college grad is stupid, but trying to change things
Date: Fri, 02/22/2008 - 10:06
All are internet PDL companies:
Cashzip: $250 was original amount borrowed. I have made principal payments totaling $55. The balance is now $234.
BIG (outside U.S. company): $150 was original amount borrowed. I have made 5 interest-only payments as of today. The next time I get paid, I will pay $50 + interest and do that for three pay periods.
Ameriloan: $150 was original amount borrowed. I have paid $50 on the principal. The loan has been rolled over 4 times. On February 29, I have to pay $50 on the principal and $30 in interest. On March 7, I have to pay the last $50 on the principal and $15 in interest to pay it off.
Any advice you can offer would really be appreciated. I'm tired of working hard and still having trouble making ends meet because of how much money the fees cost me every two weeks.
Hello Mary, don't feel stupid, we've all been where you are, but
Hello Mary, don't feel stupid, we've all been where you are, but you are in the right place at the right time! There are a lot of people here who will be able to help you. You seem to be informed about your payday laws but I am going to do a search and post them for you anyhow. Please hang tight because someone will be along to help you shortly!
Here are the PDL laws for you Mary (just select your state),
Here are the PDL laws for you Mary (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
r
mary, can you please list exactly what you have paid them to date in dollar amounts? Your state pdl law says "not specified" regarding rollovers. Have they changed that? Anyway, I do know that ameriloan and BIG will not even be licensed to lend to you. I'm not sure of CashZip. That's a new one on me. Can you please tell us how much you have paid these people so far? We can help.
college grad is stupid... (answers to questions)
so far I have paid the following amounts out:
BIG: $250
Cashzip: $376
Ameriloan: $185
to the best of my knowledge, NM no longer allows rollovers, as of January 2007, I believe
mary, what was the amount borrowed? Principle amount only. What
mary, what was the amount borrowed? Principle amount only. What they deposited into your bank account for each one of these three?
oops, sorry, cannr BIG deposited $150 into my account. Cashz
oops, sorry, cannr
BIG deposited $150 into my account.
Cashzip deposited $250.
ameriloan deposited $150.
mary, here's the breakdown for you: BIG borrowed 150/paid 250
mary, here's the breakdown for you:
BIG borrowed 150/paid 250/OVERPAID 100
CashZip borrowed 250/paid 376/OVERPAID 126
ameriloan borrowed 150/paid 185/OVERPAID 35
Have you done anything with your bank account yet? What I mean is that so that these companies can no longer debit you? They will debit into the thousands.