I am going to default in my payday loans

First of all you need to contact them and let them know. The sooner the better. And yes they can go after you because they are licensed in your state. I will look up your states laws and post them here. But the better contact you have with them the better chance you have at setting up a payment arrangement with them.

According to KY statutes you cannot be prosecuted.

Lizzy, can you also list which storefronts you have loans with?

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

Well according to your laws you are only allowed 2 loans out at a time and rollovers are not permitted.

cash express,payday usa,bluegrass

Lizzy, that is three storefronts, do you have two with each? And you have not defaulted yet?

my husband and i both have two each at all places about 1850 all together we have never defaulted but its gettin to hard to pay them and our bills

Lizzy, both Cash Express and Payday USA are members of the CFSA. I will post a link which will explain more about this organization...what this means to you is that these companies because of their membership have to owrk out payment plans with you. The company divids you loan into four payments but this must be done no later than the day before the loan is due. You can go to this web site and read more about this. You do need to contact Bluegrass and try to work out payment arrangements with them.

Sorry, forgot the link...here it is

http://www.cfsa.net/about_cfsa.html

the cash express that we deal with no longer has a liscense through the state department of financial institution what do i do now???

They are no longer licensed in the State of Ky??

Lizzy, you need to contact the DFI on the one you asked me about. I would call them in the morning. But like Roxy posted the ones that are members of cfsa do make payment arrangements without sending your check through. But you must go in BEFORE your due date and tell them you want to enter into the payment agreement.

i went to debt and consolidation forum and went to the second one on state laws and looked them up and it took me to the ky.gov web site and looked up the one in paducah and they dont have a liscense...now what am i obligated to pay them or do i file a complaint or leverage to get a payment arrangement
?????

i guess i didnt look further i thought i found it on the first page and actually they are re liscened as a branch not individual.

What can these palces actually do to me what is the usual process and what about prosecution???

They will try and cash the check, then it will go back to them NSF, then if you still do not pay they can either send it to collections or they can take you to court to get their money.

Sometimes if the check goes back NSF they will make payment arrangements but they will tack on a NSF fee and a late fee.

What you need to do is contact the lenders and explain to them that you will not be able to pay them. Then let them know that if they deposit your check that it will come back NSF and what are the options you have. And what will they do if the check goes back NSF. But most of all contact them before this happens. If you keep them informed they will be more willing to work with you.

thank you all of your help.good night.

How would i know about the state of texas laws on payday loans

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

Vick, I can post them for you...but many of the storefronts in Texas operate as CSO's (Credit Service Organizations) and the laws do not apply to them. If you want to tell us what is going on we can try to help you with your situation. If you would like us to help, it would be better if you started your own thread so it will be easier for us and you to find your thread again.

how do i start my own thread

Go to the pay day loan help forum. On the top of the page click on new topic.

i am under payday loans

vick, I see the Texas pdl law has been posted for you. Do you have internet loans or storefront loans?