i need to eliminate my payday loans

Are your payday loans storefront or internet?

My first question would be "do you have a job or source of income?" Registering here will enable you to speak to a debt counselor---be prepared with the names and addresses (if possible). These are not necessary to speak to a counselor of course, but you will need them for reference. Good luck!

I have six storefront and 4 internet

Okay---you need to determine how much you owe and how much you have already paid. Also, what state are you in? This is important as PDLs are illegal in some states.

Yes,i have a full-time job

I owe about 2551.93 storefront and about 1227.50 internet yes,i real MESS!!,HUH?

I live in kentucky

What are the names of the internet lenders? How much did you borrow and how much have you paid back in interest so far?

Geoffrey, I just want you to know that you are not the only one in this payday loan mess. I am in the same position. Finally this past week I am getting myself back on track. I closed my bank account (so the companies can't continue to take out the interest they have been taking from me) and I stopped my direct deposit so I'll get a paper check. And the reason I did all this is because I consolidated them all with a great company. Just keep your head up, don't feel like there is nothing you can do, there is. I felt the same way. It will be rough for awhile, but it'll be worth it. Good luck with everything, if there is anything I can do, just let me know, I'll do my best to help.

1.CashAdvance USA 2.Little loan shoppe 3.MTE Financial 4.Christian financial-Internet 1.Cash,etc.2.Check 4 check 3.Cash express 4.Check into cash 5.cash advance america 4. A plus cash advance-storefront Help!

How much have you borrowed from the internet lenders and how much have you paid back in interest so far?

What I can tell you is that criminal prosecution for PDL in KY is prohibited and also that IPDL are illegal in KY...I am in OH and am going through the same mess you are. The first thing to do is gain back control over your finances..You have probably paid back the principle for the Internet ones...

A POSSIBILITY is closing your bank account and/or stopping payment on the checks or withdrawals. If when you signed up, you entered your phone number, a debt counselor will be calling and you can further discuss your options. In the meantime, read the advice given on this board and post any questions.

Remember that the advice given on this board is from people just like you, who have been in the same predicament as you. No one that posts here is an expert, so the advice they give you is more personal rather than that of professionals. In other words, listen to everything and then make any informed decision.

Leah, Brownsugar and Kim---I am not downing your advice, but just informing Geoffrey of how our board works.

Leah - Where did you get that ipdl's were illegal in Kentucky? I don't see anything saying that. Usually when states have laws about pdl's that apply to "check cashers" they were thinking of storefronts, and left out internet loans all together. This usually means that internet loans are a loophole in the laws. This may or may not be the case with Kentucky, but I'm just curious on where you are finding that info.

I did find something interesting looking:



So it looks like you don't have to worry about being taken to court for your storefronts. That's nice . . . .

My friend contacted the financial instustion of ky and they told him that...

Darn I hit reply too soon..Anyway my friend contacted them and they said that they don't take kindly to any internet payday loan as they are all illegal and most are just scam artists...In fact, they said they don't particulary care for the storefront ones either...KY is so wierd about some things...They won't prosecute you over a storefront defaultment but if you write a a bad check for like 7 bucks they are ready to put you in jail..LOL

Don't feel bad because Louisiana doesn't regulate the internet payday loans either which ticked me off considering that these companies were coming into the state and servicing customers who were your citizens.

I would recommend that you do what I am doing and becoming a pain in the butt in the state. Find ways to contact your local politicians and be persistent about getting rid of payday loans in your state.

I am quite sure that you are not the only one in Kentucky having this issue.

I'm trying to find a company that will help me consolidate my pay day loans so that I can have some money to pay regular bills. Food, Rent, etc. etc.
All help appreciated

matrlgirl -

we don't advocate taking out loans to pay off payday loans...but if you will go to the Payday Loan Help forum and post a new thread, listing out the following, we can definitely help you find a way out:

-state you live in
-names of all lenders you are dealing with
-whether the lenders are storefront or internet based
-amount you borrowed from each one
-amount you've repaid each one (including all interest and/or "rollover fees"

Armed with that info, we can help you find some light at the end of the tunnel! But trust me, getting a loan to pay back loans will only lead to more loans, etc...it's a vicious cycle.