Legal Loan Help!
Date: Sun, 10/02/2011 - 14:04
I live in Michigan and have 3 Open Loans.
Advance America $676.48 <- Paid off with a deferred transaction agreement 2 payments of $225.48 and have one left
Spot on Loans $300 <-- Paid $390 off
Spot on Loans $300 <-- Have made 2 payments of $139.00
Spot on Loans $400 <- No payments made yet
I know Advance America is a legal payday loan lender in Michigan and I have already set up a deferred transaction agreement to make 3 payments of $225.48. I have made 2 but am struggling with the third payment which is supposed to be taken out this week. I emailed them revoking them to take out the ACH Payment and told them to contact me via email to set up payment installments for the remainder and to get me a mailing address to send payments to... is that how I'm supposed to do that? Does anyone know how to deal with legal payday lenders? I had a lot of trouble finding it in this forum...
As for Spot on Loans they are obviously an illegal lender from all the information I've gathered on this site and the web. I emailed them also to stop the ACH payments and told them I would be sending payments for the remainder of $332 that I owe since I should only pay the principal.
I tried to get the bank to freeze my account over the phone but they said I have to go into a branch, but all the branches are closed on Sunday!! What's the best way to explain to them to freeze my account without completely walking in and being mortified talking about how I got sucked into this dumb payday loan trap, as this is such an embarrasing situation to be in? PS. I have 2 checking accounts and both lenders have information for both!
Sorry so many questions :D just want out of this trap and back to my happy life prior to these devilish things that I stuck myself into...
Advance America $676.48 <- Paid off with a deferred transaction agreement 2 payments of $225.48 and have one left
Spot on Loans $300 <-- Paid $390 off
Spot on Loans $300 <-- Have made 2 payments of $139.00
Spot on Loans $400 <- No payments made yet
I know Advance America is a legal payday loan lender in Michigan and I have already set up a deferred transaction agreement to make 3 payments of $225.48. I have made 2 but am struggling with the third payment which is supposed to be taken out this week. I emailed them revoking them to take out the ACH Payment and told them to contact me via email to set up payment installments for the remainder and to get me a mailing address to send payments to... is that how I'm supposed to do that? Does anyone know how to deal with legal payday lenders? I had a lot of trouble finding it in this forum...
As for Spot on Loans they are obviously an illegal lender from all the information I've gathered on this site and the web. I emailed them also to stop the ACH payments and told them I would be sending payments for the remainder of $332 that I owe since I should only pay the principal.
I tried to get the bank to freeze my account over the phone but they said I have to go into a branch, but all the branches are closed on Sunday!! What's the best way to explain to them to freeze my account without completely walking in and being mortified talking about how I got sucked into this dumb payday loan trap, as this is such an embarrasing situation to be in? PS. I have 2 checking accounts and both lenders have information for both!
Sorry so many questions :D just want out of this trap and back to my happy life prior to these devilish things that I stuck myself into...
Dont worry about being mortified....branch managers have heard a
Dont worry about being mortified....branch managers have heard and seen everything. Simply tell them that the lender is illegal and they are not following Michigan state law...your fear is that they will ignore the ACH revocation.
