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Need help consolidating. Can i deduct overpayments?

Date: Wed, 03/31/2010 - 21:29

Submitted by anonymous
on Wed, 03/31/2010 - 21:29

Posts: 202330 Credits: [Donate]

Total Replies: 4


I am not sure if this forum is still open but this is where I have found a lot of useful information. I live in colorado and currently have 3 internet payday loans (Cash Transfer Centers $720, One Click Cash $300, Great Sky Cash -formerly fastwirecash $420 (not including fees)). I am trying to consolidate my payday loans myself. I have had these loans for over 3 years, and have been paying them above the maximum finance rate posted for colorado during all 3 years. I read in a post somewhere that when trying to consolidate pdl's yourself you might be able to subtract any fees that were paid above the max rate from the total amount due, does anyone know if this is true? I am trying to determine how much to tell the pdl lendors I am willing to payback. Also thanks for all the previous posts! This site has been so helpful! I was in a really bad place and wasnt sure what to do. All my money was going to pdl fees. I had no where else to barrow from, nothing else to sell. I was lost until I found this site. I first called a couple pdl consolidator companys and decided to try it myself. I finally have hope. Any information will be greatly appreciated! THANKYOU!


If you're paying these lenders more than the state determined rate, then most likely these lenders are illegally operating in your state.

Who are your lenders? If you provide us with the list of your lenders along with the amount borrowed from each and amount repaid, the community will be able to help you in deciding your next step.


lrhall41

Submitted by SC on Thu, 04/01/2010 - 02:39

( Posts: 3937 | Credits: )


My lenders are Cash Transfer Centers $720 loan - 194.40 in fees, One Click Cash $300 loan - $90 in fees, Great Sky Cash -formerly fastwirecash $420 loan - $125 in fees. I have been paying these fees for almost 3 years. The loans are paid back twice a month. Please let me know if I can try to deduct the overages from the total amount I have to pay back. These are all out of Colorado. I read that they are only able to charge 20% for the first 300 and 7.5% for any amounts after. Thanks for the help! It is really appreciated!


lrhall41

Submitted by on Thu, 04/01/2010 - 16:46

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I live in Colorado and have 3 internet payday loans with Cash Transfer Centers my loan is $720 - fees $194.40, One Click Cash loan is $300 - fees $90, Great Sky Cash -(formerly fastwirecash) loan $420 - fees $125. I have been paying these fees for 3 years. I pay these fees twice a month. I read that Colorado maximum payday loan fees are 20% for the first 100-300 and 7.5% for any additional amount up to 500. Is that correct? Please let me know if I should try to deduct the overpayment amounts from the total due. Thanks for all the help. This site has helped me so much, and has really given me hope. I appreciate the responses. Thanks again!


lrhall41

Submitted by on Thu, 04/01/2010 - 21:50

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