how do I get out of the payday trap?!!!!!!!!!

i live in tennessee, the ones I owe are one click cash,grc funding, aip, ashland interprise, CAN, paragon, GEC, my cash now, payday ok, zip cash, ameriloan, payday 2 go, and huskhawk group. I didn't even realize i had so many until I was no longer getting a pay check because they ere taking the whole thing and then some! every week i am at least 200.00 to the neg, forceing me to borrow more to pay the fees! please help I am extremly desperate at this point

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

buck, you're dealing with some illegal companies here. Can you please list each one of your pdls out, the amount borrowed, and the amount paid (total to date). We can help you here. :D

bucksoldhen, you're dealing with some illegal companies here. As you can see just from PayDayOK, you have been ripped off big time. I know it's tough getting all the amounts borrowed/paid/etc, but we need to know. Take your time and figure them out. You've listed 5 so far. I believe you have approximately 15, correct? So, we need about 10 more. We can help you with this. Can you please tell us what state you reside in? We can check out the state pdl law for you. Then we can go through and determine who is legal and who is illegal. :wink:

Cannr, I am thinking bucksoldhen is the same person based on how I am reading the thread. bucksoldhen, let me know if I am wrong. If you are the same person then....... Cannr has posted the TN Laws above to refer to. I will check the ones I am not sure of as I have time today.

Internet companies do not need to be licensed by TN. As long as they are licensed in another state they can lend legally. They must follow the laws of the state they are licensed in. I can tell by looking that some of yours are not licensed anywhere so that is good.

grc funding- original amount 300.00 i have been payig 90.00 fee since nov. by weekly and still owe 300.00. as for paragon processing, ashland interprise, and huskhawk group it was 200.00 each back in november and been paying 75.00 by weekly and still owe the same.

zip cash the original i think was 500. have paid 120 by weekly since dec. and still owe the same.
aip- 200.00 on dec 28th been paying 89.00 by weekly still owe the same
gec-original amount 500.00 still owe 610.00 that is a recent one i had to get because my account was 700.to the neg from all the fees.
payday2go-300.0 dec.24th paying 75.00 by weekly stil owe original amount

please help if you can i am getting more depressed the more i try to figure this out. i want to take care of my debts but i have to feed my kids too. again I live in tennessee so any advice would be great! i need to try to get something started tomorrow if possible to get out of this hell trust me I will NEVER fall for this again!!!

bucksoldhen, Hang in there. We have all been where you are and know exactly how you feel. I had 9 pdls when I came here and now I have control of my paycheck and am finally able to pay my bills on time. I know rightnow you are scared, angry and depressed, I have been there..You can fix this. Is your account still in the negative? You need to close your bank account. Please read this on closing your account and post if you have any questions....

http://www.debtconsolidationcare.com/paydayloan/close-account.html

I am still working on your pdl licenses.

OK...bucksoldhen, Using the information you gave me I calculated some of these out....they are VERY rough estimates...

1 click - brrowed 300 - pd ?

pay day ok - borrowed 500 - paid 1216.75

my cash now - borrowed 659 - paid ?

CAN - borrowed 300 - paid 260

GRC - borrowed 300 - paid (estimate 720)

Ashland - borrowed 200 - pd (estimate 600)

Paragon - borrowed 200 - pd (estimate 600)

Huskhawk - borrowed 200 - pd(estimate 600)

Zip - borrowed 500 - paid (estimate 720)

AIP - borrowed 200 - paid (estimate 534)

GEC - borrowed 500 - paid ?

pay day 2 go - borrowed 300 - paid (estimate 225 - 300)

Now for ameriloan, 1 click, My Cash Now and GEC, we need to find out how much you have paid them...You may need to go back through your bank statements and add it up. You do need to go back and figure out how much you have paid all these companies becuase my calculations are only estimations. I know this is depressing but I have good news...Most of your loans appear to be overpaid by my ESTIMATION...which is in your favor if they are not licensed.

I closed my account on thursday before they drained it on friday morning that is wy i am concerned. What happens when the payments are returned because the account was closed? I am so far behind though is seems i will never get out! where do I start? my kids are 12 and 14 and dont want them to know what a looser their mom is!

Great advice here, but may I add this:
You also need to stop direct deposit immediately if you currently have it, and make sure that your payroll issues you a hard check for the meantime. This will help to start give you control over your money again.
The other thing you need to do on your next working day, whenever that is, is make sure that Payroll gets a letter from you revoking any wage assignments that you may have signed to get your loans. I would do this even if you think that you didn't sign anything.
A wage assignment is a document that some companies use that authorizes them to have your company give them part of your wages should you default on your loan.
Mostly internet PDL companies use this in my experience and if you revoke this immediately with your payroll, they won't be able to.

bucksoldhen You are not a looser. We all make mistakes. You were in a position where you had to make choices and you did....like I said we have all been there. Now, you do need to check with your bank and make sure the account stays closed and that if the pdls keep debiting, it will not force the account to open. Did you open a new account? If not you may want to consider using a completely different bank. It will take the pdls a little while to find out the payments were returned. Once they do, they will call you non-stop....we will help you with that when the time comes. If they are not licensed to do buisness in TN, they should not have lent to you. Once you figure the last few out, we can go from there. I have to tell you so far I have not found any licensing on these. I am checking to be sure they are not licensed under a differnt name. If they are not licensed....this is really good for you. We always advocate paying back what you borrowed..and on most of yours, you have more than done so... that is good for you.

KS, you are going too fast for me.... :lol:

bucksoldhen, I am working today and I have to go take care of some stuff...post any questions you have and try to find that information for us. I will check back as soon as I can.

do I have to write a letter for payroll about the wage assignment or can i jst tell them if i write the letter what should it say? ameriloan i got 350. on jan 7th i have made 2pmts of 105, 2pmts of 50.00 and one of 90.00. one click cash was a recent one I had paid but had to renew because my account as so far in the hole! i owe the 390 mycashnow was also a recent one i paid off then had to renew to avoid trouble at my bank the balance on it is 659.60. gec aka cash direct express i owe 500. also a recent one WHAT HAVE I DONE TO MY SELF AND MY KIDS????????????????????????

bucksoldhen, take a deep breath, maybe I have not been saying this so you are understanding, your situation is not as bad as you think it is. You are going to have to put some work into this but it is NOT hopeless. Now....here is what I have so far....

1 click - brrowed 300 - paid 0

pay day ok - borrowed 500 - paid 1216.75

my cash now - borrowed 659 - paid 0

CAN - borrowed 300 - paid 260

GRC - borrowed 300 - paid (estimate 720)

Ashland - borrowed 200 - pd (estimate 600)

Paragon - borrowed 200 - pd (estimate 600)

Huskhawk - borrowed 200 - pd(estimate 600)

Zip - borrowed 500 - paid (estimate 720)

AIP - borrowed 200 - paid (estimate 534)

GEC - borrowed 500 - paid 0

pay day 2 go - borrowed 300 - paid (estimate 225 - 300)

ameriloan - borrowed 350 - paid 400

Ok... You were asking about the wage assignmnets....I am going to attach two threads for you to look at, one has a letter that you will need to change to reflect your state laws, companies etc... and the other is a letter for wage assignments.

PDL;
https://www.debtconsolidationcare.com/paydayloan/iowa-pdl-law.html

Wage Assignment
https://www.debtconsolidationcare.com/paydayloan/online-lenders.html

Alter these to fit your situation. If you have any questions, please ask. You sould take copies of the letter and wage assignment to your payroll so you can be sure they will be in the loop and will not honor anything you have not authorized or revoked.

bucksoldhen and members, here is what I have found out so far...In TN pdls can operate if they are licensed anywhere... I have reasearched all I can and here are the results...if any one knows anything else, please post...

1 click, ameriloan, Cash Advance Network - MTE - not licensed

my cash now - Not licensed

Paragon - found three addresses, not licensed in OH or nv, has address in kansas but could not get site to work.

Ashland - d/b/a/ of SJM

Huskhawk - d/b/a/ of BMG - not licensed

Zip Cash - did not find license in DE

GEC - Cash Direct Express - saw post claiming they were licensed in DE could not find license under GECC or Cash Direct Express - not licensed

Pay Day 2 Go - d/b/a/ - Cash Transfer Center - not licensed

AIP - could not find anything on.

Pay Day OK - licensed in DE

GRC - Geneva Roth - licensed in Utah

I checked Kansas for Paragon - they had one Paragon, but I do NOT believe it is them. They had an address listed as Texas. So I checked Texas and it's NOT them. I think we can consider Paragon unlicensed unless they are using a different name.

Anything related to SJM is NOT licensed. They are scum.

AIP is NOT licensed. They are one that does "verbal agreements".

Found Zip Cash LICENSED in New Mexico. See this:

Thanks Cannr, I had read that ZIP was licensed in DE on another post....so Sherry only has three to worry about.... PayDay OK, ZIP and GRC. That is waaaayyy better than the 13, she started with. :D

Should we post the state pdl law of the states of the licensed pdls? Would that help so we can see the laws of the states since they are considered legal?

Here is the Payday loan laws for Utah (just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Here is you will find the Payday loan laws for New Mexico (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Here is the Payday loan laws for Delaware here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

thank you sooooo much for your help! I am still a little confused with the letters, do I send them to all of the pdl or just the illegal ones and how about the most recent that I haven't paid the original amount on yet? Do I include a copy of my states laws in the letter or theirs or not at all? will this work or will they keep harrassing me? I am so scared right now I don't mean to sound like a big baby I just don't understand how it all works and what will happen next.

We have a letter you can use to send to the illegal pdls. However, DO NOT send/tell any pdls anything until your bank account situation is where no one can debit it anymore. (You may have already closed it. My mind isn't here yet!) So if you haven't closed the account yet, do not send the letters. You will send them after you know your money is safe. And it's okay if you haven't paid all of the principle amount yet. You're just going to tell them you'll pay the principle amount - period. Your "legal" pdls, you are going to have to contact them and make payment arrangements with them. Do not let them take you for any more than they legally can (they will try). Do not let them force you into using Money Gram or Western Union (they will try). Get a payment arrangement with them (there are only three) and send in money orders. Do not give anyone any new bank account information or debit/card card information. Remember, you want NO ONE to know any bank account information. The letter does include not contacting you except through email or USPS. However, they will call anyway. Just being honest here. You will have to be strong and stand your ground. Try not to take the calls. Try to do everything in writing. You want documentation of everything. Once we get these letters sent out (or now if you want), you will need to file complaints against the illegal ones. You will want to file with the BBB, the FTC, and your state AG. Now, I see that you have signed in under two different names. Have you registered and become a member? Is the "sherry" one your registered name? If so, we can pm you a letter to use to send to the pdls. You will just have to change it to fit each particular pdl and dollar amounts. Also on it is a spot where you can copy and paste your state law, so that will be included in the letter. Let us know if the "sherry" name is your registered name. We can give you a letter to use as a guide. :D

bucksoldhen, You are doing a great job....Hang in there we will get you through this.

Cannr, I posted the letter to bucksoldhen in a link in one of the above threads.

what do you think about using a credit counceler? or will i be better off doing this on my own? i am sooooo stressed at this point! the letter will be great if you could do that for me

bucksoldhen, the letter Cannr is refering to is the same letter I posted the link to in one of my above posts. 3rd post down on this page...the link under PDL:. There are many members who do this on their own and some who do not. If you feel more comfortable using a credit counselor, that is also an option. There are only a couple that will include pdl's. The two most common are langhorn and Towne and Country. You can type the names in the seach box at the top right hand corner of the page and see what other members have to say about them. It is always worth contacting a company to see what your options are. You never know unless you ask :D You can also deal with the illegal ones on your own and let the credit counseling co. deal with the legal ones. Some members have done that.

bucksoldhen, just let us know what you decide. If you research Langhorne and T&C and decide to use one of them, that's fine! It's up to each individual how they want to handle it. If you decide to do it on your own, we can help you every step of the way. :wink:

And... if you do decide to go with one of the companies, it does not mean you can't stick around. :D

What about Mississippi loans regarding pdl

Please list for us who your lenders are, how much you have borrowed from each, how much you have paid to each, and are they store front or internet. I will post your state laws.

Mississippi State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Miss. Code Ann. ???? 75-67-501 et seq.

Loan Terms:
Maximum Loan Amount: $400
Loan Term: Max: 30 days
Maximum Finance Rate and Fees: 18% of check
Finance Charge for 14-day $100 loan: $22
apr for 14-day $100 loan: 572%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot renew or otherwise extend)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: NSF fee; Court-awarded fees (if disclosed)
Criminal Action: Prohibited (When check returned due to NSF)

Where to Complain, Get Information:
Regulator: Mississippi Department of Banking and Consumer Finance
Address: 901 Woolfolk Building, Suite A 501 N. West Street Jackson MS 39201
Phone: (601) 359-1031
Fax: (601) 359-3557
Regulatory Contact: Ronny Harrison,, Chief Examiner, Consumer Finance Division
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources

The advice you are giving Bucksoldhen is awesome, can you help me like that too? I can't pay my house or car payment, and almost nothing else due to the fees.
Here is my list:

American Consumer Credit/The Cash Spot
borrowed 300 have paid 225 in fees
still owe 337.50

CMG Group
borrowed 300 have paid 360 in fees
still owe 390

500 Fast Cash
borrowed 300 have paid 450 in fees and 50 principal
still owe 325

Texas Loan Corporation/TLC/Cash Central
borrowed 300 have paid 304.26 in fees
still owe 401.53

Paragon (I do not recall applying and have no documentation for them, but they have my info)
borrowed 300 have paid 360 in fees
still owe 390

Payday One
borrowed 1000 have paid 523.91 in fees
still owe 1172.17

Payday One
borrowed 1000 have paid 424012 in fees
still owe 1172.99

In total I have borrowed 3500
I have paid 2607 in fees
I still owe 4189

Are there any licensing issues with any of the companies I am dealing with?

I went to my bank today, Wells Fargo, but can't close my account because I have an outstanding direct deposit advance which won't be cleared until my next direct deposit which is next Thursday, March 13. The fees on all these pdl's will come out again on Tuesday, March 11. If they put a stop payment on each one, it will cost $29 each, but I guess $203 is better than around $931, which is only a few dollars less than my entire paycheck. I am so sick about this, but I'm tryhing to face it head-on without getting in to hysterical panic mode. So, RoxyNY or Cannr, can you help me?

Maxman, what state are you in? Also, can you hard debit block you account...this will allow the deposit but you will not be able to write checks, use the atm, etc...and the pdls will not be able to debit. You would physically have to go to the bank to get your money. Also, stop payments may not work..The pdls do not always work since the pdls will debit under different names....But please do not do anything with your account until you tell us what state you are in...we need to look at the laws to be sure you will not get into more of a bind. Once we have that we can also look at your licensing...different states have different pdl laws.

Max, Also, you may want to start your own thread..it will be easier for you to find you and us to find you and you will have all your info in one place. We can always copy and paste your info to your new thread.

Never mind saw your thread Max

Here is max's thread for everyone:

https://www.debtconsolidationcare.com/paydayloan/about42884.html

Thank you Cannr! :D

bucksoldhen, when you registered, you must have used your "name" as your userID, so when you log in, it's going to show up. When you are on here as a "guest", you type in bucksoldhen, right?

So you are using a company to handle the pdls for you? Good for you. Some people are more comfortable using a company to take the nasty calls and deal with these people. Now, are they already handling them for you? The reason I ask this is because if they are and you get any phone calls or emails or whatever from your pdls, you can just refer them on to the company that is handling them for you. Give them the name and telephone number, tell them they are handing the matter, and hang up the telelphone. That's what you're paying them for. :wink:

thanks for the advice I have signed all the necessary form with the company and they will begin everything on the 15th our agreed upon date to start, hopefully when i get mine worked out i will be able to give a little advice too from my experience with these blood sucking people. you have no idea how much you have helped to calm my nerves but i will still be walking on pin and needles til the last one is gone for good and I WILL NEVER make this same mistake again crew me once shame on you crew me twice shame on me!!!

bucksoldhen, this is awesome! :D You are on the road to a "normal" life again! Congratulations to you! When these pdls try to contact you, just refer them to the company that is handling them. As I stated, all you have to tell them is to contact "such and such company" at "such and such telephone number" as they are handling this matter. Hang up the phone. Or if they email you, just put the information in an email and hit send and forget about it. Let your company do your dirty work for you! And, please keep us updated. You are doing so well! And, yes, please stay around and share your experiences and knowledge with others. We can never have enough people to help others! Great job!

bucksoldhen - I can delete the posts if you want me to. However, you will lose your debtcc points that you have accumulated (which totals $3.41). And the thread will look a little "goofy" because it'll have a few empty spots where the posts were. However, you don't have too many with your name on them. I can do this - if I have your permission to. We don't like to delete members posts because their points will be gone. However, if you don't mind this, I can do it. If you want me to, just say the word. After, you can register again (you'll have to use a different email, I believe) and choose bucksoldhen as your username if you want or another username. Just say the word and I can take care of the posts for you. :D

did my previous message post?

Hello. I dont think my msge. posted. I too am in a
trap and am trying to get out. I live in Texas. I am concerned that the prom. contract i signed electronically -- the arbitration says the state that they are from (not mine) so does that mean I cannot do anything to them?> or stop payments? I have 8 out. One i cannot find is CAN, after reading your msge. board i think I have it. What can i do? in accordance with their terms i have not finished paying the loan. but it keeps renewing and i cannot find them. one of them from my bank acct. says MTE finan. services. i called the 1800 # and did it electroncally, no one came to the phone, it all done automated. How do i stop this mad cycle? before my acct. overdraws. another 1 was Ace. they seem to be pretty nice. I paid it out in 2payments, then like a dummy, renewed, cause I didnt have any money! I've got to stop. thank you for your advise. Im not sure how I found this website. Please tell me how to get back to this forum tomorrow.

I can't change your username, unfortunately. If it was a "guest" name, it would let me. But a registered name, it will not. So you let me know. It's your decision. Okay?

bucksoldhen, here's what I'm going to do. I'm going to only delete the posts (not this entire thread) that have your name on them as the username. The only ones deleted will be the ones with your name. The ones that say bucksoldhen will still be here, the ones from others giving advice will still be here. Okay? So this thread will still be here for you. It'll remain the same. The only thing that will be "missing" are the few posts with your name on them. I will do that now. Then you will see your thread still here with all your "bucksoldhen" posts and everyone else's posts. So, you'll still be here, just register with a different username and post back here on your thread and say "Hey, this is me!!" I'll do it now so your name will be gone. But, check it out. Everything else will still be here. It might look "odd" if you read through it beginning to end because a few of your posts will disappear. However, it'll still be your thread. Going to do it now! :wink:

thnk you you are a true saint

Okay, bucksoldhen! I've gone through and removed the posts that had your name as the username. I then went through all the posts and removed your name where it was used and replaced it with "bucksoldhen". I do believe we are in business now! It looks kinda funny now because it looks like roxy and I are responding, but your post is gone! :lol: However, your name is no longer anywhere on this thread. And, it's NO problem. I wouldn't want my name on here either!

thanks so much it's very embarrasing to be in the pdl trap that i am in not really loking forward to my freind and family knowing it me I did a new sign in under another email so it should be weaslegirl i am truely amazed at how many people that are in the same boat a me and yet the law still lets the pdl companie go on, there are im sure people who aren't even able to go to the store with out the fear of bouncing another check, i hope other than the morgage payement i have to be debt free within 2 years no more credit card or pdl's if i dont have the cash to buy something i will turn to my family for help. and to you all for advice! i have mised only one payment so far so hopefully the company i am using will get me out pretty easy

Well, hello weaslegirl! :D I know. There have been others who have changed their names for fear of being recognized by others! Hell, I don't want anyone I know to know what a mess I got myself in! LOL! I'd like to keep that between me and this site only! And, yes, it blew me away when I found this site and saw "HOLY COW, I'M NOT THE ONLY ONE!!" I was soooo relieved that I wasn't some kind of freak or something! You will soon be free. I promise you that. You are doing everything right and working towards your goal. Don't let anything stand in your way. If you want it bad enough, you'll get it. And I know you want it bad enough. I'm glad you found us and we found you. It's horrible going through this alone. You're doing great and it'll only get better! Just keep remembering that when you're feeling stuck. You might have some minor set backs once in awhile, but then you'll get out and keep sailing towards that wonderful "free" life!

how long before these crazy people try a wage assignment? should i go ahead and take one of those letters to my employer? the co. I am using will begin contacting these pdl people on or after the 14th. It has only been a week since i missed the firt payment but i fear these people greatly!!!!!!!