I am in official payday loan default

Well the store fronts I am contacting today, but the internet ones I have one that is owing 260 one that is 360 and one that is 250. So should I just call the storefronts and say I can pay you 20 a month right now and that is it. And then the internet ones just send them each 10.00a month. Will I go to court if I am paying something? I am in Wisconsin by the way

you will find your state info here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


The storefront lenders can take you to civil court if you do not pay them back, the internet pdl most likely will not because they are usually not operating legally in any state

thanks so much for all your help!

No problem! Let us know if you need any more help!

Does anyone know how to contact t&c. I have some payday loans out, two of which I have defaulted on. One of them even made my rent check bounce...so now I am in real trouble. Does T&C do all types of consolidation or just pdls?

I am about to default on 7 payday loans. I live in Missouri and am moving out of state. Can I go to jail if I close my account and just try to work out payments with them?

I forgot to ask... If I work out payments with them... Are they just going to charge me what I owe or every two weeks are they going to add the outrageous interest fees onto them?

These are the payday loan laws for your state.

Missouri State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

So if I close my account i can be criminally prosecuted? Do you know how many times they can run my check through?

I have officially defaulted on 7 payday loans as of this week. In FL can they go after me for a bad check seeing as this is a payday loan based on an electronic check?

Oh I should mention that all of th eloans were made online, not at a store front. Please help! I am so nervous right now. I want to pay the debt and tried to get a normal loan to do so but was turned down. It was either default on these loans or stop feeding my children.

I too have defaulted on 6 pdl's. I closed my bank account two weeks ago and today is the firs day that two of the 6 have called me. They tell you that they will not call your references, but they called my mom today and told her that I used her number as a back-up number which was a lie. Who is T&C and how can I contact them?

Hi. Just found this site. I just defaulted with CTC (cashtransfercenter) (closed my checking account) last Friday. I sent them a money order for $100 and a letter explaining my repayment plan. They called and said that wasn't acceptable and I would need to cancel my money order, so I said as soon as I opened a new savings account I would pay the whole thing off on Oct. 15th. She says that doesn't work either. So far, we've just been leaving messages and haven't spoken in person. Crazy. What are my rights here? Can I legally ask her to stop calling? What sort of repayment plan must she accept? Thanks for the info.

musicteacher, STOP! Cash Transfer Center is highly illegal. Here is what you need to do RIGHT NOW! I'm sorry, but I get frantic regarding this. You need to type a letter revoking any wage assignment you have signed with them. They will present your employer with a wage assignment (which is voluntary) and have them pay Cash Transfer Centers and your employer will take it out of your paycheck. You need to type this letter up NOW and fax it/email it/ mail it certified to them. Do this immediately. Now that they know they don't have access to your money, they are going to send it out to your employer. Do NOT speak to these people on the telephone. If they want anything done, it must be via email or USPS only. Do not make payment arrangements with them. musicteacher, you need to get that letter out right now. Send it certified mail. Do not give them any bank account information whatsoever. None. Please take my advice here. I have learned the hard way. I want you to do the letter now. Send it now. Then please post and we can go from there. You need to file complaints regarding this company. Please, please do this letter so they do not try to get money from your employer.

Well I have to say it makes me feel a little less scared when I read there are others out there who have defaulted on their payday loans.I did it last Friday. I had 5 and just could not do it anymore. Changed my acct and closed old one...My question is does anyone know if they can find out my new bank and bank information??? I am so scared about that. And how long do they quit harrassing you??? Does everyone just send in small pmts until they are paid off or what???

HELP

I have ten payday loans and need to get out from under them...it takes my whole check...how did you freeze your account so they could not do the debit?

we closed our accounts and opened new ones at different banls.
Tell us a bit about your situation
who are your lenders
how much borrowed
how much in total paid to each lender
store front or internet
state you live in.
We can help you here.

I too am in default with my ACE payday loan. They called and said I had a penidng warrant.

I leave in tennessee, will I go to jail with a storefront loan. I got the loan in 6/1/07. They say I have a pending warrant.

mkc, I'm posting TN state pdl law for you. Please note that it says Criminal Action: Prohibited. You will not go to jail. The most they can do is take you to CIVIL court, not criminal court. You took the loan out almost a year ago? Have you paid anything on it at all? Have you been in contact with them at all during this period of time since you took the loan out?

Tennessee State Information

Legal Status: Legal

Citation:
Tenn. Code Ann. ????45-17-101 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill,

I am lookin at your post for the first time and i was wondering what T&C is ? i have a payday loan i have not paid and they are really bugging me. any advice??

T& C is Town and Country a consolidation company.

Help...I have seven payday loans and have defaulted on four. The only reason three of them are still going is because they rolled over. I placed stop pays on three of them, but the Bank told me a stop pay is only good once. Will the lenders continue to try and debit my account every two weeks in hopes of recouping their money? I want to request to be on payment plans so I can get them squared away, but will they allow me? I can't really close out my bank account because my girlfriends name is on my account also. She has her own checking account, but I don't want her to know that I screwed up. Please help. JT

Hey JT!

I am still kind of new here, but I do know that these are what will be needed to help you:

Your lenders
How much you have borrowed
What you have paid (finance, fees, rollovers)
What state you live in

Someone will be along that knows alot more than me, but if you can go ahead and get that info together, they can get the ball rolling and you will be feeling better about this in no time!! Hang in there!! =)

Ok I guess I have 8 outstanding. I am located in California. These payday places are located all over the place. One is even out of the country. The ones I have already defaulted on are as follows:
MyLoansUSA borrow250 payoff295 no rollover
CashNetUSA borrow250 payoff296 no rollover
500FastCash borrow300 payoff390 4 rollovers @$90each after which it starts paying down principle by $50 with a lower interest charge

Ones I have not defaulted on (yet):
MesaFinc borrow325 payoff400 auto rollver $75
LoanShop borrow300 payoff390 auto rollover$90
LilLoanShoppe borrow300 payoff390 rollover$90
PaydayServices borrow150 payoff195 4rollover $45.00each after which principle decreases by $50 with a lower finance charge
EZPayday borrow300 payoff390 6rollovers $90each after which principle decreases by $50 with lower finance charge

What a nightmare! This has been eating at my stomach and keeping me up at night. One of them I signed a wage assignment so I will be cancelling that ASAP. What about my bank account? Will they continue to try debiting every two weeks. Should I stop my direct deposit? I have every intention of paying these eventually but I don't want to end up not being able to pay my rent because they emptied my account. Do you know what I mean?

first thngs first. Close your account asap so they can no longer debit you. Open a new account and do not give that number out. The loans that are not legal all you are obligated to repay is the amount borrowed. I will post the laws for your state.

California State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

What if closing my account is not an option? Can they legally continue to debit the account every two weeks till forever? What if I call them and get on a payment plan to make pmts once a month?

they will contine to debit you until the earth comes to an end. If you notify them and try to make arrangements it will be worse. They will go in and take everything. You cant stop payments because they have so manty names they will just go in under another name. If you cant close your account then a hard debit block may be an option

they will continue to debit,the kicker they will only count that as finance charges.it is incredible but you have to close or put your account on hard block or deposits only.wish there was another way,but they will debit indefinitley.

What if I report my checkbook/ATM stolen/lost? I just don't want my girlfriend to find out I screwed up and her name is on the acct too. She has her own acct at another bank, but they would need both of us to close this acct. If I report my checkbook/ATM lost/stolen then don't they just close the account and then I can open a new one? Please help.

If its a joint account wouldnt they need both signatures to open another account. I dont just think they open accounts without you going in person to sign some papers. If I am wrong , please someone pop in.

Do the lenders only debit your account according to the pay periods you gave them? (every two weeks on fri) Or do they just debit whenever they feel like it? I also have about $35,000 in medical bills with some old credit card debt from about 7 years ago. My dad keeps telling me to file bankrupcty so I can start over with a clean slate. Would I be able to include these payday loans in the bankruptcy? If so, would that prevent them from debiting my account?

By the time the bankruptcy happens they will have debited a million times. Can you put a hard debit block on your account. Some of your loans are not even legal.

I can try to. I had previously tried to place stop pmts on two of them and my bank gave me a hard time. I was told by a PDL Assistance Rep to place stop pays on the actual Company names, not dollar amounts and my Bank would not let me do that. If Name and Dollar Amt did not match 100% then it was gonna go through. I bank with Bank of the West. So I'll try to place a hard debit block and see what the bank says.

I can try to. I had previously tried to place stop pmts on two of them and my bank gave me a hard time. I was told by a PDL Assistance Rep to place stop pays on the actual Company names, not dollar amounts and my Bank would not let me do that. If Name and Dollar Amt did not match 100% then it was gonna go through. I bank with Bank of the West. So I'll try to place a hard debit block and see what the bank says.

please do that,also do not let the pdl's even suspect something is up.they will leave you in a sea of red ink.get your bank account square then lower the boom.when you go to your bank ask for the manager directly.that will get it done faster than speaking to anyone else there.

Stop payments usually do not work. If a pdl can not get the mney due to a sto[ payment they will just go in under another name. they have and ise so many. It just does not work. They will even try to put thru a paper check.they will change the amount, they will do what ever they can do to get your money. The only things that wil stop them is to close your account or put a hard debit block on the account.
Please trust me a stop will just not work. I have been there.

What is t&c?

OK SO I CALLED MY ATM/CHECKBOOK STOLEN AND THE BANK CANCELLED THE ATM AND PLACED A HARD STOP FOR CHECKS/DEBITS, ETC. THE STOP IS GOOD FOR 15 DAYS GIVING ME ENOUGH TIME TO GO IN AND OPEN A NEW ACCT. WHAT HAPPENS NOW? IF THE PDL'S KEEP TRYIN TO DEBIT THE CLOSED ACCT...WHEN MY NEW ACCOUNT GETS OPENED, WILL THE BANK KNOW TO DEBIT MY NEW ACCT? OR AM I OK BECAUSE THE NEW ACCT WILL HAVE DIFFERENT NUMBERS? IM STILL SO STRESSED OUT OVER THIS WHOLE THING BECAUSE ONE OF THE PDL'S DEBITED LAST NIGHT 2 SEPERATE ENTRIES. ONE OF THEM WENT THROUGH LEAVING ME WITH A $3.00 AND THE OTHER WAS REJECTED. DARN!

SO I DID EXACTLY AS YOU TOLD ME WITH MY BANK ACCOUNT. BUT I KEEP GETTING NOTICES IN THE MAIL FOR NSF FEES. EVERYTIME ONE OF THE PDL'S PUT SOMETHING THRU, THE BANK REJECTS IT AND CHARGES ME AN NSF FEE OF 32.00. WHAT THE HECK? IT'S A CLOSED ACCOUNT. I CALLED THE BANK AND THEY TOLD ME THAT THEY CAN'T STOP THE DEBITS FROM COMING IN. THEY HAVE TO REJECT THEM AND CHARGE ME AN NSF. IT IS UP TO ME TO FILE A CLAIM WITH THE BANK TO SAY THESE DEBITS WERE NOT MINE. ARE U SERIOUS? IS THIS LEGAL? SOMEBODY HELP ME. I REPORTED MY WALLET/CHECKBOOK/ATM LOST. CLOSED THE ACCOUNT AND OPENED A NEW ONE. CAN THEY CHARGE ME NSF FEES ON THE CLOSED ACCOUNT? THIS IS RIDICULOUS! PLEASE HELP. THANKS

ANYBODY OUT THERE? I AM FILING FOR CH7 BK AND I'M WORRIED THE PDL'S WILL SHOW UP AT THE MEETING OF CREDITORS. CAN I EVEN INCLUDE THEM IN MY BK? WILL THEY TRY TO MAKE ME PAY?

Hey all. I have an outstanding payday loan and unfortunately dont have the funds to cover it yet. They keep calling my job and advising me they are going to have their legal team call my manager. What do I do? They call twice a week....Thanks

Hey all. I have an outstanding payday loan and unfortunately dont have the funds to cover it yet. They keep calling my job and advising me they are going to have their legal team call my manager. What do I do? They call twice a week....Thanks

Can you tell me if any of these pdl companies are illegal?

Moneytree, MyCashNow, Cash Central, Sonic Cash, PaydayOne, ThinkCash

Thanks!

Can someone tell me who T&C is? My wife and I have a total of 7 payday loans. We have 3 kids and one on the way. We both work and make decent money. I don't even know how we fell into this trap. These places are loan sharks and they prey on people who are already in financial strain. We stress about these loans every day and have to find a way out of them. So far I have come to the coclusion that the only way to get any breathing room is to cancel all the checks and close our bank account. Any help would be appreciated.

I HAVE TWO PAYDAY LOANS..ONE IN THE AMOUNT OF 800.00 AND THE OTHER IN THE AMOUNT OF 1,000. THESE ARE FROM SMALL COMPANIES, MAYBE THREE IN THE WHOLE STATE OF TEXAS. I RECEIVED A LETTER FROM THE 1,000 ONE WHICH I THOUGHT WAS AN UN PROFESSIONAL LETTER, MADE OFF THE COMPUTER. IT STATES THAT I HAVE 10 DAYS TO PAY THIS 1,000 UP PLUS TACKED ON AN EXTRA 200.00 OR IT WOULD BE REFERRED TO THERE MAIN OFFICE AND FILED WITH THE D.A. UNFORTUNATELY I DONT HAVE BUT MAYBE 10.00 A MONTH TO PAY THEM. ANYONE WANT TO TELL ME HOW TO RESPOND TO THESE PPL. OR AM I GONNA GO TO JAIL???

I, too, have defaulted on 2 payday loans (internet). I received a call from a lawyer's office today(or so they say), and they told me I needed to have a lawyer because the police were coming to serve me with a warrant at home and at work. First of all I lost my job last Monday, and I have closed my checking account and opened a new one. I have tried to make restitution but to no avail. I live in Virginia. Can someone help me?

how does all of this work, I have about 9 and it is putting under too fast