Have PDL questions?

First can you tell us if these are internet or store front loans?? Store fronts work within the state laws usually and so you would have to make payments arrangements with them directly before stopping any payments to them. If they are internet...check your state laws and know whether they are licensed and/or legal. Then yes...you have the right to write them and revoke thier right to debit your account. You can also revoke any wage assignments and ask them not to contact you at work. If you still owe on the principle offer a payment plan...if you have over paid...explain that also according to your state law and ask them to mark you paid in full. Make sure you talk to your bank and close your account because they more than likely will not honor your request...and the only way to stop them is to keep them from getting more money out of your account. You will need the banks help to do this.

One is with Payday One, Thinkcash, CashNet Usa and Check n go Online. The Thinkcash and the Check n go Online are Installment payday loans by First Bank of Delaware. The Other 2 are Internet loans also. I live in Kansas if that helps you. Thank you for your help I really appreciate it.

Hang in there someone with more expierence than I will be along but wanted to give some words of encouragement. Keep thinking positive and follow all the advice that is given to you as we have all been where you are at now. We are all trying to get out of the pdl trap. Lots of luck and keep us posted.

ladybug

I will post the laws for your state Kansas here (just select your state), Please let us know , how much you have borrowed from each, and how much in total you have paid to each lender. Then we will be able to help you. There is more involved than sending them a letter revoking your authorization to debit.They dont pay attention to that, and will go into your account and bleed you dry of all your money.
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Each one of those companies is going to be legal in your state.

The Check n Go and Think Cash loans are installment loans, and the payday loan laws wouldn't apply to them. Since they are backed by an FDIC insured bank, 1st Bank of DE, federal law allows them to import their home state's interest rates, and doesn't require them to be licensed by individual states, only their home state, which is Deleware. Deleware has no interest rate cap.

Payday One and Cash Net USA are going to be legal in your state. They are both licensed as supervised lenders.

All of your loans are legal, and you need to be very careful in dealing with them. Since they are legal loans, there is the chance that they could take action to collect. They could sue you, win a judgement, and garnish your wages or attach your bank account.

Okay I thank you all for the help and will be very careful. I plan on paying them just don't have it right now.

Just keep up communication with them. That's really the most important part. If you ignore their calls they will start to think that you are trying to avoid the debt, and will probably take further steps to collect. As long as you keep communicating with them, and make some payment every month, you should be okay.

Quick update on my PDL's. Thank you all for your help and advice I really appreciate it. I received some money that I was waiting and was able to pay off 4 of the 5 Loans I had. What a sigh of relief I will never get myself in that situation again. I still have 1 loan with check n go online, I have for payments left on it and it will be done. I was fortunate not to have to default on any of these but, I was nervous that I would and would really be in a pickle. I just want to tell people please please please find another way to get money. These places are atrocious on their fees and will not very often work with you. I want to thank you all again and Godspeed to all of you.

Good for you. Post this story in the success thread, that gives people a positive thing to keep going. Congratulations again.

ladybug

That is great! You are super lucky to have had some money come in to take care of these. It's a huge burden off your shoulders!

Yay! :D