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I have gotten myself in trouble with payday loans

Date: Mon, 01/14/2008 - 08:29

Submitted by anonymous
on Mon, 01/14/2008 - 08:29

Posts: 202330 Credits: [Donate]

Total Replies: 9


i have about 10 of them do you have a progrem for payday loans.i won't to paythem all off and have one easy payment. thank you


Hi, welcome to the forums. You have come to the right place. Please tell us how much each loan was for and from which lender. Also, how much you have paid each one so far and the State that you live in. That way we can help you determine what you legally owe. Also are these store front or internet?
You must close or freeze your checking account immediately so that you can breathe and deal with these companies on your terms, not theirs. Tell your payroll dept that you need to get a live paycheck for a while.


lrhall41

Submitted by Frogpatch on Mon, 01/14/2008 - 08:31

( Posts: 5381 | Credits: )


Between me and my fiance we have 11. I am going to close our account and open a new one in another bank and let my employer know for direct deposit purposes. We are going to contact the payday companies and make arrangements. I live in Maryland, am I doing the right thing. I do not know the rules or laws for doing this here in this state.[font=Arial][/font]


lrhall41

Submitted by on Sun, 10/05/2008 - 06:18

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Payday lenders are not legal in Maryland, either because of restrictive laws, or because the state does not license companies not located in that state, but requires a state issued license to lend. Keep in mind that your state is known to have payday loan companies acting as CSO's (Credit Service Organizations). This means they do not need to be licensed, and are generally 100% legal in what they charge. If you will list each of your lenders, amount borrowed, and amount paid back we can try to help you with a plan of action.


Quote:

Maryland State Information

Legal Status: Prohibited

Citation:
Consumer loan act applies. Md. Code Ann. Com. Law II ???? 12-301 et seq.

Small Loan Rate Cap
2.75% per month; 33% per year.

Where to Complain, Get Information:
Regulator: Maryland Commissioner of Financial Regulation
Address: 500 North Calvert Street Suite 402 Baltimore MD 21202
Phone: (410) 230-6100
Fax: (410) 333-3866
Regulatory Contact: Michael Jackson Director, Regulatory Policy
Regulator????????s Website


lrhall41

Submitted by Shazzers on Sun, 10/05/2008 - 07:16

( Posts: 17344 | Credits: )


Quote:

Originally Posted by Anonymous
I am in the same predicament. I live in Florida. Help!


Start a new topic with the following information:
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.


lrhall41

Submitted by Shazzers on Wed, 09/30/2009 - 11:58

( Posts: 17344 | Credits: )