overwhelmed in payday loan debt

Welcome to the forum! If you entered all of your info. when you registered with this site, a debt counselor in your area should be contacting you shortly to discuss your situations and the options available.

While you're waiting to be contacted, if you could provide us with a bit more info on our payday loans, we can also try to help you out. Are your loans with online payday lenders or storefront? How much are the loans for, and how much have you paid in refinance fees up to this point? Lastly, what state are you in?

This info will help in finding out what your state laws are regarding payday loans and to determine whether or not the lenders you're dealing with are licensed in your state or not. When is your next payday?

I live in Vermont. they are all internet services(1)pdl is with fastcash (1) w/apple (1) w/ payday select (1) w/cashlinkusa and the one with cashlinkusa i never received an email with information on my payday loan and the number I have for them isnt working. I feel very stupid for the way I have gotten myself into this situation I should of known better. I always had a rule not to enter any personal info. about myself online. then I got desparate and started accepting these loans. my next pay day is 11/10. I believe i need to close my account before then and at least protect my name with my bank and try to contact these services in the near future to work out a payoff somehow. as of now until Jan. 07 my income has been cut in half and i just found out today that my boyfriend will be out of work with his back at least the next 2 months or more. and we are already behind on 2 car payments and rent before all of this mess i got into with the payday loans

In my opinion, your car and rent are far more important to keep current than your PDLs.

Jedi is right, Rent/mortgage, utilities, transportation, etc., come first. Here is some contact info. for the lenders you listed. You listed fastcash for one of them, is this USFASTCASH, or a different company...

Payday Select
Attn: Customer Support
2207 Concord Pike #607
Wilmington, DE 19803

Tel: (866) 554-5762 (Customer Support)
Tel: (866) 554-5763 (Past Due Accts.)
Fax: (866) 554-5764

APPLE Fast Cash Personal Loans
1010 Concord Avenue, Suite 204
Wilmington, DE 19802

Tel: (888) 309-FAST (3278)
Fax: (888) 663-0274

CashLink USA
3916 Juan Tabo Blvd
Albuquerque, NM 871111

Tel: 877.355.4207

Sorry, the other pdl co. is Payday Loan Services thank you. not fast cash.
Do you have any suggestions on how to deal with these companies since i am not able to pay them for 2 or 3 months. will they just keep adding all kinds of charges on to my bill? Are pay day loan debts handled like credit card debts?
thank you so much for all the help so far. I am so overwhelmed i am glad i found this site.

mlb--How long have you had these loans out? You may have overpaid. More than likely these companies are not even licensed.

Definately close your bank account and take your control back. Search these forums, and you'll get out of this mess soon enough.

payday services account i have had since 8/14,Apple fast cash since 10/02; payday select since 10/10 and cashlink usa since 10/17. Payday services took $90 every two weeks until 10/27 they started taking $140 ($90 finance charge and $50 paydown). Apple fast cash took $56 the first wk and then on 10/27 they took $72 ???. Payday Select and cash link usa are each taking almost $100 every two wks util 12 weeks are up and then they are going to take that plus $50 against the actual amount owed.

Tiffany99 sorry I replyed as a guest to your question about fast cash . the payday loan is not fast cash it is payday loan services.

I am so glad I found this site I am so overwhelmed this is already making feel a little human again. thank you everyone.

Do you have any ideas on how I could handle these companies since I am going to close my checking account???

this is mlb8717. everytime i send a reply . It wont let me put mlb8717 in the Your Name spot

Here is the info for Vermont payday loan laws. Looks like they are prohibited.

Legal Status: Prohibited

Citation:
Small loan act applies. Vt. Stat. Ann. tit. 9 ???? 41a

Small Loan Rate Cap
18% per year

I would try writing a letter to each company and advising that since taking a loan with them, you have found that payday loans are prohibited in the state of Vermont, and they are obviously in violation of the law. Advise that the interest rate they are charging on the loan is illegal in your state, as there is a small loan rate cap of 18% per year.

Include the above Vermont info in the letter and state that you are willing to work out payment arrangements to satisfy the legal amount you owe them. Deduct the amounts that you have already paid from the original loan amount, and split that up into however many payments you need to make to clear the balance. I stated in one of my letters that the legal amt. I owed was $245, and I could pay this off in 3 payments beginning on a certain date.

Email the letter as well as faxing it and mailing it via certified mail/return receipt requested, so you have proof that the letter was delivered and signed for.

Start sending the payments via money order on the date you promised to start.

from mlb8717
thank you so much tiffany99. now here is my next question. the interest rate cap confuses me.example: I have one loan of $500 do I add 18% (VT cap) = $590.00 total due ? Which I have paid $91.07. total due $498.93.
Sorry if I am really not getting it...

Guest, you are right. Balance owed would be $498.93

Earlier i was reading something in the forum and someone asked about the website here is your way out of payday loans. that is how i found debt consolidation care. when i clicked on that website i got here.