Debtconsolidationcare.com - the USA consumer forum

Internet Pay Day Loans

Date: Wed, 09/12/2012 - 17:26

Submitted by Research
on Wed, 09/12/2012 - 17:26

Posts: 3 Credits: [Donate]

Total Replies: 7


I have several payday loans that I took out and now cannot pay back. With the bi- monthly payments I am never paying the principal and cannot pay them all as well as my rent, utilities, etc. After they ACH my payments this week I need to close my bank account or have the bank return/revoke their ACH. What are the consequences I face? Will they contact my employer? I would risk being fired and/or great embarrassment with my boss and associates. I want to pay them back, but need the interest to stop so that I can pay them the principal over the next 6 months or so. HELP!! Also, will this be reported on my credit? A couple were tribal. (Discount Advances, Everest, Zip19, Lakota Cash, Ameriloan & Sandpoint)


Please tell us what state you are in. How much was borrowed from each lender and the amount paid back so far. The illegal loans you are only morally responsible for paying the principal only, no interest or fees and you very well may be due a refund. In the forum section, there is a link to how to deal with the lenders. Follow every step and close your bank account and open a new one so that no more money can be debited from it.


lrhall41

Submitted by bingonut on Wed, 09/12/2012 - 17:37

( Posts: 1428 | Credits: )


I live in California. All of the loans were taken out via Internet.

1) Discount Advances borrowed $1,300.00 paid $767.00
2) Zip19, borrowed $1,300.00 many times. Always paid back $1,560.00. This loan paid zero back so far.
3) Everest, borrowed $700, paid $840.00
4) Lakota Cash, borrowed $ 500.00, paid $450.00
5) Sandpoint, borrowed $300, paid $180.00
6) Ameriloan, borrowed $ 400, paid $270.00

I have no problem paying back the money in full, but the fees every payday are taking my entire check. I can repay over next 6 months. Suggestions? HELP!


lrhall41

Submitted by Research on Wed, 09/12/2012 - 17:49

( Posts: 3 | Credits: )


The first thing you shiuld do is go into your bank and open a new account that is not linked with the old account(the one the lenders have) let your bank know that there have been unauthorised ach debits and/or disputed charges on the old account and that you would like that account to have a hard debit block placed on it. the account is closed as a result.you will need to move your funds to the new account. next, do some research and find a payday loan debt consolidation company asap. do not take your time on this as you will want to get the ball rolling so they can negotiate with your lenders before they start harassing you when they cannot take payments from you. some popular ones are payday loan assistance and destination debt solutions. Ihad a positive exoerience with the latter one. good luck.


lrhall41

Submitted by on Wed, 09/12/2012 - 18:58

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