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Hello, I have 5 payday loans

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I recently discovered most of my payday loans are illegal and they have been charging me really really high interest fees. I just joined a debt consolidation program so that I can pay these loans off. I had so much to happen to me in the last past year and I needed some extra cash in between pay periods. I make good money but since these payday loans fees have been coming out of my check and overcharging me I have little or no paycheck at all. I couldnt close my bank account because I had a negative balance. I had to have my payroll check deposited on a prepaid card so that these companys will not get my money like they have been but I want to keep my current account. I plan on playing this payday loans off but Im not going to pay them more that what I owe. Can you please give me some advice on how to handle this situation. I plan on going to my bank and putting and no debit status on my account so these companys cannot keep debiting my account. I once got a threatened call saying that they were about to garnish my check is that at all possible. Can someone please give me some more information and/or advice on what it is that I need to from here on out.




Send each one an email revoking ACH authorization, any wage assignment, etc.... See if PDL’s are legal in your state. If not, then pay only the principal. File complaint with your local BBB. I was able to resolve two via that route. One of the posters on this site has a template letter to send to them about payment, refund request, etc......Stand your ground.

I can feel your pain as I was there too. Wish you best of luck and keep us posted.

Sub: #1 posted on Wed, 09/25/2019 - 20:55

Stonecoldmac Stonecoldmac

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Revoke your ACH authorization as soon as possible. This is the only way to stop this problem. Secondly, They can't garnish a paycheck due to 2 reasons:

1. They are illegal.
2. Since they are illegal, so they can't file a lawsuit or get judgment against you. If they can't get judgment against you, then the question of wage garnishment doesn't arise.

Sub: #2 posted on Thu, 09/26/2019 - 00:34

Nick Jonas Nick Jonas

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They are illegal lender, they have no authorization to take these actions against you. Pay the principal amount.

Sub: #3 posted on Mon, 09/30/2019 - 22:56

Sanders Patricia Sanders Patricia

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