pay day loan cycle

Stop paying them! They are illegal in NC and if you have already paid back the principal, then you have done all that you legally need to do. See the "sticky" that Soaplady has posted at the top of this forum, and follow all of the steps.

I know from experience how scary PD lenders can be, but you CAN fight them and win!

i have read steps to take to help me with the multiple pay days i have. i have paid the fees to the limit and then they start taking princple on most of these paydays. if these loans are illegal in north carolina, i want to make sure i do the right thing. are all the loans i list illegal in nc. and what is my first move. i will like to add i have paid most of these loans the cycle for more than 2 years and i end up right where i am again and again. it seems like i can never get them completely paid. thanks

cashtransfercenters
spotonloans
loan shop
paydaymax
extrafunds
nationwidecash
cash jar
signmyloan.net
ameriloan
usfastcash
unitedcashloans
sds processing

ALL PDL's are illegal in NC. Follow the link in my signature line for info on how to deal with them.

i will start tonite. just by getting some quality information has certainly taken a litte stress off me. again this doesnt look easy but ive been living a pure nitemare for along time. thank you . and if you have anymore suggestions to help , please do. thanks

I have been there, so I do understand. Just follow the steps and you will be ok. Do not let them scare you!

Welcome! And let me tell you, you definately are not alone here. At one point, I also had 12 PDL's that I was dealing with, so I feel you.
You have some homework to do here. First, speak with your bank. You are going to need a new account number, which you will NOT give out to your lenders. Get your direct deposit moved over as well. This is the first step in getting back control of your money.
Second, write down everything you have paid these lenders, compared to the amount of your original loans. You are going to demand they refund the differences if you have paid over.
Lastly, get the email addresses, postal addresses of your lenders. You will send each of them what we call a Cease and Desist letter (You can find the template on the site) saying that you are on to them, you know these loans are fraudulent and they stop debiting your accounts immediately. You also need to determine which lender is internet (from your list, it looks like most of them are) and which are storefront. This is important because most storefront loans are legal and should be paid first.
Good luck and just know that you CAN DO THIS!! I and many other people did it and will be here for you.

thank you so much for the important information you have provided. all of these loans are internet. the fees i have paid are in the final c;ycle which means the principle are covered on almost all these loans. again thanks for your response and support.

You are more than welcome and thank you for your very sweet post. The next post I want to see from you is telling us how many refunds you're going to get back! Keep us updated!

hello, i have started the process. i have a new checking acct. my bank manager knows my situation. once i have some oustanding transaction clear my old acct. my bank will close the checking.i also talked with NCAG and they told me the same steps as in your template to do. i have all details on each loan. now i am prepairing to email and mail the documents from the template the you have provided me to follow. i do have one question. i have had many loans with the pdl.s. some over 4 year, im ashamed to tell the total amount of fees that were paid toward the loans. can i ask for a refund on the total i have paid on all the loans. or does my situation apply to the current one im paying on now.it just sickens me when i sat down and added up the total amount of money ive paid. also i have always made the required payments to each pdl. i will keep you posted. again; thank you!

Absolutely.

I mention that in the steps.

Add up all of your previous loans when you're figuring out how much was deposited vs. how much you paid. Ask for a refund of the total amount overpaid.

Put it this way: everytime you went in to pay, you took out a new loan, right? Take the original loan amounts that you have more than paid back, then add all of the fees for the subsequent loans--THAT is what you should be asking to be refunded. So if your original loan amount was $300 and you have paid $1000, you are owed a refund of $700.
Hey and don't be ashamed of the amounts you have paid. We have all probably paid more. Be proud of the fact that you are doing something to get out of the Payday Cycle--and will at last have control of your money!

I am so thankfull for all the response that has come my way. I will be closing my checking acct on monday, at that time i will email all lenders the document letters. i will keep you posted on what transpires. Finally with your help im headed on the right path. thanks

moderator, As i gather all the information to send to the lender. my loan documents have my old address. i recently moved and had to get a PO box. i live in the same area only a few miles from my old address but in a differernt zip and town. should i give them my new address. thanks

I would give them your PO box--but if it was me, I would tell them only to contact me via email. More secure that way.

hello, i emailed all pdl. i have herd from 3 responses of the 15. All 3 that have responded have closed my account. will keep you posted on the others. thanks for all your efforts.

hello there. congratulations on closing 3 of the accounts you obtained from these illegal pdls. Can you please let me know if 2 of these accounts happen to be ameriloan and unitedcash loans? i have loans with them and have yet to do my C&D letters.

i live in NJ and internet pdls are also illegal in my state.

thanks a lot.

hello, thanks, ameriloan has not responded. i logged onto my acct and it still has a balace, not closed. i logged onto unitedcash and the acct is closed and i need to contact them for any futher detail. i will be willing to answer any questions i can. thanks and good luck

hello,I want to give you an update. I have 3 pdls to settle, extrafunds, sdsprocessing,spotonloans. cashjar text me, my account would be sold and needed to pay 37.50 by friday. unitedcashloans, usfastcash, amerilon, Nationwide allows me to log on to my account ,but to call customer service. Cashtransfercenter will not allow me to log on, no response so far either. Have not had a response from paydaymax, loanshop,minutefunds,cpinvestor.goldlinefunding. Signmyloan.net is sending a refund. I will keep you posted. I cant thank each one of you enough. Finally starting to breathe. OH what a feeling. :)