Need advice to stop the PDL cycle NOW!!!

My first piece of advice would be go to http://www.paydayloaninfo.org and look up your state laws on payday lending. You have two thats going to be trouble. The storefront you can make arrangements with. Cashcall is a different story. This is an installment loan that is backed by a bank with crazy interest. I would try and file a complaint with your Attorney Generals office sometimes they are sucessful in mediating these issues. KYSIDE38

thank you for responding. I really like this forum and feel compelled to go after these losers. Yes, they serve a purpose for a time in need which is why I took the bait, however, this is absolutely rediculous. I don't mind paying cashcall right now because they are reporting on my credit. However, the other mistakes that I made have just got to go. I actually make good money, but just got caught in the cycle and I feel like I am on the spin cycle. I can pay them all of in full in September when I recieve my annual bonus, however, right now, my life is deteoriating because of these jerks. Do you think that I shoule close my bank account? What do I tell the one storefront pdl?

Tell the store front pdl your situation and have a plan in mind for an arrangement when you talk to them. Most of them will agree to a payment plan as long as they get at least $100- $200 a month in payments. But they will have to put your check through and get it back nsf. Then the interest usually stops and all payments made to them will bring down the amount owed on the loan. They will tack on a late fee and a nsf fee. But an extra $25 to stop the interest is ok in my book :wink:

Listen to kyside to help you with the ones that are going to give you some trouble. Everything will be ok it just takes time.

you all are awesome. I didn't know that there are so many people in this situation. Thank you all. I can work out a deal with the store front and if for some reason I can't, do I just take the stubborn road with them as well? I really do feel that the best thing is to just close my account and start over and then deal with these theives. However, I will say that it is a little scary and I just want to be sure that I am making the best decision.

You don't want to take the stubborn road with the store front. Because they are licensed in your state and they can and sometimes will take you to court. Not always because it is cheaper for them to settle with arrangements than to go to court.

Who is your store front with? Like check n go or advance amarica?

I made that decision a month ago. Your right it is scary...but after reading here you must feel what is scarrier is the fact that these internet pdls have controlled us for so long!! The store front you will have to work with...make arrangements according to law because I believe they are licensed and will persue the matter. The ipdls..you can send letters to cease and desist..and revoke the power you gave them.
Track your bank statements and figure for each one what you borrowed and exactly what payments for each you have made. You can compare that to your state laws and know where you stand. Just keep asking everyone here questions...we have all been there!!

the store front is Fast Bucks. I already have arrangement with Dollar Loan Center in Las Vegas, NV. They sent me to collections, and I proved to them that I had paid them 4 times over. They actually gave me my money back in my account. I am hoping that Fast Bucks will do the same. Even if they don't, I don't care. I already have a bankruptcy, that I filed due to trusting my best friend years ago on a business partnership, before the laws changed, so that is an option that is gone. My SF is with fast bucks. Should I just say screw it and deal with the stupid collection agency they assign me to and then deal with them?

I would first find out what they do for defaulted pdl's. I am sorry I have never heard of them. You can wait and see, but what happens if they go the court route? I know with my check n go they sent me over to a collection agency and it is not a very good one either (as I have read on here) Those are your options, but deal with the licensed ones first, let the internet ones sit until you have the money.

Puddljmpr is right. You should work out arrangements with the licensed storefronts and stick to them. The internet payday loans are unlicensed, they can bark, shout, scream, and yell all types of threats that can seem scary at the time, but you will need some tough skin and need to realize they are not going to arrest you. Most important to deal with are the licensed storefronts. And file complaints with your Attorney General's Office against the internet pdls.

Thank you for the advice. I feel that I can make arrangements with the stpdl's. Would it be the popular sensus to close my bank account and make arranements with all those involved and deal with whatever comes my way. I am going to add up all the finance charges and check with the state regulations. I can see that I am not alone and that others have been here in my same situation. So, do I close my account and make deals, or do I continue the cycle for a few months and pay them off when I get my bonus. Personaly, I can't take this anymore, it's clouding my judgement at work, play, homelife etc. etc. etc. I don't want to lose my loved ones just because I really tried to do a good thing in a time of tragedy.

by the way the CA is Clark County Collection agency that that I have been dealing with for the Dollar Loan Center. Has anyone dealt with this company before?

I have another ?. It may sound stupid, but when you are all talking about what you have paid back, does this mean what you have paid in finance charges on the loan or above and beyond that?

Closing your account may not be a good idea. Check your state laws closely before you proceed.

As you've read in the above posts, deal with your store front first. They are operating legally. If you close your account and they try to put your check through, you could get into trouble. I have spoken with a manager at a store front that I use. I've asked him what happens if you can't pick your check up. His words to me were that communication is the key. If you call or walk in there and explain you do not have the money to pick the check up, they will 99% of the time work with you on payments. He said they have other alternatives also. One is to send you to collections, where they will charge you a fee on top of what you owe the store front. The other is some send you to a lawyer. Which then is the cost of the store front loan, fees, and the attorney fees. However, keep in mind. His words were COMMUNICATION IS THE KEY. He told me that he and 99% of his "competitors" will work with you. They will hold your check - stop the fees - and you make payments each week or two weeks or whatever. He said that some people only come in and pay $25 a week or $50 a week depending. They just want their money back. So, my advice (and it's just my advice) is don't close the account until you've spoken with your store front. Once you get a plan with them and they accept payments from you weekly/biweekly, then close your account. The internet loans are sooooooo totally ruthless. They'll eat you alive. So you need to get rid of them. But, please first try to get a payment option with your store front. Screw the internet ones. They can wait. But the quicker you communicate with your store front (lie, whatever, tell them you lost your job, who cares) and get a payment plan set up and they won't send your check through, the quicker you can close that bank account so your internet pdl's don't suck you dry.

Thank you so much! I will negotiate with the store front tomorrow ASAP. I will keep you all posted. I say down with these pdl's. Thank you once again. I will keep you all posted tomorrow. Have a great 4th of July.