Payday loan help...
Date: Fri, 05/06/2011 - 09:08
I live in NJ and have 7 payday loans (insane, I know, I kick myself everyday for this). I have been paying off the fees and am now to the point that pretty much my whole paycheck is going to them and I can't pay anything else. After researching (much on your website) I am planning to go to my bank today and close my account (or at least do a hard debit block if they won't close it). The next step I know would be to send the ACH revocation letters. That is where I am stuck. I would rather do this on my own that go to a consolidation company. I don't know what is my next step because I did take out these loans and agree to their terms - I intend to pay them back, but the fees are ridiculous. I live in NJ and although they are illegal in NJ, I can't file a complaint unless they are charging more than $30 on $100, which no one is charging more initially, but each extension it sure adds up to more...not sure what to do. I have loans with the following:
Mycashnow
Plain Green
AMeriloan
VIP Loanshop
VIP Cash (Qloot)
Money2Advance
Kenwood Services
Any help or direction is much appreciated. Thanks!
Mycashnow
Plain Green
AMeriloan
VIP Loanshop
VIP Cash (Qloot)
Money2Advance
Kenwood Services
Any help or direction is much appreciated. Thanks!
Payday loans are prohibited in the state of N.J., so they can't
Payday loans are prohibited in the state of N.J., so they can't charge you ANY fees or interest, period. See the link below for your pdl laws:
paydayloaninfo.org/state-information/38
[URL=http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html]CLICK HERE[/URL] to find out how to deal with illegal lenders.
