PayDay Drama
Date: Mon, 03/29/2010 - 06:10
I live in Florida and got sucked into the Payday cycle. I have one storefront and 6 online PDL's currently. The one storefront (Advance America) is cool to deal with and they usually are willing to help if you cannot pay back the loan right away. The internet ones, however, are a different story. Here's my breakdown:
ONLINE:
Ameriloan.com: Borrowed $440 on 1/12/2010. Paid nothing but principal on loan since then and currently owe $580!
First Bank of Delaware: Borrowed $600 on 2/26/10 and have paid 2 payments of $96.55 so far. According to their pay schedule, I will be paying this same payment every two weeks until August 13,2010!
OneClickCash.com: Borrowed $400 on 1/12/2010. Same deal as Ameriloan.com (I believe that these two companies are actually related). I have paid nothing on the principal yet and I owe $520 to them!
Zip19.com:Borrowed $550 from them last week and owe $657 next payday. I have heard some really bad things about them in this blog and other places and want to cut them off and negotiate repayment to them on my own terms!
MagnumCashAdvance.com: Borrowed $720 on 3/2/2010 and pay them 4 payments of $299. Have made two payments so far. These guys seem flexible but I just cannot afford it anymore.
InstantCash.com: The ultimate ripoff! Borrowed a measly $200 from them on 1/29/2010. I have YET to pay on any principal for the loan. Have made 5 payments of $60 so far, and the next one due is $60 charge plus $50 principal. This one is just big enough that I can't afford to pay the wholething off.
I really need help. I am the only worker in the houshold, as my wife stays home and takes care of the kids. I am a 6th grade teacher. I never got into this looking to rip anyone off, just trying to survive the daily grinds of life. I now DREAD payday because I know that most of my money will be gone. I can't cry anymore!
One more thing. I am banking with Bank of America now and want to go to them to block ACH transfers and/or close my account and open a new one. Is this possible with them? Also, I want to make sure that I only get the harrasing phone calls that will inevitably follow. I don't want my references that I had to list to be bothered with these idiot collectors. How do I prevent this? I am fortunate that next payday is still a few days away (4/9/2010) so I feel that I have some time to get situated. Please help! :confused:
First Bank of Delaware is not a Pay Day loan, is "like" a regula
First Bank of Delaware is not a Pay Day loan, is "like" a regular consumer loan, just that when we signed with them we agreed to pay the high interest. I know because I have one with them and I have 2 more payments of $90.00 to pay it off. If you cant make the payments of the others pay day loans you can consider a consolidation company that help to consolidate a pay day loans. I'm with Destination solutions and my montly payment is $175.00 dollars with no hidden fees, at least with this program all the lenders has stopped calling me. Good luck!
I will check out Destination Solutions. The problem I have is wi
I will check out Destination Solutions. The problem I have is with the 3 or 4 PDL's that I have paid nothing but interest on and no principal! I want to get out of this hole!
OneClickCash is unlicensed in your state. Zip19- unlicensed Ma
OneClickCash is unlicensed in your state.
Zip19- unlicensed
MagnumCashAdvance-unlicensed
InstantCash- unlicensed
Ameriloan- unlicensed
DO NOT HIRE A DEBT SOLUTIONS COMPANY FOR ILLEGAL LENDERS!
CLOSE YOUR ACCOUNT ASAP!
CLICK HERE to find out how to deal with illegal lenders.
So now that I know that they are unlicensed, I can legally close
So now that I know that they are unlicensed, I can legally close my account and refuse to pay them? Most of them have received the principal in total already...
Quote:Originally Posted by bonvie1So now that I know that they a
Quote:
Originally Posted by bonvie1 So now that I know that they are unlicensed, I can legally close my account and refuse to pay them? Most of them have received the principal in total already... |
That is correct.
I guess i will cancel my contract with them. I have a loan wit
I guess i will cancel my contract with them.
I have a loan with cashadvancenetwork for $400.00 fee is 120.00 first payment is 4/2
Paychecktoday for $300.00 fee is $90.00
cash jar $325.00 amount already paid $245.70 still owed $407.00
magnumcashadvance $300.00 already paid $450.00 in fees still
owed them $420.00
I just want to pay them the principal amount, are they unlicensed in VA if so where I can find that information? Thanks so much
In Va. Internet payday lenders are not legal, either because of
In Va. 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. You can check the Va. licensee data base at the link below:
http://www.scc.virginia.gov/bfi/reg_inst/pay.pdf
Getting back to Florida, loans made in Florida by unlicensed out
Getting back to Florida, loans made in Florida by unlicensed out of state lenders are non collectible! There is also an 18 percent cap on the legal ones with no rollovers permitted! Florida Consumer Financial Act Section 516 is the governing statute!
Frogpatch...that is interesting. So what does that mean for me i
Frogpatch...that is interesting. So what does that mean for me in the long run? How would I word it for them like in a certified letter so that I can get them off my back? How can I use this to my advantage? I pretty much have paid them as much as possible with the principal already (even though they claim I have paid "fees" to this point). Please help!!!
I would like to to now is I can go to court for $ 190.00 that I
I would like to to now is I can go to court for $ 190.00 that I owe on a pay-day loan that I took in 2009. I am getting phone calls from Halsted Financial in regard a Vince Pay day loan (web-site payday loan).
Please help me, today was the first day that I spoke with this guy he was very nice but he told me that I have to make payments arragements today befor 5:30 pm or he can hold my case anymore.
I need an advise.
This is a tactic that many payday lenders use--saying that they
This is a tactic that many payday lenders use--saying that they can only "hold your case" until close of the business day or whatever time they want to say.
We would have to know which state you are living in in order to determine whether the lender is licensed or not, but based on what you are saying, even if they were foolish enough to take you to court, the court costs would outweigh what you owe, which is $190.
Based on what you've said, this sounds like a scare tactic to me.
I will be putting a block on my account hopefully Monday, and wi
I will be putting a block on my account hopefully Monday, and will begin typing the letters and send them certified on Monday as well. I am bracing myself for the fight with the phone calls to me an my references, etc. I just hope it doesn't get too crazy and that they respect the certified letter. If they do not cease and desist with the harrasing phone calls, is there some sort of legal ramifications that they have to face?
I went in to Bank of America today and told them I wanted to put
I went in to Bank of America today and told them I wanted to put a hard block on my account. They looked at me cross-eyed and had no idea what I was talking abut. So eventually they gave me what they call a "balance hold," which means that nothing comes out of the account but nothing can go in as well. Is this sufficient to fight these payday lenders?