about to lose it all

You will not lose everything you have..are these internet loans?

All is not lost, you said you are in NJ? PDLs are prohibited in NJ. You are going to be OK

Here is the link to your state's pdl laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=NJ

they are all internet obtained payday loans. u say they are prohibited in NJ?? where do i go from here?

they are not postdated checks. they just debit my checking account every two weeks. does the law still apply in that case?

Which companies are they and how long have you been paying on them? The first step most of us have had to take to regain control of our finances is to either have the companies blocked from debiting but in the end having to close and open a new account. You should use Polly's settlement template letter on her blog insert your state's pdl laws. Also you MUST file a complaint with your AGs office against each of these ipdls. (USPS, e-mail, and fax it to them). You may be threatened with arrest or fraud charges, but that is a lie and you will not be arrested.

united cash loans
vc funding
us fast cash
zip cash
auth pay day
GEC loans
MTE

all are $300.00 PDL's. I feel so ignorant. Not to mention embarrassed. I have no idea how to go about this. I obtained all of these loans while on my work computer and they all state that they record the IP address to prevent fraud. How do i contact the AG? I really dont know what to do... Im sorry for asking so many questions, but i am desperate.

Here is the link to your AGs complaint site:
http://www.nj.gov/oag/ca/columns.htm

And don't be embarassed you will find most of us have been in the same mess as you but came out of it just fine. First you will need to either block them from your account, which will prove to be difficult because they go by so many different names, most of us ended up closing and then opening a new account. Get the complaints in with your AGs office. How many times have you rolled over the loans? It may be that you can demand they mark you paid in full.

Meadow:

I agree with Steelers, sort of. The first thing you need to do is call your lenders and try to work something out. IF that fails, then the AG would be a good solution, maybe (the office may not be that sympathetic if these are new loans). If you go straight to the AG, they will probably want to see your efforts in dealing with these companies first.

honestly -- at this point i have no idea anymore which ones i have rolled over and how many times. all i can say is this has been going on since july. i have already lost my car, the cable is disconected and im on the verge of having the elec shut off, but it wont matter b/c im going to lose the apt if i dont do something. thank u so much for all of ur assistance.

You really need to gain control back of your finances. You must pay for the necessities first. I have dealt with a few of these companies myself, and they were NOT willing to work with me until I filed complaints with the AGs office. And if you have been paying roll over fees since July, chances are you have already paid back the principal and legal interest rate NJ allows, and should demand they mark you paid in full. But first you need to sit down and review your bank statements since July to make sure you know how much you have paid back. Obviously none of these ipdls are licensed in your state since NJ prohibits payday loans.

And from the licensing research I have done and many other members here have done, there are a few and I mean a VERY FEW that are licensed to lend in any state. One of the few that are licensed to loan in the states they give loans is CashNetUsa.

Cashnet USA does not operate in New Jersey.

thank u so much for all of the insight and information u have given me in this website. I'll be contacting all of the companies that i have loans with tomorrow. If I close my account this week will i suffer repercussions?

I was giving an example of one ipdl that operates within the laws in the state it loans to consumers and they are licensed in each of those states. I know that CashNetUsa doesn't loan in NJ because pdls are prohibited in NJ.

Probably just phone calls from debt collectors at home and work, and NSF fees that your bank will charge you when they attempt to debit your account. You should be armed with settlement offers when you contact the companies if you want to see positive results. It probably won't work with all of them but some companies may surprise you and try to work with you.

Steelers:

I know what you meant, I was just throwing it out there for more info to NJ residents.

You will get harassing phone calls. You need to get control back and pay your basic necessities. Get your complaints in with the AG's office, the bottom line is that none of the companies you listed are licensed to loan in NJ, figure out what you have paid to date by reviewing your bank statements dating back to July. One person who can help you emensely is Kyside38, pm her she can give you alot of good contact info. on these companies. She will tell you also FILE THOSE COMPLAINTS WITH YOUR AG.

wow. u have no idea how grateful i am for all this info. i can handle the phone calls -- im used to them. thank u again so much for all of the information. i'll def contact kyside38. its a real relief to know that there is help for me. i really thought it was all over.

No it isn't all over. Close that account and get control back and pay your utilities and rent. If you haven't paid back these companies the principal and legal interest rate for your state work an arrangment out that suits YOUR terms and DO NOT give them any of your new acct. info. It will get better.

thank u so much. it is such a relief to know that i have options. i cant say thank u enuf!

Also, when dealing with them for payment arrangements, demand that they give you a physical mailing address b/c alot of these companies will tell you moneygram or western union. Also, to be on the safe side so they won't have your new banking info, mail in money orders and not personal checks. Please keep the money order receipt also.

thanks for the tip! i cant wait to get my life back.

meadow, First off Welcome to the Forum. Payday loans are PROHIBITED in NJ. THe Attorney General is your only choice. You can not negotiate with these companies. They thrive on the interest. WV Attorney General has already got back thousands of dollars in refunds for consumers from eighteen companies. Lawsuit has been filed for fourteen more. Thats results. No one know your state laws better than your state government officials. File those complaints. Call their office and ask to speak to someone in consumer and antitrust division. They will help. Best Wishes KYSIDE38

I have 5 delinquent payday loans, all on the internet, I have sent via email that they DO NOT CALL my work phone # and I have attached my state laws in every email on payday lending laws for my state, as well as requesting that they send me via email or u.s postal service breakdown of their charges and fees and I have not received anything from any of them,, I have advised in EVERY email they "cease and desist" any contact other then my home phone # and believe it or not,they do not call me at work,, and if they have called the home phone # they have not left ANY messages. I don't know why they have not harrassed me and I do not want to commit to paying anything until I know exactly what I have paid and what they are seeking- any advice? I have not had any responses from any of them, I have advised a 30 day request for contact from each of them, a 10 day contact and then my final emails sent about 10 days ago requesting response from each of them within 3 days to submit to me written proof to validate the debt with NOTHING, no response, no voice mail messages, no calls to me at work,,,, NOTHING! I have referenced contacting the Attorney General for my state (IL) if they did not contact me with written proof. I don't know what else to do,,, I want written documentation and I dont have anything supporting their charges,,, any advise on how to proceed?

cindycup, my suggestion is that you are aware of your state laws on payday loans and you have your bank statements to calculate the payments done on your accounts. Get started and calculate the total amount and see if there is any further outstanding balance. You will come to know the status of the debts and sense the lender's next moves.

meadow 1504-----nothing is ever that bleak that it can't be changed, resolved or refigured especially when it comes to finances. I am so glad that you were able to find help and answers through this forum. That is change right there---good luck

thanks for all of the help! i already feel better! i will be contacting the AG immediately and closing my account tomorrow. I really did think i was done for. I am so grateful that i found you guys!

meadow---Are you talking about closing your bank account? When I first went into a debt consolidation program here is what I did---It was on a Monday and I knew that the internet PDLs were going to withdraw funds on Friday. I enrolled in the debt consolidation company, gave them the names/addresses of my PDLs and then went to the bank and closed my account. When you close your account, just make sure any outstanding checks to other people have cleared. Yes, I did have phone calls from the PDLs, but that has pretty much stopped.

Meadow thanks so much for your kind words. We try to give the best advice we can. We have been called a lot of names so it sure is nice to get someone who appreciates us. LOL KYSIDE38

well, as far as im concerned you are my heroes. I closed the account yesterday, filed the complaint with the AG's office today and my phone rang about 12 times today, but no messages were left. So we will see. But i really dont know what i would have done if i wouldnt have found this website. I really cant thank you enough.

Way to go Meadow!! It sure takes a weight off,huh? It feel really good when you take back the power of your finances. Keep up the Work!!..KAren :D

I am so VERY glad for you. I know when I finally did it, I felt GIDDY with relief and I started doing the "happy dance".

Does anyone know what the laws are for Illinois?

Vicki--

Check out this website paydayloaninfo.org. Click on the state info and then scroll down and click on your state.