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PDL Help Please

Date: Thu, 04/23/2009 - 05:43

Submitted by kuhlmanalex
on Thu, 04/23/2009 - 05:43

Posts: 5 Credits: [Donate]

Total Replies: 6


Hey there, I posted something a while back and I have a few questions still. My situation is this, I live in MN and I have 3 Payday Loans:
Payday One: 500
CashNetUsa: 1000
MyCashNow: 1100
I think last month I paid like $700 in fees without paying down and principle, so I need to set up an assistance program and am seriously considering Langhorne Debt Solutions because this is something that I am not very good at. The biggest thing is that I want to know if they will make it where my references and work won't be called, my boss wouldn't deal with that very well. Also, if some of the loans are legal, is it illegal for me to close my bank account? These things are hell and I understand its my fault for getting myself in the mess but my God, $700 in interest in one month on $2600 of debt, thats absurd! Please help.


Payday One and CashNet USA are legal.

MyCashNow is not. They are unlicensed and based in Canada.

You can not get in trouble for closing your account, even with the legal ones.

If you close your account you can then contact the two legal lenders and make payment arrangments. Both companies are pretty good at making arrangments and can split the loan into four or more payments.

I can not say how bad the harrassement will be from MyCashNow. How much have paid then so far towards the loan? You only legally owe what you borrowed.


lrhall41

Submitted by nohiogal on Thu, 04/23/2009 - 06:04

( Posts: 2582 | Credits: )


hey, how much did you pay each company? if you do a search on langhorne debt you will see good and bad reviews of it. most people decide to do it themselves, it is really not as hard/bad as you think plus langhorne will not necessilary stop the calls and that's what people fear the most. i do not know your state laws or if those companies are legal but please hang tight someone will be here soon.


lrhall41

Submitted by bea2ls on Thu, 04/23/2009 - 06:06

( Posts: 3840 | Credits: )


thank you so much for everything, if I close the account and set up a payment plan, will they keep adding fees and interest?
This is what I have paid:
MyCashNow-(actually borrowed $1000) and have paid 372.40 in fees
PayDayOne-borrowed 500 have paid 162.50 in fees
CashNetUsa-borrowed 1100 and believe I have paid 275 in fees
---how do i tell MyCashNow that I am only paying them the balance of what I borrowed? I think I will try to do it on my own, so what are the steps that I should take? Also, once I close my account do I contact them and tell them I have closed my account and would like to set up a payment plan or how does that work? I know a lot of questions, I am just looking forward to getting out of this.
CashNetUSA-


lrhall41

Submitted by kuhlmanalex on Thu, 04/23/2009 - 19:36

( Posts: 5 | Credits: )