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buried in payday loans in tennessee

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I am single father of 2 boys with no help from the mother or anyone. I am buried in payday loans (my own fault I know) I need help/suggestions on how to get out from under them. My credit isn't good enough to get an unsecured loan I have tried
Please please help me

List out your loans, who you borrowed from, how much you borrowed and how much you have paid back. Chances are some if not all are illegal.

Sub: #1 posted on Sat, 06/15/2013 - 16:11

Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

how will or do I know if they are illegal, and once ive listed them and calculated what I have paid... then what

Sub: #2 posted on Sat, 06/15/2013 - 18:21


we can help you figure out which ones if any are illegal. if you list out what you borrowed and what you have paid you may have already paid some off.

Sub: #3 posted on Sat, 06/15/2013 - 19:42

Singlemom Singlemom

(Posts: 104 | Credits: )

Anonymous, most online payday lenders in Tn are illegal unless they are located within the state. Very VERY few outside of our state are legal. You need to send them a email revoking their rights to debit your account. They must stop and get to know the state law. I can send you a link to Tn state law regarding payday loans.

Sub: #4 posted on Sun, 06/16/2013 - 07:58

Tired of it Tired of it

(Posts: 3 | Credits: )

tired of it,

yes please send the link.... thank you

Sub: #5 posted on Sun, 06/16/2013 - 09:20


First - Please Register with the forums
Second - here are TN payday laws: easily found on these forums:

Tennessee Payday Loan Laws - State Legal Status

Lending of payday loan is legal in the State of Tennessee. - Online lenders can be licensed in any state. Lenders would need to follow the laws of the state they are licensed out of, not the laws of Tennessee, so there is no limit to the maximum loan or finance charge. Therefore easier to help you if you can list out your lenders - how much borrowed and how much paid to date.. a lot of individuals have already dealt with many of them....

Loan Specifications

Maximun Amount of Loan - $500

Term of Loan - Maximum 31 days

Maximum Rate of Finance and Fees- $30 or 15% of the check (whichever is lesser)

Finance Charge on $100 loan for a 14 day period - $17.65

APR for $100 loan for a 14 day period - 459%

Debt Limits

Maximum Number of outstanding loans permitted at a time - Three (Two per licensee)

Permissible number of Rollovers - None (cannot be renewed or consolidated otherwise)

Limits of Collection

Collection Fees - 1 NSF fee of $30; Costs of Court

Criminal Action - Prohibited

File your Complaint and get Information

Regulator - Tennessee Department of Financial Institutions - You can check here to see if licensed to lend in your state - but from above you can see that is not a requirement for TN...

Address - 511 Union Street, Suite 400 Nashville TN 37219

Phone - (615) 741-2236

ThirdYou will still want to follow the steps in this link to deal with - but we can offer suggestions on how to deal with if you can provide us with the information asked above.. th-illegallende...

Sub: #6 posted on Sun, 06/16/2013 - 15:32

HelpinAZ HelpinAZ
(Posts: 1873 | Credits: )

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