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Breaking free from the tribes!!

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Good morning, everyone! Thanks in advance for reading this, and I appreciate any direction anyone can give me.

I have spent the past 14 hours reading everything I can on this site that's related to my situation, and I'm shocked (and heartbroken) to see that many of these posts could be about me. I'm not going to bother with using a fake name, or whatever, because, at this point, I'm just desperate for some help.

First off, a brief rundown on my situation:

I live in Louisiana. (Per the suggestions of replies in this forum, I tried to figure out if my loaning agencies are legal in LA, and I'm just a bit lost navigating the state's financial website)

I have two online loans:


  • Spotloan - Principle:$800, EOW payment: $142.83, Total paid so far: $856.98

  • PlainGreen- Principle:$1400, first/fifteenth payment: $201.64, Total paid so far: $1006.70



I have two payday loans:

  • ACE - $300 (I've been renewing the loan for 4 pay cycles for $345)

  • SpeedyCash - $350 (I've been renewing the loan for 4 pay cycles for $405)



I can't get out from under the payday loans until I'm able to pay off the two online loans, and I feel like I'm trapped. I understand that I'm the idiot who opened these loans, and I've been able to pay them off before with no issue, but anyway...

I've sort of devised a "Break-Free-From-The-Tribes" plan from reading the posts I've seen on here. A lot of it is under the assumption that the two online loans are not legal in Louisiana (is that right?), and that my bank will work with me when I submit my request to block the ACH's.

First, email and send by Certified Mail the form letter that I've seen floating around that says that these loans are illegal, that I've paid "XXX" amount of money toward the principle, and, in the case of spotloan, I'm not paying anymore, and, in the case of plaingreen, i'll pay off the principle in three payments of $100.00 and one of whatever is left. I'll also make sure it includes the ACH cancellation wording.

Also, I've had previous loans in 2018 with both Spotloan and PGL, and those details are:
Spotloan principle: $600, total paid: $1135.25, total overage: $535.25
PGL principle: $900, total paid: $1732.31, total overage: $832.31

Would it benefit me to also include in my letters how much I've paid to both companies in the past, and ask for a refund, as a way to maybe give me a little more ammunition in this? I've seen that in other posts, but I haven't seen anyone post that it was actually ever refunded back to them.

Second, take copy of letters to my bank and make sure they cancel the ACH transactions. They aren't due for a few days, so I should be ok. I called PlainGreen last week and extended my 1/31 payment to 2/7, so I'm good there, too. I hope soooo much that Regions will work with me and not charge me too much when/if the transactions hit my account.

NOW... what do I do with the Payday Loans? I think they are legal in Louisiana, so I can't do anything about that, and the only thing I see on their sites is to refinance, which is really going to cost me more, cashflow-wise, than it will to just keep refinancing them. Can anyone give me direction on what to do with those?

I'm tailoring my letters for the two online loans as we speak, because I want to get them emailed/mailed and copies taken by me to the bank today.

This forum/site has saved my life. I can't say thank you enough for all of your help.




Spotloan and PlainGreen are not legal companies. You just need to pay the principal amount. If you have already paid it, then no need to pay extra money.
Since speedycash is legal, then you need to repay the principal amount with the interest.

And did you mean ACE express? If yes, then it's a legal company.

But if you are talking abouy ACE services, then it is not.

Sub: #1 posted on Fri, 02/01/2019 - 05:37

sanderspatricia29 sanderspatricia29

(Posts: 787 | Credits: )

I called ACE and SpeedyCash, and they both were very friendly and let me set up an extended payment plan (4 payments of 1/4 the original amount each). My bank was amazing at working with me and helped me cancel the ACH's for the two other loans.
I am so happy that I'll be out from under the payday loans in two months.
I am scared to hear what PGL and Spotloan are going to say, but they haven't replied to my emails yet. I sent them the letters certified yesterday, so I guess I'll hear something soon.
This forum as a GODSEND. I never would have thought to send the letters or set up the extensions before coming here.

Sub: #2 posted on Fri, 02/01/2019 - 14:52

marissa carbine marissa carbine

(Posts: 2 | Credits: )

Marissa, dont forget to post the results of your dealings with spotloan and plain green , this will be helpful to others. Personally i have a issue with a group called Miinan funds who present themselves online as ladder credit. there are members on here who have dealt with this business but they do not share the (end) results. For example; where they successful with only paying back the principle or were they forced to pay principle plus interest because they signed a contract agreeing to this? So please let us know if you have a break thru.

Sub: #3 posted on Sun, 02/03/2019 - 20:14

mouse mouse

(Posts: 3 | Credits: )

I have 5 payday loans and none of them are in FloridI am on as and I am disabled and I’m paying out almost my whole check ! Could someone give me some info on how I can get these loans done without paying all this interest !

Sub: #4 posted on Wed, 02/13/2019 - 07:20

Unregistered


ACE and Speedy Cash are nice companies. The Extended Payment Plan is a good option for you. Just don't default on it. Otherwise, the whole payment plan will be scrapped. Understood.

It's tough to deal with PGL. They are notorious. You should ask them to give you a refund for the previous loan.

Don't expect a reply for another week.

Sub: #5 posted on Thu, 02/14/2019 - 00:27

ditchdebt ditchdebt

(Posts: 678 | Credits: )

Tell us the name of the payday loan companies. We need to check if the lenders are legal. Okay. As of now, revoke the ACH authorization so that lenders can't pull money from your checking account.

Sub: #6 posted on Thu, 02/14/2019 - 03:43

David Martin David Martin

(Posts: 121 | Credits: )

Are they legal in your state? If no, then you just need to repay the principal amount. But if they legal, then you have to repay the principal amount with the interest.

Sub: #7 posted on Fri, 02/15/2019 - 05:08

sanderspatricia29 sanderspatricia29

(Posts: 787 | Credits: )

Are they legal in your state? If no, then you just need to repay the principal amount. But if they legal, then you have to repay the principal amount with the interest.

Sub: #8 posted on Fri, 02/15/2019 - 05:08

sanderspatricia29 sanderspatricia29

(Posts: 787 | Credits: )

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