payday loan debt

Are these internet or storefront payday loans, there is a difference in how to approach the situation, depending upon which type of payday loans you have outstanding. There is hope if you could just share a little more info. and what the names of the companies are and what state you are in. The laws vary from state to state.

welcome to the forum. Can you give us more info? What state are you in? Are your pdls storefront or internet and how much and how long have you been paying on them?

im in illinois, and all 12 are internet loans.

Below is the link to Illinois payday loan laws. No roll overs are permitted, and since these are internet payday loans, then there is a strong chance none of them are licensed. And Illinois prohibits criminal prosecution on defaulted payday loans, so if any of these companies threaten you with arrest, don't worry, just laugh at them, they can not have you arrested for defaulting on an unsecured loan. The threats will sound real and scary, but they are all lies. Just know that.
http://www.paydayloaninfo.org/state_detail.cfm?id=IL

i have 12 and with the exception of 2 everyone else

has had at least 3 debits on my account. IN FACT

1 company americash i paid 50.00 into a 200.00
principal. cashnet 500 been there done that.
in fact they and 4 others i hold responsible for my
current situation.

here is more info

aip 200.00 89.00 int none paid
ameriloan 200.00 410.00 int plus 50.00 pcpl pd
usfastcash 200.00 240.00 int paid
gecc 325.00 389.00 int paid
gfs 150.00 290.00 int paid
money by now 300.00 225.00 int paid
padyday srvc 275.00 169.00 int paid
cashnet500 350.00 230.00 int paid in 2 weeks
paycheck now 100.00 25.00 int paid
eastside lending 300.00 90.00 int paid
arrowhead inv 200.00 60.00 int paid
second wallett 300.00 90.00 int paid
thats all of them what do you think?

You may be able to settle the two that you have paid above the principal on your own. Feel free to use the letter on my blog to do so. For the others I would strongly recommend consulting with a debt counselor/negotiator. You are in pretty deep.

Definitely....I am working with a debt management plan and included the 2 pdls I had they were not paid in full on the origianal amount. The other 7 I am fighting on my own. I also included credit card debt and medical bills in my dmp so I now make 1 monthly payment.

I read some of the information posted on this web site and wanted to share the following letter with you.

The Better Business Bureau has received a response from the business regarding your complaint. Please review their response to your original complaint and advise us of your position in the matter by July 6, 2007 .



The details of the complaint (including the business' response) are included on the reverse, attached or have been forwarded to you by the business. Please be sure to indicate whether the company's response is satisfactory or not within ten (10) days.



If the Bureau does not receive a response, your complaint will close as Assumed Satisfied.

We have reviewed the account belonging to Ms. Martinez. We believe all the terms and conditions of this loan have been met on our end, however, she chose to revoke authorization with her bank against our debits for repayment that she had previously authorized. To date, she has paid all but $20.00 of her initial balance and her account is ready to be sent to an outside collection agency for handling. However, we do believe it to be in the best interest of this customer to write off the balance of this account and close the account. We will consider this matter closed unless we hear from you.

Thank you for your time and consideration in this matter.

Respectfully,

Compliance Department

Thank you guys, I can't believe that they say I still owed them $20.00.

Anyway One down three to go!

Congratulations! I am glad the BBB was able to assist you in getting these people off your back :):) Hopefully the other 3 will be easy!

Conradulations I am glad the BBB was able to help. Keep up the good work. Kyside38

I have a question. What pdl was this that you got the BBB response from? I'm curious. I'm sure you OVERpaid your loan even though they stated you still owed $20. They're all nuts. But I'm just curious as to which pdl responded in this way. I'm hoping it might be one I'm fighting with. Probably no such luck, but just asking!

I have two of these but they are the ones that you pay a interest payment every check and they go on for 2-3 yrs until you have paid an ungodly amount total. I am in Texas but one is from a bank in Delaware. Any advice? Thanks.

Stop borrowing from them, get a part-time job and pay them off. Read or listen to Dave Ramsey.

i had 10 and now have none. i'v paid off my 2 1/2 year nightmare of revolving loans. my program took me about 3 and 1/2 months but i'm better off. i'v started a business and charge to help small and local businesses. i can send you my book "how to get out of terrible debt" for $30.00 check or money order to florainternational. 2534 circlewood dr. chesapeake virgiinia 23323. if you want an e-book e-mailed to you upon clearing of your check i can make arrangements there is a chapter dedicated to getting out of the rut. i cleard 10 payday loans and I am so happy now you don't even know

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