First step?
Date: Tue, 08/04/2009 - 11:06
Hi - I am new to this website and forum, I found it as I was searching for 'payday loan help' because that is what I need.
I filled out an online free quote/application with PDL Assistance, and they called almost immediately, though I had begun reading some of the posts here and decided I wanted to see what advice and help you can offer. Although I can see are people with more outstanding pdl's than I have, I do feel overwhelmed and scared (not to mention stupid!). I can't seem to get out of this trap, and I recently had some legal and medical issues that are costing me a LOT of money, and I don't know where to turn.
I have two pdl's:
National Cash Lenders (internet) $700.00. I have reloaned with them multiple times, but against this one I have paid $560.00
Advance America: (storefront) - $750.00 - this one is actually called a 'Line of Credit' - I had cash advances with them previously but due to some changes in the payday loan regulations, after a certain number of payday loans within a six month period they switch you to a line of credit. I am not sure of all the differences, although the way the line of credit works is very confusing. If you don't come in on the due date (which has nothing to do with when you get paid) and pay the balance in full, you have to pay about $240.00 (I think that is what it is for my balance) and of that a small amount goes towards the principal. Again, it is really convoluted how it works, I don't completely understand the process which doesn't help me at all.
I think so far I have paid $475.00 on this balance. The other scary thing about them is that when it changed to a line of credit they required a copy of my car registration.
I live in Virginia.
I SO want to get these out of my life! Would welcome any suggestions at all. Would it be best for me to go through a company like PDL Assistance?
reply
that's weird that they required your auto registration.wouldn't that make it a title loan?either way you have to pay it off to get the registration back unfortunately.i don't see anything for national cash lenders.not sure if they are legal or not.most likely not.if that's the case then you owe 140.00.will look further though.i see you gave a copy and not the actual registration right?still they changed the terms and verbage of your loan,so you will have to try and pay it off asap.
That is odd about them wanting your car registration. What kind
That is odd about them wanting your car registration. What kind of reason did they give you for wanting it? Is your car paid for?
No, I have an outstanding loan on my car - I think I still have
No, I have an outstanding loan on my car - I think I still have about a year of payments to make on it.
To be honest, the Advance America employees seemed to be almost as confused as I was with the 'new procedures', I didn't get any clear explanation of any of it....