Payday loans drowning in debt
Date: Tue, 12/19/2006 - 08:17
First, signing up with this site was a good thing. A counselor
First, signing up with this site was a good thing. A counselor will be calling you to discuss your situation. Have you tried communicating with your lenders, see if they will work with some kind of payment arrangement. Are you dealing with online or store-front lenders. If you go to paydayloaninfo.org you can check out the laws for payday loans according to your state. Make sure they are following the laws and that you have not overpaid.
I'm pretty darn sure the store front lenders are following the l
I'm pretty darn sure the store front lenders are following the laws, but who are you online lenders? You should talk to the storefront lenders to see if they would be willing to accept some kind of payment arrangement. Storefronts are more likely to sue than online lenders.
payday debt
Here is a letter to send to the store fronts and call the regulatores that i gave you to see if the online ones are even licensed to do business in your state. If not ask the regulator what laws are in place to protect you. {Date}
Quote:
{Name Pay Day Lender} {Address}. {City, State, Zip Code} Dear Manager, I regret having to write this promissory note but I have no other options at this time. You have been more than fair and this is very hard for me to address, but as you can see I have been a faithful customer for quite sometime. Due to financial difficulties I am unable to pay and re-borrow my loan at this time. Unfortunately I don????????t have any support system to ask for help. I am not the kind of person to run out on my debts and I WILL pay my bill in full, but I have to make arrangements with you at this time, I commit to paying ( $ ) per month, more if possible, until the ( $ full amount ) is paid in full. I do not and looks like will not have enough money in my bank account therefore would appreciate it if you don????????t try to deposit my check as additional fees will only worsen my situation. I apologize for the letter contact but it is embarrassing and I don????????t want to address this issue in your office lobby while others customers may hear my situation. Thank you and fill free to contact me at home ( area code-phone number ) . Please do not contact me at work as this is a personal matter and I am not allowed to receive personal calls at my work. Respectfully ( Your name here ) {Address}. {City, State, Zip Code} |
You can also fax a letter to the online lenders revoking authori
You can also fax a letter to the online lenders revoking authorization from your checking account as well.
payday debt
Get in touch with your bank MANAGER and let him/her know what is going on. My suggestion is to close your account and then tell the store fronts what you can afford to pay back every month. This way they wont keep hitting your account. Also if the regulator says they are not licensed send them a certified letter not to bother you at work. Send in a complaint to the regulator.
on line loans
I and my husband both have payday select I also have paydayok and my husband has usfast cash on the internet store fronts we have advance america, instant cash and payday advance.
payday debt
Go to getoutofpaydayloandebt.com This is a free site i put togeather to get people out of debt. I these payday loan places wont work with you on your terms then we get the local goverment after them. Dont be in this kind of debt.
I made arrangements
I have made arrangments with two of my store front loans to pay payments. In Michigan after 8 payments to any payday lender you are protected by this law so I more then qualified for this and it looks like I will get out of those two in the next month or so I am having no luck with the online ones my checking account has been drowned in these my overdraft protection is maxed out I can not close my account until it is current. I am going to fax them the revoction of rights to see if that will stop this unslaught.
Did you block the internet pdls from accessing your account? Thi
Did you block the internet pdls from accessing your account? This would've stopped them from debiting your account. Federal law allows you the right to stop your authorization of debiting your account, provided you notify the company and go to the bank to stop the debits. Do you have the option of opening a new account at another bank?
Stopping online PDLS
I have just begun sending e-mails revoking this right I will send faxes on Monday. The only option I received from the bank was closing my account which I can not do untill it is current and I have paid them back my overdraft protection. So after 2-2 I will close this account and get a different one I may be able to freeze them out I will call them back and see but at this point it will just be returned to them as unpaid and cost me 29 more dollars. I am not depositing into this account except for my husbands direct deposit on the 3rd of each month. The bank is also making quite a bit off my stupidity
Just know that your bank will probably charge you a fee per comp
Just know that your bank will probably charge you a fee per company blocked, and make sure you try to get all of their dba's (doing business as). The fee is typically the charge of a NSF fee, but well worth the charge to keep them from your account. And these companies are required by law to honor your debit revokation authorization.
Fees
Yes the online PDLs keep trying to take money from my account. It has cost me 19.00 per loan company to permenantly block them. This is ten dollars less then if they have to use my overdraft protection. My bank has been very understanding. By the 15th of Febuary I will be pay day loan free. This site has been so helpful and gave me hope when I felt despair Thanks to everyone I will have my Husbands and my PDLS done all 9 of them totalling over $3000.00 and will NEVER again feel this is a way to get a loan.