IL and internet payday loans

To follow up, here are the amounts owed on each one:

Zip 19 --$1000 loan every two weeks, pay $1198 only to reloan the $1000 the same day. They will not agree to postpone payment.

Americash Loans--$1800 loan storefront, pay $233.20 every two weeks

IL Lending--$1500 loan storefront, pay $152 every two weeks

Cash Net USA--$750 online--new loan, have not paid back yet

We offer cash--$400 online--have paid $360 from direct debit to date, they say I owe $520 still!

One click cash--$350 online--have paid $210 from direct debit to date, they say I still owe $455.

Writing all of these down is so embarassing--I can't imagine it has come to this. When I took the first one, I never imagined I would take another, but as you know, it just spiraled out of control and I had to take another one to pay the first one, etc.

I have talked to all of the lenders and all have agreed not to debit me for this next payday, but they said they will have to double debit me the next time in most cases). The two IL storefront ones seem like they will be helpful, so should I try to work out a repayment plan with them? And is it going to be debited or do I send them a payment or how will that work?

I'm drowning in this and have gotten behind 15 days on my mortgage payment. I can't do that!! Thanks so much in advance, I really appreciate anyone's advice on here.

I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it!

All of your online lenders are not licensed to lend to IL residents. CLICK HERE to find out how to deal with illegal lenders. Your store front lenders are licensed and legal, take care of those first. You could request an EPP from them, click the link below and refer to number 11 to understand how the EPP works. Lenders who are a member of the CFSA are the ones who offer an EPP, although, you will need to ask for it as they will not tell you about it.
http://www.cfsa.net/industry_best_practices.html

Click the link below to find out if your store front lenders are members of the CFSA.
http://www.cfsa.net/MemberList.aspx

Americash and IL Lending Corp are definitely legal. Make arrangements with them in the least.

The online ones I can't say with 100% certainty that they are illegal, but that's most likely the case. You can check the IL licensee database at www.ildfpr.com to see if any of them are listed ( I don't think they are.) If they're not licensed, then they're illegal. Those ones, close your bank account and go from there. As a matter of good faith, I'd at least pay back the principal. But they are illegal and can't sue you, so do whatever you want with them.

As soon as they think you're going to stop paying, they'll try to debit your account for the full amount. So go close your bank account first before you give them the bad news.

Thank you everyone for your replies. I called Americash today and the store manager wasn't able to help so she referred me to the corporate office. I'll let you know what they say about the EPP (thank you for sending the link).

My fear about the illegal lenders is that they will contact my place of employment. I have a visible position within my company and would be horrified if anyone found out about this.

I appreciate your advice so much. I can't believe how many people are going through similar situations. I had no idea.

I will close my bank account this week and keep you posted as to the illegal lenders. Thank you all so much.

The problem with the illegal ones is that - yes, they will try to harass and intimidate you. They will probably try to call your supervisor, and I've heard of them sending faxes for the whole office to see. That is illegal, but their inherent business itself is illegal - they don't care. Because they are often in different countries or at least a different state using fake addresses, it is hard for individual state's AG offices to go after them.

You might sit down with your supervisor and give them a heads up. Let them know you took out a few online loans, and subsequently found out their business practices are illegal - so you closed your checking account and are working with the attorney general, but in the meantime the place may try to harass you at work. You're employer will probably be understanding, and if they know the situation beforehand they may be able to help you by telling the PDLs to stop calling, or keeping phone logs, etc.

Awesome advice DC and Shazz!