they are threatening legal actions

guest, I am going to post Kentucky state pdl law for you. I am assuming this is a storefront loan you have? And, they extended your due date for another week? Am I correct in assuming this? What "no rollovers" means is that you can't just pay the "fee" and extend the loan. You can go in and pay it in full and re-write. Now, some store fronts WILL hold the check a little longer for you. Some will hold it up to 30 days. It just depends on the store front. That's not really considered a "rollover" since they're just holding it for you longer than the first due date. I'm going to post the pdl law for you. If you have any questions, please post. :D

guest -

If this is a storefront loan, this company can and will take you to court to get their money. If you skip the court date, they will be given a default judgement against you, which will lead to garnishment of your wages and damage your credit rating.

If this is an internet lender, please let us know - but it sounds like a storefront to me.

As far as the law goes, no rollover means they cannot renew or extend the loan any further than the original term of the loan. i.e., they can't take a loan that was supposed to be paid in 2 weeks and give you another 2 weeks to pay it - especially if they charge a fee to do so.

Hi, sue! We posted together! :lol:

hi cannr...sorry about that ! :oops:

Well, at least we said the same thing! :D

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

yes it is a storefront,and no they wont extend it any longer.So all they can do is take us to court and get a judgement against us?i am just worried that they can prosecute us.We have been good customers with them and have rewriiten like 6or 7 times.

Guest -

I hate to say this, but the PDL companies don't care that you're a good customer - the minute you default, regardless of how many times you've re-written with them, you become a collection account in their eyes - someone that will be taken to court to get their money. They only see dollar signs, not people. I'm sorry, but that's the truth, as I'm sure you're finding out.

Your state law does not specify a repayment plan - so they don't HAVE to offer you a way to pay the loan other than what they've already offered.

You will need to either find a way to pay the loan off or go to the court date and hope that the judge will set up a payment plan for you that you can afford. Whatever you do, DO NOT miss the court date.

guest, PayDayUSA isn't one that I'm familiar with. However, in Kentucky (although it does vary quite a bit) most storefronts will turn you over to corporate/collections/or attorney to collect the loan amount. If they do decide to take other action against you, it wouldn't be "criminal" action, it would be "civil" action. I'm just very surprised that are jumping right to that rather than using a collection service.

Another note to add to Cannr's excellent post above...some PDL companies are not bothering to use collection agencies - I know Advance America is one of them. If you don't pay them, they proceed directly to a court date.

i can handle a civil suit but ... not a criminal!thank u for the advice and some reality this was only suppose to be short term well guess what these things are horrible.....i feel bad about the whole situation...but if i dont do it im gonna be homeless and no x-mas for kids....

Thanks, suebee! We are a good team tonight!

guest, you will not be "criminally prosecuted".

guest -

take care of your family's needs first...but whatever you do, don't miss that court date. If you have no way to pay the loan in 2 days, and they won't work with you further, you'll need to go to the court date.

I hope things get better for you, and that you and your family have a nice Christmas!

Cannr...we are indeed a good team! I needed some stress relief and haven't had time to post lately with all the crap going on in my life...so I came here to read a few posts and started answering some...I feel a little better now. :-)

sue, helping people makes a person feel better! :wink:

thank you all again and merry christmas to everyone there also.

You're MORE than welcome! If you need anything at all, come on back. We'll be here! :D

should i close my bank account before they try to send the checks through and what about them coming after me for criminal charges for closing my account with the checks out???/

Guest -

Do not close your bank account when dealing with a storefront. You need to try and work this out with them or go to the court date. Those really are your only two options.

If you close your account, they will simply take that as a refusal to pay and take you to court if you don't report to their location to pay them.

Please, Please, PLEASE don't mess around with this any longer. Try to find a way to pay it if you can. If you can't, then you need to go to the court date and try to work it out from there.

thank you that straightens it out about closing my account then im admitting wrong and i will deffinitely go to court if it goes that far which it probaly will thank u very much again for your help

No problem - I just don't want to see you get in deeper by closing your account. Once you have all your checks in order and everything has cleared your account, if you want to close it then, by all means, do so...but to do it now would only lead to more bank charges and trouble with the PDL.