Payday Loan drowning

Date: Fri, 01/28/2011 - 06:40

Submitted by allofus
on Fri, 01/28/2011 - 06:40

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Total Replies: 6

I have 6 internet payday loans and the fees are drowning me. Just when I think I can pay one off something happens and I don't have the money. My fees are taken out of my account every other payday - every 2 weeks at 100-150 each. That is like 1200 a month. How can I combine these? Or should I just shut down my bank account?:confused:

I'm in Missouri. The companies are: Peppercash, Nationwide, Advance Today, Purpose, Oneclick, Big Sky and Cashnet.

Payday lending is legal in the state of Missouri. Thus, you'll b

Payday lending is legal in the state of Missouri. Thus, you'll be liable for paying off the payday loans as well as other late fees and charges in full to the lender. As you're facing financial hardship in paying off the loans, you should go for payday loan consolidation. You should contact a local debt relief company and they will assist you with payday loan consolidation. This will help you in combining your multiple bills into one single payment and it will be easier for you to get rid of the debts.

lrhall41

Submitted by Anna Sweeting on Fri, 01/28/2011 - 18:40

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Some of those payday loans are not licensed to lend in Missouri,

Some of those payday loans are not licensed to lend in Missouri, therefore a consolidation would not be in the posters best interest. The lenders below are not legal:
Peppercash
Nationwide
Advance Today
Oneclick
Big Sky
[URL=http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html]CLICK HERE[/URL] to find out how to deal with illegal lenders.

Cashnetusa or Cashnet?

Purpose aka Purpose Cash Advance aka Direct MicroLoans, LLC is a LEGAL lender.

lrhall41

Submitted by Shazzers on Sat, 01/29/2011 - 10:23

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Thank you Shazzer, I appreciate your help on this. I do believe

Thank you Shazzer, I appreciate your help on this. I do believe I should pay what I borrowed, but the fees are overwhelming. To answer your question, it is Cashnetusa. Please let me know about that one. I will use the information you sent.

lrhall41

Submitted by allofus on Tue, 02/01/2011 - 07:14

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Yes, Cashnetusa is a legal lender, they offer an extended paymen

Yes, Cashnetusa is a legal lender, they offer an extended payment plan, just request it.

lrhall41

Submitted by Shazzers on Tue, 02/01/2011 - 08:32

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I recently shut down my bank account when I defaulted on 6 pdl's

I recently shut down my bank account when I defaulted on 6 pdl's. I told the bank my situation and they reopened another one for me right away. I'm paying all of them back but on my own terms without all that excessive interest accumulating. It will be reflected negatively on my credit report but it was worth it. If I didn't default I would have had to borrow more money and it would have just gotten worse. Now I have control over my finances again.

lrhall41

Submitted by on Wed, 02/02/2011 - 14:53

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I got the advice from this site. I'm paying each company off a l

I got the advice from this site. I'm paying each company off a little per month and should be done within 8 months. I make sure to return the collector's calls and tell them when and how much I will pay them and they're happy. I"m saving so much money now. I've been chained to these loans for over a year and would have saved so much money if I would have done this sooner. Good luck.

lrhall41

Submitted by on Wed, 02/02/2011 - 15:01

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