Payday Loan Consolidation
Date: Tue, 08/10/2010 - 10:06
Submitted by Stephanie Storey Morant
on
Tue, 08/10/2010 - 10:06
Total Replies: 7
Most consolidation companies will not deal with payday lenders a
Most consolidation companies will not deal with payday lenders as they are usually illegal and very difficult! If you list the loans you have, how much you borrowed and how much you have paid each one and also tell us if they are storefront or internet and the state you live in we can help you do this youself!
If any of your loans were obtained on the Internet the chances a
If any of your loans were obtained on the Internet the chances are high they aren't even legal loans, so, find out first whether the loans you have are licensed to lend in your state before committing to a consolidation company.
Quote:Originally Posted by Stephanie Storey MorantHow do I find
Quote:
Originally Posted by Stephanie Storey Morant How do I find more informaiton about a payday loan consolidation? |
Stephanie: I have 7 internet pdl and 2 storefront loans. I checked into a couple of places that help you get out of the pdl cycle. Langhorne wanted $1,500 in fees for their services and Destination Debt Solutions wanted $1,600 in fees. Through this site, I discovered that out of the 7 internet loans I had out, only 2 were licensed to do business in Ohio and therefore, I only had to pay back the principal to the other 5. I am working with the 2 storefront lenders to make set-up payment arrangements and the 2 licensed internet lenders are willing to accept payments. Before you sign up with a debt consolidation company, make sure you research them thoroughly. Why pay them fees to do something you can do yourself?
Thanks Lizzie Yes, i need to figure out what to do next. All of
Thanks Lizzie
Yes, i need to figure out what to do next. All of mine were Internet PDL. and if I continue i won't have any money to pay my basic utilities and that sucks.
So what did you do after you found out they weren't licensed? Did you close your account and contact them and tell them that you've already overpaid?
What kind of trouble could I be in for having more than one pay
What kind of trouble could I be in for having more than one pay day loan out in the State of Florida? No one even bothered to ask if I had any others out.
Quote:Originally Posted by Stephanie Storey MorantThanks Lizzie
Quote:
Originally Posted by Stephanie Storey Morant Thanks Lizzie Yes, i need to figure out what to do next. All of mine were Internet PDL. and if I continue i won't have any money to pay my basic utilities and that sucks. So what did you do after you found out they weren't licensed? Did you close your account and contact them and tell them that you've already overpaid? |
The very first thing that I did was close my account so they could not do any more withdrawals. I then wrote them all letters telling them they were illegal to do business in my state, not to contact me via telephone, only in writing, demanded a paid in full letter and refund. I also told them I was filing complaints with the FTC and Ohio General Attorney (which I did). I have not heard one word from any of them and it has been over a month. I did write a second letter demanding a paid in full letter and refund. I doubt that I will get a refund, but am pressing for it along with a paid in full. I am not sure what to do next other than keeping bugging them about a paid in full letter and refund. I think it is strange that I have not heard from any of them.
I am from Arkansas wanting to know the same thing: My online PDL
I am from Arkansas wanting to know the same thing:
My online PDL's are:
Fast Cash $350 have paid them $105
E-Pay Day $300 have paid them $90
QX Online $200 haev paid them $152
Paragon $200 and paid them $180
Namakan $200 have paid them $120
Liberty Group $200 Paid 180
I think several of these are not legal. I was in a panic with something going on with my kids and needed money. I had never dont payday loans before and did not realize what all was about to happen. Any help would be a true blessing. Thank you!