For what its worth... Collect Corp is now Gatestone

I need assistance with getting out of this cycle of payday loans. I originally had a total of 6 payday loans at one time and have managed with disciplne and alot of sacrficing to get that down to 3. The two online loans are whats killing me ChecknGo and Plain Green loans. ChecknGo I paid 6 payments of $317.62 on a $2000 loan, then refinanced due to car trouble, and since have paid another 4 payments $364.55. With Plain Green I have made 9 payments of $114.21 on a $1700 loan.

First off I would like to say thanks for the great advice that I have been receiving from this forum. I have several payday loans that I am trying to get behind me. I am a resident of Pennsylvania so that is a big plus. My question is: Is it ok to present to the payday loan co. an ultimatium that either they consider my loan paid in full and closed or they are welcome to take me to court (arbitration). I know it sounds so cut and dry but wouldn't that stop all the back and forth annoying phone calls, E-mails, etc..??

The supervisor sounded completely shocked when I told him my loan was illegal. I took out $1000 (+$500 origination fee) a month ago, and the balance is now $1750. I offered to pay off the $1000 in full, but he said he is sending it over to his legal team. I told him payday loans were illegal unless licensed by the State of Ohio. He said W Sky funded the loan. How do i get them to agree to only taking the principal balance?

Jason You have elected us moderators because of our experience in credit and dedication to this forum. We need to be trusted when we make the decision to delete posts. Case in point...StevenDoyle...he whined to you because I deleted one of his stupid posts. You restored the post. This gives us as moderators or this forum any credibility. Case in point...Steven Doyle makes up information just for the sake of posting.

I have a financial nightmare and no way out. I borrowed from online payday companies and every paycheck after all of their rollover fees are deducted, I have nothing to live on. I had planned to pay them in full w/my tax return. That didn't work out because I am being audited! I adopted (related children) to keep them out of the system. IRS is not accepting any expenses except the actual court and attorney fees so I won't even be able to pay these loans off in full anyway. I have not been able to pay my rent or my car payment. I am about to be homeless and w/o a car.

[FONT="Arial"][SIZE="4"][/SIZE][/FONT]I reside in Texas and have three internet PDL's Vip Loan Shop $500 Sure Advance $500 Cash Direct Express $500 All three are over 7 months old and all three have taken $100 plus twice a month from my bank account. VIP and Sure Advance have been taking a additional $50 twice a month to "apply to balance". Hower they are now demanding $750.00 I closed my bank account t o stop them from sucking my blood dry. I was immediaetly contacted by collection agencies. I ask for loan validation. Two agencies refused.

Well, I am happy to report as of 4/13/12 I will have all my PDL's (store) and 1 line of credit to Checkngo competely paid off. I did have to make a choice and go without alot to get here. It took months of figuring out how to chip away at them. I was tired of crying. But now my next step in life if to not do it again. Learning how to live below my means for a change. And now I am working on getting a savings together so if this happens again I wont have to go to a PDL for help. I wish everyone here the best of luck in life and please never feel you are alone.

Hello Moderators, I will be working on some media outreach for debtcc. If there are any posts made claiming to be connected with any media outlet, or as an interested member of the press, please alert me. On that note, one of the best sources on the internet for people to learn about PDL issues is this very website.

My husband and I have 8 unsecured credit accounts that have been charged off. We have already been sued twice and reached settlement agreements with those companies, Citibank and Amex respectively. The 8 accounts left defaulted between 2.5 to 3 years ago and have not only been sold by the original creditors but have passed through the hands of many different junk debt buyers. We now have an opportunity to try and settle these debts but would like to get an idea of what would be a "reasonable" offer.