Paying $1400 a month! Help Please!
Date: Thu, 08/27/2009 - 21:11
I have three online loans.
Cashnet 1060
Discount Advances 760
Cash Supply 1060
I have been paying about $700 in fees and interest every payday since the end of June. What is listed above is the principal which I still owe. Needlest to say this eats up the bulk of my earnings and the rest is going to NSF fees. I estimate these loans have cost me about $4500.00 so far.
Thanks to this site, I was able to freeze my account. I start a new job soon and will wait on setting up direct deposit.
My question is what do I do next?
Contact the PDLs or deal with a consolidation company.
Also, I am terrified of the collection tactitcs which I expect to begin next week when the PDL's post to my account and find out that it is blocked.
Please help.
I am almost positive pdl are no longer legal in PA and I think t
I am almost positive pdl are no longer legal in PA and I think they just recently made all internet lending illegal. Many people with legal loans have been posting that they could no longer renew thier loans in PA.
Is the company you mentioned cashnet or cashnetusa-if its the latter they may be legal for you. Not sure on the other 2 but I'm thinking they are not legal.
Hold tight I'm sure someone will be along with more info soon. Freezing your account was the right first step, you need to go ahead and get it closed as soon as you can.
resume1, i also am confused.. i thought they changed the laws to
resume1, i also am confused.. i thought they changed the laws to make internet lending illegal but some said the law is in limbo? if in doubt, always call your state's division of banking..
there is a sticky on cash net, i am not sure if this is the same one that you have but if it is, they are most likely legal. other than that, i also am not sure.
how much exactly did you pay towards each company? you said you paid nothing towards the prinicipals but how much in fees did you pay? it seems like you overpaid..
I was told that internet lending is legal in PA as long as the
I was told that internet lending is legal in PA as long as the lender is licensed in th estate in which they are based. I 'm not concerend with leglaity realy. I want to know how to start the consolidation with a company or doing it myself.
also, what is this im reading about ACH reversals. My bank says thery nver heard of such, they only have dispute forms, but if i signed th eonline contract a dispute probably won't work. What do I do next?
okay, i would call your divison of banking to find out the corre
okay, i would call your divison of banking to find out the correct law. we need to know if they are legal because that is how we will know how to advise you to deal with it.
you are legally allowed to revoke an ACH. i have no idea why banks are being so stubborn about this, my guess is that they want to make money of NSF fees? i would speak to someone else, and ask for a hard block or to permantely close the account. if the account is not secure, they will not stop taking your money and the cycle will not end.
you do not need a company to do this, it can be done by yourself, we just need to see which are legal and your bank account needs to be secure. :)
Who was it that told you that internet lending is legal in PA? W
Who was it that told you that internet lending is legal in PA? Was it the DFI? thats who you need to talk to. My understanding is that the interpretation of the law was changed in PA earlier this year.
You'll need to know if they are legal or not to know how to deal with them.