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Please help w/ 6 payday loans!

Date: Thu, 07/08/2010 - 21:34

Submitted by anonymous
on Thu, 07/08/2010 - 21:34

Posts: 202330 Credits: [Donate]

Total Replies: 18


Hi, I got myself into a bind by foolishly overspending and loaning money to my brother and have been searching all over the internet to find a solution to my problem then I find This website with all kinds of helpful things! My question is, Is there any thing I could do to get myself out of the situation that I am in because I am about to get behind on rent and or car payments in about 3 weeks if I can't stop this madness. I have been getting stressed out which is normally hard for me to do and am worried sick about this. I can't work anymore and have cut my spending and sold a few assets allready so I am wondering if there's anything else I can do...?

I live in FL and all loans I have received were online....

1) Ameriloan for $500 paid about $150
2) Mesa Financial for $450 paid about $140
3) ACE cash service for $300 paid about $180
4) QXonline for $300 paid about $180
5) Sandpoint Capital for $300 paid about $180
6) Oasis1 Marketing for $300 paid about $270

The amounts that I have paid back have just been to renew the loans and I have found out I am just digging myself a deeper and deeper grave..... Any ideas on how to get help or settle or anything at all? Thanks in advance to anyone who takes the time to help me! Have a great day!

Stephen


Hi there,

Your payday loan laws are at the link below, Internet payday lenders are required to be licensed in your state and the link for the data base to search for these lender licenses are below also. Just so you are aware, CSO's (Credit Service Organizations) are also available in your state, so you want to make sure none of your lenders are CSO's (I don't think they are), CSO do not follow the payday loan laws, I have more research to do before I can give you any info on these lenders, meanwhile, here are the other two links:
http://www.paydayloaninfo.org/stateinfo/FL.asp
https://real.flofr.com/ConsumerServices/SearchLicensingRecords/Search.aspx


lrhall41

Submitted by Shazzers on Thu, 07/08/2010 - 21:46

( Posts: 17344 | Credits: )


Quote:

Originally Posted by Anonymous
Yes it was an installment type of loan.

OK, if it's an installment type of loan then they don't have to follow your payday loan laws, so that would make them a legal lender and one you will need to call or email to make payment arrangements, or, could be once I research all these lenders it will be the only one you will owe anyway. Let's just find out first who is legal and who is not.
So far:
Illegal lenders:
Ameriloan
Sandpoint Capital
Ace Cash Services

Legal:
Mesa Financial

I am still researching, by the way.


lrhall41

Submitted by Shazzers on Thu, 07/08/2010 - 22:04

( Posts: 17344 | Credits: )


Quote:

Originally Posted by Anonymous
I'm assuming it's an installment type of loan from mesa financial... They have been debiting my account bi weekly for quite a while....

Since they are listed as a Consumer Finance Co., I would venture to say they are legal. Do you happen to have their contract they should have sent to you in your email?


lrhall41

Submitted by Shazzers on Thu, 07/08/2010 - 22:10

( Posts: 17344 | Credits: )


I have done research before on QXonline and what I have discovered about them is, they are basically a company who locates a payday loan for people who apply, so, what you need to do is look at your bank statement to see what the name of the company is that withdrew from your account, it could be one of many different companies, my best guess is they aren't licensed in your state, because what I have discovered so far is the companies they have listed as lenders haven't been licensed anywhere I could find, so far.


lrhall41

Submitted by Shazzers on Thu, 07/08/2010 - 22:13

( Posts: 17344 | Credits: )


Quote:

Originally Posted by Anonymous
i believe they were all payday loans...not exactly sure what "installment loans" is refering to... However, for oasis1 the phone# is 1-866-209-3035 that was listed on my bank statement...Haven't found a address yet but am still looking....

An installment lender sets up a payment plan, a payday lender requires full payment on your next payday.
I am telling you, you will need to close your account because it will never be safe again, even if you put an ACH block on the illegal lenders you have it will only be temporary, they will change their name and hit your account over and over again. All you owe them is the principal amount you borrowed to begin with, no interest, no fees. Deduct the payments you have made so far to each one and the remaining amount is all you would owe, they may even owe you a refund, but getting one might be another story, doesn't hurt to try though. Read the thread on how to deal with illegal lenders, I gave you a link above, it will guide you step by step on how to deal with these illegal lenders.


lrhall41

Submitted by Shazzers on Thu, 07/08/2010 - 22:18

( Posts: 17344 | Credits: )


Quote:

Originally Posted by Anonymous
This is actually my 2nd loan thru Mesa Financial and no I have gotten an email from them, I just call him and Doug does the deposit...

I see, well, based on the information I have dug up on them so far, I would guess they are legal, therefore, you will need to make other payment arrangements with them. Closing your account is your only safe option to protect you from these illegal thieves.


lrhall41

Submitted by Shazzers on Thu, 07/08/2010 - 22:21

( Posts: 17344 | Credits: )


Well I think all my payday loans wanted their money back right away but gave me the option to just pay their fee and have it roll over for another 2 weeks and pay the same fees over and over again....Ok I will try and do that tomorrow actually at my bank and go through the steps, I may come back to you if I get confused again if that's okay.... Thanks again for helping me in this horrific time...It is really a hard lesson learned.... Never again will I touch payday loans.


lrhall41

Submitted by on Thu, 07/08/2010 - 22:25

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Quote:

Originally Posted by Anonymous
Well I think all my payday loans wanted their money back right away but gave me the option to just pay their fee and have it roll over for another 2 weeks and pay the same fees over and over again....Ok I will try and do that tomorrow actually at my bank and go through the steps, I may come back to you if I get confused again if that's okay.... Thanks again for helping me in this horrific time...It is really a hard lesson learned.... Never again will I touch payday loans.

Well, your state law for payday loans says you can't roll over a loan, so if they gave you that option that pretty much tells you they are illegal lenders. If you have any further questions, feel free to ask.


lrhall41

Submitted by Shazzers on Thu, 07/08/2010 - 22:27

( Posts: 17344 | Credits: )