Here are all of my internet loans!

I don't think that any of these companies are going to be legal in your state.

Diffenately CLOSE your current account and make sure it cannot be forced back open due to these PDL's trying to debit your account.
If these loans are illegal in IL that is GREAT news for you.
After you get your bank account taken care of you need to fax/email/mail certified return receipt a letter revoking their rights to debit your account, their right to call you and any wage assignment you may have signed. You will also need to give a copy of the wage assignment revocation to your payroll person. Wage assignments are totally voluntary and can be revoked at anytime.
Don't be depressed. This happens to all of us!! So sorry about your sister.
How much money in fees have you paid to each of these places. You may have already paid back the principal borrowed or more than you actually owe them.

Have you paid anything on these loans?

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

laura, thank you for posting the names of the pdls and the amount borrowed. Can you (as requested above) please post how much you have paid these guys so far? If nothing, that's okay. Just say "zero". We can help you with this. :D

Laura, I read your message on my home page and am really happy you posted on the fourm so everyone can help you out. Please do as Cannr has asked and post the total of how much you have paid to each that way we can help you work you way out of this. I know this is difficult however, you have taken the first step to getting control over your money again. You can do this.

ok if companies are not legal in your state and they issue you a loan isnt there fault and u dont have to pay anything i mean if your state says no they cant refinace your loan or the interest is to high or its more the 31 days as in my state iowa then if u get a loan say 300$ and these laws protect you then your not at fault and thats should be the end of it?

I'm assuming josh is a separate member from laura??? Whichever, this is for josh - technically you're correct if you are talking about an ILLEGAL pdl. However, to say that you received $300 and your state says they're illegal so you figure - never mind, I don't have to pay anything back because I have the law protecting me - let me just give you the reality. Like I said, technically you are correct. However, if you did indeed receive $300 in your account, spent the $300 on whatever you needed it for, you should pay the $300 back. Not the illegal fees, not the rollovers, not the extensions, etc. But the $300 that you accepted into your account and spent. Now, as for "that should be the end of it" - no. The pdls will harrass the living hell out of you day and night for days, weeks, months, years. I am not lying. They might turn you over to collections, who will then harrass the hell out of you. They might report you to the credit bureaus, which you will then have to fight to get this removed. This is not something that you can take lightly. Pdls have been known to find new bank accounts and suck that money right out of it without your knowledge until it's too late. There are steps to be taken when dealing with pdls. To think that you can take out a pdl, find out that they're considered illegal in your state, and just "forget about it" is just not realistic.

well what i was trying to say is the loan company is violating laws first if i applied for a loan and got aproved and they send me money they violated laws right there with there high interest rates how long the loan is and they not licened in my state iowa so if they act first by violating laws then it wont fall on me i could just simply close my account after i took there 300 and send them letters stating they are illegal and im reporting them to bbb and other places right?

No state says it's illegal for an unlicensed person or company to make a loan. No state says it's illegal for them to put money into an account. It's only illegal for them to collect more in interest than the state allows an unlicensed lender to charge - usually 6% a year.

So, what are you going to report to the BBB? "I took their money. I spent it. And now I want you to say I don't have to even have to pay back what I took?"

There are too many honest people that have problems with payday loans and ask for help on these boards to be wasting time on people like the "Guest" that are just looking to use the information provided here as a license to steal.

well if the loan company's interested rate starts off too high then thats illegal, if it says its more then 31 day loan thats illegal, if its a recuring loan thats illegal, all that is illegal in my state so if they dont check out my state laws to see if the pdl is legal and give it to me thats there fault not mine why would u defend a pdl most of them are scams

By your reasoning, Guest, when God wrote "Thou Shalt Not Steal" he was defending payday lenders. It's okay to knowingly rob someone if no one likes him?

If you want to be a thief, go be a thief. But don't expect support, advice or absolution on this forum.

The people here all want to pay their debts, and if that's not physically possible, they want to work out a resolution that both sides can live with. They come here for advice on how to do THAT while avoiding illegal interest rates and harassment. What you want to do, and what you seem to want people on these boards to tell you it's OK to do, isn't close to what this forum is all about.

That was me. I didn't realize I hadn't signed in until afterwards.

People,
First off, this forum is a no-bash zone, OK? So no talking about mistakes--because if you want to talk about PDL's as mistakes, I've made plenty, let me tell you. The point is to help each pay off what we took out at a LEGAL interest rate--not an outrageous one.

Sorry I am just popping up here now, everyone is on vacation at work so I have been doing the job of 10 people for the past couple of weeks

ameriloan $350 Paid $110
Payday Online $400 Paid $880
Payday Services $300 Paid $660
Little Loan Shop $300 Paid $180
LoanShop $300 Paid $90
Loan Point $400 Paid $180
East Side Lending? $400 Paid $120
SGQ, LTD. $300 Paid $90


Thsi is my second one with both Loan Point and Ameriloan, the first
ones were paid with the fourth finance charge--both at $660 each!

Please advise. I am trying to be honest and am not trying to scam thee companies. I may be closing my account before the 31st (next payday). I have tried a consoldation loan but nobody will approve me. I just want to pay the principal and reasonable interest owed to these companies but how do you stop this process?. You all seem so sincere in helping and truly caring about people that you don't know--like me!! It is making me cry because I have prayed for help and yes the Lord can lead us to a website--He can do all things!! escpecially get me out of my own mess!!!!!!!!!! Merry Christmas to all of you!

Hang in there Laura. I am sure one of the moderators will be here to give you the information you need. Take a deep breath and relax! Sounds like you are having a very busy day along with the payday stress. Also, know that you can do this many of us have and it feels so good when your done with them. Merry Christams.

I live in New York and I was very stupid 30 year old women. I took out payday loans and now they are bouncing in my checking account. My account is 1200 dollars negative and I have opened another account somewhere else. One loan had a investigator call me and say he is taking me to court for check fraud if I do not pay the settle amount of 635 dollars by this friday and saturday. I am already settling with another company and can not afford this. I can not afford a lawyer and need all the advice I can get.
Cash in minutes-$200-the one that is saying I am checkfraud if i do not pay.
National cash advance-300
payday yes-300
payday max-300
cash advance.com-300

I am also in New york. Pay day loans are not legal in our state.No one is taking you to court so calm down about that. I am glad that you opened a new checking account. Are you certain that your bank will not Force open your closed account when the ach debits come thru, causing you more nsf fees. when your new bank finds out that you owe your old bank so much money (if your old bank reports you to chex) they will close that new account. did you read the sticky about closing your account?
I will also post the new york laws for you.

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

To make matters worse two of these companies are taking the interest before payday!! one took it on the 24th and the other today 12/28--payday is 12/31!! I will not feel guilty if I close my account after this!

Don't feel guilty about closing your account. These companies won't stop taking money, even after you pay them what they say you owe. You have to protect yourself. You've already seen now that they don't play by their own rules!

Once you get your account closed and protected (you've read the sticky right?) then you can start with the letters and complaints. It's going to take a bit of work and time on your part, but you can clear up this mess. :D

I am very familiar with the reopening of accounts! I work for a bank and open/close accounts and always put the flag to not reopen!! I will talk to a manager to have mine done the same way. I will be back on when it is closed for guidance with my next steps!! thanks and Happy New Year!!!!!!!!

You too! Have a good one, knowing that you are taking back control of you financial life! :D

I switched my direct deposit to a new account but had a check that needed to clear on the old account so I wasn't able to close it before 12/31! My check cleared that same day and my bank returned all of these ACH's for NSF! I have some fees to pay but oh well as long as it gets closed. Now these people are calling me, should I respond? Please give me the next steps, forms....... I would like to take care of this right away. Have you ever heard of these companies allowing someone to pay installments but stop the rolloever fees? probably not or this site wouldn't be here ha? lol I had only made one payment on one of these and wish they would settle right now!!! The only "legal" people that called are from the one that I have paid double what I borrowed--they still want more!!! I haven't replied to any calls yet.

Is someone going to reply to my last post or am I doing this wrong?

Laura, I am sorry no one replied sooner. Try not to talk to these people and only communicate in writing if possible. I will get someone to pm you the letter..I am out of work for a few weeks and my info is there....As for repayment, I overpaid all mine so I am not exactly fmailiar with htis. I know in their letters, other members have put a repayment plan. Hang in there.