Pay day loan advice

First, you need to tell us if they are storefront Payday loans or internet payday loans. Please share the names if they are PDL's from the internet. Many of us have dealt with them so we can help you on how to handle this. It will be ok. Please read the numerous threads on people just like you (and me). We have all been there and we have survived. We will get you through this.

They were all internet. USAPAYDAYLOAN.com, Americash, Premier Processing group, usfastcash.

ok, we can help. First thing you need to do is close your bank account so they can not hit you with anymore debits. PDL's have been known to try to hit accounts with any amount due and under numerous payer id codes. So, best bet is to close it. You can ask your bank if you can have a new account number and remember do not share that with ANYONE. Try to get this done asap. Meanwhile, please tell me how long you have had these loans, how much do you think you have paid them (have you paid well over what you borrowed?) and please tell me what state you live in. Let me know when you get your bank straighten out. We will go onto the next step in helping you

ZPH,
Don't feel bad, we were all in your situation. I was almost 3 times deeper in than you!

Everyone in this community wants to help, and once you close that account, you'll feel SO much better, PROMISE! :)

Remember to come back and we can help you to either find a consolidation company or get rid of the loans altogether...you're not alone!

I closed my bank acct. last week & opened up a new one with my bank. I've had two of the loans since March, the last one Premier Processing Group since the 24th of May. The loans will renew themselves up to four times, then I must pay the finance charge & renewal fee starting with the 5th time. My credit is already messed up from college & I don't own, I rent.

ZPH12000 - did you already default on these loans? Are you presently paying them? Also, please tell me what state you live in

No, I haven't defaulted yet, I live in North Carolina. One is due on the 15th of June, so I'll probably default on that one, with Premier Processing Group.

I've been paying them each month, but the money I'm paying out is killing me. I'm paid once a month at the very end of the month, I work for the government, so money is very, very tight due to the paying back on these loans.

I was confused when you said you had already closed your bank account. I just want to make sure they can not get your new bank info. You need to secure your money. Next try to figure out what you borrowed and what you paid in. Do you have the principal paid off, don't include interest. See below, you have a law that protects you. It's called Usury. You have a cap per year of 36%. Not the triple digit you were paying. Figure out what I asked you too, you might be due a refund.

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from what I've read in the forums, PDL's are illegal in N. Carolina, which means that they were illegal in lending to you...you can DEFINITELY fight these loans! Search the forums for laws pertaining to NC, and I'll bet you'll find all the tools you'll need to fight back!

Hello,

I live in Ohio and I am trying to help my mother relieve her payday loan situation. She got into a bad financial situation about 1 1/2 years ago using payday loans. She started with about six and over the last year we have been able to pay off 3 of them. All of these accounts were opened at Payday Loan stores in Ohio. Recently her job closed and she's not able to keep paying like she's been doing. She can pay something on all of them but not the full amount. What all would you recommend we do? I really want to help her get rid of these last 3 payday loans. She's been paying for a year and it's just not going anywhere.

C Alexa,
please register with this site, and we will be glad to help you!

You've done a great thing by coming here. This place is sooo helpful!

Hello,

I live in Ohio and I am trying to help my mother relieve her payday loan situation. She got into a bad financial situation about 1 1/2 years ago using payday loans. She started with about six and over the last year we have been able to pay off 3 of them. All of these accounts were opened at Payday Loan stores in Ohio. Recently her job closed and she's not able to keep paying like she's been doing. She can pay something on all of them but not the full amount. What all would you recommend we do? I really want to help her get rid of these last 3 payday loans. She's been paying for a year and it's just not going anywhere.

I have a total of 12 internet payday loans. I know you are probably saying, "how could you be so stupid?" Well I feel very foolish now. I originally borrowed to help me pay those in between bills, now I don't even have money to pay my basic bills! I am so overwhelmed with debt and I desperate to find a solution! I know that if I could get a loan to pay off the loans or at least pay the principle down, I could manage to pay them all off eventually. I don't qualify for a traditional loan with my credit and I don't have anyone who can co-sign for me. Can you help me?

i have been receiving phone calls from foreign men telling me that i owe them 1800.00 in payday loans
i am sure that i don't,but they constantly call me at work and threaten me,today they said they were from the attorney generals office.i live in indiana

michele,

It sounds to me like a collection agency contacting you. Please register with the forums and let us know a little more about the situation.

Tamika,

You are not alone in the battle with the pdls. Please register with the forums and a counselor will contact and help you. You will find loads of info here and we are all here to help people.

calexander718, explain the present financial situation to the storefront lenders. They will understand the situation and will work with you. Offer them partial payments and you can place yourself in the comfortable side. They will like to have their money back. You need to assure them taking care of your responsibility. I hope they offer some extensions to you.

I live in Ohio and these Payday loans debiting from my checking account has created a great deal of a mess and the banks reponse is " the account cannot be closed until it is at a zero balance" I have taken a second job but things do not seem to be changing as I did not know the companies kept taking the money every two weeks because I had read on the 5th they started tking n additional $50 out until it was paid not every 5th payday. I now have 3 payday loans left and an overdraft on my one checking accounty of $1,400 even though I informed them to close the account at -$340 and nothing has been paid this is all of their overdraft fees and returned items fees. Please help. I have tried finding a contact for all of these places & I can not find anything. Ambassador ended up being Nationwide Cash and when I tried getting my balance & stating this loan should have been paid months ago because $50 was suppose to be deducted starting on the 5th payment - I was informed "No that is only new loans" When I asked for a copy of the loan agreement I signed I was told "I should have kept a copy and he would take legal action" and hung up the call also I stated he did not have time for reading emails and to settle the debt. They hince sent through 10 transactions to my bank for "the past due" not the amount due as I was not provided with this the only information that was given was $50 went toward the amount due every 5th pay! I don't remember that at all I remember $50 starting with the 5th. I can't find Access and I couldn't find Ambassador or SJM Marketing before reading this.

3New York Bank Superintendent issued an All Institutions letter June 13, 2000 confirming enforcement of New York's 25% apr criminal usury cap (?? 190.40 New York State Penal Code).

hmmm, thats why alot of pdl's will not loan in New York. What I can't understand is why they still loan in PA and Jersey. the criminal usury is very comparable

I don't quite understand it. What is Usury?
My intrest is more like 842% yearly - Can I dispute?

I also have three pay day loans out there but with the interest they charge I cant afford to pay down the principal amount owed, I will never do that again,

Advice please I live in Tx

Ok I am from Ohio and I have way too many payday loans. Like others I have read about here, I began with one then 2 then 3 so on and so on and now I do belive I have 9 out. I was just laid off from work, and I cannot repay them. I have three from three different stores in my town and 6 from the internet. ameriloan, cash4u2day,United Cash loans, 1000 easy payday loans,upfront payday.com,payday advance. I am unable to rob Paul to pay Peter any longer! Plus on top of that I have my phone bill, electric, car payment, insurance, trash etc and I cannot go on like this any longer! I will return to work next month but I will be so far in debt and bank fees that I will never get out? Please help me!

Hi guest,
please register. You'll get a call from a counselor who will talk to you about your options.

I was reading something about Rio Resources. Can anyone tell me if they were license to lend in MIssissippi? or any of the online payday that wasn't licensed to lend in Mississippi or direct me to a site?

Search through this link for the licensing info about Rio Resources.

http://168.39.159.59/default.asp

I live in pennsylvania, I have 7 payday loans. 5 of them i have been paying on since november. How can i get out of these things. I thought about closing my bank account but i am worried about them calling my work place and my referances...

krobot are they internet lenders?

My mom got into the payday loan cycle when she became ill and couldn't keep up her house payments and doctor bills, she is retired and only receives social security and a small pension a month. By the time she pays 6 payday loans each month she barely has anything left. She's been paying for a year and not making any headway she's only paid off 2. All of these were started in stores in Missouri, please advise. I was reading something about a Hard Hold on her bank account does that really work?

Hi Trouble Anita!
First off, welcome!! I am so glad you are here! Second, what I know about Hardholds is that they can work for paper items, but don't do anything for electronic debits. And the thing about these scummy companies is, they can and do go in to an account for any amount they choose--and a hardhold does nothing to stop it. Your mom would be better off just closing the account and getting a new number--and then working with the loan sharks to get payment arrangements.

I am having the same trouble took out payday loans on internet in Illinois. I have Cash Transfer that I paid 1/2 the loan and they refuse to give me an address to send them money, threatening deduct from pay. I know that in Illinois they have to get a wage deduction through the court system. I don't understand why these places won't let you make ordinary payments. I have closed my checking account because of multiple debits. I just want to pay them back and get them off my case! they only accept payments from checing account or charge cards and I will not give them that.

Evelyn,

Be firm!! Insist that you send the money. DO NOT back down and DO NOT give them your new bank account info.

They will not be garnishing your wages. A judge is not going to grant a judgement to a company that is operating illegally. Keep pushing these people.

Can I send a letter of repayment to my pdl's. I live in oregon. And if so how should i word the letter.

April, use this letter or frame it as per your situation. It is good that you are making repayment efforts with your lenders. They will appreciate your moves and work out arrangements for good.

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I am in dire need of advice. I have about 10 payday loans (internet). I do have the means of paying them off just not at once. I have not closed my bank account yet because I am in fear of defaulting but I did have my direct deposit switched to a new account. I am a resident of PA. Can you please suggest my best possible solution. I want to do the right thing and settle my debt but the fees are killing me. I have other financial responsibilities that are more important. What happens if you default?

Please do a research on your state laws about the rules and regulations on payday loans. Most of the lenders charge excessive interests and fees that are way above the state laws. Go figure the charges added to the principal loan amount if they are done legally. Talk to the loan companies and make your payment as much as possible. Pay them off one by one. If you need some professional help in this process, talk to a debt counselor for his valuable advice.

I live in Ohio and I have a total of 8 payday loans out. Four of them are store front and the other four are internet. I haven't defaulted on the internet ones yet, but I'm about to default on the in-store ones. I just can't keep up with the interest on them anymore. After I pay the interest on the loans and then go reborrow the next day to pay off another one, I'm left with nothing. I don't have a pot to piss in. It's to the point where I'm just working to pay off these payday loan companies. I'm so severely depressed. I'm not suicidal or anything but sometimes I do ask myself why am I still living. I have no motivation to do anything. I have an appointment with my doctor this week to talk to him. I figure he will probably put me on some type of depression medication. I know that one of the in-store companies won't work with me. They will want their money right up front. I'm just scared that these places my turn these checks over to the prosecutor's office and send me to jail. I told myself that I'm done with this mess and I will never walk into another payday store again or take out another one on the internet again. I'm going to pay my debts back, but I just can't do it all at once. Any advice?

Register as a member, it is free. You will get great advice and somebody will contact you regarding your current situation. You are not alone, as you can see from the many posts on this forum about pdls. There is a way out and you will soon be back in control. Stick around and we will help you through this. What pdls are you currently working with and how much do you owe each of them?

The in-store loans companies are Advance America, Checksmart, Express, and Fast Payday Loans. The internet companies are Cashnet500, Cashthis.net, Genevova Roth, and Arrowhead Investments. The total for all of them is about $3000. It's not the internet companies that scare me; it's the in-store ones because they can easily turn my checks over to the police and file charges against me. I don't won't to go to jail or anything. I'm going to pay each of them, but I just need some time.

I don't care what they say when they call, YOU CAN NOT GO TO JAIL. I live in OH as well, and pdls can not seek criminal charges for defaulted pdls. So if they call and say this. Screw them, call them on it, they are using an illegal threat. Please register with this forum and I can pm you info. You are going to get through this, and you will probably get some much needed rest tonite.

The in-store loans companies are Advance America, Checksmart, Express, and Fast Payday Loans. The internet companies are Cashnet500, Cashthis.net, Genevova Roth, and Arrowhead Investments. The total for all of them is about $3000. It's not the internet companies that scare me; it's the in-store ones because they can easily turn my checks over to the police and file charges against me. I don't won't to go to jail or anything. I'm going to pay each of them, but I just need some time.

Where do I register at?

To the right there should be something saying register.

Okay,I've registered, so you can pm me some info now.

OK. Look for my pm in a few minutes.

Welcome to the family tonyamsn! :)

welcome to the site!! You've come to a great place!

I have registered with this site I need help getting rid of these loans I live in Ohio and have been paying on these loans since May and they are not going any where please help. sfj76