Payday loan HELL!

da_mous,
Hi! Glad to see you here, you came to the right place, because believe me, a lot of us know what you're going through.
First of all..Relax. you have already taken the first step in being proactive, closing your account and making an appointment to go see someone about this..It's going to be ok. I'll be honest with you, you may get some calls at work, although I found that by communicating with them it really reduced that. As far as garnishing your wages, well, they can threaten you, but they have to get a judgement in order to due that, and that can be tough for a pdl company.
I don't know a whole lot about state laws and such. And It sounds like some of your loans are storefront lenders, another thing I know nothing about. But there are a lot of people here who will be able to help you out a lot. Good luck.

Nevada does require that they be licensed.. Step 1 How many lenders are storefront versus internet based lenders? I ask this for 2 reasons, 1) storefronts will generall y work with you and 2) while internet based lenders are usually nastier, they usually can't really do much as long as you follow a few simple steps

Thank you for the welcome, finsfan13 and jj. JJ, all of mine are storefront PDLs. I've been in regular contact with all of them. What are the chances that they will not call me at work if I ask them not to? I have never avoided them and they have my home and cell numbers. Is there some sort of official request I can make?

i think your chances are pretty good that they'll leave you alone at work if you continue to stay in good contact with them. There would be no reason for them to contact you. They'll call you A LOT at home before they get to that. If the calls at home get really excessive and you don't feel like you're getting anywhere, you could consider a cease and desist letter.

welcome da_mous.

http://leg.state.nv.us/73rd/bills/AB/AB384_EN.pdf

Adobe file

AB384, specifically AB1 sections 5-14 were adopted 12/29/05. The law requires that the companies give you 3 months, at no additional interest, to pay off the pdls. If you were to default on that payment plan, the most the companies could charge you is prime rate plus 10% interest.

The pdl companies can't garnish your wages without first taking you to court. And under Nevada law, the pdl companies themselves must follow the fdcpa, so if you send them a cease & desist letter they must abide by it.

Good luck! It will get easier, just have to get away from the recurring cycle.

Payday loan lenders will be happy if you are willing to pay them through the consolidation program. If you are in touch with them with the regular updates they won't harass you with their calls.

Don't let your accounts reach past due for a large period. They will be catching up with interest charges and you might have to pay a larger amount. Explain the situation to your consultant who will take care of the account.

Hi everyone I'm also new here, I have a big problem also with payday loans. I got stuck in a bind and i filled out for two online payday loans and ended up getting six i'm trying to pay them back but with all the interest fee accruing i can't get ahead on any of my bills can someone please refer me a place that can help, i want to pay them off but i just need some time.

Hi Teem

We will be glad to assist you in solving your payday loan problems. It will be great if you can register here and get in touch with our community. Once you are registered, one of the consolidation companies will give you a call back and negotiate with your lending companies. Your accounts will be discussed and you will be offered easy repayment options. Hope this will be one bright step towards improving your credit.

I have an appointment for Wednesday with CCCS here in Vegas. I hope my PDLs are willing to work with CCCS and I can get this all cleared up. Man, have I learned my lesson

Keep us posted! :) Let us know what we can do to help, too!

I called T&C this afternoon and spoke with stacy. She seems really cool. Anyway, I think I'm gonna go with them instead of CCCS. Question: Several people have mentioned sending the PDLs something that revokes ACH permission or something like that. Is this something I should do or should I just let T&C handle it? My checking account is closed, btw.

can someone please pm the information to t&c i am trying to get out of this pdl nightmare.

can you please pm me with the info to t&c as well. I have 5 pdl's and they are all payed as agreed thus far. I keep getting another one to cover my bills and the pdl's from the weeks before. So none are getting paid back, only paying interest. I am in over my head and I'd like to get this taken care of before they get past due.

I thought I was the only fool stuck with all these PDL's. Wow I am amazed at the responses I have been reading. Someone please help me. I cannot do it anymore....what is this letter of ACH permission? If I need it let me know. I have registered with the site and waiting on someone to call.

yjockme

You can contact the ACH dept of your bank and put a stop payment on all the payday loan debits. This way, the lenders will not be able to take out money from your account.

The counselor will be negotiating with your lending companies and arrange a pay off for you. It will be kept lower as per your present financial situation.