Six loans and trying to get back in control
Date: Sat, 04/24/2010 - 21:06
Hi. New posting to the forum, but have been lurking for several months reading and learning how to get myself out of my payday/installment mess I am in. I???ve started the process with a few, but thought I would post my situation to get some feedback on whether I am proceeding correctly and maybe get some additional input.
My state is Virginia.
My current loans (all internet):
$300 borrowed from Cash Advance Network (paid $575) says I owe $525
$500 borrowed from Paradise Cash Advance (paid $655) says I owe $480
$600 borrowed from First Bank of Delaware (paid $750) says I owe $835.32
$300 borrowed from Mypaydayloan (paid $75) says I owe $525
$1300 borrowed from Magnum Cash Advance (paid $0) says I owe $2062.18
$200 borrowed from Jupiter (paid $75) says I owe $275
My bank account has been closed. Prior to closing the account had amassed $500+ in NSF fees due to unauthorized ACH attempts by several of the lenders (Cash Advance Network was the worst)
Cash Advance Network has been sent the works ??? cease and desist letters, ACH revocation, Copy of VA laws and restrictions, request of address and license to operate, etc. I said I had paid enough by law and wanted PIF status. They responded with an angry email claiming Indian Tribal jurisdiction and four more ACH attempts the next day to drive my bank account further into the negatives (the account had not been closed yet ??? big mistake on my part). I reported them to AG and BBB. Have not heard anything for about 10 days.
Paradise Cash Advance is suspiciously quiet. I sent them ACH revocation but nothing else yet. I also feel I have paid more than enough already, but debating how to proceed.
I sent First Bank of Delaware an email explaining my financial mess and requested a settlement of 50% owed principle. They keep asking me to call despite me writing twice that I prefer communication in writing.
Mypayday loan was rolled over once (the $75 paid). My bank account was closed when they attempted an ACH middle of the month and they sent me an angry email saying now that my bank account is ???closed??? status, I have been reported to SCAN and now owe a total of $525 in principle & fees. I wrote them back saying the total seemed excessive, sent copies of VA laws and restrictions, requested address and license, and asked to work out a payment plan to payoff the principle. They responded that Costa Rica is the venue and I still owe $525 ??? but would accept two $150 payments of four $100 payments. I have not responded. They continue to send form emails daily.
Magnum is expecting $1031.09 end of the month. Not late and no correspondence as of yet.
Jupiter loan was rolled over once (the $75 paid) but otherwise is due on the 30th. Not late and no correspondence.
I am not trying to stiff anyone and want to pay back at least the principle that I borrowed in each case. I feel I have already paid Cash Advance & Paradise Cash Advance more than enough already ??? do not plan to send more. Hoping to settle with FBD and Magnum (although not sure how much I can expect ??? maybe 50-60%? Does anyone have any suggestions or success stories?). Will pay $225 more to Mypaydayloan provided they supply a physical address to mail to ??? I owe the money but they have been really nasty. Will probably pay Jupiter the full $275 since it is the smallest and not sure it???s worth the effort to save $75 via settlement ??? although I really feel I only owe $200 more at the most.
All thoughts or comments welcome.
Didn't work...sorry for the multiple post...admin please erase
Didn't work...sorry for the multiple post...admin please erase
Quote: They responded with an angry email claiming Indian Triba
Quote:
They responded with an angry email claiming Indian Tribal jurisdiction |
Just as they claim to be exempt from out laws, remember, you are exempt from theirs also.
Thank you for the reply Shazzers. Very true. Then what, if any
Thank you for the reply Shazzers. Very true. Then what, if anything, can they do to me? My conscience is clear because I have paid them well over the principle + legally allowable fees. If I can put those two behind me, the path is already 1/3 clearer!
Does anyone know if any of these six included wage assignments in their online paperwork? I simply cannot recall...although I am a teacher paid by my school district, so I may be exempt -- at least from reading this list of rules:
http://www.debtconsolidationcare.com/forums/wageassign-legal.html
Also, advice on how to handle Magnum and Jupiter would be apprec
Also, advice on how to handle Magnum and Jupiter would be appreciated. I have not made any communication as of yet (payments due on the 30th). Again, I am not trying to stiff anyone, just hope to avoid paying more than I need to after paying back the principle. Thanks.
Quote:Originally Posted by AnonymousThank you for the reply Shaz
Quote:
Originally Posted by Anonymous Thank you for the reply Shazzers. Very true. Then what, if anything, can they do to me? My conscience is clear because I have paid them well over the principle + legally allowable fees. If I can put those two behind me, the path is already 1/3 clearer! Does anyone know if any of these six included wage assignments in their online paperwork? I simply cannot recall...although I am a teacher paid by my school district, so I may be exempt -- at least from reading this list of rules: http://www.debtconsolidationcare.com/forums/wageassign-legal.html |
I would revoke all lenders wage assignments, just in case. As far as the company who claims they follow tribal law, good for them, if they should decide to walk into OUR court of law they would forfeit their laws, I think the chances are slim to none that will happen as they would get the book thrown at them for the illegal interest rate they charge. I think it's safe to say if you have paid more than the principal amount borrowed to cross them off your list and ignore them.
