Pay Day Loans

Register with this site and I'll send you the info....

how do I get information about T & C for pdl consolidation loans

kay, there is a new rule that you must wait until you have 5000 points to receive any contact info for a consolidation company.

Please see:

http://forums.debtcc.com/forums/about10413.html

Hi kay

Since you have registered in this site, you will be called by a counselor shortly. You can discuss your accounts with him. He will fix up your payment options and negotiate with your lenders.

Meanwhile, we will like you to spend some time with us and tell how you came into this debt situation. Believe me, there are many others who are going through the same situation and learning from other's experiences. We learn something new everyday in this forum looking at someone struggling out of debt.

Long story short, I seperated from my husband and things just went downhill from there. I have two girls to take care of and between having to take time off work to take the younger one to the doctor plus the cost of prescriptions, I started taking out PDL's. I know this just made matters worse. I have learned my lesson and will try and contact them to make payment arrangements. One has already agreed, the rest I'm working on it. I live in Texas and am not sure what to do if they do not agree to the payment terms. With 6 PDL's I can only pay but so much per month. Wish me luck...

who are the PDL companies? Maybe we can help you with fighting them on your own...I'm from TX too...

they are Borrow Cash, Emerald, FSM, Platinum B, ameriloan, United Cash. I have another one with USA Pay day loans but i have worked out an arangement with them.

Try using some of the letters posted here in the forums with FSM. I tried them, and they wrote off my balance completely. I don't have experience with any of the others.

Also, united cash want me to send them 7 x 120 for a 300 loan. I have already paid the 90, now they want me to pay the 120 for the next 7 pay checks.

THAT'S CRAZY!!! don't do that...send them a letter about how illegal their lending practices are...no doubt they will settle for the $300 only...or possibly write off the loan. They didn't zero out mine though, just accepting payments from the debt consolidation. so, it's worth a shot for you to try to hit them where it hurts. Keep posting, and try doing a forum search for letters to see if you can find anything helpful...

they wanted you to pay 840.00 for a 300.00 loan? Thats unreal.....I am confused how and why they would right off the balance completely? Someone please tell me? Thanks

What other letter should I send besides the C and D? Thanks

Everyone here is great. I will try and find some of these letters and start sending them off. I'm glad I signed up here as I would of started to send them the money out of desperation. I do not need these people to contact me at work. It's too stressful. I do however want to pay back what I borrowed. I will continue to post and please if anyone else has any other advise, feel free to give it.

Hi Kay,

within hours you have started to feel comfortable in this forum. This is the specialty of our community. Don't send your hard earned money out of desperation. Perhaps, it might not reach the right place where it should. Be aware of the laws in your state and fix up everything in writing with your lenders. The state laws are there for you to back up, so you don't have to send an extra dime towards any outrageous fees.

Hey everyone, I just wanted to give everyone an update. Thanks to this wonderful site I was able to get the addresses of all my PDL's even though I had kepted copies of all of them I was surprised to find that almost all of them did not have an address. But thanks to this site and eveyone that has posted the info, I was able to send them all a C & D letters, certified return receipt of course as none of them are licensed in my state. I sent each a payment plan and am now awaiting their responses.

Hi Kay,

Welcome to the forums. It sounds like you are taking the right first steps. Keep us updated on your progress. If you have any questions, feel free to pm me. I've had dealings with some of the lenders that you listed.

Kay, congratulations on your right first steps. It may get rough for a period of the time but there is a light at the end of tunnel.

Good luck and keep us updated on your progress!

I have received a response from PayDAY OK and FSM, they have both sent me an e-mail agreement to my payment terms. But I have not heard from the rest and I know that they each received my request as I sent them all certified return receipt. Do I just wait or should I contact them directly?

When did you send them the letters? Sometimes you d lik to give them 30 days maximum to respond.

I am happy to hear that Pay Day OK is being cooperative in the payment agreement. The company is one of the lenders I still owe and the account will officially go into default in two days. I plan to contact them today and work out a payment plan.

I sent them the letters last Tuesday. FSM and PayDay Ok both responded Friday via e-mail. I guess I will wait a few more days and see what happens. None of these PDL's are licensed in my state but I am willing to pay them back what I borrowed minus the interest rates and any other additional fees.

Kay, since you have taken the loan from the lenders in spite of them not licensed in your state, you might be required to pay back the interests and fees along with the principal amount. But you should pay as per the permissible rates. The lenders cannot charge you excessively on the total amount.

John I agree. FSM and PayDay Ok gave me the total amount I needed to pay with the fee + interest rate allowed by my state and they agreed to my payment terms and debit my account anymore. I totally agrre that anyone who takes out a loan should pay it back, I'm just glad for this forum because it gave me the tools to be able to come up with a plan. No more PDL's for me for life. Next time, I'll let the other bills go unpaid if I'm ever in this situation, much better than the pain these PDL's are.

I am in the process of trying to settle my debt with this PDL. PDL is illegal in NC, but the claim the can charge what they want. Any suggestions on how to handle them. I am in the process of drafting a letter to them now.

Well I would just let them know what you can pay them within the terms of the state that you are in. Also, FSM, even though they sent me an e-mail they went ahead and tried drafting my bank account 2 days later so I am in the process now of telling them as nicely as I can put it to go to hell as they have now costs me more money. I have sent my payment to PayDay ok as agreed though.

Report them to the AG's office of your state. They will investigate it. You should probably close your bank account and open a new one to keep them from costing you even more money. I know that is a pain to do, but it's better than NSF charges.

I am trying to find out what PDL's are licensed in Ohio but I must be stupid because I cannot locate the information. Please help. I have more than paid the loan and more than a reasonable amount only they keep right on depbiting my checking account. I have opened a new account with a different bank in order to pay bills and have my check direct deposited because my other bank refused to close the account until it was at a zero balance and would not put a stop on the automatic withdrawals. In order to do that I would need to file a complaint with the bank on every chaege that I was disputing before they could do anything. After this experience with this bank - I would not use them again. I am trying to contact Access and Maagnum for them to stop. I have not been able to find any information on them.

Lanita, the contact number of Magnum is 888-276-4189. If possible try to pay the charges with the previous bank as early as possible. At this time, the payday lenders have every access to your bank account and they will fill it up with NSF charges. You need to stop that from happening. If it is hard to pay off the amount, ask your bank to block the payer code of the lender so that the debits can be stopped. Your bank must not have problems in doing this for you.

Lanita,

Do a google search for the Ohio Division of Financial Institutions. You will be able to check to see if they are licensed on their website. It is very informative.

I have regestered, yet it won't let me log in to check my PMs. I have tried to reset my password, yet nothing. would it be possible to email me T&C address and phone#? thanks

email address removed per forum rules - (Tammy)

Hi Joseph

If you are having log in troubles in the forums, please mail me your email address and username at mike(at)debtconsolidationcare.com I will try to fix the problem as soon as possible.

Regards
Mike

sent to you. thanks for the help

I to live in Tx I have 4 PDL's out there but at 90 a week or bi weekly in fees It is killing me I have paid one of them 180 of 300 loan and the other one 155 of 200 loan I tried to read the limits here for tx and didnt understand what they can or cant charge, Should I close my account then try to negotiate with them some of them just have email or a voicemail and no address also Please help me I meet with a lawyer Friday about Chapter 13 and I hate to do that

You should close your bank account and open another one and not give the new account number to the pdls. Then contact the pdl lenders and set up arrangements. Don't set the payments higher than you can afford. What lenders do you have? If you don't mind posting them, we can help you locate the addresses for them.

I would like to say good luck to all in becoming debt free. I had a pay day loan company called mycashnow several years ago 3 to be exact. This company would debit my checking account 2or 3 times a day when I got behind 1 payment. They cost me over 1600 dollars in feesin a month and a half. I closed my account and three years later the scmaers still get nothing. Stay away from these companies please. Oh they have tried a new scam in florida to do cash advance loans by offering internet service in there front lobby saying the high fees charged to you pay for the internet service. A local judge just shut on e down in my city and anyone who owed them is cleard of the debt. They were charged with fraud andseveral other crimes like debt collection laws and such

Sapphiredreams, did you once say you're from Indiana? If so, how do I find out what PDLs are licensed in this state? I tried to read the laws via a link in this forum, but all it did was confuse me. I know that may sound dumb, but I couldn't tell if I have overpaid or not. How did you compose your letters? Any help will be appreciated. Thanks!

how bout this aj? how bout u stop borrowing money. think about it. it is pretty freakin simple, like 2+2, u borrow money, u gotta pay it back. ok? if u dont want ta pay it back, dont borrow it, got it? i get tired of hearin the same crappy story over an over again. what is it with you peeps.

newjerseykid, take it you've never fallen victim to any type of emergencies and are not living like most of us from pay check to pay check, even myself, I was doing ok until I seperated from my husband. you should really walk in someone else's life before you judge them. yes it's stupid to take out so many pdl loans, but when you take one out of desperation, guarantee you always end up taking more, it's just the way it is. this forum is baout encouraging one another and helping each other. Everyone is entitled to their opinion but everyone here needs lots of support more than anything else.

newjerseykid, can you point out anyone who doesn't want to pay at all? You are heading up with your conclusions quick enough. Spend some time reading here and you will get to know things better.