Payday loans have ruined my life. Is there a way out?

First, take a breath and calm down.

Payday lenders cannot have you arrested for "theft by check"...that's a threat they like to throw around.

If you can take a moment to list the following information for us, we can help you out of the neverending cycle of payday lending:

-state you live in (Texas, right?)
-names of the payday lenders you are dealing with
-whether each lender is a storefront or internet lender
-how much you borrowed from each one (no fees or interest included)
-how much you have repaid to each one (everything you have paid, including interest and fees)

Armed with this information, we can give you some solid advice, based on your state payday lending law, to help you get out of this.

Also, if you still have the contracts, please look on the contracts to see if any of the lenders are acting as CSO's, or Credit Service Organizations. They follow different laws then normal pdl's . . ..

Wow, you really hit home on your story. I was in your situation last Dec. when I got a call that scared the crap outta me and I was looking for my rights. Then I found this place. Well all I can say is you came to the right place. They helped me get my paychecks back and I am less stressed and found a wonderful bank ontop of all that. So gather all your info that was requested, post it and we can walk you through the steps to get out of the payday loan cycle. Now just remember it took you awhile to get into this situation, It will take some fighting and some time to get out of this situation. But with the group here you can vent, cry or whatever you need and we will be here to support you all the way :)

Everyone on this site is very supportive. I have been in your shoes just recently. I am starting to get back on my feet, but when I first came to this site I was feeling completely hopeless. Thanks to Cannr and Goudah and EVERYONE ELSE on this site I felt better about my situation and had hope again. It does not get better immediately you are still going to have some tight weeks ahead while you are working your way out of this cycle, but you will feel much better because you know you are working your way into a better situation.

Lotta, Please stay with us, and post the info that Sue asked for. We have been where you are, and there is a way out of your mess. Hang in there and be strong, we can help.

Lotta - stay strong - these wonderful people came to my rescue also. I am on the verge of getting mine cleared up. I only had two of them - but to my surprise they are illegal in my state. Post your info and they can assist you like they did me.

They wonderful people!!!!!!!

Lotta. It's going to be fine. I was in the pdl cycle just a few months ago. It was AMAZING how good it felt to take back control of my hard earned money. You CAN and WILL get back in control. It started the second you reached out for help. We are all here for you. :-)

I have some advise as I am in a bad situation currently, I have 11 payday loans and am paying $2,200.00 a month in interest - which has really finally caught up with me. Usual mortgage falling behind, car payment etc. . . I finally said enough - and decided to do something about it - I was not going to keep paying the interest (going on for years - not at this amount but quite high) - So I first contacted the loan co's who are CFSA members - they offer a program that allows you to pay down the loan balance over 4 paychecks - stopping the interest charges. So the remaining co's I called also and told them I just can't go on - just paying the interest anymore and would like to work something out - 99 percent of them allowed me to do the 3 or 4 payment plan stopping the interest charges. It's worth the call! they are more understanding than you may think.

jeff, I'm am really glad you had good luck and posted your experience. It will help others. It's just too bad that not all companies are like this. There are "main ones" that are horrible. There are companies that continue to use illegal tactics. There are companies that harrass. If they were all easy to work with, we probably wouldn't have to have a forum like this. That would be nice. I'm glad you had good luck. And I'm glad you posted. It gives hope to others. :D

Alright, who scared 'lotta' off? Was it me? :D

NAH, It was probably me.

Actually, I'm getting paranoid. I think I'm scaring people off! lotta, less, grd.... etc. I'm getting a complex here. :shock:

Ok kids, I confess. It was me who scared Lotta off, It was me who took 49.95 out of yiur account, and it was me that pretended I was a Nigerian trying to steal your money

You did not scare me off. You were the first to jump in and help me. I will be eternally grateful to you Cannr. I juist wish I had found this site and all of you before I got inot trouble.

pyb, now that you're here, you won't be alone! That's always good to know! :D

I'm sorry guys. Yall did not scare me off. I just took yesterday off from the computer and did other things to keep my mind off my situation. I thought I did reply to all the questions Sue asked, but I guess I didn't do it right? I wonder what happened to what I sent or thought I sent. I'll have to gather the info back up and post it again. Please be patient with me, I'm new to this and I have a very short attention span so my mind wonders off in other directions and I lose focus of what I'm supposed to do.

lotta! :D So glad you're back! Can you tell we were concerned? Okay. You've hit home with me, I can tell you that. If it wasn't for my two dogs, I would absolutely die. And picturing you rolling money to buy them some food makes me cry. We are in full force ready to help you. I'll be damned if an illegal company is going to take food out of your dogs mouths. We know you are in Texas. We know you have 8 pdl's out right now. Are they store front loans? Or are they internet loans? Big difference. So what you just need to post is what pdl's you are dealing with, if they are store front or internet, how much you borrowed from each one (principle only) and how much you have paid back total so far (do not break it down into "fees" - just the total paid back so far). We are more than happy to help you. And, like I said, no one is going to get away with taking food away from your little chihuahuas. Not if I have anything to do with it. :?

Lotta - Please post the info Cannr requested whenever you have time. Then we can figure out the best plan of attack for you. We've all been in your shoes, and know what you are going through. We also managed to claw our way out, or are in the process of doing so. We can do the same for you!

I'm a dog lover too! These pdl's taking food out of your poor babies mouths makes me sick too! This is going to stop asap!

All the loans are storefront except for one is internet and it's with the Loan Shop for $100 which I just got about a week ago.
I can't really tell how much I've paid because most of them I would redo the loan and take more out to pay on another or when I had extra money I'd pay the whole loan and then take out less than I borrowed before because someone told me it works out to paying less than if you just pay interest plus some of the principle. But, I can list you what storefront's I have loans with and tell you how much I borrowed:

The Cash Store $400.00
Advance America $300.00
Purpose Money $200.00
First Cash Advance $120.00
Check N Go $400.00
Payday Advance $300.00 (I'm not really sure how much I borrowed because they don't have you write a check, they just take a blank check and then give it back to you and say it's okay to use that check? And I renewed the loan there once and they didn't have me pay off the original or pay anything on it, they just advanced me more money and then I owed more next time.)

All of these companies allow rollovers except Advance America.

I'm sorry I don't have all the info you need, but like I said, I destroyed all the paperwork so my boyfriend wouldn't find them. I guess he'll find out soon enough since all of them are due this weekend and I won't have the money to pay so they'll be calling the house while he's here. The Cash Store was due on sept.7, I called them and told them I didn't have the money and asked if I could work something out and they wouldn't. I owe them $481.79, but that's after I renewed a $120 loan several times and then paid it off to get the $400.00 to pay my house. I'm not trying to get out of paying what I owe, I just can't pay on their terms and I can't pay all of them at once. I admit I was stupid for getting in this mess, but at the time, I needed money , had no other way to get it, and I thought I could pay it back.

Okay, lotta. Here's the deal. Your pdl's are storefront (with the exception of Loan Shop - who is not legal). Store fronts are licensed/legal. Store fronts almost always abide by the state pdl law or else they would get their license yanked. So, with that said, we need to do something here. I looked at your state pdl law (which I am going to post so you can see it also). It does state that rollovers/extensions are not permitted. I'm not sure if that's what they're doing with your checks. Also, the one store front that takes a "blank" check??? That one, to me, is questionable. However, I am not a Texas expert. I have never heard of a store front taking a "blank" check. To me, it sounds wrong. What would they turn in to the bank if you never went to pick it up and renew your loan? A "blank" check? A signed "blank" check that they can write any amount they want to on it?? I have a problem with that one right there. Also, on your state pdl law, it does not specify "criminal action", so I don't know what the result would be if you were to close your bank account and let the pdl's turn your checks in and have them returned NSF. Some state pdl laws say that criminal action can be taken if you close your account or put a stop payment while you have checks out. Your state does not specify anything. Here is what I need for you to do to see what exactly would happen to you in your situation. On your state pdl law that I'm posting, it has contact information to call and ask questions. Call them. Do not be afraid to call them and ask questions. Believe me, people do it all the time. You will not be the first, and I'm sure they've heard it all. Ask them specifically what would happen if you have checks out at store fronts and the money was not in the bank to cover the checks. What action could be taken? Ask them what would happen if you closed your bank account (tell them due to fraudulent activity) and had checks out with store fronts. What action could be taken? We need to know exactly what could happen to you. A lot of state pdl law specifies "criminal action prohibited". I wish yours did, but it does not. So, don't take any action yet regarding your bank account. You need to call the contact person/telephone number on your state pdl law and ask these questions and get answers. If you will not get into any kind of trouble, you may be able to close the account. You may be able to have them turn the checks in (I'm still concerned with the "blank" check) and have them returned NSF. But we need to know the answers before we can do anything further. Please call this telephone number and ask these questions. We do not want you to get into any trouble at all. Once you have called (and do it asap), please post what their reply was and we can go from there.

Texas State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I've already closed my acct.this past Friday due to fraudulent activity and I was afraid there would be more so I closed my acct.
I don't understand the blank check thing either. The lady had me tear a check out which she made a copy of or scanned or whatever and then gave it back to me and told me I could still use it somewhere else. I didn't sign it or anything. I think she even wrote void on the copy, but I'm not sure. This stuff is all so mind boggling that I can't even think straight. I wish I'd never gotten myself into this mess.

lotta, okay, the blank check pdl lady has me scratching my head. What the hell? How much is the loan for then? Whatever they decide? Did you sign any documents? If so, was there an amount on there? I've never heard of a store front doing this in my life. However, you've already closed your checking account. Okay. Now we need the answer to what is the legal recourse of a pdl if they turn your checks in and the account is closed. Can they prosecute. That's the question we need an answer to. Because there is no turning back now. You've already closed the account. Your state law does not specify what can happen to you if you have pdl checks out. We need to know what can happen. It might be something like "nothing" - along the lines of, it'll get returned and the store front will contact you and you can make payments. Or it could be that the store fronts can turn you over to collections - you can still make payments. Or it could be that the store fronts can turn you over to an attorney and then you'll be charged with attorney fees on top of the check amount. It could also be that they may (and I'm not trying to scare you) be able to prosecute you some way/some how. We need to know what can happen to you. You're going to have to call the telephone number and ask them. Tell them your account was closed due to fraudulent activity and you have outstanding pdl checks. Ask them what's going to happen to those checks. Quick, simple, easy question. They will give you the answer. Then you'll know. And it might be something "good" to where you're mind will be put at ease. But, please call that telephone number and ask them. Nothing like being taken by surprise by something "bad" happening. And when you call that number and ask that question, please mention the store front that just hands you your check back & ask what the hell happens now???? That'll be a good question for them to answer. Please call them and post what the response is. You might get "good" news and be okay. I just want to be sure. Plus I want to know about the whole "blank check pdl". I'm wondering if what they are doing is even legal.

I too am caught up in this pdl nightmare....everything was ok, until my hrs got cut at work and not enough $ made it to my acct to pay all. Now I am in the red with the bank, and 1 payment behind on about 7 loans...what steps do I need to take from here..please help...

First, what state are you in?

Second, we need the names of the companies and whether they are store front or internet loans.

This morning I thought, surely I am not alone in this mess I have gotten myself into again...yes again. 4 years ago i filed bankruptcy because of payday loans. Long story with too many excuses later, I find myself in the same boat. I currently have 5 or 6 payday loans out. I have lost track honestly. I have called them to make arrangements, that later I find I am unable to keep up with. I can't close the account that they have on record because it is overdrawn. Even though I have told them that any attempt to debit that account will be returned causing more fees by the bank and digging my hole deeper. I cancelled my direct deposit into that account and opened a new account so i could pay "important" bills like my car payment and my cell phone. My next step is going to be to change my phone number I guess. The real kicker is that I just got a promotion at work and it will require a lot of travel. I am in such a hole, I don't have the money to travel even though I will be reimbursed by my employer, I don't have the $ to go in the first place. So, I can't do anything to pay them right now and I can't stop them from trying to pull from that overdrawn account. My Master plan is to avoid them until I can make arrangements that I can follow through with. Well thanks for listening and for all the advice on here.

Head barely above water.

Sorry, I forgot to mention I am in Texas with the following loans

cashnetusa-internet
federal bank of delaware-internet
greenlightfunds-internet
cashadvancenetwork-internet
the cash store-store front.

oh goody, there are only 5. I owe them collectively 2525.00 WITHOUT interest.

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