payday loan help...I'm drowning!

[I'm new to this LDL mess myself but this is a great site. It looks like most of your loans are overpaid already so first send all the pdls a letter revoking their ACH rights so they can't debit your account. Also demand a refund from the ones you have overpaid and tell them you want a paid in full letter. File complaints with the BBB and your states attorney general. You'll find sample letters as well as your states laws on pdls here. It has been a godsend for me. Hope that helps, post updates, good luck.

=coachj;691697]I have gotten myself in a mess with these payday loans. All are over the internet and I am just getting deeper and deeper. Please help me figure out what to do. Here are the companies and what I owe.
Paydayone - husband - owe 833 original loan was 900. I have paid $3007 over the past 9 months. I have reloaned a couple of times just to make the payment.
Paydayone - myself - I took out the loan in 5/5/08 for 500 but i have reloaned several times. The highest I have taken it to was 1000. I have paid $7565 over the past two years on this.
500fastcash- 300 paid
DJR group? - loan was for 300 and i have paid 735 since Jan. 2010 and i still owe the original 300.
Paydayyes - original loan was 350 and I have paid 750 since Jan 2010 and I still owe 300.
Cash Transfer centers - i owe 1905. Loan for 1500 and 400 due may 15th. I have reloaned on this for about 11 months so I have paid them 4400 dollars in 11 months.
I just need this to stop. I went to the bank and talk to them and opened a new account but kept my other account open until I get my direct deposit changed. My husband and I get paid once a month on the 15th and all these are due then. I would like to close that account before then and see if I can settle with any of these. I live in Tennessee and both of us are teachers. We are just fighting a losing battle paying this stuff every month. I would do anything to get this off my mind.
please help me!!!:confused:[/QUOTE]

I just need someone to walk me through this. I want to know step by step what to do. I haven't really received any advise yet. I was hoping that someone would help me on this site. anyone out there that can help?

What state are you in?

I live in the state of Tennessee.

TN payday loan laws have a sort of loophole, unfortunately, as lon as an Internet payday lender is licensed somewhere in the U.S. you will need to follow the laws of the state they are licensed in. I happen to know for certain that Paydayloan yes, Cash Transfer centers and 500fastcash aren't licensed ANYwhere but I'm not sure about the others so I will need to do some research and get back with you, meanwhile, CLICK HERE to find out how to deal with unlicensed lenders.

[URL="javascript:WebForm_DoPostBackWithOptions(new WebForm_PostBackOptions("ctl12$gc1$s$gridResults$ctl02$lbReport", "", true, "", "", false, true))"]DJR Group LLC[/URL]
5700 Broadmoor St
Mission, KS 66202
I checked the Kansas licensee data base also the DE licensee data base and found no licensing for them, based on the amount of interest they are charging you my best guess is they aren't licensed anywhere either, if anyone else has any information which would point in the direction of where and IF they are licensed please post it. However, if I were you, I would CLOSE MY ACCOUNT and follow the guidelines at the link I gave you on how to deal with unlicensed lenders.

Oh and, Paydayone is usually licensed in every state so you can request an extended payment plan from them, and if I were you they are the lender I would focus on paying off, forget about the others you have MORE than paid them off and might want to pursue refunds, just follow the guidelines at the link I gave you.

Just one more word of advice about Paydayone, my suggestion is you get them paid off and NEVER borrow from them again.

Thanks! The only thing one I am worried about is the cash transfer center because i did sign a wage assignment online. I read that these are not legal unless I signed in person and that i can send a letter to make this void. What do you know about them? I have read really horrible things about them and also they are based out of Malta so how long would it take me to correspond with them by mail. Should I email them the wage assignment letter or should I send it to them by regular mail. None of these are due until May 15th so I have a few days to figure this out. I am going to close my account on May 13th because we still have direct deposit and its too late to get it changed this month. I will change it for June.

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I have been doing a lot of reading on here and on one post I saw the new payday law that says that the most that legally can be charged for annual interest rate is (i think I read this right) 60%. If this is the case how can paydayone be legal because they are charging alot more interest than that. If you look at their loan agreements it says like 645% interest rate. Is this not illegal to charge?

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Do not even think of borrowing online payday loans. Even if you are financially stressed.

It has been about a month since I closed my bank account and sent out emails to all of these payday loan companies. I have not heard from any of them except for paydayloanyes. they have sent me several emails just saying they were having problems with my bank account please contact them. Each time I resend the same email and finally today they responded and this is what I got:

Rebecca Faidley:
>
> We did not solicit your business. You went outside of your state and took
> the loan. Please reference your loan contract, the Loan Note & Disclosure
> Statement, the Governing Law section. Listed below is what you agreed to /
> authorized when you e-signed your loan contract. Your email does not
> forgive your debt nor will it deflect further collection actions on your
> loan accounts.
>
> Governing Law
> "Both parties agree that this Note and your account shall be governed by
> all applicable federal laws and all laws of the jurisdiction in which the
> LENDER is located, regardless of which state you may reside, and by
> signing below or by your electronic signature, you consent to the
> exclusive exercise of regulatory and ad judicatory authority by the
> jurisdiction in which the Lender is located over all matters related to
> the Note and your account, forsaking any jurisdiction which either party
> may claim by virtue of its residency".
>
> I am in the position to offer you a loan payoff as listed below to close
> your loan account.
>
> This is a loan payoff, meaning once you confirm this payoff by providing
> your card information (see payment instructions), your account will then
> be removed from the collections process, your balance will be frozen and
> no further charges will be assessed on the loan balance as long as you
> follow through with the agreed arrangement.
>
> As of today, your total account balance is due $630; loan payoff is for
> $350 payment arrangements are for two (2) payments $175 due on 06-15-10
> and 07-15-10, this will close your loan account. Payment method is Visa
> or MasterCard debit/credit only. See your email payment instructions
> listed below.
>
> Payment Instructions
>
> To confirm this payment agreement you can:
>
> 1). Call me today, Karen Lamb at ( 1-800-654-7444, ext. 846 ) with your
> Visa or MasterCard information
> 2) Email me back today with your Visa or MasterCard information, see
> payment form listed below.
>
> Regards,
>
> Karen Lamb
> Advanced Collections
> Phone: 800-654-7444, ext. 846
> Office Hours Monday thru Friday
> 8:00 A.M. to 5:00 P.M., EST


I am not sure what to do. I do not want to send them anymore money but I do not want to be harrassed either. Should I just ignore them, send them another email asking for their license, or settle with them? I just need some advise here on what to do.

Thanks,

Tell them your state law prevails. This is typical of Paydayloanyes.

I live in the state of Tennessee. Are they legal in any state? I just ask them to send me their license to show me they were legal and they haven't shown me anything yet. I have already paid them 700 dollars and the orginal amount I borrow was 350.00. I feel I have paid them more than I owe them already. Should I just just ignore them?

thanks!

Quote:

Ok I got a call to day from someone who said they were someplace that had three names like Stuart, Williams and Bailey (I know that isnt right but it was something like that). I am sure they wanted me to think it was an attorneys office. They never said it was, the lady said they were going to serve a court summons on me at home and at my work place if I did not settle this account. When I looked at the caller ID at home it said it was from "Officer something or other" like it was coming from a police station. She said it was from the DJR payday loan. She tried to say I had not paid a penny on the loan but I told her I had paid 105 dollars twice a month for 4 months which totals almost 900 dollars for a 300 dollar loan. She kept saying that I had not paid anything on the loan. I am not even sure she was talking about the same loan I took out with them because she said I took it out on Dec 23rd and that isnt even when I took it out. Could this be a scam or someone else trying to scare me into paying it. She said I owed 700+ dollars. The only loan I have ever taken out with them was for 300. I finally just hung up on her. I did not send an email to the DJR loan I took out because I did not have an email or an address for them.
Also Paydayloanyes is still calling me and everyday I send them the same email. They actually sent me a settlement of two payments of 175 and then when the lady called today she said I need to pay 400+ dollars to settle it. This is starting to get on my nerves!!

I am about to call and have my home phone number changed and block them on my cell phone. Should I just keep hanging up on them when they call?

I closed my bank account back in May and have not paid again on any of these. I have not received any calls or emails from any of these but I did get a call today from Phoenix Finance in Nashville and the lady said that I owed DJR group over 500. She was with a collection agency and she said that she would continue calling until this was paid. Should I just ignore this or send them a letter saying for them to stop contacting me by phone. I borrowed 300 from them and paid over 700 in 3 months and still owed the original 300. I do not think they are licenced anyway.

yes DJR is another like paydayloanyes that is not licensed period.send them a C&D letter.