Drowning in Debt MN

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

These are the laws for your state. By the looks of things , it appears that some of your loans are way overpaid. Are all of these internet?

All applied for online, not sure what a "store front" pdl is...

an actual store that you walk into.They are usually operating legally, where as a major portion of internet loans are illegal

No, they were all internet.

Minnesota is one of those state's that allows pdl's licensed in other state's to operate there, and they would need to follow the laws of the state they are licensed in.

Ok, now I need to go back and see if their terms were all legit by MN law?

Lookks like you have paid off 5 of your loans already.Some you may be due refunds on.
please read the sticky on the top of the pay day loan page, and if possible you will need to close your account asap so these companies can not debit any more of your money

Oh. So I'm out of luck?

Even though I've paid the balances off, it's been in fees.

Not at all. You are in luck. All you owe it seems it 3 loans and not alot of money
capital you owe 210
us fast cash you owe 85.00
cash net usa which is legal you about 175

Kash - MN allows pdl's to follow the laws of the state they are licensed in. MN laws would not apply, unless the company is actually licensed there.

Some of hers are not licensed anywhere. Big is overseas, impact i believe is not licensed. I had that one. apple i am sure is also unlicensed.Web also I believe to be unlicended. I will check on the others

Net Cash and Cash Net are licensed.

Thanks I was just looking up those two

So...what do I do? Keep paying on the 3 and what do I do about the others? Contact them?

Have you read the sticky about closing your bank account?

The ones that are legal I would recommend paying by money order. At least once you default, the fees will stop and you will be able to pay down the balance.

The illegal ones, they can wait. You need to file complaints against these companies with your state AG, state DFI, and BBB. Also, you will need to send them letters demanding that they mark your loan paid in full.

Yes. Just spoke with the bank, they have a block on all that attempt to debit from my account. I have direct deposit going in tomorrow and they will close the account as soon as that posts. I am meeting with them in the morning. Is it wise to re-open an account with the same bank?

we reccommend using an unrelated bank. It just seems safer . That way there is no chance for error. also some banks may link accounts.

I will money order the 3 that are outstanding. Is there a letter I should send with the payments? How do I proceed with the others?

I would send them a letter outlining your payment plan. They may not accept it, but they will cash the MO. Just keep sending until you are paid off.

I will pm you a letter that you can "doctor " to fit your needs. I hope that you feel better now, knowing that your situation is so much better than you thought. do you know how to use the pm?

Oh, thank you! Hopefully I will be able to pay the 3 in full since I won't have to worry about the others. Is there a form letter I can get somehow for the others that I've paid several times over?

Check your messages. I pm'd you the letter.

No...just click on the pm?

Go to the side of the screen under the word chat. It will tell you if you have any messages. Click in that to open,
When you want to send someone a pm click on the pm button under their post. be sure to fill in the subject line or it will not go thru

Got it. Thank you soooo much!!!!

you are very welcome. I can almost hear your relief. You know most of us have been thru this. Its a bit of work,and hassle, but it can be done. It is a great feeling to once again have control of your money.

one more question...for the ones that are legal, that I have paid over the original amount, but still have not made a lump payment of the original amount, how do I handle those?

Yes, a huge weight off my shoulders! But I know the fight isn't over yet. Don't know what I would have done without you guys!

None are store fronts. You will wait to contact them, once your account is closed. You will make arrangements to pay them, but not with a check. Use a pre paid debit card or money gram .Nothing that has to do with your banking info. Never again give that out. And never apply for another on line loan.

The ones that are legal are unfortuantly charging you per the laws of the state they are located in. This means that what they are charging you is legal. They are using state's that have no interest rate caps.

So I have to keep paying them, even though I've paid out 1505 on a 500 loan, and 1024 on a 500 loan, etc?

On the legal ones, yes. They are charging you within the laws of their state.

So I still would have to pay the 500 plus the fee to be paid in full, even though I've alreaday paid them 1500?

OK..i will just have to get them paid off as quickly as possibly. And how do I go about filing complaints against the illegal ones?

Go yo your state's Attorney General's website, and your state's Dept of Financials website, anf there will be instructions and forms there. To file a complaint with the BBB, just go the bbb.org, and click on file a complaint.

Net cash is legal, and cash net usa is legal. I am glad that you feel better. just ask if you need anything. there is always someone here to help. I will check to see if any others are legal

Thanks!

Does anyone know if the following are licensed/legal? BIG, Impact Cash, Apple Fastcash, Web Payday, US Fastcash, Capital Funding Express.

BIG is not licensed anywhere. That is the only one that I know for sure of on your list.

Is there a form letter to use to ask the legal ones that have been way overpaid to close & mark paid in full?