payday loan consolidation
Date: Thu, 09/23/2010 - 13:55
QXLonline original amount 200 52.00 every week since june
CMG group LLC original amount 300 90.00 every other week since may
MMG holdings LLC original amount 300 90.00 every other week since june
Cashinawink original amount 500 120.00 every other week is paying down but still over 100 every other week since june
Integrity advance original amount 300 since june 90.00 every other week this one is paying down also so it is over 100 every other week right now
USFastcash oringinal amount 200 60.00 every other week have pd at least 240 in fees
Cashdirectexpress original amount 400 Is now paying down but have pd at least 960 in fees
Everest Cash Advance original amt 300 42.00 every week since june
I live in Michigan, I have tried to completely understand my state laws as I have researched but it is still not completely clear. Any knowledge or advice would be greatly appreciated.
The PDL laws of Michigan requires the online PDL companies to be
The PDL laws of Michigan requires the online PDL companies to be licensed in their state. None of your PDL lenders are licensed in your state. So, you are only legally bound to pay the principal amount you have borrowed. I see that you owe a refund from most of the PDL companies. Click here to know how to deal with these illegal lenders.
One more thing, why you should use the service of a consolidation company when you can do it yourself. Follow the steps given in the link I have given you.
Please follow paulcahill80's (as always) excellent advice; most
Please follow paulcahill80's (as always) excellent advice; most of us here have worked our way out of the PDL cycle on our own with the help of this great site. Do what he suggests and if you have any questions, this is the place to ask.
Quote:Originally Posted by AnonymousI am stuck in the payday loa
Quote:
Originally Posted by Anonymous I am stuck in the payday loan cycle, I am considering using a consolidation company, I have just closed my bank account and am concerned about harassing phone calls, not necessarily personally, but at work. Since I have closed my account I want to make sure i deal with this as quickly as possible. If I don't use a consolidation company what are my options? I need to take whatever steps I need to in order to get my life back. These are all online loans and I am pretty sure most are illegal and have been overpaid according to my state laws, am I correct? these are the companies: QXLonline original amount 200 52.00 every week since june CMG group LLC original amount 300 90.00 every other week since may MMG holdings LLC original amount 300 90.00 every other week since june Cashinawink original amount 500 120.00 every other week is paying down but still over 100 every other week since june Integrity advance original amount 300 since june 90.00 every other week this one is paying down also so it is over 100 every other week right now USFastcash oringinal amount 200 60.00 every other week have pd at least 240 in fees Cashdirectexpress original amount 400 Is now paying down but have pd at least 960 in fees Everest Cash Advance original amt 300 42.00 every week since june I live in Michigan, I have tried to completely understand my state laws as I have researched but it is still not completely clear. Any knowledge or advice would be greatly appreciated. |
I had 7 internet pdls and 2 storefront loans. I too was thinking of hiring a debt consolidation company. My total pdl debt was 4,100. One company wanted $1,700 to help me and the other company wanted $1,600. Why should I pay them to do something that I can do. Through the great advice of this forum, I am still dealing with 3 internet pd lenders and 1 storefront. You can do it. Just follow the advice on this forum.
I never bought into the whole "debt settlement companies are evi
I never bought into the whole "debt settlement companies are evil because you can do it yourself" thing. I can probably fix my own house up too, but I bet a professional carpenter or electrician could do it better. Besides, you've been "doing it yourself" up to now and have $4100 worth of payday loans to show for it. Some people do seem to be able to do it themselves with help on this board, but it seems like there are a lot more posts from people that try to follow the advice they get but don't seem to get it and then come back whining.
Quote:Originally Posted by AnonymousI never bought into the whol
Quote:
Originally Posted by Anonymous I never bought into the whole "debt settlement companies are evil because you can do it yourself" thing. I can probably fix my own house up too, but I bet a professional carpenter or electrician could do it better. Besides, you've been "doing it yourself" up to now and have $4100 worth of payday loans to show for it. Some people do seem to be able to do it themselves with help on this board, but it seems like there are a lot more posts from people that try to follow the advice they get but don't seem to get it and then come back whining. |
Illegal lenders are not entitled to interest and fees, you can do what you want to do, it's up to you, but I can't justify hiring a debt consolidation company for an illegal lender, I'm pretty sure most of the members here would agree.
I completely agree with Shazzers. It's up to you what you want t
I completely agree with Shazzers. It's up to you what you want to do, but I would never waste my hard earned money on the fees of debt consolidation company for illegal PDL lenders.
You ask why, we never say 'debt settlement companies are evil'. To get control of your financial position, you need to be determined and focused. Otherwise, our advice will not come handy.
Take my word, we all have passed through similar situations..