Payday Loan Nightmare

You need to check and see if these companies are licensed in your state first, but chances are they are not, since they are IPDL's. Based on what you've paid, it looks like you have paid them off. I would demand that your accounts be marked paid in full, since you have more than paid back the balances of the loans and if they are not, then report these companies to your State's Attorney General's office.

Vince, what state are you in? If you could post your state, someone will post your state laws regarding payday loans. Some states they are actually illegal. Some states they are legal. If you tell what state you're in, it would help figure out how much you legally owe to these pdl's. I do believe that you've overpaid your loans by quite a few dollars. Once you get your state laws regarding pdl's, you can figure out how much you legally owe. You'll probably be surprised at how much you've overpaid. Then you can tackle the pdl's about a refund. However, have you read much here on the forum? You might want to thing about your bank account. The first advice I received on here was to close my bank account so that these pdl's can't take anymore of your money. I closed my account and then went to town sending out my pdl letters and filing complaints. But first thing first. Post what state you are in and we can go from there. There's a TON of very knowledgeable people on here to help you. Then close your bank account and reopen a new one at a totally different bank. This way you can keep your paycheck and these people can't debit money from you anymore. I just have a feeling you've overpaid. Only my opinion. There are many on here to help.

How do I find out if a PDL is licensed in my state?

http://www.paydayloaninfo.org/

This is a very useful website where you can find out the laws and regulations regarding pdls in your state, and there is a licensee search you can conduct to find out if these are licensed in your state. But like cannr stated, it's would be very helpful to know what state you are residing?

From my experience with Payday Select, they are very accomodating if you inform them of your laws in your state, educate yourself here on this site and you will not believe how willing they are to mark your account "paid in full", especially since you have already paid quite a bit,, I have noticed that some of the PDL have reported me to Chexsystems and I believe Teletrack (I cannot get anymore PDL's and I really don't care) they however have not shown up on my credit report and they discontinued contacting me,, I am one of the fortunate ones, I did hound them all over and over again,, always via email because I did not want them to threaten or harrass me and one by one they have almost all went away. Worth a try!

Could someone please post Texas pdl laws for vince? Also maybe we could help him figure out how much he has paid each one of his pdl's. Thanks to anyone who can post it for us!

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

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

Thank you, fedupinpa! That's the first step, Vince. You need to figure out how much you borrowed and then how much you've paid TOTAL on each of your loans. Then figure how much you legally owe each one according to your state laws. Post on here and let us know. Someone can help you if you need assistance figuring out the legal amounts owed. It's kind of confusing trying to figure it out!

Cashnet USA is going to be legally lending in your state, so you will want to try to set up payment arrangements with them. They also usually follow the state laws.

Payday Select isn't likely to be licensed.

Please help me & Vince. In Texas, apparently pdl's are legal. I read the state laws & I'm certainly no expert. So help is needed to figure actual amounts. On CashNetUSA - loan amount was $450.00. Total amount paid thus far is $425.22. In my calculations (which are probably wrong!) is it $450 plus $12 per $100 plus $10 per loan? If that's the case, I'm coming up with Vince owing CashNetUSA $532.00 - which he has already paid $425.22 so far. On PayDaySelect - loan amount was $500.00. Total amount paid thus far is $623.91. In my calculations (which are probably wrong again!) is it $500 plus $12 per $100 plus $10 per loan? If that's the case, I'm coming up with Vince overpaying PayDaySelect by $53.91 - since he paid $623.91 on it thus far. HOWEVER - do take into consideration that I am not a math wizard & find the pdl laws and amounts to be confusing when they're legal! (I'm used to them being illegal!) I did note that rollovers are not permitted. Can someone with Texas knowledge help here? Or maybe someone who can calculate this correctly? Like I said, I don't claim to be an expert! Any help is appreciated!

Can someone please help regarding the above post? Someone with some knowledge on how to calculate what Vince legally owes according to Texas laws? I can not say that my calculations are correct & he needs this info. to begin sending out his pdl letters. Any and all help is appreciated! We just want to be sure the amounts are correct before putting anything in writing! Thank you!

Question first - Has Cashnet USA been rolling over your loan? Or do they make you pay it off and then reloan you the money? That will make a big difference in the calculations.

I also need to look into something . . . Cashnet USA has a note on thier website that says they aren't the lender, that they go through a thrid party to get you the loan. And it looks like they aren't following the laws for TX, which is wierd because they follow the laws in all the other states they lend in. I'm going to see if I can figure out why this is going on in Texas . . .

CashNet has been rolling over because only $100 has been applied towards the principle from the total amount he's paid them, which is over $400?????

i had some finacle problems and i had to get a PDL well i kept haveing more problems and kept coming short on my paydays so i kept takeing out more loans i have 4 now and i don't know what i'm going to do when payday comes around, i don't wanna be forced to keep takeing more pdls. I'm in the military, and i am staioned in florida, but my state of legal residence is indiana, if that helps

I also have loans up the wall and payday select and cnu. I have talked with them and cut a deal. After not being able to pay them off, they end up cutting you a deal to pay a settlement amount less than what you borrowed. This is how I have paid most of my loans off.