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Need Payday Loan Help

Date: Tue, 06/15/2010 - 00:47

Submitted by crawfordaudio
on Tue, 06/15/2010 - 00:47

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Total Replies: 8


Hi.
Like many other hardworking Americans, I've screwed myself into this payday loan trap. I have 7 (ughhh can't believe I let it get this bad) loans out. I have been in this cycle for close to a year now and am done with the fees and overwhelming weekly stress. Ive paid back many of these companies in full at some point or another but now I'm in a new cycle of loans and fees. I have setup new direct deposit with my employer to deposit into a completely different bank (credit union) since the Bank of America account is scheduled to have a bunch of ACH payday loan fees on the 18th.
[COLOR="Black"][/COLOR]
I live in Arizona...where payday loan laws have recently changed? Six of my loans were done online, and one was at a storefront.
1)First Bank of Delaware: $600/ amount paid is $94.34, 2)Integrity Advance: $600/ amount paid is 0. 3)Speedy Cash: $500/ amount paid is 0. 4)Elastic or Urban Trust Bank: $400/ amount paid $130. 5)Cashnet usa: $400/ amount paid is 0. 6)MyCashNow: $300/ amount paid $55.86. 7)Checkmate (storefront): $325/amount paid is 0

I appreciate any help and advice. Thank you and sorry for rambling.


The link below is the AZ licensee data base, if they aren't listed they aren't licensed. The thing you need to understand is this, some of your lenders are not payday lenders, and that means they are not required to follow the payday loan law.
http://azdfi.gov/Lists/Lists.htm
A link to your payday loan laws:
http://www.paydayloaninfo.org/stateinfo/AZ.asp

Integrity Advance and Mycashnow are NOT legal lenders, but the other lenders aren't payday lenders, they are small loan lenders I believe, excluding Checkmate.

More on Checkmate shortly.


lrhall41

Submitted by Shazzers on Tue, 06/15/2010 - 01:05

( Posts: 17344 | Credits: )


Checkmate is a member of the CFSA ( Community Financial Services Association of America), see the link below:
http://www.cfsa.net/MemberList.aspx
That means you are eligible for an EPP, click the link below to read about the EPP:
http://www.cfsa.net/public_education_campaign/guidelines/guidelines_extended_payment_plans.html
Cashnetusa also offers and EPP, but you have to ask for it, they won't offer it.


lrhall41

Submitted by Shazzers on Tue, 06/15/2010 - 01:08

( Posts: 17344 | Credits: )


Shazzers,
Thankyou so much for the info. I tried to do a hard ACH block with bank of america...but some issues came up and the branch mgr was not around...I will try tomorrow. Should my next step be Cease and Desist letters once I've located all the mailing and email addresses of my pdl's?

Thanks,

Mike


lrhall41

Submitted by crawfordaudio on Tue, 06/15/2010 - 01:50

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Don't send out the letters until your bank account is secured, an ACH block is only temporary with the illegal lenders, they will change their names and hit your account over and over and over. Your account will never be safe again, it's the same as giving your personal account information to a criminal, illegal lenders will stop at nothing to steal your money!


lrhall41

Submitted by Shazzers on Tue, 06/15/2010 - 03:24

( Posts: 17344 | Credits: )


Quote:

Originally Posted by Anonymous
I'm in the same situation. How do you get out of this mess?

Start a new topic and include the following information:
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.


lrhall41

Submitted by Shazzers on Wed, 06/16/2010 - 01:14

( Posts: 17344 | Credits: )