I need help getting out of this Payday Loan Circle!!!
Date: Thu, 10/01/2009 - 12:51
$260.00
Payday One - $250.00
$250.00
All that we have paid so far was the interest rates. We are just now getting to pay on the principle and we have had the loans since July. We live in ILLINOIS.
I am getting continuous overdraft charges on my bank account because of these things.
If anyone can give me advice to help me in this, and help me fast, I would greatly appreciate it. It is causing stress in my whole family. THANK YOU VERY MUCH in advance.
Get out now
The first thing you need to do is close your account ASAP and make sure it can't be reopened for an ACH. AFTER is secured send these lenders C&D letters. Check the laws of your state. If they are illegal and you have paid enough to cover the original amount you are done. there are many good letters to access on this sight. Email them, Fax them send them cover all your bases.
If I could add on to the prior post: Once you have closed your
If I could add on to the prior post:
Once you have closed your bank account, be sure and revoke any Wage Assignments you may have signed to get the loans. This is a document that states that you give the lender permission to have your employer garnish your wages should you default. Get the letter to your Payroll Dept on your next working day and be sure to call and confirm they received it.
Add up your total payments, including the rollover payments you paid to extend the loans. If they add up to the total principal, (what you actually borrowed) you are indeed done. If not, pay what you owe to payback what you borrowed.
If I'm not mistaken payday One is an installment lender in Illin
If I'm not mistaken payday One is an installment lender in Illinois, which means they are legal. You need to make payment arrangements with them, request an extended payment plan if they have in fact loaned as an installment lender. United Cash Loans isn't licensed. CLICK HERE to find out how to deal with illegal lenders.
