Multiple Payday Loans
Date: Wed, 09/14/2011 - 21:07
So, I would like some help regarding the laws in my state and the steps to take to pay principle of these illegal loans only. I am really not interested in closing my checking account as I have so much coming in and out. I will handle the fees as they come in, but is there a way to still fight it to pay principle only while continuing to pay the finance charges to these companies?
My details are -
I live in Oregon, so I know there are harsh laws on the types of loans we can have.
I am not against all of the companies, as again I live in Oregon and legit PDL's do not cost us that much.
My loans are -
CashNetUsa - $300 31 day loan - $40 interest = no problem...legit I am assuming.
Star Cash - $200 loan $60 finance charge every 2 weeks...paid $60 probably 4 times now.
OneClickCash - $300 loan...$90 finance charge I believe every 2 weeks...loan hasn't come due yet.
Sure Advance - $300 loan $66 finance charge every 2 weeks...hasn't come due yet.
Also - are there laws against installment loan comapnies for Oregon residents...such as CashCall or ThinkCash(PlainGreen Loans)? I have paid CashCall a ton of $ for a loan and would like to know if I am legally obligated to continue paying it.
Also...for those that have been in my shoes, what would you do? Struggle to pay, debt consolidate or continue to find a larger lender to combine it all into one payment? And if there is a reputable lender to combine them all into, what is the name of the company as I can't seem to find any.
Lending of payday loan is legal in the state of Oregon. You shou
Lending of payday loan is legal in the state of Oregon. You should contact with the Oregon Department of Consumer & Business Services in order to know whether or not pdl companies are licensed in your state. You can get the contact detail from the following link:
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
If they are not licensed, then you can get rid of the debts by paying them only the principal amount. If you have paid them more than the principal, then ask them for the refund. You can ask your bank manager to put a hard debit check on your bank account so that they can???t debit money from your account in future. If you find that the lenders are licensed, then you will be accountable for both the principal and interest. You can enroll in a payday loan debt consolidation program to replace your multiple bills into a single monthly payment. You can find out a reputable debt relief company which will help you to consolidate your debts. The following link may help you in this regard:
http://www.debtconsolidationcare.com/companies/usa-listing
here is your info
despite sandra's post the only legal loan is CASHNET.that's it.i need more exact numbers on how much was debited by star as if they got four 60.00 debits then you overpaid that one.you need to go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of the paydayloan help forum.follow it and don't skip steps.contact cashnet and make arrangements to pay that in another way.the others like one click you can pay how,and when you can.just know we do advocate paying back the principle as that is all you owe on any illegal loan.btw CASHCALL is no longer legal in a ny state,but california,so them,or anybody connected with them will not be legal either.go to the sticky,and follow it.
Ok, so after checking my bank records...I have paid Star Cash $1
Ok, so after checking my bank records...I have paid Star Cash $120 and another $60 will be taken out tomorrow on a $200 loan. So I should only owe them $20.
Sure Advance I haven't paid anything yet, but my first loan with them back in June I overpaid them $205.71...can I include that as part of the principle payment for this new loan, or is it too late?
So when I send these letters off, does it really stop them from charging me interest, or is there something else I need to do?
well
alot of others have done that being they lent illegaly so yes count the 204.71 as part of your current loan.