I cant continue to pay 400 a week in interest

Hi Tanros...who are your loans with and what state do you live in? with more information we can help you. Also...if you want to, search your payday loan company in the search box above and you'll be amazed at the amount of people who have situations similar to yours. you'll learn a lot and feel better knowing you're not alone. welcome to the forums :)

I'm in the same boat tan. I'm just going to close my bank account and see what kind of hell breaks loose. I really have no other choice. I can't afford to even eat decent anymore. EVERY single dime of my paycheck goes to PDL's. I'm just hoping I don't go to jail for closing my bank accounts. These people on here say that's not possible, but i'm not so sure about that. I tend to disagree, but either way, i must stop paying these things right now!!

tanros, welcome! :D If you can post the information requested above, we can help you here. Of course you can't pay $400 per week in interest. That's crazy! What we can do here is we can find out what pdls you have, post your state pdl law, see if these pdls are even licensed/legal, see if you've overpaid, etc. We can help you here. We look at the laws, we look at the licensee databases, etc. We do research on them all so you can be assured it's not "made up" information. It is all information from state websites, okay? And, FormulaTA, did anyone post your state law so that you can see if criminal action is prohibited in your state? We can look at your state pdl law and see if criminal action is prohibited. If it is indeed prohibited, then it would be okay to close your account. Has anyone helped you with that?

I live in Ohio, and state law says criminal action is "not specified" I think.

FormulaTA, you're correct. It does say "unspecified", which I so hate. God, just "specify" already! However, I do know of a member who also resides in Ohio and did close the bank account. Nothing horrible happened. If the account was closed due to fraudulent activity, I do believe you are safe. Don't think you're going to go to jail. There are many, many Ohio residents that are members here. And they're all still here posting, so none of them were arrested. I hope this at least makes you feel a little better. You are not alone. Believe me, there are tons of Ohio residents on here that have closed their accounts.

I second Cannr's comment....we just went through this with another Ohio member and all is well. The fact is that that clause governs checks which are different from these ACH drafts tht they PDL's are doing.

Formula-Do you have a thread going with all of your pdl's etc? Also, if you register, you get debtcc points every time you post. They sure add up $...

What if there were no fraudulent charges occuring. I'm pretty sure that all my PDL's are legal and liscensed.

Formula, who are your pdls? We can check to see if they are indeed licensed/legal.

Hey it's FormulaTA. I registered. I only have 3 payday loans out right now. But, thats 3 too many. The one thats killing me the most is really not techically (sp..) a PDL I guess. I have a dreaded installment loan from Check N Go for $1,400.00. I pay a whopping $600.00 a month for 4 months. I'm about halfway done with this loan.

Yeah, that Check n Go is an installment loan. They are real killers.

i need help, i just found out my husband has taken out 8 different payday loans and he owes $5500 total. I just found out and am tryign to find out his options. he has been paying out 600/every 2 weeks--total $1200/month and getting no where. i have told him to quit paying and close his accts out and just see what happens. will they come after him,can the bank come after him? he has some chacks out there can he cancel those checks.please any advice from anyone? we live in ohio.

Please post who his loans are with, how much they were for and how much he has already paid (including interest payments). Then we can better help you to figure out if they are legal or not.

Are these internet or store front?

You can put a stop payment on the checks or if they are internet you can revoke the ACH withdrawls.