are the ones that can actually collect against you, so they are the ones to deal with first. The unlicensed, illegal ones can't do jack to collect, so they can get paid last.

I know that Purpose Loans is backed by the First Bank of Deleware. Since they are backed by a bank, they must be treated a bit differently then the other pdl's. When a pdl is backed by an FDIC insured bank, they can legally import the interest rates from the state the bank is located. In this case, DE, because there is no cap. I would throw as much money as you can at this loan to get it gone asap, as the interest is legal and will cost a ton if you only pay the min.

All the other loans I'd bet are not licensed in your state. Once you have Purpose Loans paid off, then you can send payments to the ones you still owe money to. Cash Doctors is already paid off, so don't pay them another dime.

Yes, I actually spoke to Purpose Loans yesterday on the phone. I have not yet defaulted on this account. They called me because I sent the revocation of ACH withdrawl letter to them. I let them know it was only because that account was being closed and I have a new bank account.
They asked if I would fax them a copy of a voided check from my new account. Because they are backed by a bank, do I pay ALL the interest then? They are supposed to take 62.64 every 2 weeks for a total of 10 payments ($626.40 on a 300.00 loan).
If this is the case I will give them my new bank info (ONLY them). By doing this can other PDL's find my new information?

Yes all the other PDL's are NOT licensed in OHIO. I plan to set up payments to pay the principle and legal amount of interest, it just may take more time than they are going to like, since I probably have to pay back my bank that is now 1100.00 negative due to these companies ACH withdrawls after trying to 'close' my account.

That threat about being "downloaded or uploaded" cracks me up everytime I read it. What the heck is it suppose to mean. "Whatever you do please I beg you don't download me. If you want to upload me go right ahead because I prefer to be uploaded."

Anyway ignore the threats. Worse case scenario you might get a summons to small claims court eventually but it is highly unlikely over a 300 dollar loan. Do your best to pay what you owe according to your state laws.

If you were to pay off the loan early, you wouldn't owe all the interest. If you were to continue on making the payments of $62.64, then you'd end up paying off all the interest. So if you can pay them more then $62.64 every two weeks, you will pay off the loan early and not owe so much interest. The rate is calculated over the 20 week period, and spread out evenly. So if you were to pay off the loan after say, 8 weeks, you would not be responsible for the other 12 weeks of interest. So the sooner you can pay it off, the better.

I wouldn't risk giving them your new bank info. They will accept MO's. Pay that way just to be on the safe side.

How do i find out which loans are legal in Alabama? Is there a certain website? Thanks, again