Pay Day Loan Nightmare
Date: Thu, 10/02/2008 - 02:55
I am a single mom and just trying to make ends meet.
I currently have $4,600 in PDL's. I'm trying to pay them off but what about my other bills? Do I go late on those? I need to pay rent but Cashnetusa is due which is $1116. Not to mention the others are also due that same day.
I have 1 store front and the others are internet.
I have been reading about EPP on here. What do we do for the internet ones.
I live in Wisconsin.
Any help you can give me is greatly appreciated as I'm up sick at night about this.
Thank you!
you are not alone....
I know how you feel (and so do many on this forum)...I also am a single mom with 2 boys and 6 PDLs (all storefront). I have been doing the PDL revolving door for almost a year now and I just signed EPP with 3 of the PDLs yesterday. I decided for the other 3 I will let the check bounce and deal with them later - I figure by that point the EPPs will almost be paid then I will have the 3 to deal with. I would suggest if you have any storefronts that are members of CFSA go in before the due date and they will split your pymts into 4 installments ( i am paying $228 for each of the 3 each pay day). They actually allowed me to "skip" oct 3 pay and start doing this on Oct 17 so they have some flexibility in setting this up but after that you have to pay each payday. Not sure about the online but maybe call them and see if you can set up a similar payment arrangement. Trying to keep up the other way is just too hard and in the end you will fall behind on things. I am actually a little behind on my car and house pymts but I figure I can catch up after teh PDLs are done.....hang in there...if you do this it will be painful but you will get out!
I will go ahead and post your state laws but we need more info i
I will go ahead and post your state laws but we need more info in order to help you. :)
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
Quote:
Wisconsin State Information Legal Status: Legal Citation: Wis. Stat. ???? 138.09 Loan Terms: Maximum Loan Amount: Not Specified Loan Term: Not Specified Maximum Finance Rate and Fees: No Limit Finance Charge for 14-day $100 loan: No Limit apr for 14-day $100 loan: No Limit Debt Limits: Maximum Number of Outstanding Loans at One Time: No Limit Rollovers Permitted: Not Specified Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: $15 NSF fee if check returned due to no account open at bank, insufficient funds or insufficient credit. Check presentment limit: two times. Criminal Action: Prohibited (per Wisconsin worthless check law, a check given to secure a loan isn't "worthless") Where to Complain, Get Information: Regulator: Wisconsin Department of Financial Institutions Address: Wisconsin Consumer Act Section, P.O. Box 8041 Madison WI 53708 Phone: (608) 261-9555 Fax: (608) 261-7200 Regulatory Contact: Paul Egide,, Consumer Act Director |
