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I am in so much Trouble

Date: Thu, 08/12/2010 - 17:13

Submitted by anonymous
on Thu, 08/12/2010 - 17:13

Posts: 202330 Credits: [Donate]

Total Replies: 4


I live in MA and when i saw the money mutuel advertisment on Tv i was very excited, I ma a single parent with a young child at home and i work two jobs i work anywhere from 72 hrs a week to 80 a week and i still find my self struggling to get by every week... I needed exactly 800.00 to get me through to my next check i applied with no issues and then i found out that they sent my application to many many different credit companies and they all approved me they are as followed Nationwide cash, 500fastcash, Greatskycash, Titan group, Ameriloan , and Packmanagment. i got my 800.00 but now it costing my 1600 or more im not even sure none of these companies can give a straight answer, i was advised by an attereny and my bank to stop all payments and close my account but now im getting very threating phone calls at my job and at work its become so much more of an issues then i had thought, im scared for my credit its not very good to start with and this is killing me they have taken so much money from me this week alone i find i cant even pay my normal bills not even minimum payments, i dont want to be reported for fraud because thats not what i intended but thats what there telling me there going to do.............. Help my im giving up completly


Please let us know from which payday lender did you get the loan? Moreover payday lending in Massachusetts has been prohibited by law. Check out from http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html . Thus, you are required to pay back only the principal.

Quote:

i was advised by an attereny and my bank to stop all payments and close my account
Yes, they have given you the correct advise. Close your account, and file complaints with the State's Attorney General, and the Federal Trade Commission.


lrhall41

Submitted by SC on Fri, 08/13/2010 - 04:46

( Posts: 3937 | Credits: )


Quote:

Originally Posted by Anonymous
I live in MA and when i saw the money mutuel advertisment on Tv i was very excited, I ma a single parent with a young child at home and i work two jobs i work anywhere from 72 hrs a week to 80 a week and i still find my self struggling to get by every week... I needed exactly 800.00 to get me through to my next check i applied with no issues and then i found out that they sent my application to many many different credit companies and they all approved me they are as followed Nationwide cash, 500fastcash, Greatskycash, Titan group, Ameriloan , and Packmanagment. i got my 800.00 but now it costing my 1600 or more im not even sure none of these companies can give a straight answer, i was advised by an attereny and my bank to stop all payments and close my account but now im getting very threating phone calls at my job and at work its become so much more of an issues then i had thought, im scared for my credit its not very good to start with and this is killing me they have taken so much money from me this week alone i find i cant even pay my normal bills not even minimum payments, i dont want to be reported for fraud because thats not what i intended but thats what there telling me there going to do.............. Help my im giving up completly

CLICK HERE to find out how to deal with illegal lenders.


lrhall41

Submitted by Shazzers on Fri, 08/13/2010 - 07:51

( Posts: 17344 | Credits: )


Hello to all. I was passing by and noticed this site and I think my mom is in the same boat as this lady here. She had seen the commerical for Money Mutuel as well and she was looking to catch up on a few things. So she applied for a few loans herself. She was offered loans by 500fastcash, UsFastcash and Paradisecashadvance. She originally took out a loan on USFastcash first. Then after paying on a $500 and intrest it wasnt enough. She emailed them and said if the payment isnt made in full on first payday they will take intrest out 5 times before it starts counting towards the loan. So that was getting ridiculous so she took out another loan to help pay for that. Thats where 500Fastcash came in. Then without realizing it was doing the samething. I tried as much as I could to help pay but I was on unemployment at the time and still waiting to see if the bill was passed while I was looking for a job. So I gave all that I could. So anyway fast forward to now, she still has all 3 loans and pays damn near 300 every 2 weeks and none of them are paid off. They all go to the 5 time interest rate policy. Reason why I come into this lady's thread is because I checked the link SC posted and checked her state of PA and it says:
Lending of payday loan is prohibited in the State of Pennsylvania. Check Cashing Licensing Act of 1998 prohibits check cashers from making payday loans. Otherwise consumer discount company act is applicable.


So im not 100% sure what that means. Does this mean she was only entitled to payback the principal? Or is she stuck still paying this crap off?


Here is some of the loan info:


Paradisecashadvance - $500 finance is $125 as of 8/13 they took $125

500FastCash - $300 interest is 644.12% Finance charge $90.00 so totoal payment is $390. She payed $90 3 times already and the current balance is still $390 even after $90 paymnet today

USFastCash First got the loan in April of $350. Interest rate 995.45% Fiance charge of $105 total $455.00. now she had them duct money from her account since may to pay on it. Its still not payed off. they been taking anywhere between $95 to $150 out and the current balance is $195 as of today


so what im asking is is there anything she can do or is she stuck with it? She was just under so much stress and took the money that was offered. She pretty much learned her lesson. I apericate any help or advice. I am sorry for posting in this lady's thread but they on the same boat. If need to I will start my own thread and register. If all goes well I will even send a small donation when I can. Thanks to all


The state is PA


lrhall41

Submitted by on Fri, 08/13/2010 - 09:45

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