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PLEASE HELP to many loans

Date: Tue, 10/28/2008 - 16:01

Submitted by jcarrell
on Tue, 10/28/2008 - 16:01

Posts: 27 Credits: [Donate]

Total Replies: 7


I need a lot of help too. I have 10 loans out and they total around $4500.
I have 8 store front loans here in IA. I cannot afford to pay the interest on them any longer and I need help. I can't get a loan from a bank to pay them off. I have never been late to any of them and am a good customer. I have been paying on a few of them for a couple years. Here is a list of them.

Advace America..500
Check N Go..500
Check Into Cash..500
Ez Payday Advance ( NE ) ...500
Ez money..500
Fast Bucks..250
Payday Express..250,250
Cash Spot ( NE ) 293,176
then online
800899cash.com...390
paydaymax...250
nationwidecash...390
solemon...260

What should I do? Can I just close my bank account and then make payments? Thats what I want to do. I never planned to fudge these lenders out of their money, but I need to set up small payments to them. Should I go into the stores and just tell them that I have all these loans and see if they will work with me since I've been such a good customer? WIll I get into trouble if I shut down my bank acct and the online ones bounce? Please help
thanks

JC in IA


PDL laws in Iowa: -
Quote:

Legal Status: Legal

Citation:
Iowa Code Ann. ???? 533D.1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15: $0-$100; $10 per $100 thereafter
Finance Charge for 14-day $100 loan: $16.67
apr for 14-day $100 loan: 433%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance or consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $15 NSF fee (exclusive remedy)
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Iowa Division of Banking
Address: 200 East Grand Avenue, Suite 300 Des Moines IA 50309
Phone: (515) 281-4014
Fax: (515) 281-4862
Regulatory Contact: Rodney Reed,, Finance Bureau Chief


lrhall41

Submitted by phoenix on Tue, 10/28/2008 - 22:27

( Posts: 1445 | Credits: )


For internet pdls, I have found the following information given by one of our knowledgeable member, Goudah: -
Quote:

In the following states internet payday lenders are not legal, either because of restrictive laws, or because the state does not license companies not located in that state, but requires a state issued license to lend.

Connecticut

Georgia

Iowa

Maryland

Massachucetts

New Jersey

New York

North Carolina

Vermont

Virginia

West Virginia


To know more please go through Internet Lending in all 50 states


lrhall41

Submitted by phoenix on Tue, 10/28/2008 - 22:40

( Posts: 1445 | Credits: )


So, I shouldnt repay the internet loans? I'm thinking hard about closing my chcking acct. Should I close it BEFORE all the loans are due to hit, or should I let them go thru 1 time before closing?
Also, any advice on what to do about getting these place to let me make payment? anything else would help. Thanks


lrhall41

Submitted by jcarrell on Wed, 10/29/2008 - 09:06

( Posts: 27 | Credits: )


I really need someone to help me answer these questions, I am now thinking about taking bankruptcy to get out from these loans. Can someone please advise? Help


lrhall41

Submitted by on Thu, 10/30/2008 - 09:53

( Posts: | Credits: )


The internet pdl's are illegal, you would need to work with the storefronts.

If you are going to close your checking account, I would do it before the 4th, that way it doesn't mess anything up. Then I would contact the store fronts, advise them of your situation and try to make a payment arrangement with them.

For the internet ones, they will try & contact you to get their money, depending on what you have paid in fee's, you may have over paid them. I would report them to the BBB, FTC & attorney general's office. I would also send a pdl letter, you can find a template on the site, advising them that you are revoking your authorization to debit your account, any wage assignments you may have signed and advising them that all contact must be in writing or through email.


lrhall41

Submitted by dawnlango7 on Thu, 10/30/2008 - 11:35

( Posts: 1147 | Credits: )


Looking for financial solution?
Are you in financial difficulty?
Looking for someone to lend you money?
There is a real loan available for you here.
You can contact via:xxxxxxx
Regards.

Crowlyn xx Contact info removed..No Advertising allowed..Bossy4455


lrhall41

Submitted by on Fri, 10/31/2008 - 19:02

( Posts: | Credits: )