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Need help with PDLs in Maryland ASAP!

Date: Tue, 03/04/2008 - 15:15

Submitted by anonymous
on Tue, 03/04/2008 - 15:15

Posts: 202330 Credits: [Donate]

Total Replies: 3


My fiance and I are trying to figure out what to do about the payday loans that we have. This all started in Nov when we moved and needed extra cash to cover added expenses and bills. We just needed a little bit of help to get our heads above water. After selling everything of value that we owned, we turned to PDLs. Now, instead of getting our heads above water...we are drowning! So much money has been taken out of our paychecks that we can't pay rent this month unless we can find a miracle! Please tell me what I can do and where to start! Here is our list, all of them are internet companies. We live in Maryland.

3 loans with Cash Transfer Centers: total original amount= $1500 total amount paid so far= $1905
NetCashUSA: orig amt= $450 amt paid so far= $1030
Fast & Reliable Cash: orig amt= $400 amt paid so far= $945
PayDay Trans: orig amt= $200 amt paid so far= $658
PayDay Cash Link: orig amt= $300 amt paid so far= $590
AmeriLoan: orig amt= $300 amt paid so far= $690
UnitedCashLoans: orig amt= $300 amt paid so far= $500
PayCheck Today: orig amt= $400 amt paid so far= $650
ImpactCashUSA: orig amt= $300 amt paid so far= $340


Ok, Pay day loans are not legal in yoiur state. All you are moraly obligated to pay back is the principle. You have way over paid and are actually due refunds.
First thing to do is close your checking account so these people can not take any more of your money. They will tell you the laws of their state is what you go by. That is not true. Your state laws prevail. Stop that account asap and do not give out your new info.I will post something to read before you close your account.


lrhall41

Submitted by kashzan on Tue, 03/04/2008 - 16:02

( Posts: 5401 | Credits: )


I live in Maryland and this site is GREAT! I'm getting out from under the PDL mess, myself. I would urge you to call the Maryland Commissioner of Financial Regulations' phone number listed above; I've been working with them and they've been extremely helpful. One other hint; when you do close your checking account, start keeping a log of all of the e-mails/telephone calls/any other communications you receive fromt the PDL companies. I usually forward a weekly or bi-weekly listing of these communications to my contact w/ the Maryland Financial Commissioners' office, plus keep a copy for my own records. (and, yes, you WILL get the calls and e-mails from the PDL's, but don't let them get you down!)


lrhall41

Submitted by on Wed, 03/05/2008 - 05:43

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