Advice on payday loan situation

Hello and welcome to the forum. First I would suggest that you register with the website, this is a very helpful place and I have learned so much from everybody here. I to live in Wisconsin and I was batteling 15 PDL's, with only one being a storefront lender. When I registered with the site I received a phone call from a Debt managment company, but I decided to go with my own local company here in Wisconsin..it just felt more personal for me.

Are you dealing with Store-front or Online PDL's?

Could you tell us what lenders you are dealing with? Rest assured you are not alone. Have you checked to see if these places are licensed in Wisconsin? Most online lenders are not licensed.

Pink Lady and Tammy, thank you for responding. And, yes, I will have to register on the site.

Here are a list of my loans in reply to your post. ONLINE LOANS ARE:

ameriloan AMERILOAN
UNITEDCASHLOANS-UNITEDCASH
NETCASHUSA
PaydayMax

STORE FRONT IN MADISON, WISCONSIN:

Check into Cash - Fish Hatchery Road, Madison, WI
Check and Cash - Park Street, Madison, WI

On the online loans, does it matter what state you live in when you get them? Also, I feel very, very foolish to let myself get into this situation.

ameriloan should be in there one time. I cut and pasted from my bank statement. Oops.

ameriloan and United Cash Loans are located in Miami, Oklahoma and they are not licensed. Where you live in Wisconsin, and beings they are not licensed, they are violating the payday loan laws regarding licensing. How much did you borrow from each?

Now for Check into Cash, you need to take care of them first. They are licensed and they can take you to court to get their money. Contact them and explain your situation and set up arrangements. Remember, don't promise more than you can afford. There is no reason to feel foolish!! We all have been there and understand what you are going thru.

Also, I forgot to add that when dealing with ameriloan and United Cash Loans, be sure to let them know they are not licensed to lend. You have to be strong and firm against them. Don't let them sense fear. They thrive on that, and thats when they start their intimidation and threats. Like I said don't let them get the upper hand. United Cash Loans and Ameriloan will tell you that you have committed fraud, that you will be arrested. Please remember you can't be arrested for this and that you have not committed any type of fraud.

Tammy, (I'm in OH) I filed my complaint against them 2 weeks ago, not a peep from ameriloan since then. I refiled my complaint against them yesterday with the AGs office under all of their dba's. I'm just waiting for their threats because I'm thinking about taking them to court for my $530 refund in illegal charges. I know that nobody would show up, but hey they threaten it all the time don't they?

They sure do and its time for us to get what is rightfully ours that they stole by violating the laws. Doesn't Ohio have strict laws regarding pdls that are not licensed?

Yes, the AGs office sent all my complaints to the Commerce Dept/Div. of Financial Affairs, they started a file with my complaints and are going to work on getting laws passed for these internet pdls.

Hi Tammy,

In regards to contacting Check into Cash on my own, will they honestly let me pay monthly on the original amount loaned to me? Is that what you mean?

From your experience and what you've heard, if you make arrangements, will they still call and harrass?

Also, on the two you said are out of OK, do I need to send them a letter or call them? I just don't want harassing phone calls because there is enough stress right now between my husband and me. I will do what I have to, though. Worried about them calling my employer. I'm wanting to address it before it's in default. I'm worried about my bank account, too.

This is what I've borrowed
ameriloan AMERILOAN -300.00
UNITEDCASHLOANS-UNITEDCASH -300.00
NETCASHUSA -300/00
PaydayMax -500.00
Check into Cash 550.00
Check and Cash is probably down to 250 by now.

Also, is there any debt consolidation company that will deal with these, or no?

Thanks

You should register with this site ASAP so a counselor will call you. There are several consolidation companies that deal with payday loans. I live in Beloit, WI and I was going through a local agency that I found throught the nfcc.org website. It's called Consumer credit counseling Service and they also have a location in Madison. My counselor from this place said the majority of their customers are dealing with payday loans and they are very familar with the store front lenders in Wisconsin. I was dealing with The Cash Store in Wisconsin and they accepted my proposal with no problem. I do know that if you don't stick with you payment proposal that they will look to take further action. The Cash Store was going to take me to court and get judgement against me until I filed bankrupt.

Okay. I'll register. Thanks. Can you give me an idea on what your proposal was. I've used the Cash Store many times, but have managed to pay them off.

Thanks,

My counselor at the debt management program came up with the proposal. When I first met with her she did this financial evaluation. They took a look at all your monthly bills and expenses, then they compare it to your income. She will then decide what you can afford to pay monthly to each creditor. She set it up for me to have my PDL's paid off in 10 months, just to get those out of the way. After she comes up with the amounts she prepares propsals and sends them to the creditors. With this company you can add and drop creditors anytime through the program, they are a non for profit company so they don't have crazy fees or anything like that. I did however prepare letters to send out to my PDL's prior to my counselor doing so, just informing them that I was having financial difficulties and that I have met with a credit counselor who will be sending them payment proposals. I also included in these letters that I was revoking authorization to make any further debits from my checking account. I faxed these letters and I also sent them certified mail. I didn't close my second checking account, I just had my bank put one big debit block on my account.

Okay. Thank you so much. I've got to figure out how to register here. After you sent your letters, did you get harrassing phone calls; two, how long did it take? And I'm excited because I've been reading that payday loans are really not unsecured loans, meaning you can't consolidate.

Thanks again.

Some of them contacted me and some didn't. I just made sure I made contact with them first. I also included in my letters what number I could be reached at for any questions. I had about 4 of them harrassing me but they were none of the ones you are dealing with. It was actullay the horrible collection agency they were sent to. You may want to do a search on this site with the online PDL's to see how others have had to deal with them. Some people have had problems with ameriloan and United Cash Loans, but I didn't. The only problem I had with them is after there ACH transaction was rejected from my bank they tried to make a paper check for a huge amount and pass through without my signature on it. That was both Ameriloan and United Cash Loans. They are somehow affiliated because they have the same address.

Your welcome, and your right..you are not alone. I felt the same way when I received a call back in May. I was in tears and literally shaking. I did a search and came across this website and I felt so much better within hours. Again, welcome to the site. I now enjoy helping others out and pointing them in the right direction, because I've been there and I know exactly how people feel.

Actually I'm surprised that this site advertises pdl's (at the top of the screen). i guess they can help but not someone like me who just got out of control. I just joined and Drowning In Debt - you sound like me. Not that it's a good thing but it's nice to know that I'm not alone and I will be on this site day and night. I'm thanking you all in advance (PinkLady, Tammy, Drowning In Debt, and everyone else for being here and sharing. I may sound a little overboard but you don't know how much better I feel since I joined this site today. How did I get here? I got a call from Bass & Associates and was in tears at the thought of legal proceedings or being served, or having affidavits sent to the county about me as the lady said because I have committed a crime - fraud, stealing - I borrowed with NO intentions of paying back (not true at all). The skeptic that I am (even though I knew I owed Arrowhead money), I Googled the # 877-281-2224 and came to this forum. Even though I'm not out of the woods, this is a great start and a great place for support.

look.n.4hope,

There will be no legal proceedings nor will you be served. No affidavids will be sent to the county you live in. No crime has been committed. This company is fraudantly using another company name. Bass & Associates are really Bass Prelitigations and they are violating the fdcpa. You need to file a complaint with the AG in Florida in regards to the phone call. Be sure in the complaint to give the lady's name, and what she said. There is no debtors jail. If there was, alot of us that had pdls would be behind bars. You have nothing to worry about. What pdls do you have?

Lookin4hope & Drownin in debt, you both came to the right place for support and help with your situations. I joined and was at the end of my rope, I didn't think I would be able to hold on much longer without telling someone the trouble I was in. I found this place and the supportive people here who have been where I am/was and understand without being judgemental while at the same time providing solid information. I'll tell you that overwhelming feeling didn't immediately vanish but it sure did diminsh knowing that I'm not the only one. Keep coming back and share your stories, you never know who may be affected by you or your story. Pauli'sGirl

Lookin4Hope and Drowning in Debt, Welcome!!!!We are glad to have you. Hope you find lots of help here. This site has been such a lifesaver to me. I am now payday loan FREE. I only try to stay on here to help as many people as I can. In the process I have made some wonderful and caring friends. Any thing I can do let me know. Good Luck KYSIDE38

Hi. I wanted to say hi and I'm glad I'm not alone in debtville, USA. Tammy, thanks for all your info. I'm going to get my pda's together, medical bills, etc, and make an appointment with CCS.

I was wondering about my bank account. I am going today to open a new account. I don't know if they can tell my other account is negative. Does anyone know? Also, I'm afraid to put a stop debit on my account with my current bank because I'm afraid my husband, who works in that building, will find out. Crazy as it is, I have not shared this dilemma with him and that is what's making me so much more stressed.

Tammy, you said when you wrote your letters that you gave them a number where you could be reached. If I give them my cell, do you think they will still call the house from your experience?

Also, how long did it take from the time you talked to the counselor until they got proposals, and also the time in between there when they stopped calling?

Thanks for all your help. This is drowning in debt in case it's not going to show, because it doesn't have a place to put my name for some reason.

Okay, well now my name is coming up instead of Drowning in Debt. I'll have to change it. Also not sure why I put pda's instead of pdl's. I can't even concentrate.

Okay. Now I'm in tune with the name change, et cetera.

They will any number they can get their hands on. If you give them you cell number, they will call it continously. I would suggest telling them to communicate only through USPS. Just remember you are not alone and we are here to help you get through this. Be firm and be strong and let them know you are not intimidated by them.

Now if you close your account and open a new one at the bank, they will know you are in the negative. I have heard of the banks not closing the account til the negative balance was takin care of. They can put a deposit only on your account until the negative is taken care of, but then if you have anything deposited, it will go toward the balance. Do not give anyone your new account number. No matter how much they demand, never give it out.

The new bank account is in the town I live in at a different bank. Do you still believe they will know the other account is negative if it's a different bank? I don't know.

Also, maybe I should wait until I clear up the negative balance before I open the new account at a different bank. I was going to switch my direct deposit to this new bank in hopes to not have them debit my current one while I'm so negative.

hello I am from new york and I have three outstanding payday loans and I am not able to pay them.. they are
National Money Store
Fast Cash
Cash Advance

do you know if they do consolidation?

DROWNINGINDEBT,

Where you have went to a different bank, they won't know about the negative. I do know that some banks have started pulling chex systems to see your banking history and as long as it is not listed, you will have no problem opening a new one.

sophia03,

Where you live in the state of New York, you are aware that they are illegal. Have you paid back what you borrowed? If so, you need to inform them that you have paid the principal back and you are paying no more and let them know that pdls are illegal in NY. Also, if they give you any trouble, contact the AG of New York and file a complaint. New York doesn't take it lying down their residence of the state are being screwed over by the pdls.

Tammy's right. I have been placed in chex system and it is difficult to get an account for five years, but I went to my credit union and their rules are different, as long as you don't have anything within the past 12 months then you can open an account. And if you are in the negative and you have a direct deposit you won't see your paycheck until they get all of your paycheck each payday. That will leave you with nothing to survive on. It may be necessary to switch your direct deposit to the new bank and make arrangements to payoff your negative balance with the other bank. And doesn't a bank charge a daily fee that you remain in the negative for a certain amount of time?

Steelers1,

You are right. Some banks will charge interest on a negative account til it is paid. I have heard of banks sending the accounts to collections and some have even went to court over it. The best thing that can be done is to talk to the bank, explain the situation and set up reasonable arrangements. Remember, do not commit to more than you can afford to pay and keep the payments consistent.

I learned that lesson. I was broken into and they cleaned out my account, were able to go fill up at the gas station, shop at WalMart and Meijers all before I woke up and realized what had happened. That was 3 years ago. My bank didn't care that this had ocurred. I had written checks for my bills, groceries,etc...And those all bounced everywhere. I kept getting charged $5/day that I was in the negative and it was about 1 month later they stopped charging me and closed my account. This was my second account that was screwed over with the same bank I had previously got cleaned out of by my ex-husband. Live and learn.

I haven't paid back anything but the finance fee and I can't continue to keep paying it

Hi, all. I appreciate all the info on my bank account. What I have do so far is on Friday, I went to my bank and closed my account and they opened me up a new one. I have a positive balance - barely.

Anyway, the next step is to contact the credit management place tomorrow as today I was totally busy on the job. Then I am going to call all the places including my storefrons, six altogether, and see about working out an arrangement. Then my credit counselor will follow up to make it solid, I hope. I am really worried, but feel so much better with all of y'all's help and guidance. Y'all are the freakin' bomb. That's all I can say. I just wish I could meet every single one of y'all. I'll keep ya updated. I'm hoping to nip it in the bud before it bites me in the behind, ha. Anyway, if I end up getting on a payment plan and life works out, I'm going to be on this site supporting people like I've been supported. Thanks again, and I'll post again tomorrow night. Hey, I have to remember, they can't take away your birthday. And guess what? Tomorrow is my birthday. Really.

Thanks again

P.S. I hope I don't end up divorced.

I must start proofing my posts.

Does anyone have T & C's number or should I go with a local company like Pink Lady suggested? I've read somewhat about T & C and they seem like they're too busy these days.
Thanks

Also, Sofia03, I'm with you on not being able to pay anymore. I'm new to the sight. Happy Birthday. Mine's the 26th, too.

Happy birthday to youuuuu happy birthday to youuuuuuu!

Things will work out, it just will take some time. Come up with a plan and stick to it. Also what helped me was setting a goal--Such as I'm going to have these things paid off by "X" date..It gives you something to look forward to.

Eat some cake for me!!!!! I love birthday cake! :)

Drowining, HAPPY BIRTHDAY.

Since you have registered with this site, you will actually receive a phone call from a counselor representing a debt consolidation company. It may not necessaryly be T&C, but there are several other great companies. I received my phone call from CCCSA, but I chose not to go with them because I also met with the local company in my town and felt more comfortable dealing with them. I just found it easier to go with the local company because they were familar with the Wisconsin Store fronts and they knew all the Wisconsin laws and I loved the fact that I could meet face to face with my counselor. They were a non for profit organization and their fees were very minimal and not required if you couldn't afford it. I think My monthly payment was close to 400 a month and they only collected $22 from me a month for a fee.

Tammy,
I'm sorry. I've been away for a while. You asked me what pdls I have and they are (I don't have my sheets right in front of me and I don't remember the amounts):

Arrowhead Investments - Bass & Assoc. called and threatened with affadavits last week
Cash Today - I'm paying them off - actually owe $450; "settling" for $300; paid $150 on 9/25/06 and paying $150 on 10/10.

I had about 9 of them, thank goodness I worked with them and paid them off. Embarassingly, I think I may have another out there but I'm not sure and no one has contacted me. When I thought I'd stopped getting them, I got another. My bank account is negative now because they kept trying to take money out of my account. Silly me lost the paperwork to contact the lenders. I asked the bank to stop them and closed the account but they would because they said I had an agreement with the creditor/company and I needed to stop the debiting with them and couldn't close the account because it was negative and I had an overdraft on it that I need to pay off before closing. I opened another account anyway so the negative balance would stop eating my paycheck!!! So now I have another bill of $1000 for my bank. I tell ya, I am in such a bad way and it just seems to keep getting worse. I'm glad I found this site and once I've seen the light (out of debt, on my way out of debt), like Drowing In Debt said, I'll still be here trying to gain more knowledge and support others and you all do.

HAPPY BIRTHDAY Still Drowning and sofia03!!

Does anyone know if there is a way to find out any and/or all pdl companies that may have you as a customer or as owing?

How do you find out what online payday loan companies are registered in your state. I live in Rhode Island and I am not sure where to find this out.

Has anyone heard of DMB associates or had any dealings with them? I am thinking about working with them but was not sure if anyone has had any dealings.

Could someone please let me know what I should do about this little situation? I am really scared they are going to come and arrest me. I have 4 children.

Please tell us more about your situation so we can better assist you.

I received a phone call From someone named Ken Blake from this company, which after reading this site, I have found that is not their name. Anyway, he said that I had a PDL outstanding and he had a file on his desk stating that they were going to come to the town I live in and arrest me. I have 4 children and my husband and I don't know what to do. Is this true can they have someone come and arrest me and throw me in jail? He said that the bank was pursuing this after he told me the PDL company was pursuing this. He said that I could be arrested for band fraud, passing bad checks and such because when this company went to take the funds out it came back as NSF because I had the bank put a hold on my account. What do I need to do?

What state are you from? That is an illegal threat this person is making to get you to pay. You will not get arrested. Is this an internet pdl? Chances are they are not licensed to do business in your state, most of them are not. Find out your state's pdl laws, chances are you have already paid over the legal interest rate charges your state allows for small loans and the fact the company probably isn't licensed. You need to file a complaint with your AG's office and use the template letters on this site, inserting your state pdl laws then e-mail and mail them to the company. That is what many of us have done and are having success with these companies and stopping the illegal threats. You will not be arrested, most of us have heard that threat and we weren't arrested. You have the right to revoke any right a company has to ACH your account, that is a federal law.

I am from Tennessee. This is an internet PDL. I will find out my state's pdl laws and do what you have requested That I do. I will come back and let you know what is going on and keep you updated. Thank you so much for the advice