Payday Loan Consolidation Referral?

mk, I'm going to post the state pdl law for everyone to see. However, you state that Colorado has payment plans now and you're taking advantage of them? What kind of payment plans? Are these all storefronts pdls that you have? Or do you also have internet loans? If you list out the names of your pdls, we can help you further. :D In the meantime, I'm going to post your law in case we need it.

You will find the Payday loan laws for Colorado here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Thanks for the quick response. Yes, these are storefront loans: Advance America, EZ Money, ACE Cash Advance, Check Mate, Check Lenders, Allied Cash Advance, etc. I guess there is some new law now in CO that if you take out 4 consecutive loans, they are REQUIRED to let you pay off the loan+interest in 6 installments. So if you have a $500 loan + $75 interest you pay $95.83 x 6 rather than keep paying $75 fee each time and never touching the principal balance. Still though, we owe way more than we can afford and are looking for a consolidation plan.

I have read that Town and Country (T&C) consolidates payday loans. Their phone number is: 1-800-788-1141.
I do not have personal experience with them and would recommend doing a search on this site and reading what others have said about their experience with them.

mk, wow! You poor thing! You must be going crazy trying to keep all of these up! Don't be embarrassed. Not at all. We find ourselves in messes all the time. Let's see.... some of these could be members of the CFSA, which you could invoke the EPP on (extended payment plan). This would divide the payments of the loans into 4 equal payments coinciding with your paydates. All collection activity would stop and the fees would stop. However, you're stating that Colorado has a new law where you can pay in 6 payments - which would be better than 4 payments. At least a little bit less each payment anyway. I see where this would still be a heck of a lot of money having 13 to deal with though. I see someone posted information regarding T&C. I'm not sure if they'll handle "just" pdls. I'm not positive. I always say, it never hurts to call and ask. However, there is another company that members here use for pdls. And I know they will do pdls. They are Langhorne. Let me see if I can find the information on them for you. Like I said, it never hurts to call and ask questions. Hang on. :D

Langhorne debt solutions
(Langhorne Law)
884 Town Center Drive
Langhorne, PA 19047

(267) 569-7004
(866) 529-0217
(800) 941-0294 (FAX)

** You can do a search in the search box at the top right hand corner of the screen. Just type in Town and Country (or T&C) and type in Langhorne. You can read different posts from members regarding each company. **

I am currently paying off a loan from a company that is charging me $30/100 borrowed. According to the Colorado legal information posted above, this is illegal. Is there any way that I can get some of my money back?

I am also in Colorado I have 3 payday loans plus a bank cash advance from my bank.

Allied Cash Advance: $500 + $75 fee
Ace Cash Express: $500 + $75 fee
EZ Cash: $150 + $30 fee
US Bank: $500 + $50 fee (can only borrow for a 9 month run each year. I have until Feb 2010 to pay it.)

Now with Allied they do the payment plan. I'm going to start the payment plan as soon as I can afford it. (paycheck after next) It will be about $95.84 for 6 paychecks which will be really hard on us.

With Ace I don't know if they do the payment plan. I hope so but there is no way we can afford 2 payment plans at once.

With EZ Cash they do not do the payment plan. They have a different thing where you borrow once, roll over once, reborrow, then pay off. Then you have to wait 5 days before reborrow. There is no way we can just pay it off and let it be.

I want to consolidate the 3 payday loans. I am not so worried about the bank at this point. But, my credit score is only around 420 so I can't get any sort of loan. My credit score is so low because we were in poverty in 2006 and now we are better but we have a lot of old stuff in collections and a lot of cards at their max and we are still very low income. I pay my bills on time but we are struggling now and I am really stressed out.

Are there any options for low income people to get help? If I could just consolidate we would be fine.