I stumbled on this site after I signed up for a PDL Consolidation company called You Payday Loan Help. I still have time to cancel the contract with them, but have yet to decide if I should. I currently have 5 internet payday loans that I have paid well over what was borrowed and are current as of today.
Information as follows:
Original Loan: $400
Interest on Loan: $120
Paid to date: $530
Outstanding balance: $455
Northway Financial (www.zip19.com)
Original loan amount: $350
Interest on Loan: $69.94
Paid to date: $349.70
Outstanding balance: $419.94
National Payday (www.nationalpayday.com) Original Loan: $500
Interest on Loan: $125
Paid to date: $800-$1000 (estimate as I don't have bank records that go back far enough)
Outstanding balance: $496.12
Sonic Cash (www.soniccash.com)
Original Loan: $200
Interest on Loan: $50
Paid to date: $105
Outstanding balance: $242.16
Original Loan: $300
Interest on Loan: $90
Paid to date: $0
After reading the sticky "Dealing with Illegal Payday lenders", I went ahead and went to my bank, talked to the manager there and they changed the routing number on my account so these guys can't get into it. I sent each lender via e-mail, and mail (to the one's I could locate an address too) the letter that shazzers linked too that included the State of California's Laws. I made complaints to the BBB, FTC, Department of Corporations, CA AG, and IC3. I even found that ameriloan, northway financial, and national all have been issued cease and desist orders from the Dept. of Corps.
Obviously, I would like to pay back what I have borrowed that isn't above and beyond what was lended, but I am not sure if I should continue with the loan settlement company I have contracted with. I have only received an e-mail thus far from ameriloan requesting that I call them. I responded by indicating in my e-mail that all correspondence should be via e-mail or mail. I don't have the money to pay for settlements at this time, so I have contemplated just keeping with them. Any help would be great.
Also, does anyone have any contact information for National Payday? Their site has no e-mail address, phone number to call for a live representative, or anything, and the BBB site says the company's address is unresponsive.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
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