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45 days into a 12 month nightmare

Date: Mon, 12/10/2007 - 09:57

Submitted by chillee2222
on Mon, 12/10/2007 - 09:57

Posts: 8 Credits: [Donate]

Total Replies: 27


I seperated from my wife 45 days ago and went into debt when i walked out the dor. Since then it took about 3 weeks and two pay periods to fall behind after i took out 11 payday loans. My 4 credit cards were maxed and I needed money for a lawyer in the divorce, so I thought I could take some out to help but then when I couldn't pay my regular bills and the water got cut off, cell phone got cut off, i had no choice but to take out more to pay some regular bills. All the while thinking I could get a 2nd job to payoff the loans but unfortunately it would do any good because by the ime I would recieve a check from that job, 3 weeks and at least one pay period would have passed. I just signed up with Langhorne and from what I can tell I am very skeptical about what is going to come of all of this. These payday loan stores have my employers number and I am worried that they will be calling there harrassing them for payment because the way Langhorne laid out my plan, 3 months go by before there is really any fair portion of money to settle the debts and it would be later of 6 months before there would be a fairly large amount of money to work withfor settlement purposes. So what is gonna happen during those first 3 to 6 months? Am I gonna get call after call, they gonna harrass my employer?...so many questions with no answers. OMG, the stress, Xmas, my bills piling up, my family cant help, I tried that already and to make it worse I am back to being a single parent again and the money I paid out this month and last month sucked up Xmas. I dont know if Langhorne is gonna free me of all of this but they are the only chance i have left. I have been reading alot of other peoples similar problems on here and found that there is only one real solution to this..Dont take out payday loans to cover other payday loans cuz it only gets worse.


You are right about the pdl's. You start out with one and the next thing you know you have several it is a never ending cycle, however with the proper advice which this site will offer you you can overcome your obstacles. Hang in there you will get alot of support from this community.

ladybug


lrhall41

Submitted by ladybug on Mon, 12/10/2007 - 10:01

( Posts: 2753 | Credits: )


You may be able to do this on your own. Many of us have, especially if the companies you are dealing with are illegal.
Who do you have loans with
How much have you borrowed
how much have you paid to each, Include fees and principle
What state do you llive in'
Are your loans store front or internet


lrhall41

Submitted by kashzan on Mon, 12/10/2007 - 10:04

( Posts: 5401 | Credits: )


11 loans total. 4 store front which i can handle cuz i pay them down each pay period but the 7 internet loans are killing me.
I live in Mississippi and they have regulatory guidelines for these places to operate ere..they acctually have lower interet rates than the online lenders.
FTR processing
Total lending
Arrowhead investments
Big LTD
UpFront Payday
Summit Group
Midland Financial

For a grand total of 2100 not counting the interest of 645 that they debit from my account when payday comes..


lrhall41

Submitted by chillee2222 on Mon, 12/10/2007 - 10:53

( Posts: 8 | Credits: )


LOCAL

Payday Loan Store
Loan Amt. 325
Int paid to date= 425

Cash inc.
Loan Amt. 328
Int paid to date. 144

Express Check Advance
loan amt. 200
Int paid to date. 90

The Money Store
Loan Amt. 328
Int paid to date. 144

INTERNET

UpfrontPayday loan 400 int paid 240
Summit Loans loan 300 int paid 180
Midland Financial loan 300 int paid 180
BIG Ltd loan 200 int paid 155
Total Lending loan 300 int paid 180
Arrowhead investments loan 300 int paid 180
FTR processing loan 300 int paid 90


lrhall41

Submitted by on Mon, 12/10/2007 - 12:40

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I talked to those folks at payday loan store and they told me that what they have to do is send the check thru and let it come back NSF then they would allow me to pay on it but required half down. that could get costlyif all four of the store front places xpect me to do that...


lrhall41

Submitted by on Mon, 12/10/2007 - 12:43

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You need to read the sticky on closing your account and open up a new one preferably at a new bank. DO NOT give out your new bank info to anyone, not even the storefronts. There will be others with better advice but I would say this is what you need to do first.


lrhall41

Submitted by on Tue, 12/11/2007 - 08:48

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well gee...this sight was a really big help NOT! The few replies I have got didnt tell me anything more than I had already read in other threads. Well I cant blame anyone here for the mistakes i have made, afterall I got myself into this mess and it is I who ultimately have to get myself out. After reading how many others have been helped here, I really thought I could standup and fight the good fight with support from people here but how stupid of me to think that. that was just as stupid as taking out a payday loan.


lrhall41

Submitted by on Wed, 12/12/2007 - 15:21

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I don't know what is going on, but you have to realize sometimes there aren't many people on the site. There is help, but it may not be as immediate as you would like.

Pretty much all the info is already posted on the site. Most people start their own thread because they don't want to search or want more support. Whichever way you chose, if you do stick it out here and get the help you want, you will see results.


lrhall41

Submitted by goudah2424 on Wed, 12/12/2007 - 15:43

( Posts: 7935 | Credits: )


Chillee, if you are also guest, here are some responses to your questions. As Goudah stated above, we are not always able to answer as quick as you may like. If your storefronts are current, you can check out this site and see if they are members of the CFSA
cfsa.net/about_cfsa.html. IF they are, they should work out payment plans for you.

As for your internet loans...as far as I could tell, if you look at the sticky at the top of the page that says if you need help, post this information...you will find the web site for paydayinfo.org...a state map will appear and if you click on your state, your state laws will pop up. It should give you your state regulators web site....I went here and apparently your state has a law or act? that says the pdl must have a physical location in your state. I tried to look yours up but ran out of time. You can go here and check out your internet pdls. I am going to go out on a limb and guess they do not.

You do need to do as the guest above posted and close your bank account. If you do not close your account, the internet pdls will continue to debit. Please read the sticky at the top of the page about closing your account. It has good information in it. If you do close your account, you need to get with your store fronts and let them know. You should be able to get started with the information provided.

If you have any questions, please post them. If you do not have the time to wait for the answer, you may want to try the search box in the top right corner of the page. If you type in what you are looking for, all the threads that have the words you typed will appear and you can read through them to see what other members and guests have posted.


lrhall41

Submitted by RoxyNY on Wed, 12/12/2007 - 18:40

( Posts: 4178 | Credits: )