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Pay Day Loans

Date: Mon, 02/04/2013 - 16:24

Submitted by anonymous
on Mon, 02/04/2013 - 16:24

Posts: 202330 Credits: [Donate]

Total Replies: 4


I have several payday loans, and live in the State of Virginia. I am unable to keep up, having lost a job. IIs there a way out of their terribly high rates of repay, or am I stuck? Do they have to be licensed in this state to collect.


Please list out the names of your lender, how much you borrowed from each and the amount you have repaid as of now. Without this information we I cannot be of much help.


lrhall41

Submitted by Steve Barris on Mon, 02/04/2013 - 21:18

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Don't lose your sleep even if you're stuck with payday loans. There is a way out of this mess. The lenders need to be licensed in order to lend in the state. If the lenders are licensed and you're unable to make payments, then you can try for EPP. If the lenders are not licensed, then you can just get rid of them by paying the principal amount.


lrhall41

Submitted by ditchdebt on Mon, 02/04/2013 - 21:54

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You are required to pay only the principal to your illegal lenders. Contact with Virginia Bureau of Financial Institutions to check the legality of the pdl companies. If they are not licensed in your state, then close down your old bank account and open a new one to stop debiting money from your account.


lrhall41

Submitted by on Mon, 02/04/2013 - 21:39

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