What to do in TN.

Date: Thu, 01/21/2010 - 09:16

Submitted by mroland
on Thu, 01/21/2010 - 09:16

Posts: 7 Credits: [Donate]

Total Replies: 4

I have just joined and may have posted in the wrong thread. I live in Tn. and like the others that I have read , I am in a payday trap, I haven't defaulted on them, I have consulted a consolidation co., but I don't know if they are good, they sound like it, they want 531.00 upfront to start it. I have alot of loans so I thought going with a consolidation co. would help me better, I just don't know. All my loans are internet. They are
ameriloan 300.00-90.00
unitedcash 300.00-90.00
pay1day 250.00-75.00 (solomon finance)
FDB 700.0-114.50
discount advance 610.00-115.50
paydayone 1000.00-187.50 (i have had this one since 07)

I have stupidly taken more out to try to pay some off, if that makes sense. Any suggestions or recommendations? Thanks

Click the link below to view your payday loan laws: http://www.p

Click the link below to view your payday loan laws:
http://www.paydayloaninfo.org/stateinfo/TN.asp
TN allows an internet based payday loan company to lend legally as long as it is licensed in any US State. They would need to follow the laws of the state they are licensed out of, not the state the consumer is in.

lrhall41

Submitted by Shazzers on Thu, 01/21/2010 - 09:20

( Posts: 17344 | Credits: )

Looks like your only legal lenders are PaydayOne and FBD, otherw

Looks like your only legal lenders are PaydayOne and FBD, otherwise, the others aren't licensed to lend anywhere, therefore; CLICK HERE to find out how to deal with illegal lenders.

lrhall41

Submitted by Shazzers on Thu, 01/21/2010 - 09:21

( Posts: 17344 | Credits: )

If I were you, I would close out my account and make arrangement

If I were you, I would close out my account and make arrangements with the legal lenders first and foremost, read the link I gave you on how to deal with the illegal ones.

lrhall41

Submitted by Shazzers on Thu, 01/21/2010 - 09:22

( Posts: 17344 | Credits: )

Thank you for replying so soon. Would I close out my account fir

Thank you for replying so soon. Would I close out my account first and then start with the legal lenders? I have heard horror stories about closing out your bank account. Also I read about a revoke ach authorization letter I would send out to them. What would be the steps to take to start tackling all of this. Thanks

lrhall41

Submitted by mroland on Thu, 01/21/2010 - 09:42

( Posts: 7 | Credits: )