PDL help in SOUTH CAROLINA

Hey fellow South Carolina girl. I know first hand what your going thru as I was in the same position a year ago. Let me tell you there is light at the end of the tunnell. By Dec. of last year I was payday loan free and it felt great. You definaltely are doing the right thing by closing your bank account. Pay Day loans are legal in South Carolina, but I don't believe any of yours are legal. I'm still checking on that for you. What I would suggest is start emailing or writing letters to all of your pdl lenders offering some sort of a payment plan or reduced amount of money. Since you have not overpaid any of your loans you are still responsible for the amount borrowed. Forget about the interest they are not getting it!! Make sure you get a wage revocation letter. (I think thats what its called) to your employer. One of my pdl tried to garnish my wages and it was a real pain to stop. Make sure you get all your letters out right away so you can start negotiateing before the phone calls begin. I found if you communicate (email) with them they tend to not harrass you as much. Now this was my experience so someone else may have a better suggestion. If you have any questions please feel free to ask. Alot of this is trial and error.

Good Luck!!

Thanks for the response. Although each of those current loans were taken out in June, I have taken previous loans out from most of them and paid off the principal balances plus fees. If they are illegal, I should only have to pay the principal balance correct?

For mycashnow I have to date paid $1,595.78 just in fees

For GR Enterprises (signmyloan.net) I have paid to date $240 just in fees

For Zip19 (Northway) I have paid to date $49 just in fees

For Ameriloan I have paid to date $90 just in fees

For Eastside Lenders I have paid to date $90 just in fees

**I guess at this point I need to find out if these lenders are illegal. If that is the case, they will have to apply my fees paid toward the principal balance currently due?

How do I find out if they are legal or not?

Thanks again!!

I hope you will get information from the South Carolina State Board of Financial Institutions to know whether or not these pdl companies are licensed in your state. If they are illegal, then you are required to pay them only the principal amount. You can ask them for the refund if you have paid them more than the amount borrowed.

Wish you a good luck!!!

I went to the website for the SC Board of Financial Institutions. I found the following link...

http://www.scstatehouse.gov/code/t34c039.htm

Perhaps someone can help me understand this? The max amount is $550 from what I read and I can only be charged 15% of the principal amount? I believe it also states that a lender cannot lend if the borrower already has a payday loan pending? What happens if a lender violates these rules? For instance mycashnow gave me a loan for $750.

Still looking for a list to check out the legality of the lenders I have...

Thanks for the responses!!