Can I negotiate with payday loans

Hi Stephani. Welcome to the forums.

First, the good news is you can do this yourself.

Second, I can answer some of your questions now but I also need some more information.


Ameriloan is an illegal tribal lender. Anything you've paid counts toward your principal balance, which is all you have to pay back. Ask for a refund if you've overpaid.

TLCfast cash - I do not see a license for this lender. According to their website, they only accept applicants via referral. Do you remember who you actually applied with when you were referred to TLC? They appear to be an illegal lender.

Ace fast cash - do you mean AceCashExpress?

Advance America - They're a licensed legal lender and they will give you an extended payment plan. Generally they break your current balance into 4 equal payments due over you next 4 pay dates. No further interest or fees will be added.

Check into cash - same as AA.
Cash 1 - same as AA.

Thanks OhioGal1,
My original loan principal borrowed with ameriloan was $550 taken out on 6/26/2012. I have since paid them a total of $875.
TLCfastcash.com was probably a website I was directed to when applying for a loan online. My initial loan was for 200, and I am ashamed to say I have made a total of $1501 in rollover fees, never applied to the low principle.
How do I approach these lenders? I am not very good with confrontation and afraid i might get flustered in my response. Should I write them letters to dispute their legality and that my loans should be paid in full with the money I have already paid to them? As the same for AdvanceAmerica, Cash1, and check into cash.
Thanks again,
Stephani

For the illegal lenders, there is step by step info in my signature link.

For those that are legal, try first contacting the store to see if they will set you up on an extended payment plan. If you can't work something out with the store, try emailing the corporate offices. You can find email addresses on their websites usually.

Hi there,
I also live in California and have dealt with your three storefronts--Advance America, Cash 1 and Check into Cash.
They will probably give you an EPP, but will hound you to death until it's paid off. After someone told me at Cash 1 that they were going to call me daily until I paid off, I turned the tables on them and called THEM daily. Freaked em out....

Can I ask how they set up you payment for your payment plans, and was it easy to ask for?

The standard is that they take your current balance and divide it into 4 equal payments that would be due over your next 4 pay dates.

I have contemplating working with Consumer Credit Counseling service of San Francisco. In email correspondence a rep told me that I was still responsible for these payday loans under contract agreements. The rep states:
"Just because the payday loans that you acquired are not licensed in California, it does not mean that you are not responsible over the terms that you agreed upon when you acquired the loans. *Most online payday loan companies are based in states with minimal regulations on payday loans, hence the reason why they yield extremely high interest rates and fees. *You are fully responsible over the debt and the terms of the debt as stated in the agreement that was arranged in order for you to acquire the loan"

Is this rep valid in their statements or is it that cccsf is in the business of making money of the debt they help you settle so wants me to keep the loan?

Tribal, offshore and unlicensed lenders only get back the principal.

No, the agent is NOT correct.

I was reading this thread and couldnt help but see "payday loan" ads on the bottom of the screen. How does this happen ?

Hi Stephanie,
I also called CCC when I was dealing with PDL's. (I also live in the Bay Area btw) and was told they didn't even deal with PDL's, so it seems they are still no help.
I would call the CA Dept of Corporations to file a complaint to get the most help. Trust me, they are VERY familiar with Ameriloan. (I filed a complaint as well).

I plan to send ameriloan the email requesting my account be paid in full and a refund of overpayment. The account I have with TLCfastcash.com has been over payed by $1300. Is it feasible for them to accept that request to repay me that amount? Is it a more reasonable request to have them mark my account as paid in full?

Ask for both.

Update on Ameriloan:
I sent them an email via their website by loggin in to "my account".
This is the screen I got:
LOAN STATUS

*
Unavailable
Welcome STEPHANI *****
Application Number:
*************
*
We are sorry that we are unable to access your account at this time. If you need assistance, please contact us at [email]compliancedepartment@ameriloan.com[/email]

I have never seen this screen before, only after I sent the email. Im not sure what to make of it.

It's typical. They lock you out of your account. Next, they'll try to hit your bank account for the full amount that they claim you owe.

As long as you've followed the steps, you have nothing to worry about.

Update from tlcfastcash

"Please refer to the copy of your loan agreement. Under the terms of you agreement you consented to make payments via ACH until the loan was satisfied in full. We will continue to make all reasonable attempts to Make contact with you, or your references if necessary, and to attempt collection on all funds due and payable to enable the loan agreement to be satisfied, as per the original provisions. Thank you, customer service."

Should I ask them to provide me a license number as proof of ability to operate in California?

You can go to the California Dept of Corporations website. Click CA.gov and follow the link for the Dept of Corporations. There is a place there to check if financial institutions are licensed in CA. If this lender is not there, it does not have a license and is illegal.

I have made extended payment plans with AA and Ace with 4 equal payments. I'm having a difficult time with check into cash.
I called the day before my loan was due and asked for a payment plan. I was told that I would have to come into the branch that same day to make any arrangements, but I was in class and told them I could not make it into the branch until the next day(my due date). I was told that if I came in my due date my only option would be to pay half the loan ($150) and the remaining on my next payday, if not I would be sent to collections. I was also told that i had to call them every other day to keep them updated or they would continue to call me, my work, and references to collect on the loan.
I went into AA on my due date and was easily offered the EPP, without even having to make a payment that day. Even though I was told that it was noted on my account that I would call them, I still received a call on my due date to tell me my loan was due. I again spoke to the manager to see I I could set up a payment plan similar to the one offered to me from AA. I was told that I Could only make arrangements the day before my due date. I asked why I was not offered, or even mentioned, the EPP, and the manager told me she didn't mention it because I already said I could not make it back on that day. So I'm left with waiting until I have the full amount, maybe being sent to collections, and have to call the branch every other day in order to avoid them calling me, my work, or references.