Help Please, I've got a mess

Are you in KY? If so then you can definetly handle this yourself because internet pdl are illegal in KY. So all you would owe is the principal on the pdl- you don't need to worry about settling.

Now the thing to remember is PayDayOne and ThinkCash operate as installment loans in KY not as pdl so different rules apply. They will have to be paid in full.

I think all of the others are going to be illegal.

I was told by the Department of Financial institutions that technically I don't even have to pay them back? Not sure how I feel about that.
Tell me more about PayDayOne and ThinkCash and paying them in full because they are installment loans? Think Cash I would agree is an installment loan because it's the same amount due each 2 week period. Does this mean that I have to continue paying by 2 week installment each time? What about additional fees due to closing my bank account, etc?
Are you sure that PayDayOne is installment loan? You can roll this loan over so many times and then you have to pay so much towards the principle plus finance charges?
Thanks for your advise.

Think Cash is a legal installment loan so they will have to be repaid in full on thier terms, I have not had to deal with them personally but from what I understand thier interest is pretty nasty and I don't think they settle for less.

There have been several threads regarding PayDayOne in KY. Someone posted that they had received a letter from either the KY AG or DFI letting them know that PayDayOne was operating as a legal installment loan in KY. The terms of the pdl and installment loans are almost identical-it just seems to be a loophole that they are finding to get around the laws. Someone else posted about PayDayOne in KY and got out thier contract to read and did find a mention one time towards the end of the contract I think it was that it was actually an installment loan. So you may want to read thru the fine print in your contract. So far I have not seen any cases of PayDayOne loaning illegally.

Actually I am almost positive that PayDayOne and Think Cash are the same company.

In the State of KY the department of finance person indicated that technically, I'm not responsbile for replay the pdls at all because they were internet. Now I'm finding out there are a couple that will need to be repaid and with their interest which is better than were I started, so I'll deal with that.

With the exception of Pay Day One and Think Cash, does anyone know the answer to this question?

Techinically, you may be right that since they are illegal you may not have to pay them back. However, you did borrow the money and just from a moral standpoint I urge you to pay back the amount you borrowed only. If you can't pay it back right away, then at least pay them back when you can. I know sometimes we want to stick it to these companies but ultimately we are responsible for our own actions. I took out 8 payday loans and I was fortunate enough to have a friend loan me 5000$ to pay them all off. Now I make monthly payments to her.

i agree as a moral standpoint to pay back what you borrowed, however i would not borrow from someone else to do this, it is just my opinion, though :)
i would ask for a physical address to send money orders to. i only make payments to physical addresses via money orders from the united state's post office (the money orders there are easier to track from what i have heard). i do not make payments unless there is an address to send it to though a lot of people recommend pre-paid credit cards.
you can pay back on your terms, on your time.

borrow 200.00 dollors from big limited 11 months ago .tried to contact them to pay them off ,they will not answer the phone, they are debit 80.00 a month .,what should i do?

Half of the loans you did not even make 1 payment on.
I hope you do consider paying what you borrowed. They gave you the money, you used the money........

I defaulted on a loan from PLC for 800.00 these people called all of my references and told all of them that i had defaulted on the loan and that I had better contact them asap.

They even when as far as to show up at my job and start threating me in front of my worker. Can they be sued for breaking the privacy law. I have already sent them a cease order not to call my job and they are still doing that 3x a day.
Please help

crazy, who is PLC? How much did you pay down on it? perhaps you should start a new thread so you can get more attention? i am not familiar with IL laws.

Is PLC payday loan center??

How is it from a moral standpoint people only feel like they have to pay back what they borrowed. Regardless is you feel this interest is unreasonable or something like that you still chose to take a loan out whether you read the fine print or not. To borrow from a company and then not pay the interest you agreed to is effectively stealing from the people who work for those companies when they get fired because the company can't make it's bottom line in my opinion.

You must work for a lender???????????????

Why say that they must work for a lender????
Some people have different views than you do. Some people believe that they should pay what they borrowed.

i did say i believe they paid back from a moral standpoint because morally it is right not to steal. and morally, they are not to charge more interest than they are legally allowed to.