Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

PayDay Loan Help

Date: Fri, 11/09/2012 - 15:31

Submitted by tiffanyscholl
on Fri, 11/09/2012 - 15:31

Posts: 9 Credits: [Donate]

Total Replies: 5


I have fallen victim to payday loans. I am trying really hard to fix this situation. Does anyone have a template for Considered Paid in Full? For some of these, I have had them for months and what I have paid in fees I have paid over 3 times the principal amount. Any advice would be much appreciated! Thank you!!!


Welcome! First off, what state are you in? Once we know, then we can determine if the loans you have are legal or not. If they are illegal and you have paid them three times over, then you need to do the following:

1. Close your checking account (this is the surefire way of stopping any more debits).
2. If you can't close your account, then you need to revoke ACH (debit card) and electronic check access to the lenders by speaking with your bank.
3. Notify your lender via email and/or letter that you know they are illegal, you have paid your loans in full (list all payments if you can) and you are demanding refunds for the overpayment.
4. File charges with the agency in your state that regulates lenders.

Good luck, and let us know what happens!


lrhall41

Submitted by kscornell on Sat, 11/10/2012 - 10:55

( Posts: 4407 | Credits: )


Who are the lenders, list them - what borrowed and what paid - someone will be able to help you with who might be legal and who is illegal.

If you use the link in my signature for Payday Loan Laws for Each State, you can see what Iowa's laws are for PDL's in general - now all will not fit under this - so that is why I am suggestion you list them out so that someone can help you with know which is which.

Remember we are all here to help you. We have all are going through this or have been through this.


lrhall41

Submitted by HelpinAZ on Sat, 11/10/2012 - 14:35

( Posts: 1870 | Credits: )