Payday loan madness - washington storefront pdls

What state are you in?

sorry, Washington

angry, I'm going to post your state pdl law for us all to see. Can you tell us the names of your storefronts? And have you defaulted on all of them? :D

Washington State Information

Legal Status: Legal (Lender must have a small loan endorsement to their check casher license in order to make payday loans)

Citation:
Wash. Rev. Code Ann. ???? 31.45.010 et seq.

Loan Terms:
Maximum Loan Amount: $700
Loan Term: Max: 45 days
Maximum Finance Rate and Fees: 15%: first $500; 10%: remaining portion of the loan in excess of $500 up to the $700 maximum
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: A company cannot hold a check or checks in an aggregate face amount of more than $700 plus allowable fees from any one borrower at any one time.
Rollovers Permitted: None (cannot repay loan with proceeds of another)
Cooling-off Period:
Repayment Plan: A company and a borrower may voluntarily enter a payment plan at any time. A borrower, however, has a right to convert a small loan to a statutory payment plan after four successive loans and prior to default on the last loan.

Collection Limits:
Collection Fees: $25 NSF fee (one time per instrument); collection costs (excluding attorney's fees, interest and damages)
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Washington Department of Financial Institutions
Address: Division of Consumer Services, PO Box 41200 Olympia WA 98504
Phone: (360) 902-8700
Fax: (360) 725-7827
Regulatory Contact: Chuck Cross,, Director of Consumer Services

I have defaulted on all of them, i will include original loan amounts (i have made some payments..)

Money Tree- (650 +25 NSF)
Rapid Cash- (460 + 25 NSF)
QuikCash- (345 +25 nsf)
CZ- (230 + nsf)
Advance America (460 + 25nsf)
I just paid off one to Cash and Go and my boyfriend (from same bank acct.) also had one for 230 that bounced from Check into Cash

So I'm about 2200 now, looking at all of the payments

redhead,how much did you pay back to each place?

Money Tree- (650 +25 NSF) = pd 130 *555 bal
Rapid Cash- (460 + 25 NSF)= I had another one here and pd that one off so $0 on this loan
QuikCash- (345 +25 nsf)= pd 100 *270 bal
CZ- (230 + nsf)= pd $60 *bal 195
Advance America (460 + 25nsf) = pd $60 *bal 425

thanks!

angry, since you've defaulted on them all, we won't go into the CFSA regarding payments. What you can do is contact every one of the storefronts and tell them you need to make arrangements. They have to be arrangements that you can live with - not break you. If they don't want to cooperate, they may turn you over to collections (you can set up payments), they may turn you over to their corporate office (you can make payments), they may turn you over to an attorney (you can make payments plus the attorney fee). Whatever they do, you're going to be able to make payments. But the key is to keep in constant contact with them. Do not ignore them. Contact them. If they call you, take the calls. This will prevent them from harassing your references or calling you at your workplace. Now, the good thing is that criminal action is prohibited. So, no criminal action will be taken. However, they can take you to civil court if they want to. If they do, go. You'll more than likely end up making payment arrangements there. If you have ANY questions, just post! :wink:

Thank you!

I have been ignoring there calls...and they keep calling me at work (i keep getting in trouble too) every time i tell them i can't make the payments they want they get upset with me. I need to be stronger but i feel so ashamed it just makes me depressed and irritable. :oops: They make me feel like a horrible person. Thank you for the advice, i think i will call them today and try to tell them straight.

Thanks again

angry, please don't feel ashamed! You're certainly not the only one out there in this situation! We've all been there! This is how I found out (the hard way) not to ignore their calls. They began calling my references and my work place. Crap! :shock: I just kept in constant contact with them (which some were total jerks to deal with) and make the payments that I arranged. Please call them and try to set something up so that they'll leave you alone. Also, you'll be done with them once you're paid off! That's something to look forward to! Like I posted before, they'll tell you what their procedures are (corporate, collections, etc...). If they want to send you to collections or corporate, fine. You can make payments. If it comes down to getting "ugly" and going to civil court, then just go. You'll set up payments. They just want their money back. I know they are sometimes hard to deal with; however, you can get through it! I promise you! Keep us updated on your progress with your phone calls to them. We might be able to help if you run into any problems! :D