pyday loan debt, its bad! please help!

C Ann, please calm down . You hav ecome to the right place, and we can help you. Please tellus what state you live in, how you have borrowed from, how much you owe each lender, and how much you have paid back to each. Please add fees and principle together to get one total paid for each lender. Also tell us if your loans are store front or internet

here are the lenders and what i owe:

World wide cash
$289

CashnetUSA
$490.62

BIG ltd
$280

ameriloan
$310

AIP
$723.95

all i borrowed of the internet, nothing has been paid back on these.... just a few have had the transaction fee paid to buy time....

C Ann
you have paid nothing? List the fees that you have paid. What state do you live in

texas, and i have been paying the processing fee each paycheck to keep the loans active because i cant afford to pay them in full.

so far each of the prior stated lenders have recieved their processing fee only each paycheck so that i can keep the loans active. for example:

world wide cash:
borrowed-$200
total amount due-$289
total due each paycheck to extend the loan is $89

You will find the Payday loan laws for Texas here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

This is a post that one of our most informed member had posted to someone else in texas. Please read it in case some of your loans are store front
,
Since you are in Texas, first you need to see who is operating as a CSO. It will say in your contract Credit Service Organization.

If any of them are CSO's, then they need to be registered with the Sec of State. That is it, no license is needed.

If they are operating as a pdl, then they would need a Texas license and to be following the laws of Texas.

i have no idea how much i have paid to each individually. the first loan i ever pulled was in june... i can find out from my bank by getting a statement....

all were on the internet.

C-please try to keep yourself calm. We have all been where you are at one time or another. The best way for us to help you is to get the information we can use. Now...Texas..ok..now if you could just list each one in the following format:
Name:
exact amount borrowed:
Amount paid back in fees or payments:

We can take a look and possibly come up with a plan for you. Please try not to take out any more loans, that will only put you farther behind.

ok... lets do one at a time... im sorry im so worried. i just have no money.... i dont know how to handle this type of thing. thank you for taking your time to help me!

You will have to go back to your bank statements and get all the detailed info regarding thier "fees'. These fees by the laws of yoyr state have to go to the principal. Rollovers are not permitted. Please help us to help you. The laws in your state call for criminal penalties if you close your account if fraud was committed. You must go to your bank and have them freeze you account and open a new one somewhere else. Get your employer to cut a live check for you. Pay your necessities first. Then deal with these on your terms. BIG is an illegal foreign lender who will threaten you with all kinds of crap that they can't do. You do not have to pay them anymore than the principal. All they can do is threaten you. Cash Net is a CSO and you will have to work with them. Relax and take control of your own money. Go by the laws of your state not their made up rules.

C ann I know you are upset, but please try to calm down. You are not alone with this , we are all here to help you. We have been where you are now, and in many cases we have been in even worse shape than you are. Please as we have requested , get your figures together. Frog has set down some excellent info, which you will need to follow

ok, so step by step... so right now i need to freeze my account not close it....correct? then open a new account, thenhave my employer write me checks insted of direct deposit...

well you can direct deposit into your new account, but do not ever give that account number out to anyone

ok, so my employer put a direct deposit to hit the overdrwn account tomorrow. if i freeze the account today, can i transfer those funds to the new account? or may i recieve those funds in hand? if so how?

I suppose if a direct deposit hits your overdawn account , some of those funds will go to pay your over draft. Ask them when you freeze the account how can you withdraw your money?Ask them about transfering/ I did think however that a frozen account will not allow debits or credits I.Dont see how your money will go in if its frozen. Speak to the bank before you do anything

i called my bank, i personally cant freeze my account.... what steps should i take now?

can you put a hard block on all ACH debits. Banks will usually do that

You will need to explain in detail to the bank what the problem is and how you need their help. Somehow they need to block the ach debits...if you can't stop your direct deposit in time now then you will probably lose some of the money to your overdrafts...but then you should be able to pull out the balance and close the account. Make sure when tey say close...they mean close..and that debits will not force it open again. Once you get controlof the situation at the bank we can walk you through the next steps. We will be here for you.