Please help me
Date: Sat, 04/06/2013 - 03:58
Payday Max loan for 1580.00
Paid 1125.00
Castle Payday loan for 1500.00
Paid 1125.00
Bottom Dollar Payday loan for 800.00
Paid 120.00
Cash Taxi loan for 300.00
Paid nothing yet.
I also have an installment loan with The Cash Store for 2100.00
Paid 1560.00
I am so overwhelmed and can't pay my family's bills on top of these. My home is in jepordy. All I have done is paid the interest on these loans because I can't pay anything else. I had a large cut in hours at work and ever since then I can't keep up. Please help me!!!
Thanks,
Aimee
Only the Cash Store is in
Only the Cash Store is in store, all of the others:
Payday Max
Castle Payday
Bottom Dollar Payday
Cash Taxi
Hydra Fund 1
These are internet ones.
How do I find out if they are licensed...I've looked everywhere and can't find the information....Thanks!
Illinois Payday Loan Laws
Illinois Payday Loan Laws
State Legal Status - Lending of payday loan is considered legal in the State of Illinois. But, Online lenders must be licensed in Illinois. Check to see if your online lenders are, if not follow this link on how to deal with... http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
Loan Specifications -
Maximun Amount of Loan - Less than $1000 or 25% monthly gross income
Term of Loan - 13-45 days
Maximum Rate of Finance and Fees- $15.50 per $100
Finance Charge on $100 loan for a 14 day period - $15.50
APR for $100 loan for a 14 day period - 403%
Debt Limits -
Maximum Number of outstanding loans permitted at a time - 2
Permissible number of Rollovers - None (Rollover cannot be done)
Cooling-off Period - 7 days after a period of 45 consecutive loan days
Repayment Plan - Yes
Limits of Collection
Collection Fees Amount - One NSF fee of $25 (Presentment limit is equal to 2)
Criminal Action - Prohibited
File your Complaint and get Information
Regulator - Illinois Division of Financial Institutions - They should have a website you can look your lenders up on
Address - Consumer Credit Section, 320 W. Washington Springfield IL 62701
Phone - (888) 298-8089
Make sure that Cash Store
Make sure that Cash Store knows that you are shutting your bank account and you will want to revoke their ACH authorization and possible wage assignment as well.. If you are current with them they should be able to offer you an extended payment plan for the remaining balance. Who did you talk to at corp?
Follow the steps in the link that I shared earlier on all the others.
First and most important is
First and most important is to see if any of the online ones are licensed to lend in your state.. I am guessing that none are but you still want to verify.. if they are not follow the steps in this link - http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html - follow all steps in order!! on the ones that are not licensed to lend they are only morally due back original principal minus anything already paid to date..
Are any of these in store loans or are all over the internet...
OK, so if these terms were
OK, so if these terms were not met, what do I do next? I have been loaned more than the state allows ect... I want to pay back loans...but I can't handle the interest anymore since I have had a cut on hours at work...so again, what do I do next???
Thank you so much for your
Thank you so much for your help!!! None of the Internet payday loans I have are licensed in Illinois, so I'm starting your process tomorrow! As for the Cash Store, Corporate stated they can't do anything until 3 payments are missed, then an agreement can be made. Thanks again! I hope and pray this mess and nightmare will be over soon!!!
Aimee