Help! Multiple Pay Day loans!!
Date: Thu, 05/31/2012 - 10:03
Hello. I am in major trouble! I currently have 6 pay day loans. 5 with store front lenders, and 1 internet lender. I am completely swamped, and do not know what to do. I was in a similar situation 2 years ago, and payed everything off using my income tax money. But of course (stupid me), I got back into the cycle and couldnt get myself out.
I currently have loans with:
Check smart
National Check Cashers
Advance America
First National Loans
Ace Cash Express (interent loan)
I have tried calling all of the above, and I have tried asking them for their EPPs, however, all of the above told me that I was unable to do so, and that my only options were to pay off , and borrow down. I cannot afford to, nor do I want to do that.
Does anyone have any advice?? I am not aware of Ohio's PDL rules, and the ones Ive found online have all been from 2009 or before, so I'm sure theyve changed.
If anyone could please help, I would GREATLY appreciate it!!! :(
I currently have loans with:
Check smart
National Check Cashers
Advance America
First National Loans
Ace Cash Express (interent loan)
I have tried calling all of the above, and I have tried asking them for their EPPs, however, all of the above told me that I was unable to do so, and that my only options were to pay off , and borrow down. I cannot afford to, nor do I want to do that.
Does anyone have any advice?? I am not aware of Ohio's PDL rules, and the ones Ive found online have all been from 2009 or before, so I'm sure theyve changed.
If anyone could please help, I would GREATLY appreciate it!!! :(
Contact with Ohio Division of Financial Institutions in order to
Contact with Ohio Division of Financial Institutions in order to know whether or not pdl companies are licensed in your state. If not, then you are required to pay only the principal. If they are licensed, then you will be accountable for both the principal and interest. Look at this page to know the Ohio's PDL laws:
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
There are no options available out here for you as I see it. You
There are no options available out here for you as I see it. You could give every one of these lenders another shot and try to negotiate a EPP. I have had past dealings with Ace Cash and they were easy to work with.
