Payday loan NIGHTMARE!

You have come to the right place. we have all been where you are, and believe me, there is light at the end of the tunnel. Please list who you have the loans with, the amount of the loan and the amount you have already paid. Tell us if the loans are store front or internet and also tell us what state you are in.
Some one will be along shortly to help you. Please dont worry. Thongs will get better

You need to close your current checking account but before you do check to see what your banks policies are regarding closed accounts and ACH withdrawals. Some banks will force them back open. Also a couple of state, Texas being one of them, will allow criminal charges to be filed for deliberate closing with fraudulent intent. You must also get your employer to issue you a live paper check until you get a new account open in a different bank that you feel is safe. Keep that info a closely guarded secret. Please answer the question posed by kaszan as this info will help us help you. You should also take advantage of the free consultation and consolidation services provided by one of the many ranked debt consolidators on this site. Like kashzan said, "there is light at the end of the tunnel." Many of us have been through the same thing.

loppy, please post the state you reside in, what pdl's you have, if they are store front or internet, the amount borrowed for each one (principle only) and how much you have paid back so far. We need this information before you should take any advice. Different states have different laws regarding pdl's. Store fronts are handled differently than internet. Bank accounts are all handled differently. Please post all the necessary information before you do anything. We can then look at the law, who is licensed/legal, etc. We need this information and we can more than likely help you here. :D

Schloppy, Please post the info on this thread, so that others can help you .

payday loans in state of Colorado, all five are storefront- Advance America ($575 w/finance), Check & Go (575 w/f), Ez Money ($575 w/f), Loan Mart ($575 w/f), High Speed Cash ($360 w/f) I have paid nothing to any of them but they are all trying to pull from my checking some electronically- I have not a dime to my name!

loopy, here are CO's pdl laws. We can check them out. As you will note, only one pdl is permitted at a time. Their mistake for letting you take out five. I hate store fronts, because they normally are licensed and abide by the state laws. However, I have to ask you - What do you mean they are trying to take money electronically from your bank? Do you not write a check to them, go there, pay your check, re-write another check? Is that what you're doing? Or what exactly is it your doing every two weeks? Please let me know. Meanwhile, here are your Payday loan laws for Colorado (just select your state),: :D

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I see that your state is one of the few that has possible criminal penalties for closing you account. I think finding a consolidation company that hanldles PDLs as well as credit cards may be your best option. They are few and far between but they do exist. Try searching some of the other threads by typing is keywords like payday and consolidation. Maybe someone here will know of a good one.

loopy, they can prosecute if you close your bank account. Have you spoken with the store fronts to see if you can work out payment arrangements with them? Some store fronts will work with you. Please post.

loopy, send me a pm. I saw a quick message on my home page. I need for you to send me a pm. That's a private message. Look underneath my post and you will see a button that says "pm". Click on that and send me a message so I can send one back to you regarding your loans.

Write your comments here, please.

mavines, excuse me?

Maybe Mavins is asking you to put your advice for sloppy here so he can see it too? Maybe he needs help too and doesn't want to ask, just reads through threads . . . I don't know . . . . Either that or it's spam . . . .

Just call me paranoid. I'm thinking it's a pdl sucking up information and wants to see any suggestions/comments. Like I said, just call me paranoid.

I'm with you . . . . Very odd . . .

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Ah! Makes sense now! Thanks Mike!

Thanks, Mike! That really threw me off! :shock:

as most others posted here, I too have fallen into a trap of pay day lending. Although, some of them call them "installment loans" now but they work in the same manner....post dated check..pay interest payments every 2 or 4 weeks. I am through 5 all in IL. I do not know how to get away from them and it is killing me financially.