Payday loan help in Rhode Island Please

Please tell me there is someone out there... =(

Though I'm not sure about the laws of Rhode Island, I think the payday lenders that you've mentioned are not legal. You can have a word with an attorney based at your state and he will let you know whether or not the payday lenders are legal. If they are not, then you can simply pay them the principal balance and get rid of them. Illegal payday lenders cannot take any legal actions against you.

However, payday lenders can charge off the debt and assign/sold it off to a collection agency. If the payday lenders are legal, then you can go for the option of debt settlement. This will help you in getting rid of the debt faster and in an affordable manner. State laws regarding payday loans are available at: http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Thanks for the link, now I know based on all the finance charges i paid in the past, these companies owe me money, could you or perhaps someone tell me what kind of letters I should be sening to these companies and what steps i should take to get the ball rolling. I know based on reading these boards a bit I should contact my state AG and the FDC, but what then after that?

Also just to clarify, you said that a payday lender can charge off the debt and assign it to a collection agency, but is that only if they are legal, can the illegal companies do that as well, just worried about my credit because i just recently fixed it.., thanks a bunch.

Rob

anybody legal or illegal can sell debt.it's just that no matter who buys it they must be able to prove the debt is legit,and valid.hard to do with illegal pdl's.which as the guest stated are illegal in every state.not just RI.btw yes file AG,AND FTC complaints,but also when a scuzzbucket calls and threatens on these file police reports and ignore them as again all three places are illegal everywhere and will feel the need to illegaly threaten.when that happens file the report.i'm assuming you secured/closed your account right?

yes i did, once they go looking for the money, the accounts will be closed. I even ensured with the bank that they block the ACH transfers from the companies specificaly even though the account is closed. The bank also has an affadavit signed by me for them not only to investigate the matters but to block the comapnies as well. So i file the complaints, send them letters, and basically, tell them I will communicate by mail only and also will only pay them via money order by mail only what I owe them, no interest at all. Now if they refuse my demands to pay on my terms and decide to take me to collections..., what would be my next step. Again thank you all for the help and continued anticipated assistance.

If a CA contacts you regarding any of these debts, you'll remind them that you need a dunning letter and, if you ever receive one, you'll request debt validation. They won't be able to validate a loan with an unlicensed lender.

Ok, so to get this strait. Bascially file my complaints with the AG and FDC. Write a letter to the three companies explaining their illegal actions and explain to them that I will morally pay the principal but no finance charges, as far as any CA, just do as you explained ohiogal, and if they cant validate it, then they can't file a negative report on my record. Thats my biggest concern, I want to pay these loans, but It may take awhile to pay them and I don't want my report jeopordized. Also, I know there are some template letter links on this site, can't seem to find them though, could someone provide me with a link?

The link is currently missing. We're working on recovering it.

thx ohio