PDL

We need more info.

What state do you live in ? Are these local pay day loans or internet ? Who do you owe and how much ?

I live in SC. All of mine are through the internet> ThinkCash: $900 (installments); MyCashNow: $500; Payday Yes: $750. All of those numbers are Principal.

How much have you paid back?

First thing you need to do is take control of your finances. That means cutting these blood sucking leaches off from you money. You need to go into your bank and speak with the Branch Manager. You need to ask him to put a hard hold " aka... ACH block on your account". Or have him make the account a deposit only account so that no money can be drafted from it.

Once these accounts go delinquent they most likely will try to do a wage assignment with your employer. It is not the same thing as a wage garnishment which is through the court system.Most likely these loans are illegal and even if they were legal loans unfortunately for these con artists South Carolina is a non-garnishment state . Wage assignment is completely voluntary and all you need to do is write a letter and give it to your payroll department at your job that you revoke any wage assignments with these companies. Be expecting these scum bags to call and harass you at first because they want to continue to make that insane interest off of you. In the beginning they will talk a big game with all kinds of ridiculous threats but hang tight and even if they upset you don`t let them know . Just laugh when they call you and tell them you don`t have the money and that you do want to pay them but just don`t have it right now. If you hang in there and stay the course they will be willing to settle after not getting paid for 60 days or so. Especially if they are illegal loans. You can practically settle those for nothing.

I want to pay them, but I just need to spread it out. This is killing me.

You will be paying them. Just not on their terms. Their terms keep you in a cycle of debt. Your terms gets you out of the never ending cycle.

Could someone please check out Payroll Loans Direct. They are managed by a company that says they are in Malta. Is this a legal loan in Texas? That was the other loan I was wanting to discuss in the earlier post. Basically, once you default on their loan, you have until your next payday to pay it off in full. They say that they cannot even offer any payment arrangements, and that if you default after that date they send it to a 3rd party collections agency - Valentine and Kabartas. I found that out after asking many questions the other day. The also say in the contract that a salary assignment is possible, however that is illegal in Texas, and I have drafted letter fro them as well retracting that part of the contract. I am going to send a partial payment on it on the scheduled date, and see if because I have been such a diligent customer for the past several years if they will work with me. I mean, hell, I can't even imagine how much money they make off people. Say I have renewed a loan at $300 a month for 60 months, that's $18,000 - can you imagine if I had known how to pay this off years ago - how much money I could have had saved! It is bringing tears to my eyes as I write this. But, it was their scare tactics or the fear that they'd contact my employer that just kept me paying and in this trap. I also put a statement in the letter that I am sending them not to do that either. There is no time like the present to take the bull by the horns and pay it on off. I definitely will not be getting anymore of these things!