PDL LOOP...what about washington dc?
Date: Sun, 09/16/2007 - 13:54
It isn't as bad as ones I've read, but it is still really important for me and my huisband to get out of. Ok, Together we have 2 payday loans that are store front and one Installment loan. All three are from check n go (me - 1 pdl, husband - 1 pdl and installment loan). We have been on this payday loan loop (the pay the finance fee every two weeks or pay it in full and take it back out the same day loop) since the beginning of this year. We have had this installment loan before and took it back out in july and it ends on Nov 8th. They are all current. Now we have been unable to pay the PDL's off like we so desperatly want to and now I am pregnant and have a baby on the way due in january 08 and we are desperatly trying to pay both PDL's off soon and let that installment loan end or we will be in a horrible situation when I have to take maternity leave in December. One PDL is for $354.44 and the other is $ 964.44 (which is the amount we would have to pay in full to pay it off). With all the finance fees we've paid we have really paid it off but they don't work that way. Its hard to pay it off because we have other bills like rent, car note, blah blah that we are falling behind on because of these huge chunks we have to pay to check n go. Also we have other collection notices and things that are WAY past due and that extra money we give to check n go could help us ALOT!!!! Please help!
---Oh and the payday loan is in Washington DC, but I actually live in Maryland. I know maryland doesn't allow paydayloans but thats why maryland people use their family members DC address to get them which is what we did. I wish I could call them and tell them we moved and maybe they would stop the loop and make us pay towards paying it off...Please do give me all the advice you have...thanks!
Take a deep breathe and someone who more expertise than I will b
Take a deep breathe and someone who more expertise than I will be along shortly to assist you. You have come to the right place to get out of the pdl nightmare.
ladybug
Baby, There have been quite a few posts regarding Check n Go.
Baby, There have been quite a few posts regarding Check n Go. One of the posts states Check N GO will not make payment arrangements. I am not sure if this is the case so you may want to contact the District Manager for Check n Go and see what your options are. Most storefronts are licensed and operate within the guidelines of the regualting agency. I would also suggest you use the search box in the top right corner of the page and type in check n go storefront to see what others have experienced with them. You do need to continue with your installment loan since that one is backed by the Bank of Deleware and you do not want to default on it. As Ladybug stated take a deep breath..If you have any questions, please post them and someone will be along to help. This should get you started and I am sure others will be along with additional advice.
reply
baby, I'm posting DC's state pdl law for you. However, am I reading this correctly? You reside in Maryland but went to DC to get the loans and used a relative's address? Oh Lordy! Store fronts are licensed/legal in DC, where you got them and apparently told them you reside at. Not a whole lot is "specified" on the pdl law. Lots of unanswered questions. However, I will point out that you have store front loans, which will be licensed/legal and you have an installment loan, which will be licensed/legal. You're not dealing with anyone illegal here. Your major delimma is going to DC to get store fronts and using someone else's address. Oh Lordy. I'm going to post the DC law so you can see how "vague" it is. And, hopefully, someone can come along regarding the fact that you got the loans using someone else's address. I can't touch that because it's beyond me! Hang in there!
HELP!
Yea I did use a relatives address...but they know that and actually on my agreement/contract they have my old maryland address....the checks me and my husband give to them are marryland also...they know it and they know other maryland people do this but they want the money so they tell you to use a relative or friends address....and that is what I did. I have the contract though and it has my name and md address. I just desperatly need to get out of this loop without jeperdizing my important bills. the installment loan ends in nov 8th so that is fine....its the ones that dont end and will keep going on forever that are the problems.
What method are you paying these storefronts....debtiing your ac
What method are you paying these storefronts....debtiing your account or you walk in cash payments?
How much have you paid in fees?
i walk in with cash. I just defaulted on my loan after reading s
i walk in with cash. I just defaulted on my loan after reading someone elses message and I called the DM. by defaulting they deposit my checks which sucks because of fees but atleast I can make a payment arrangement when they bounce and be out of the payday part and my installment loan ends november 8th so I will never EVER do these again. I have been in the payday loan loop since about february of this year so I have paid about $800 in fees for a $310 loan..not to mention my husband paying over 1600 in fees alone for a 800 loan.
Baby, many of the storefronts will make you default by bouncing
Baby, many of the storefronts will make you default by bouncing your check to them beofre they will set up payment arrangements. I am happy to hear you are almost completely out of the cycle. And I am with you on the never ever again :D
Yes the checks have already bounced but instead of like 6 nsf fe
Yes the checks have already bounced but instead of like 6 nsf fees i just did a stop payment for one low fee. YA! I will be calling them to set up a payment arrangement sometime this week and I plan on being done with paying everything by the end of November for FREEDOM ATLAST! wish I would have defaulted months ago!
Well Baby tht is great to hear! Thanks for checking back in...
Well Baby tht is great to hear! Thanks for checking back in...