Please Help Me

You live in Louisiana right. Okay now list what you borrowed from each lender and what you have paid back so far including the fees. Also list if they are internet or storefronts, okay?

Here are the Payday loan laws for Louisiana (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I'm not a 100% sure on all of these. I'll have to pull out my bank statements for my old account to get an accurate figure.

CashNetUSA: Borrowed $300 Paid : $100.00
NETCASHUSA: Borrowed $300 Paid: $545.00
Geneva Roth Cap: Borrowed $300 Paid: $360.00
LOANSHOP: Borrowed $300 Paid: $270.00
Payday One: Borrowed $500 Paid: $215 in fees
Payday One: Borrowed: 450 Paid: $395.60
Magnum Funding:Borrowed $500 Paid 603.21

Aminah, not trying to take over or anything but I have a question and a comment from another perspective of Maddie's post:D

Maddiesmom, Have you worked an agreement out with T&C. Part of what you are paying for is for them to work out the payment plans. If you are planning on or are already working with them and paying them, let them deal with this since you will be paying them for a service. In the mean time, if you are called, either do not take the call or tell the caller that you have siggned up with T&C and they will be contacting you (the company) on my behalf. SOme pdls will try to tell you they do not work with T&C but stick to your guns and keep repeating the same story. They want to get you to pay and pay now. Just hang in there.

If you are interested in working on this yourself, it would be worth while for you to go back through your bank statements. There are three pdls that you are so close to repaying what you borrowed and the more accurate the information is the better we all can help you.

What is T&C? I have the same problem as maddiesmom, but I live in Oregon. Is T&C someone that can help with these payday loans?

I haven't started paying T&C yet. I called them last week and I'm waiting on the paperwork right now. The problem with the ones that look like I'm close to paying them off is that the money I've paid is just for fees. They are all saying I haven't paid anything on the principle yet.

Sorry this is maddiesmom. I wasn't logged in when I started posting.

No problem Roxy. Youre the expert. What is T&C?

Aminah, I am by no means and expert...I am learning still. Everyone when they read see something different in a post. :wink: You are doing a great job.

Can payday loans report to the credit bureaus? They keep saying they will ruin my credit if I don't pay in full in 10 days.

OK...Here is the answer to one of the questions...

T&C - Town and Country Acceptance does credit counseling/debt settlement- They are one of the few that also will take on pdls.

Maddiesmom, According to the pdl's that is correct. You have only been paying them fees as far as they are concerned. But T&C will work out the settlement with the companies so there are no worries there for you. Just refer the pdls to them and give them your contact name and phone number.

Jojo - There are many options open to you. Please research them thouroughly before deciding. If you would like us to help you please list your companies, how much you borrowed, the total of how much you have paid each company and whether they are storefront or internet. Also, you should consider posting this on a new thread under your name. It helps us keep track of where you are and that way we know if you posted and can answer you quicker.

Ashley, if they are unlicensed and illegal, they should not be able to report to the credit bureaus. Sometimes they do anyway but it can be disputed and removed. I have not dealt with this personally but I have read in various other threads where it has happened to other members.

Ashley, I have never heard of a payday loan company that reported to a credit bureau. However, if the debt is sold to a collection agency the CA could report.

Fins...thank you...my bad...I was thinking of Cannr and was trying to type to fast..that is what I meant but not what I said.... :oops: Sometimes my fingers go faster than my brain. :lol:

I have a question for maddiesmom. Or actually just really want to point something out. According to this persons state pdl law, rollovers/extensions are not allowed. Am I correct here? So the money that this person has paid is NOT "fees", it should be going towards the balance of the principle amount of the loan. Rollovers/extensions are not allowed. Am I getting confused since others are posting on this thread? Or am I correct in seeing that this person has paid on the principle of the loan? I'm looking at the pdl law for this persons state. Am I missing anything?

Cannr - again, my bad...I got a little confused when answering all the different posters questions...Ashley was the one talking about fees and principle and I am not surewhich state she is in. :oops:

Regardless this should apply to Maddiesmom's situation...So if we am correct, the only one she would have to worry about working out a payment plan with is CashNet??

roxy, I just went back to read the original post. I do believe that PayDayOne is licensed. CashNetUSA is licensed. The others I don't believe to be. And Magnum, of whom is not, is INSANE with those payments! INSANE. Obviously. Now where in the world are they coming up with that amount? Their illegal "fees" for rollovers/extension of which are prohibited? She's already overpaid them anyway. She's already overpaid NetCashUSA. She's already overpaid Geneva Roth. Loan Shop (illegal) she only owes like $30.00, and they're not even licensed/legal so basically they can take a leap. However, CashNetUSA she does still owe on and PayDayOne she does still owe on. And I know for sure CashNetUSA is licensed/legal. And I am almost positive that PayDayOne is licensed/legal. The other ones can "vanish" with your magic wand!

Thank you....I hope she reads this. I am thinking she could do this on her own. I would just depend on how much she was willing to take on.

True. From what I can tell, only two would be licensed/legal. The others are insane. So, maddiesmom, please let us know what you think. We can help you here. :D

This is Maddiesmom, I finally logged on. I wasn't sure which of the loan companies was legal and which were not that's why I figured it was better to just contact T&C to pay them off. So am I right in thinking that the companies that have been charging me rollover fees without taking any towards the principle have been paid. How do I take care of them? They all are calling me all the time at work and I'm afraid they will start calling my boss and references.

Ashley, I am happy you joined and it is nice to know we were not loosing our minds :lol: Yes you are correct..you can put the others on the backburner and concentrate on CashNet and PayDay one. Do you know how to use the pm feature. It is a button on the bottom of everyone's post. Click on this and you can send a private message. To see if you have messages on the right side of the page under CHAT is your mailbox information...It should say You have 1 new message...becuase I just pm'd you a test message. Click on that and your message should be there.Let me know if you get it.

Ok.. now..As for your contacts and them calling you at work, they usually do not contact your references as long as they can contact you. As for your supervisor, some members have had them call their supervisor, some have not...We will help you take care of all the companies with a letter. We advise the member do everything in writing to have documentation regarding any agreements or payment plans. Once we get the pm going I will send you a letter to use as a guide.

Ashley, I pm'd you tow letters, you can use either one or you cut and paste to make your own. Check your pm's for those. If you have any questions, either post or pm them to me. Roxy

Now I'm starting to get really worried. Ms. Sutton with the Fraud and Internet Trafficking department of Geneva Roth just called my office. She says that a complaint has been filed in LA and they will involuntarily come after me at my place of employment if I don't contact her in 24 hours to pay this debt. Part of me thinks this is a load of junk, but I'm not sure.

Ashley, do NOT be frightened. Geneva Roth is an unlicensed/illegal pdl. They are using illegal tactics to scare you into contacting them and to scare you into paying them. I promise you. No one is going to come to your place of employment, your home, or any other place for that matter. You are safe. They are doing this to scare you, okay? Fraud department. Good Lord. I've had "fraud" thrown at me 100 times by illegal companies. I'm still here. No one came and got me. They are using illegal scare tactics, ashley. I promise you. You will go home, have a good night, go to work tomorrow, etc. No one is going to come after you. Please do not be afraid.

Ok. That makes me feel a lot better. Should I call her back or just wait until they get the letters I'm working on to send to them?

ashley, don't call them. You don't want to speak with them via telephone. Wait until you send them the letters. You want everything documented. This is why they want to "talk" to you. They can say anything via telephone. You want everything in writing, okay? Do not worry. Just send your letters, don't take their calls, and do everything via email or USPS. Get documentation of everything. We are here for you! :wink:

I won't call them. I'll be working on my letters tonight so I can get them mailed quickly. Thanks

ashley, if you need any help or run into any problems, just post. We'll help you.

the fact that you have so many payday loans tells me that you already have bad credit. you did the right thing by switching to a new account. tell the people you owe that you will give them so much as you can afford to pay them. and i would tell all of them to send you something in writing (email) to show what terms you agreed to. do not pay geneve roth cap anything until they send you a statement with their name, address, phone number and website. what's the worse that can happen? bad credit? you already have that.