logo

Debtconsolidationcare.com - the USA consumer forum

payday loans

Date: Fri, 06/30/2006 - 19:23

Submitted by quietrain81
on Fri, 06/30/2006 - 19:23

Posts: 53 Credits: [Donate]

Total Replies: 38


I am interested in consolidating my payday loans. Is there a company that does this?


Sorry for piggybacking on your post if I've done this wrong but I need the same information.

After spending an hour and a half this afternoon doing my bi-weekly payday juggle, I just can't do this anymore. I need help getting out from under this mess and hope to consolidate. I once called some consolidation companies in the phone book and was told they don't consolidate payday loans.
I am in Virginia.
Any help is much appreciated.


lrhall41

Submitted by amycollier35 on Fri, 06/30/2006 - 19:51

( Posts: 15 | Credits: )


Hello Amy, I am in WV. Need a little more info on your situation. Have you satisfied this debt. What I mean is if you have a 300 loan have you paid back 300? In Va. these loans are ILLEGAL. Some store fronts are getting by but not for long. Internet is definately illegal. There is a usary cap on how much interest you can be charged. Look thru your records carefully. If you have satisfied this debt ask for a letter from the company marked paid in full. Contact the VA attorney generals office immediately. The more complaints they get the faster they can shut these people down. If you need any more help just ask. PM me or write in forum. GOD BLESS KYSIDE38


lrhall41

Submitted by KYSIDE38 on Fri, 06/30/2006 - 20:26

( Posts: 2477 | Credits: )


It's okay it seems that's possible. I know it's crazy but I was just trying to make ends meet and I can't do it anymore. Most of the online loans are so small like 150.00 that I had to keep taking them out just to cover the others. Some are online and others are store front ones. Does Ohio do consolidation for payday loans?


lrhall41

Submitted by quietrain81 on Fri, 06/30/2006 - 20:45

( Posts: 53 | Credits: )


How can these storefront PDL places be illegal?
They are literally on every corner!

I have 4 loans out.
I did it all again today.
I had to to exist until the next payday in 2 weeks.

So my loans that come due on the 14th of July are for $575, $460, $402.50, 402.50. They just keep increasing as I can't cover them and thus borrow more. I did scale it down from 5 though, but we ate rice for days last week. I am in so deep I can't even see the light at the end of this tunnel. They have my checks of course and will deposit them if I don't pay. They will then bounce and then the nasty calls start coming at home and work. Once, I was one day late and they were merciless.

I am separated from my husband and have 2 kids and make $9.50 and hour. I am so far past screwed at this stage, I can't imagine how I will ever get free.

Thanks for your help.


lrhall41

Submitted by amycollier35 on Fri, 06/30/2006 - 21:07

( Posts: 15 | Credits: )


Amy,

I'm sorry to hear about your situation. Many of us on this forum are in, or have been in the same situation. Identity Crisis, above, is fighting in the situation right now and is doing great! :)

Who are your lenders with? Are they storefront or online? Storefront lenders are USUALLY easier to work with if you call them and explain your situation.


lrhall41

Submitted by Jessi on Sat, 07/01/2006 - 04:38

( Posts: 3361 | Credits: )


Amy, go to your bank and close account. You can not go on this way with 2 kids. It will never stop. I am not to familar with the store-front lenders I did have one First American Cash Advance. The Attorney General told me to close checking account. You will get the nasty calls but they will stop. If you get attorney general on your side they dont like it. They will not fight the legal system because they are illegal. I sure Va. is working on this problem as well as WV. The attorney general was my lifesaver. I overpaid all of these people a whole lot. Good Luck God Bless KYSIDE38


lrhall41

Submitted by KYSIDE38 on Sat, 07/01/2006 - 11:49

( Posts: 2477 | Credits: )


Wow! Amy there are some people who are giving you some not so good advice. Please disregard that advice.

Fist off what state are you in? I will use this infomation to look up the laws in your state. So please do not go close your checking account. In some states that could bite you in you butt!

Since you have store front lender loans, you are going to need to work things out with your lenders and set up payment arrangements.


lrhall41

Submitted by polly on Sat, 07/01/2006 - 11:58

( Posts: 1709 | Credits: )


Amy, I am not trying to give you bad advice. The Assistant Attorney General in WV had me close my account. My loans were all overpaid... Severly..on a 300 loan I had paid 1200 in interest. These people are vultures..They take advantage of needy people. I do not owe them one dime they owe me. So far I have got two refunds. They are signing letters stating they will no longer do business in WV. Contact your AG office first thing Monday. They can give you the expert legal advice you need and they are free. Consumer and Antitrust division. Someone will talk to you. Good Luck Kyside38


lrhall41

Submitted by KYSIDE38 on Sat, 07/01/2006 - 12:17

( Posts: 2477 | Credits: )


But kyside your state does not have specific payday lending laws, it has the consumer finance law, which will protect you and other residents far better. You probably had internet lenders which are typically unlicensed and charge usurious interest rates. Amy has store front lenders which cannot hide from the law like the internet lenders.

I see now Amy lives n VA, which has payday lending laws. So Amy calling the AG of her state regarding companies that are operating within the letter of the law is very futile, wouldn't you agree?

I am just saying you cannot offer advice from your situation because her's is different, and a little homework needs to be done first. Closing a checking account in some states could cost a person more in fines, and larger ramifications ultimately, that just allowing the check to bounce as nsf.


lrhall41

Submitted by polly on Sat, 07/01/2006 - 12:29

( Posts: 1709 | Credits: )


I would never agree that calling Attorney General is futile. They can offer the best legal advice you can get. Also they are there to back you up. I had one company that tried to take part of my wages. This was stopped immediately with one phone call. I had one store front loan and it was taken care of with attorney generaals help. I may have been in better situation than this person all of my loans were overpaid.... Did not mean to cause any trouble I would not hurt anyone intentionally on this site. Everyone here has been such a great help. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Sat, 07/01/2006 - 12:35

( Posts: 2477 | Credits: )


Thanks! At this point I'm not in default but I will be when July 14th hits and all that crap comes out of my account. Should I just open a savings with my bank, and work on paying these places back one at a time? I really would like to consolidate because I also have a couple of other bill. My payday loans are about 3,200 and my other bills (phone bill and credit card) are only about 500 or so.


lrhall41

Submitted by quietrain81 on Sat, 07/01/2006 - 13:26

( Posts: 53 | Credits: )


Here's another thing my storefront lenders do.

They don't call it "rolling over" or "renewing".
For instance when the loan for $350 comes due, I will pay back $402.50. Then turn right around within 30 seconds and borrow BACK the $350 and sign a whole new contract to pay $402.50 in two weeks.

It's a vicious cycle.


lrhall41

Submitted by amycollier35 on Sat, 07/01/2006 - 16:07

( Posts: 15 | Credits: )


In California, the max the storefront lenders will loan is 300. Initially, when you write your check they give you 255 back. When the check comes due you pay the whole 300 back and then can "re-loan". So its the same deal only the amounts are different. I wonder why California has a cap of 300?


lrhall41

Submitted by Lorri on Sat, 07/01/2006 - 16:43

( Posts: 1721 | Credits: )


oklahoma amount is 500.00 here u right the check for the amount say you get 500 ur check needs be fore 565 and you get the 500 and when u pay back u pay back the 565 that at advance america it the only place around here that says must pay back all in once other places let you do monthly payments to pay back . which is good i suppose. sorry got ranting. delete if neccasrry


lrhall41

Submitted by identity_crisis04 on Sun, 07/02/2006 - 15:29

( Posts: 212 | Credits: )


Amy, I also live in VA. If your payday loans are all storefont, I suggest you contact them and try to negoiate a reduced payment plan. I had 5 storefront loans at one time, this is what I did.....

First, I wrote each of them a letter stating I could not pay the amount in full but telling them what I could pay....I paid $25.00 to each every pay day until I paid them off. Only 1 of them refused to accept payments. Online lenders are not licensed in VA and can't come after you.

Please file a complaint with the AG's office in VA.


lrhall41

Submitted by joyfordream on Mon, 07/03/2006 - 06:10

( Posts: 104 | Credits: )


Eric,
Is Checksmart online or storefront?
Possibly collection agency for either...
Possible (but not usually) garnishment for store front, not online
never criminal charges for either...

If you contact them and discuss arrangements they will work with you..If you communicate with them and prove that you're willing to pay, you should be able to avoid all of the above.


lrhall41

Submitted by finsfan13 on Sun, 07/16/2006 - 15:01

( Posts: 6919 | Credits: )


I am so glad to find people in my situation with PDL. I am very sorry to find people in my situation as well. I used PDL to help pay for surgery and now I am barely making end meet just to pay the finances. I have one from Route 66 that is from February and I have paid $79 bi-weekly since then. So, now I am in PDL hell as well with 8 outstanding and I didn't see any light out there until I came on this site. I live in GA and I know that this state has PDL laws, so maybe that will help me. I know the first thing I am doing tomorrow is closing my bank account that I have had for 10 years. I have also joined this site and hopefully someone will call me soon.


lrhall41

Submitted by michaelsmom on Sun, 07/16/2006 - 15:32

( Posts: 45 | Credits: )


Eric,
Is Checksmart online or storefront?
Storefront
Possibly collection agency for either...
Possible (but not usually) garnishment for store front, not online
never criminal charges for either...

Isn't for me someone put me down as a reference and is not paying.


lrhall41

Submitted by on Sun, 07/16/2006 - 18:58

( Posts: | Credits: )


I joined here and never received a phone call. Please, I really need help! I am in Texas, and I have 8 online payday loans that automatically take money out of my checking account every other week. I now have to work my bills around the loans. If I can I pay, if I can't, I don't. I don't know what else to do.


lrhall41

Submitted by molinadarwin on Sun, 07/16/2006 - 19:08

( Posts: 7 | Credits: )


Molina please go to the link in my signature area below and use the template letter for settling with online lenders. If you need help locating the laws in TX, let me know. These online lenders are often not licensed and operating illegally by loanin to you. You can fight back. Let me know if you need help.


lrhall41

Submitted by polly on Sun, 07/16/2006 - 19:27

( Posts: 1709 | Credits: )


Polly, thanks for the link....I got right on it, but I do need help locating the TX laws. I tried myself, but I must be doing something wrong, because I can't find anything. Your help is greatly appreciated.


lrhall41

Submitted by molinadarwin on Sun, 07/16/2006 - 21:24

( Posts: 7 | Credits: )