My story about debts

dbaker6,

Thank you for sharing your story with us :) When I came here, I had way more than four internet loans. I really didn't know how many until I signed up with T & C and had to list them all out. It was a giant wake up call for me. I was in this trap for over two years and I am happy to be out of it. I had used store front lenders too but when I discovered internet ones, it seemed so much easier. I had used store front lenders years ago and paid them back and was done with it. I got caught up with it again a few years ago and didn't tell my husband until late last year. Now we can help each other with staying pdl free!

Now that you are a regular member of this site, you know exactly how you have to deal with the lenders. :) First find out if they are licensed in your state, because most of them are famous for charging illegal interest and fees. Then find the laws followed in your state and calculate the fees and interests on the principal amount. Call the lenders and make payment arrangements. If you find out that your state prohibits payday loans from internet loan companies, you are just required to pay back the amount you borrowed. Nothing more than that. Payday loans are toxic, just stay away from them. It will do good.

Thanks, you guys. Mishele, knowing that you were eventually able to get out of your PDL trap is a big encouragement to me. Right now, I am working as much overtime as I can. Unfortunately, towards the end of the year the work is very slow, so I'm hoping to get done with them as soon as I can.

PassionHunting, Thanks for the advice. The only PDL licensed in my state is CashNetUSA. They're not budging, though. They said the best they can do is three payments of $305 over the next three paydays, and there's no way I can do that. I noticed in one of the other posts there was a site of people dealing with this company, so I'm going to check that out. The other three were not licensed (ICS, XpressCash/DMS Marketing and National Opportunities/itsmypayday). I have already paid more than the principal in interest/fees on the the last two. ICS I have only paid half the principal in fees. I have already sent my template letters out, also stating that I revoke any wage assignments I may have previously agreed to and that they are only to contact me via US mail or e-mail. I'll let you guys know how everything turns out.

Once I get everything paid off, though, I'm going to try to save money (after spending hundreds of dollars on PDLs every month, it shouldn't be hard to save $100 a month). That way, if I do get in a bind, I won't need to borrow, just take out some of what I saved.

Thanks again.

Donna

I don't care if they are licensed in your state or not, they are clearly violating the law by making you pay back $915. How much was the original loan?

It was $800. I kind of got caught in a cycle with them, too. They don't have rollovers, so I would pay back the $800 plus the $95 interest and immediately take out another one in order to pay the rest of my bills. Unfortunately, I was paying $200 a month just to keep borrowing from them over and over again. The other $20 they said is from attempting to collect the check.

Well if they want you to pay it back then they will have to work with you. I would stand firm on what you can afford to pay them each paycheck and tell them that's the way it is, your way or the highway. If they want paid they will have to eventually settle for your payment plan.

Thanks, Steelers1. Do you think if I agreed to pay, but on my terms, that they would still take me to court to try to get it sooner and possibly try to get the court to garnish my wages?

Also, when I talked to CashNetUSA, they said if I couldn't agree to at least paying over three paychecks, that the interest and fees would continue to mount. But if I understand the Ohio laws correctly, they can't do that, can they?

I would check the thread out to get further information on dealings with this company. I am going to do a little research of my own on them. What state are they located out of?

If you got your letters out, then that is the right first step. :)

dbaker, if your talking about an internet pdl suing you I highly doubt they will take you to court, make them work on your terms. But if it is a storefront pdl, then they can and probably would take you to court.

Are you sure CashNetUSA is licensed in Ohio? When I checked, nothing came up for them. I also noticed they had an unsatisfactory record with the BBB.

I don't think they are Mishele, but when I took out a pdl with them on the internet they were quick to recite OH laws and tell me that they won't do roll overs with OH consumers, and I paid it off early and they charged me an $8 fee for a $200 loan. I'm guessing they already had a complaint or something against them, who knows.

What's their website address? This sounds like another company to me that I once dealt with.

Well, it does seem they are licensed in Ohio under Cash America Pawn and they state the Ohio laws on their website. I have to say that is actually kind of impressive to me that they are even following the laws.

It seems that they were bought out by another company or something like that. Have you contacted Dennis Williams to see if he can help you with this situation?

Mishele, I'll get the website address and pm it to you to see if it is the same company you are thinking of.

Hi. Sorry it's taken me so long to answer. I've been going between work and here, so I missed quite a few of your posts. To catch up, Mishele, CashNetUSA's internet address is cashnetusa.com. When I looked them up under CashNetUSA to see about their license, three came up. The first, like you said, was Cash America Pawn in Cincinnati, Ohio, the next was CashNetUSA Oh, Llc, out of Illinois, and the third came up as National Registered Agents in Marion, Ohio. I guess they've recently been acquired by a company by the name of Cash America International. Mishele, who is Dennis Williams?

Steelers1, CashNetUSA is an internet PDL.

I actually got a phone call for CashNetUSA tonight, asking again about payment arrangements. I told them the most I could afford was $75 a month. The girl I talked to said to go ahead and send it in, that it would show that I'm attempting to pay it and that might satisfy them but that she couldn't guarantee that I wouldn't get any more collection calls, so this person was more agreeable to talk to than the last one.

Thanks, you guys, for all your help. You're really terrific!

He is part of Lanhorne Law who is now helping with payment plans with payday lenders. AKA Marcia Brady's Lovechild or something like that. I'm glad that you were able to reach a reasonable payment plan with them. :)

Oh, okay. I went to his website. Sounds impressive. Yes, that was a relief being able to come to an agreement with them.

Dbaker,

Have you heard of Boardman Ohio?

Yes, my uncle lives there.

That's near Youngstown, isn't it?

Yes it is, I have family there myself. :)

That's about 45 minutes to an hour from where I'm at.

It's a small world after all :-)

yes, it is!