Help with Pay day lenders
Date: Mon, 11/05/2012 - 19:55
I apologize in advance if this has been already covered in other posts but I'm trying to get my finances in order and would really appreciate any help that can be given. My fiance and I both live in Florida and have several oustanding balances with "pay day lenders". We both have been paying them on time but it seems like we aren't getting ahead (paying more than what has been borrowed) like we should. I'm trying to determine the best course of action. Looking through other forums it seems the best thing that has been suggested would be to close our account and open a new one so they would not have access to our funds anymore but I'm wanting to know what other options we should take. Below are listed lenders that we owe and what was borrowed and has been paid. We are trying to determine the legality of the debt and what to do. Any information would be extremely helpful and thank you all for your time.
My loans (thus far):
Green Trust Cash - Borrowed $200; Paid $402.50
Plain Green Loans - Borrowed $1,000; Paid $760.44
500 Fast Cash - Borrowd $450; Paid $725
Hers (thus far):
500 Fast Cash - Borrowed $400; Paid $480
Mobiloans - Borrowed $600; Paid $375.00
Each and every one of the listed lenders are illegal. Closing yo
Each and every one of the listed lenders are illegal. Closing your bank account is a good idea but only do it AFTER you have revoked ACH authorization for all the lenders. Send copies of the same to the bank as well. Legally, you guys do not owe a buck to these illegal lenders but on moral grounds we recommend that you repay the principal ONLY.
You have actually overpaid on every account except for Plain Green and Mobiloan. Take care of them when you feel like. You do not need to enter into a payment schedule with them. Pay when you please. You are in charge, you set the rules.
Please go through this thread for more details:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
Thank you very much for the information and I will do as you hav
Thank you very much for the information and I will do as you have suggested. One more question though, I forgot to list zip19 as a lender as well and I am wondering on the legitimacy of this loan as well. I continue to reborrow with them week after week and wanted to know what my options could be with them as well. I have borrow $435 from them which they in turn want $522 as a payment. Would they be open to payment arrangements. Thanks again for any information that can be provided.
Zip19 is an illegal lender. If you have already repaid the princ
Zip19 is an illegal lender. If you have already repaid the principal amount, stop, revoke ACH, send them a letter and ask them to mark your account PIF and bug off.
I'm a bit confused, I'm getting ready to go through all the step
I'm a bit confused, I'm getting ready to go through all the steps regarding the illegal lenders and noted in Ohiogal's sticky step by step instructions to contact the back first before the lenders, yet you are saying contact the lenders first and revoke the ach authorization. Sorry just want to be clear on what to do.
Sorry about the confusion I caused. You ALWAYS need to contact y
Sorry about the confusion I caused. You ALWAYS need to contact your bank before you talk to the lender simply because these idiots tend to hit your account the second they realize that you got wise to their illegal ways. Follow OhioGal's sticy step by step. We here consider it to be the Bible of how to deal with illegal PDLs.