Payday Loan Cycle

these places are illegal and idiotic.they deluge you with illegal abuse then lay low.that is how they do things.it happened with me for the first year of my experience.that was in 2007-2008.they will eventually wane,but refresh me.you did file complaints right?if so file follow-ups as they have no right to do what they are doing.

I don't think there's a particular trigger.

I'm assuming your lenders are not licensed? Had you repaid at least the principal balance prior to default? Have you used the tools on this site? Filed complaints?

Yes to all except paying back the princial which I'm willing to do but they will not accept my offer. I had seven loans and through tools on this site I resolved three by paying the principle, but there are four who wont move. They are all illegal and three of them have called and called. But lately the CA for one has illegally threatening me with check fraud. which you folks helped me with in another post.

Hi,

If the payday lenders are illegal in your state, then they will have to accept the principal amount. You're not liable for paying them anything else. Even the collection agency may not be able to take any legal actions against you as the payday lenders are illegal in your state. However, if you find it difficult to negotiate with them, you can contact a debt relief company and take their help in this matter.

Take care.

I agree with my previous posters. You can glance through the following link to know about how to deal with illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

All I can tell you is this don't let them scare you. If they want to refuse to accept your terms then to bad for them. You have all your complaints filed and your account closed so they will never be able to get to your money now so if they want at least the principle back they will eventually fold.