Drowning in Payday debt! Help!

Ok keep calm. The reality is most of these PDLs are very LEGAL. What you will need to do is communicate as much as you can with them. Try and work out a affordable payment plan the best way possible. What state are you in?

Since they are LEGAL they can sue you and get a judgment. So this is why you need to keep in communication with them. The calls will not stop, so face them and be Honest. We are here to help the best we can. Keep your Head Up :D

Lisa, I believe the guy from the Ohio office is mistaken. I believe that Payloans are treated just like unsecured loans when it comes to BK. You might want to talk with a BK attorney for clarification. I am not saying that you need to file BK, just that this guy is wrong.

First, are your loans actual PDL's or installment loans?

Second, are these the store fronts that are calling you or their main office/collections departments?

They are the store fronts calling for the most part. I know Cashland has a collection office that deals with returned checks, unpaid loans, etc. I am in Ohio and Ohio is working to pass a regulatory bill to stop payday loans but it is not passed just yet. They are actual PDL's.

I was told by an Attorney I consulted a few months ago that pdl's could be included, I also live in Ohio.

You might want to contact a bankruptcy attorney. My uncle filed bankruptcy and he filed on storefront pdl's. We live in Ohio.

sorry, that was me... forgot to login... :lol:

Lisa - other people have had better luck dealing with the PDL's internal collection dept. IMHO, I say, let them default - that stops the interest and fees and when their collections call you, set up a payment plan that you can stick with and pay them off!

Does it work to contact them and tell them they absolutely cannot contact your contact people or place of work. I am thinking about doing the cease and desist letter and telling them they may only contact me via letter.

I would send the cease and desist letter.

A lot of dumb people on this msgbrd. But, it seems desperatelyseeking might have the smartest post I've read yet...

other people have had better luck dealing with the PDL's internal collection dept. IMHO, I say, let them default - that stops the interest and fees and when their collections call you, set up a payment plan that you can stick with and pay them off!

$25 or even $100 a month is not an acceptable payment arrangement. I mean come on.. you took out the loan and was going to have to pay it back 2 weeks later. $25 a month is not and will never be acceptable. If your balance is $250 or more they can sue you at any time they want. I worked for the collections and the legal dept there. Trust me... they can and will sue you. If the account is being handled by a debt consolidator, that is one thing that they look for to send it to the legal dept or if your rude with them, refusal to pay or even just a really low offer of payment. If its not an arrangement in the system they will send you to the legal dept. They can and will garnish your check and put liens on property. Don't take out a loan u cant pay back on time and u wont have that problem...I heard all the excuses from people on a daily basis... I didnt care what excuse u had.. if you dont pay, youw would either be sued or passed along. We called people every single day and if you make them mad they will call you every day at 8am every morning or at 855pm every night. Legally they ARE allowed to call you on your home number, cell nmber, work number, your mothers number, your neighbors number to get ahold of you. Thing is they can call those numbers everyday 1 time a day on each number.... but if they are calling for a reference then they can only call once unless given permission to call back or they suspect the reference has new info on the debtor...

Lisa, I am also from Ohio and currently have 5 PDLs , all storefronts (check N Go, Cashland, Checksmart, Cash Inn, Advance America, Check into cash)...I was in the PDL hell cycle of borrowing, paying off and reborrowing and all it did was keep me in debt and behind on all my bills! I finally decided it had to end...I went to 3 of them and set up EEP plans (equal pymts over 4 pay periods). I let Cashland check bounce and worked with their collection department to pay off over 2 month period. in order to pay the EPP pymts on the first three I did have to reborrow a couple of times on the other ones. Once the EPPs are paid off for the first three then I will set up EPPs with the rest - I least then I will only have 3 left!!! not sure if this helps you...this is how I am paying mine off..I can finally sleep again knowing at least I have a plan in place :)

i live in NJ but i have included pdls in my 2006 bankruptcy

Why can't they sue if balance is less? Is it only that it isn't worth suing if balance is less? Is this an industry standard practice? Anyone know anything about this?

I'm not sure what you are asking, would you please clarify?

The statement was made in post #12 by Anonymous, although any knowledgeable response would be appreciated.