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I wish I would've found this site years ago

Date: Sun, 04/10/2011 - 22:36

Submitted by hydens23
on Sun, 04/10/2011 - 22:36

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Total Replies: 6


hello, I'm new to this site, found it a couple of days ago, Anyway, I was reading through and found that I'm not alone in this mess. I have 3 payday loans now 1) oneclickcash.com 2) ameriloan and 3) mycashnow. I borrowed $300 from oneclickcash $300 from ameriloan and $600 from mycashnow. I've seen times where my account would be over drafted $200-$900 just days after pay day and I get paid monthly. So far I've paid down ameriloan and oneclickcash down to the final $190 and $170 which is due on 4-29-2011 but I still owe mycash now thousands according to them...waking up early to call them to find out how much I actually owe(finally getting the courage to get this mess under control) I think I can handle ameriloan and 1clickcash but mycashnow is a BIG question mark. Any suggestions would b greatly apreciated...just reading from this site gives me a little hope...thanks for your help J. Hydens


You need to check out if payday loans are legal in your state. If they are not legal, then you won't have to pay any fees or charges to the payday lender. You'll be liable for paying only the principal balance. If payday lending is legal in your state, then you need to negotiate with them and convince mycashnow for a settlement so that it becomes easier for you to pay off the payday loan and get rid of it.


lrhall41

Submitted by Anna Sweeting on Mon, 04/11/2011 - 01:00

( Posts: 1827 | Credits: )


i need some questions answered.

1)amount debited by each so far
2)state you are in.

all three are totally illegal,so you only owe the principle borrowed.if the amount they debited meets or exceeds the principle you owe nothing.you see since the loans are illegal they can't charge interest or fees.anytime those are debited they get deducted from the loan.so try to answer my questions and we can help you here.btw youmight be suprised by how little if anything you do owe.


lrhall41

Submitted by paulmergel on Mon, 04/11/2011 - 07:06

( Posts: 15514 | Credits: )


Actually, I just got out from under mycashnow. I had taken many loans over the last few years from them. Recently, on the current loan I decided it was time to get out of the trap of the constant roll over. I had already paid back the principal plus on the current loan. After researching, I came up with with Credit Protection Depot is who does their collectons and deals with payment issues. I faxed a letter to credit protection depot (MCN c/o CPD) - simple letter, revoling ACH withdrawal from my account effective immediately. I summarized my state's law in simple terms regarding payday loans (i.e. prohibited and illegal). I did this about 6 days before the next payment was due. I did end up closing my bank account just in case. They obvsiouly received the letter because my online account was frozen the next day with a note to call for any information on my account (and the phone number provided was to Credit Protection Depot, not MCN #).

This was almost a month ago and I haven't heard a word from them. No phone calls, nothing.

If you've repaid the principal balance and payday loans are illegal in your state, perhaps you can do the same and hopefully be done with them.


lrhall41

Submitted by New2011 on Tue, 04/12/2011 - 22:28

( Posts: 14 | Credits: )