Help getting rid of payday loans

Are these internet payday loans or storefront, or both? You need to close your account and open a new one to start. This will help you gain control back over your finances and you can start paying your basic living expenses (utilities, housing, food, etc..) Also what state are you in? If these are internet pdls then more than likely they are not licensed to loan in your state. You will need to file a complaint with your AG's office as well as the AG's office in the state where each company is located.

mkrewal I am from Tampa also and have experience with both internet and storefronts. You will find a lot of information on this website. Everybody is really helpful. FYI- in Florida PDLs are not allowed to rollover, so if you can figure out how much you have paid to each company, you might be able to call them back and start negotiating. I have heard here that peole are even getting refunds.

It will be ok. There is a lot of good information here on this site. Knowledge is your best weapon and this site is full of you and you will find that there at many of us that either are or have been in your same situation. Welcome and I wish you luck in your journey.

mkrewal
Your first step is what brittany said, close your bank account and open a new one then at least you can regain control over your financial life, eat and pay your living expenses. I have compiled alot of good information in one spot for new people coming on to the forums. Just click the one stop shop in my signature, it will take you to my page, you can pull the information on letter templates to use and your state law information there. Please continue to use the forum, it is a good source of knowledge on how to deal with the individual companies.
what companies do you have loans with? you will need to get your state information, write down how much your loan was, how much you have paid, how much you should have paid according to your state, etc. You can use the templates on my page to address the issues in contacting them. So combine it with the forums to get the most benefit.
Hope this helps, please let me know if the page was beneficial or not? It is a work in progress. thanks

Thanks so very much for all of your kind support. I'm going to calculate the charges but I know I have paid at least double, if not triple the amount. I have Amscot (storefront), the rest are internet PDLs Cash Transfer Center, ePayday Loans, Paycheck Today, Little Loan Shoppe, Quick Cash/MTE, BIG, Cash Net USA, Payday Select, Payday Services.I appreciate all of your help because I have a 12 year old daughter and not able to provide her with even money for her lunch. What are these companies capable of doing to me? I will close my bank account tomorrow and stop my paycheck from direct deposit.

I know that dreadful useless feeling, been there and the pdl's dont give a crap, but we do, hang in there and let us help you through it.

There are plenty of people on this forum that can guide you through what you need to do. Follow their advice and you should be able to get yourself back on track. Hang in there!!

Is there anyway to calculate the correct amount that I should have paid and what is the best way to inform them of my intentions? I contacted my bank and they won't let me close it, yet. I have stopped my direct deposit and I have a different bank account that my deposits will go. This is so frustrating but I'm going to get started after I get off of work. I'm still working the 12 hour shifts. Should I send both letters Listed on one stop shop) to each one of them?

Yes, there is a way to calculate the interest you should legally have to pay . . . . You are in Florida, right? If you list the amounts borrowed/paid back for each company I can help you calculate . . .

Merita,
You will definately want to send the revocation letters for wage assignment and for ACH so they quit debiting your checking and don't debit your paycheck, they will try.

In the case of the refund, do your math, Looks like goudah has offered to help you, then send the request for refund. Plug in all your state information, I used Pa in my examples because I am from Pa. You can send these email, fax, snail mail, whatever suits you.

Hope this helps, we will walk you through the process.

thanks again I will send the information as soon as I get home. I dont understand why the links are not available here at my work thanks goodah and fedupinpa I appreciate all your help.

Stay in touch so we can help you through this whole process, it may become sticky and alot of the companies are not real cooperative, some will give you a bunch of crap, but we can help you deal with them, hang in there and keep us updated.

I sure will.. Thanks!!! I didn't want to get into this mess but I appreciate your support in helping me get out of this quick sand You are all so awesome!! I don't have much support here so you can see how awesome your messages are and how they bring me hope

Merita,

Welcome to the forums :-) Let me just say, there is a light at the end of the tunnel. Why won't your bank let you close your current account? This would be a big plus for you. The main one to focus on right now would be the storefront since they are more than likely licensed in your state. I've dealt with a few of your internet lenders in the past so feel free to ask any questions :-)

ok thanks! my bank won't let me close it because there appears to be a pending charge. I'll keep trying. So with the storefront one what should I do first. I don't have to worry about paying any of these until 3/16 because I am paid through until then

OMG I have so many loans& only one is paid off! I started the first one at Amscot (storefront) Tampa I think in 2004 and since then it increased from $200 -$500. The $500 was $551 every two weeks with a 24 hour cooling off period. Then the internet I started in October 2006, they are the evil ones. e-payday $300 paid one off ($800+)then a renewal on 02/16/07 for $400 =2 payments $120 @ = $240, cash express (platinumB services) $300 = final total $930.pd :( Cash Net USA $500 = $577.54pd, Paycheck Today $300 = $765+pd and renewal 3/2 $300 = $90,payday select $500 = $701.95, payday services $450 = $1190 pd(OMG), Little Loan Shoppe $300 = $715.00 pd, BIG Limited $200 = $585 pd, MTE/financial or Quick Cash $300 = $465. pd, Cash Transfer Center $800 (5 renewals)pay in full each pay period $1016 (5x)This is so unreal when you see it in black and white. I'm tired of running and I'm not going to pay anymore!!!I don't see the letter format to send for the stop of ACH withdrawals and the wage assignment.

Can anyone provide me with the form letter to have these companies stop ACH withdrawals? I saw on one stop shop but I don't know why I dont have access again. I listed the companies above. Thanks for all your help. I'm so stressed with this stuff

I too live in Florida and have a similar situation. I see that CTC is on your list. They WILL send a wage assignment to your place of employment. Get that revocation letter out to them immediately. I have their address in Malta if you need it. They have an address in the US but I think it is just a call center. Contact your payroll person and tell them they have no legal obligation to honor it and show them your revocation letter. In Florida a company cannot garnish your salary without your "written" permission. A digital signature is not valid. Once CTC fails at the assignment they should send you a settlement offer of about 60 percent like they did for me. Because they are not licensed they have no teeth. Cash Net USA is a legitimate company and will work with you. They are very understanding and easy to deal with. The laws in Florida to which all of these PDLs are bound whether they say so or not, do not permit rollovers and have a ten percent cap on interest. IF you have met that then you are PIF. Send all of them a copy of the validation letter found on this site under "our services" > "do it yourself". They are required to respond by the Fair Debt Collections Act. No response, no debt. You will find that the shady ones will not provide anything but hollow threats. Do not take them seriously. To quote Bob Parsons, "they can't eat you."

Quote:

I was told that any creditor has the responsibility to validate upon request under the FDCA. Only a fool would pay a bill just because someone says so. If a PDL says I owe them 650.00 when I borrowes 200.00 I have a right to know why. Right or wrong?

your state info here :)

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Yes, internet companies still have to follow the laws of your state. They will say they don't but they do. It says for your state that you could get into trouble for closing your account, but I would think that is more for people taking out a loan and closing the account immediatly. If you've rolled these loans over and over then I don't think you could get into trouble. But I would call your state's banking dept and AG's office and check that out with them first.

Fraud would be implied if you took out the loan and immediately closed the account.

The post from someone asking about Alabama laws and if they could still close their account disappeared . . . . .

Hi everyone! I am new to the forum. Express Cash was taking money from my checking account that was new and they should never had access to. I had also paid my loan in full with Payday Select after reading the information on this site and checking my state laws (Texas). I sent both the letter I found on here yesterday, April 12. I got responses today, April 13 saying the accounts were paid in full and closed out. I would like to say thank you for all the great information I found on this site, and I decided to join.

Thanks again! The great information I found here encouraged me to become a member.

now in the paydayloang trap i have 5 i live in nj can they garnish you paycheck? what letter i have to send thenm can anyone help me ? here thank you

now in the paydayloang trap i have 5 i live in nj can they garnish you paycheck? what letter i have to send thenm can anyone help me ? here thank you

Gio, you have quite a few threads running. I answered you , but ill try again., Pay day loans are NOT legal in New Jersey. In order for us to help you. please list
your lenders, how much borrowed, how much repaid to each. When we get this info we can help you.

Hi I live in Dallas,TX and I currently have 6 store front payday loans. Can they be consoildated?

Okay I have 3 payday loans from the Internet, currently. I have one that I am trying to pay down but they keep only debiting the finance charge of $75 next week will be the 4th time for a $250 loan. I cannot seem to get anyone by phone and I have emailed them as well. The 2 others I am currently trying to pay down both for $300 loans but it seems like to pay one off I have to renew the other it is becoming a vicious cycle I cannot seem to get out of. + BIG harassing me at work constantly for a loan I took out from what they say in 08/2007 for $250 which they are now saying and threatening me to pay over $1k which is a different amount every time I speak to them. I live in Oklahoma and if anyone can help or point me in the direction of figuring this mess out I would appreciate it. Also can some tell me where to find the laws pertaining to this as well as the letters you have spoken of for Oklahoma. Thanks!

Sorry I left out the names.
Tremont-financial $300 (to pay $150 on 11/14/2008, City View Cash $250 (which is the one I cannot seem to get a hold of & keeps debiting $75 from my account, & Loanshop $300 ( paid $150 on 10/31/2008 bal left $312) Then BIG which I have explained.
Thanks

Loan Shop is great and easy to work with. I just sent them my Cease and Decit letter via email and I just default this past Friday and I already have settled with them and have closed my account. I borrowered $200 from them and paid $180 on the account. They settled with me for the $20.00 that I can mail to them.

If your loan was for $300 how is it that you still owe $312 if you paid $150?

My original loan was $300 + a fee of $90 so I could only pay $150 which brought is down to $240 + a fee of $72. Where can I locate the Cease and Decit letters? Thanks

Besides the $150.00 had you previously paid anything on this loan? Have you closed your bank account? Are you in Texas?

My original post is under guest Amber (Storm) Sorry! A few posts up.
I have not paid anything else on it. I have not closed my account and I am in Oklahoma

I live in Kentucky and I have fallen under the payday loan trap. I was doing pretty good for awhile until I had to start getting a new loan to help pay my other bills. Here's my loan situation:
INTERNET LOANS/AMT FUNDED/FEE/AMT PAID DOWN:
Usfast cash/300/90/0
vc funding/250/75/30
paycheck today/300/90/0
instant cash usa/300/90/0
cash advance network/300/90/0
money & more/255/45/0
americash/400/100/0

I also have 2 store front loans that are working with me. I also have a loan with Thinkcash. I know theres not much I can do about that and it'll be paid off next month. I am concerened with the internet loans. I am at the point where I am unable to pay any other bills because I'm paying fees. What should I do? I was thinking of closing my bank acct. That would be a start I'm sure. Thanks for the help.

I have 7 pdl and it seem that I can't get out of it. I live in NJ one of them I will finish paying this month. I've been paying them since o8 I can't even pays bill because pretty much my whole check goes to paying this pdls

can someone sugget to me what I should do?

Are they internet?

Internet PDLs are prohibited in NJ.

Yes they are

So if they are prohibited what is my next step? I sent a letter to cease letter to my cash now, one click cash and then I'm going to the bank to close my account. What else is there to do? I'm feel like I'm drowning in these pdl please help

So if they are prohibited what is my next step? I sent a letter to cease letter to my cash now, one click cash and then I'm going to the bank to close my account. What else is there to do? I'm feel like I'm drowning in these pdl please help

I currently have five payday loans out United Cashh Loans, One Click Cash, Cash Net USA Capital Loans, Northstar Loans. I am currently behind on them and teo of them have gotten my account to an -454.00. What should i do?

I live in houston,texas...i have a loan for 900.00..with intrest i owe..1084.00 i have been paying on these loans since jan.advance america.
the other loan is for 525....w/ intrest 632.01@ check into cash. My job has cut back to bare miminum..i cant keep only paying intrest.i need help please

ive closed my account out and im working with some of my internet pdl some wont work with should i just not pay them can they do anything to me if i dont pay them.

To those of you in Texas, there are also lenders in your state who are CSO's and NOT payday lenders, the pdl laws would not apply to the CSO's, they are usually legal in what they charge.

First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it!

I too have gotten in over my head in payday loan debt. I have loans totalling over $5000 with 13 different internet companies. With the money from my paycheck I am not even able to pay the finance charge on all of them. My family has been helping me with bills, food, etc. I live in Pennsylvania. What are my options? I am afraid that if I close my bank accont they will garnish my wages from employment. Are they legally allowed to do this?

well im not sure if this will work but i will try....i need help with finding out how to pay my pdls. i have 6 of them from different stores andd i live in saint louis missouri. i have no clue what to do......its soooo depressing and im lost and alone......someone please help me

What is the state's AG office? I'm drowning in them and just closed my account

Anonymous,

Please supply the following information so that we can help you:
[INDENT]The state in which you reside
Name(s) of each lender
How much did you borrow from each lender?
How much have you been debited or paid thus far to each lender?
How were each of your loans obtained (internet or storefront)?

[/INDENT]Losnif, AG stands for Attorney General. You need to file complaints with your state's Attorney General's office.