Multiple Internet Payday Loans
Date: Wed, 02/29/2012 - 12:09
[COLOR=black]I have 4 active internet payday loans: Plain Green, Classic Group, Loan Star, and OncClick Cash.[/COLOR]
[COLOR=black]I have been paying only the interest on these since November and I cannot get out of this debt.[/COLOR]
[COLOR=black]I had set up the payments to be withdrawn from my account on Thursday's - as it was when I would get paid. I noticed that I would accrue OD fees from Plain Green and it turned out that they would run the payment at midnight and my direct deposit did not hit the bank until 6:00 am.[/COLOR]
[COLOR=black]Anyhow, I have changed jobs and I get paid on Friday's now. I have managed to change Plain Green to be withdrawn on Monday's to guarantee that the funds are there, but I have called the 3 other companies and no one answers! It says their reps are unavailable and for me to call back. I used the number listed on my bank statement when they withdrawal the funds.[/COLOR]
[COLOR=black]How can I get this changed to avoid any overdraft fees?[/COLOR]
[COLOR=black]Also, I would be interested in finding out if I can just pay the principal amount on these. How do I go about finding out if I can do this and what wording do I use when I do get a hold of someone?[/COLOR]
[COLOR=black]I just don't want them to say that I signed a contract saying that I promised to pay the principle plus the interest - which technically I did.[/COLOR]
Any guidance would be helpful and thank you in advance.
[COLOR=black]I have been paying only the interest on these since November and I cannot get out of this debt.[/COLOR]
[COLOR=black]I had set up the payments to be withdrawn from my account on Thursday's - as it was when I would get paid. I noticed that I would accrue OD fees from Plain Green and it turned out that they would run the payment at midnight and my direct deposit did not hit the bank until 6:00 am.[/COLOR]
[COLOR=black]Anyhow, I have changed jobs and I get paid on Friday's now. I have managed to change Plain Green to be withdrawn on Monday's to guarantee that the funds are there, but I have called the 3 other companies and no one answers! It says their reps are unavailable and for me to call back. I used the number listed on my bank statement when they withdrawal the funds.[/COLOR]
[COLOR=black]How can I get this changed to avoid any overdraft fees?[/COLOR]
[COLOR=black]Also, I would be interested in finding out if I can just pay the principal amount on these. How do I go about finding out if I can do this and what wording do I use when I do get a hold of someone?[/COLOR]
[COLOR=black]I just don't want them to say that I signed a contract saying that I promised to pay the principle plus the interest - which technically I did.[/COLOR]
Any guidance would be helpful and thank you in advance.
What state do you live in? I have a feeling none are legal.
What state do you live in?
I have a feeling none are legal.
Dealing with Internet Lenders
The Lenders will likely huff and puff but if you stand firm and threaten to escalate to your State Lending/Financial authorities and Attorney General they will often be amenable to settling the loan for principle.
Check this site for sample letters you can send after checking the laws for your State. Be sure to edit the sample letters to be sure it is relevant to your specific situation.
Revoke ACH authorization so they cannot take any more of your money.
Contact me if you need more info.
