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Payday Loan payments are way over what I borrowed

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I acquired two payday loans to help during a bad time and now I can't get them to stop taking money from my account. I borrowed 500.00 from Sure Advance on 7-31-12 and they've taken 859.00 this past 4-months from my account and are telling me today that I still owe 488.00. I got scared and called the other place. I got 1000.00 from It's My Pay Day through National Opportunities Unlimited on 7-11-12 and they've already taken 1820.00 from my account and state I still owe 800.00. I think I got desperate to catch up bills and got scammed. What do I do at this point? How do I find out if they are even licensed in Oklahoma for loans? I'm really stressed and don't have the finances to keep paying them.These people are worse than loan sharks. Please help me.:confused::confused::confused::confused:




Sure Advance is not a legal payday lender. You're required to pay only the principal amount to them. You've paid an extra $359 to Sure Advance. So, ask for a refund in writing.

Sub: #1 posted on Thu, 11/15/2012 - 19:46

Unregistered


Unregistered failed to give you the whole story...which tells me he was just guessing at the answer. BOTH are illegal...rollovers are not permissable in OK. Plus the interest is in excess of OK payday loan laws.

Follow the link in my signature line for complete information on how to deal with these lenders. Follow ALL of the steps.

Sub: #2 posted on Thu, 11/15/2012 - 19:52

SOAPLADY SOAPLADY
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Thanks for your response. Can you please tell me what makes them illegal and what are the interest rates for Oklahoma. Also, I apologize for asking, but this is my first time being in a forum so I'm not sure where or what a signature line is. Thanks in Advance.

Sub: #3 posted on Thu, 11/15/2012 - 20:08

ChristineD ChristineD

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As I stated above, rollovers are not permissable...sign that they are not licensed or complying with state law.

http://www.debtconsolidationcare.com/paydayloan/explain-p dls-laws.html

Sub: #4 posted on Thu, 11/15/2012 - 20:42

SOAPLADY SOAPLADY
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Closed my checking account and opened a new one. The bank manager was very helpful. She also did forms to investigate and states she'll try to recover at least the past two months of ACH's. She also asked for a copy of the contract so I called NOU and asked for the current contract and receipts for each payment made and what the payments were for.
NOU emailed me about a dozen different contracts with a dozen loan dates, loan numbers, APR's, payment and loan amounts. I called them back and was told they are the receipts and all I need do is click on the light bulb looking icon so they have verification that I received the receipts. Tried to explain that all the different numbers and I will never click on the icon because it means I'm providing an electronic signature on all of them. The NOU employee told me that each one was for the renewal (rollover) for every two weeks and I needed to sign and send them back. I told him I NEVER agreed to a renewal and my contract states 1 payment of 1250.00 and it's not my fault they didn't follow the contract. He states they have the right to rollover at their discretion per law. I advised him if he knew that Delaware law states the limit on payday\small loans is no more than 500.00 until the new House Bill #289 takes effect on 1-1-13 raising it to 1000.00 and even then the law states he needs my thumb print on the loan agreement which he also doesn't have and he hung up on me.
I'm can't figure out what they're trying to pull, but I'm starting to get concerned. What more can I do to protect myself.

P.S.
Soaplady can you answer, you seem to have the best advise, unless you have someone else who can answer, Thanks much :p

Sub: #5 posted on Sat, 11/17/2012 - 18:00

ChristineD ChristineD

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Soaplady was very clear - the lender is not legal.

Sub: #6 posted on Sat, 11/17/2012 - 18:21

waffles waffles
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