Please help! I am drowning in PDL
Date: Tue, 09/21/2010 - 14:01
Submitted by Scared N Drowning
on
Tue, 09/21/2010 - 14:01
Total Replies: 3
I am new here but have been reading for several weeks.
I have 4 current pay day loans out, and every two weeks I extend two of them, and pay the other two off and re-loan those two because I simply can't afford not to. I have gotten in way over my head. I'm reading the advice here, but I'm really hesitant to close my account or send letters to these companies because I am afraid of legal action. I live in the state of Pennsylvania, and I read a lot of conflicting information as to what is legal here and what isn't. One of the loan companies, zip19, actually makes you authorize wage assignment agreements before they loan you any money. So that makes me very nervous as well.
I have borrowed 350 from US Fast Cash, and already paid back 790, yet they claim I still owe 300 in principle.
I borrowed 300 from First National Fund, and owe them 400. (I re-borrow the same thing every two weeks, so essentially I'm paying them 200 a month..)
I borrowed 700 from zip19, and owe them 840. (again, I re-borrow this every 2 weeks cause I can't afford to just pay it and leave it..)
And the last one is extra cash live. I borrowed 500, already have paid 600, and nothing has yet been paid to my principle, still owe 500 (650, because to pay it off i have to be a 150 fee).
My next pay day is NEXT friday, october 1, so whatever I do, I really have to get the ball rolling. I want to be able to pay my bills! Every week, most of my paycheck goes right to these fees. I've barely been paying my utilities and rent. Someone please advise.
All PDLs are prohibited in the state of Pennsylvania. To save yo
All PDLs are prohibited in the state of Pennsylvania. To save your money, you will have to close your account or at least, make it a 'deposit only account'. Follow the information given on the following link to stop these illegal lenders: http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html
One more thing, wage assignments are voluntary and can easily be revoked.
Thank you, I have seen how to revoke the wage assignment and to
Thank you, I have seen how to revoke the wage assignment and to close my account and everything, but I keep hearing conflicting information about the laws in Pennsylvania. Are they really prohibited?
Also, how do I find out if First National Fund is considered a PDL? They're not an internet lender, I did everything over the phone. They're located in Sandy, UT.
Also, I have some purchases I made with my debit card which are
Also, I have some purchases I made with my debit card which are still on hold, so until those charges post I can't close my account... so it may be a few days. Do you think that will hurt anything? My next payday is Oct 1, so if I close it Friday or Monday, do you think that's okay?