How to get out of the payday loan trap

First: 1. What state are you in?, 2. How many loans do you have outstanding and with who, 3. How long have you been paying on them, and finally 4. Are these storefront or internet pdls?

I'm in PA - the loans are with Cashnetusa, Paydaydayselect, GFS, Arrowhead, Netcashusa,
Paychecktoday
They are internet pdl's and I've been paying on them since about May-June 06

Read this link, you will know about the laws in PA.

http://www.debtconsolidationcare.com/settlement/pennsylvania-pdllaw.html

Review your bank statements and figure out how much you have paid on these accounts. You are liable to pay only the principal amount because that's what you borrowed from the lenders, no matter if they are not licensed in your state. The companies don't have the rights to add charges because your state has no specifics. So, review your statements and see whether you still owe a balance. Then make your arrangments by them one on one.

You have been paying on these for quite some time now. How much have you paid so far on them? It could be you have paid back the principal, allowable interest and then some. You could use this link and use the settlement template letter written by Polly and insert your state's pdl laws, demand they mark your account paid in full, and file a complaint with the AG's office, and mention you filed a formal complaint with the AG's office at the end of the letter. Here's the letter link:

cabyh59, follow the advice given above.

Also, you can search for the companies at the google box and read what others had to say on them. PA laws are in favor of the people and most companies often do bad by doing something illegal with the charges. You may get a strong hold on them if you do everything that your state allows.

I received the advice and really really appreciate it now at least I know where to start and what to do.
I only have 2 weeks till my next pay - but, I will connect to the web sites advised and research my bank
statements for how much was originally borrowed and see how much was paid out. I feel like I'm
rambleing on - I am even shaking as I am trying to
type this. so first of all - THANK YOU for the advice
2nd - I am still trying to figure out how to
manuver around this web site - so bare with me.
1st question - when my site comes up - the
goggle search is on the right side of the screen and
it covers part of the e-mails - how do I minumize
this so I can read the full response.
and once on the site - how do I get to my sign on
page to find my responses.

Thanks

Read this link. Your query is been answered

http://www.debtconsolidationcare.com/getting-loan/about16675.html

After you sign in the forums, you get your personal homepage as a member. Click to see all your posts done in this forum.

when I try to register - it tells me that my e-mail
already exits.?

Caby and Cheryl - you can do this :)

Take a little time and read through the threads, if you get overwhelmed, pm me or anyone else you feel comfortable asking questions to. This is not the end of the world and as I was told "you WILL make it through this!"

Cheryl

Can you use any other email address because you used one previously that is in the system? Or you can call the customer care at 800-601-1579 and ask for help.

I am going to take my time now and read through the
threads and if still having trouble will call the
customer care center. Will try and get back to you, as
I will have to be going to pick up my daughter -
(teenager) so hopefully she let me back on for awhile
I did print out some of the pdl - how much was borrowed and how much was paid...
1st question - should I just get intouch with them first and see if they will accept what I paid as full payment - - or should I close my bank account and re-open under a new one before next payday.
that is with netcashusa and I think the other one was
arrowhead so far... has anyone dealt with them for pay offs...

as the teenager says - brb

thank you and god bless.

Well - I thought I was told that someone would contact
me about the debt consolidation on my pdl's or something like that - I haven't had anyone contact me
to date 11/01 - should I wait till someone does or
should I contact the pdl's and try and make some
reasonable payment arrangements???
or close my bank acct - so I can pay my car and utilities before my next paycheck 11/10 is sucked
up from the pdl's.

thanks

Check your pm inbox

I emailed to you a few days ago but I don't seem to have the number for GFSIL. I faxed them a letter but have had no reply as of yet. Thanks

Looking for the phone number for GFSIL. Need to find out how much I owe and how to settle.

This is the # I have
phone 1-877-280-3359
I don't have a fax # for them
hope this helps

Well - I don't know if the worst is over - but I just
sent out my letters to the pdl's I more then paid
enough money on...so of course my heart is pounding,
and I'm sure I won't sleep tonight.....all I could say
is Thank God for this web site... I have a feeling I will be visiting it "ALOT" in the next couple of days and I will always keep intouch for encouragement and hopefully to help encourage others

God Bless

cabyh

cabyh, the easiest thing to do in the payday loan trap is to stop paying them. Reclaiming your payday is both empowering and a way to finally be able to sleep at night without those knots of tension in your stomach. You will be fine. Stay strong and resilient and remember you have a lot of people here for you whenever you need someone.

Peace~

Thanks Polly - I guess in the beginning it is hard..
I know once each new day goes by it will be easier...

Hi
just wondering I read in the laws for PA that "Small
Loan Rate Cap" is $9.50 per $100.00 per year discount or 24% per year - does this mean that the pdls can only charge me that amount for pdls no mater what state they are in??

thanks

PA laws are not friendly for the borrowers. Though PA prohibits payday loans, if the internet loan company is licensed in their state from where they operate, they can put charges on your account in your state. Storefront lenders are illegal in PA.

Check this link

http://www.debtconsolidationcare.com/settlement/pennsylvania-pdllaw.html

and http://www.debtconsolidationcare.com/mystory/pdl-in-pa.html

I received a e-mail from one of my pdl's to close
my account with them - but I can't open the file -
I tried in adobe (file to large) and internet explorer
and nothing happens - could someone help me to get this open so I can review it and send it back to close
my accout...
thanks

If you can't open it, can you e-mail them back and ask that they send it in another file or paste it to the e-mail. They may be doing this on purpose. I had one internet pdl send me a file that I couldn't open and I kept demanding they just say it in the e-mail.

received a e-mail from one of the pdl's - attachment
with a proposal to close the account is a Dat file
46 kb - can't get the attachment opened - adobe says
to large a file...need to review this attachment so I
can close at least one of my pdl's

it looks like my message went thru twice - my fault
thanks - I'm going to e-mail them back and ask them to
paste it in the e-mail - I thought they might be up to something!!!!!!!

well I e-mailed the pdl company about the attachment that I could not open - so now I'll have to wait and see what they say....

I think they do that on purpose, I had one internet pdl do that to me, but when they saw that I forwarded the e-mail to the AG, they miraculously sent it pasted to my e-mail. Problem solved.

Have a $200.00 loan - already paid $350.00 back,
they keep calling saying I still owe $350.00
I ask for a copy of my agreement and they stated they don't have paper records - that agreement was verbal,
so my question is - What state are they in if any as
the person I talk to sounds foreign and also I live in PA - what is the most I should pay them.
also - I'm just wondering - I don't remember doing a
verbal agreement over the phone with them and anyway, wouldn't they still need paper info. even if from the internet - how else do they file their taxes (if they
file taxes!!!) any suggestions on how to handle them...

cabyh59,
If you don't mind me asking who is your loan with.

cabyh59 most of these pdl companies are owned by companies outside the US. i know of one that is located through British Columbia. I had a friend who had hers through a company over in London. They opperate outside the US, and I think that is how they get away with the high costs.