Payday loan help

Lending of payday loans are prohibited in the state of Maryland. It means none of the payday lenders in your state are legal. You are required to pay them only the principal amount. If you have already paid more than the principal amount, then ask them for the refund. You can ask your bank manager to put a hard debit check on your bank account so that they can???t withdraw any amount from your account in future.

As Sally has stated above, payday lending is illegal in the State of Maryland. Thus, you're not liable for paying any interest charges or other fees to the payday lender. You should pay off the principal balance only. In order to stop the payday lenders from any kind of unauthorized withdrawal, you can close down your bank account and open a new one with some other bank. After that, you should contact your payday lender and try to pay off the principal amount in full in order to get rid of the debts. You can even set up a payment plan with them to pay off the debts in an affordable manner.

while the posts above mine are factually correct.they are just basic info.what they fail to mention is that anything debited in"fees"gets deducted from the principle.let me give an example.

you borrow 300.00 from let's say AMERILOAN.they debit 90.00 three times.you only owe 30.00 legaly.so i need the following.

1)names of each lender
2)amount borrowed from each
3)amount debited by each thus far

do that and go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of the paydayloan help forum.it has all you need to get these places out of your life.btw unless nothing was debited period(which i doubt)you don't even owe the principle.again provide the info requested and you will be suprised by how little if anything you actually do owe.

I too live in maryland and had an online payday loan that went into collections. I was getting threatening phone calls saying i had warrants out for my arrest and if I did not pay I would be arrested with in 24 hours. I was scammed out of 1200.00. Any Way I contacted the Maryland Commission of Financial Regulation and filed a complaint and they will start an investigation against the companies because they are illegeal in Maryland. Their number is 410-230-6100 just tell them your situation and see what they can do for you. There is a light at the end of the tunnel

The maryland commission of financial regulation
500 North calvert street
suite 402
Baltimore, MD 21202

phone 410-230-6100
fax 410-333-3866

I also made a complaint agaisnt the phone number calling me with threatening attemps the www.ftc.gov I am changing my home number as well.

I hope this helps and good luck!!

Thanks a lot Piglet???..for sharing your experience with us :). I hope this will help all of the forum members in future.