Help! I'm in PDL hell!

these are all new loans...meaning I have paid them off and started over several times.
the outstanding finance fees are...

PayDayMax $650.00 (Internet) + interest $193.65 = 843.65
Cash Supply $1000 (Internet) + interest $250.00 = $1250
my cash now $540 (Internet) + interest $70.38 = $610.38

Interent loans are illegal in nebraska unless they have a license to operate in Nebraska and looking at those I can tell you for sure that my cash now is not licensed to do business in Nebraska as they are physically located in vancouver bc. Others will be along to advise you further.

so what does one do when dealing with an illegal internet loan?

ans how ironic is it that there are paydayloan adverts on this site?

Legal Status: Legal

Citation:
Neb. Stat. Ann. ???? 45-901

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15 per $100 or pro rata for any part thereof on amount of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance, consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action:

Where to Complain, Get Information:
Regulator: Nebraska Department of Banking & Finance
Address: Financial Institutions, 1230 'O' Street, Suite 400 P.O. Box 95006 Lincoln NE 68509
Phone: (402) 471-2171
Fax:
Regulatory Contact: Karen Reynolds,, Review Examiner

thanks- now I am not in trouble with any of these guys yet, but am finding it impossible to pay them back without writing another or extending. At least one of them is illegal, what do I do with that and how do I find out if the others are legal?

I checked on the licensee website and none of the companies you have listed were there, so it seems like all three are lending to you illegally.

Are the totals at the end the amount you have paid in total?

You say you have started over, well how much have you paid back for this time?

The totals at the end are what I owe completely. The first number is the principal. They are all within the guidelines of their contracts right now. So, I have paid them back in full time and time again, only to have to take a new loan.

If they are lending illegally then you are obligated to pay back what you borrowed, minus any fees.

How many times did you roll over?

I would also contact Nebraska Department of Banking & Finance if I were you. This is an ongoing cycle. Get out while you can

okay, I have rolled over so many times I would have to look it up. Do you have any idea as to how I approach the Neb Dept of B&F? How do I go about it? What kind of help will they give me?

Ok, first go through all your paperwork and when you call them just explain your situation, I would go online and submit a complaint and then let them contact you. Thats what I did anyway, The FTC, AG, and Dept of Finance here in DC have been extremely helpful to me, but that varies from state to state, I have seen some people say that they couldn't get any help. But it is up to you to do your part, go online and get to work. You will need dates, bank statements, loan docs, I mean you need EVERYTHING.....

gotcha. So, basically, get it all together and contact them saying I was looking for some advice on getting out of this cycle and found out that the loans are potentially illegal and was advised to contact them to see what my options are. How do old loans factor in? How was yours settled?

Just beware that some of these PDLs will get very sneaking in order to take all the money they can from you. Have you closed your bank account yet? I would do that first. Then contact the agencies. I would suggest you look at all the fees you've paid them even on the loans that you've had before and then write a letter to the PDL's explaining that you have found them to be illegally doing business with a Nebraska resident and that based on the fees that you've paid on your other loans with them that you've satisfied what you are required to pay them. Most of the PDLs that I've dealt with would rather work with you than the FTC and AG's office.

They are left me the heck alone, after hearing from the states AG office, except one

wow, okay. I will start working on it. My biggest fear is that they will call my work and cause me problems there. Is there any way to prevent that?

you can send a cease and desist, but there are no guarantee that they will abide by that. but its best to try.

In your letter, include this...

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan.

I inquired online with these guys last night and just got a call...she was quite pushy. I sent an email to the Neb office that you advised and will hopefully hear back shortly. I am very worried about closing my account. The loans aren't even due yet and I am afraid they are going to come after me...but closing the account is what everyone is advising. Next due date is Sept 30. What if I don't hear back from the the dept of B&F?

that last post is referring to Langhorne...she also told me it doesn't matter if they were illegal loans or not.

dwine, they ALL say that! its ipdl language! don't let them intimidate you.

but this was Langhorne! The place that is supposed to help you settle with the pdls! I just don't know what to do next.

do you have to pay for that service? all of your pdls were internet, right? i am confused as why you came here asking for help then went to langhorne? i thought you were going to do it yourself, i could be getting you confused

no you are correct, but before you started helping I had inquired with them. Yes, you have to pay for that service. I just don't know what to do anymore.

have you started to pay them? i wouldn't go that route, you have just added another bill on top of all this mess, thats just my opinion though.

have you sent them the letters yet? i am going to send you something you can send to the pdl companies, and you can tell langhorne nm

No, I have done nothiing with anyone...I wouldn't even give Langhorne my SS#...which she really pushed for.

great! Looking forward to your information!

I was told by my attorney General in the State of Maryland if they are not allowed to give loans in your state you do not have to pay them back and they can't threaten you and tell you they are picking you up if you don't pay, but I would call you state on this if they are threatening you.

you should pay back what you borrowed, if you take out a loan and have no intentions on paying it back then that is stealing.

Huh? No one has threatened me...I'm not even late on a payment to the PDL....is this supposed to be on someone else's thread???

(mine was the last guest comment) This is dwinelllnk...how did the subject of not paying back come up?

Okay, here is the response from the dept of B&F...someone help!!!!
Christine,

Unfortunately unless the internet lender has a physical location in Nebraska we
do not have clear jurisdiction over their activities.

I would suggest that you visit with your financial institution concerning a stop
payment if those companies are making automatic withdrawals out of your account.
This is authorized by Regulation E, 12 CFR 205.10. Also pursuant to 12 CFR
205.11, you can dispute any charges withdrawn in the last sixty days. An
institution may take 45 days to investigate, provided they provide provisional
credit (less up to $50). The consumer has a right to review the documentation
the bank relied upon in making the determination pursuant to 12 C.F.R.
205.11(d)(1).

You will also want to review any contractual documentation that applies to the
transactions you entered into and make an attempt to contact the company in
writing by a means that you can track delivery telling them to stop the
withdrawals.

I would also suggest that you file a copy of your complaint not only with the
Better Business Bureau but also with the Attorney General's office for the home
state for the company.

If you have further questions, please let me know.

I think they stated they had paid it back previously.

payday is tuesday... and I am talking with progressive debt relief about it...but man that is still a lot of interest to pay. I just don't know what to do! And they don't negotiate with them for settlement until you agree to pay it all? that's crappy - esp since I know I am not legally owing of them. I just don't know what to do.