help with payday loans
Date: Tue, 07/03/2007 - 11:04
help with payday loans
I am new to this forum, but I have been reading through a lot of the information. My husband and I have taken out 7 internet payday loans total. I have filed complaints with the Attorney General's office and the BBB on a few that are charging more interest than is allowed in the State of Oklahoma. Now, I need to close my bank account and stop all these ACH debits. We were going to try to pay off these loans, but it's eating up our paychecks. I could not find a letter to send to the payday companies requesting the ACH debits to stop. Can anyone help me?
Here is the link to Polly's first blog. Look to your right and y
Here is the link to Polly's first blog. Look to your right and you will find template letters to use. Tweek them to suit your situation. I know I used them, shortened them, leaving out the PA law section, it was a great resource in getting my letters put together and a great starting point.
http://pollyandsay.yesdebtfree.org/
Great advice from Steelers1 as always. You are off to a great
Great advice from Steelers1 as always.
You are off to a great start by closing that account. Then you can breathe. Also filing those complaints
Please tell us How much each loan was for and from which lender. Also how much you have paid each one so far. That way we can help you determine what you legally owe.
Pinkcowluva, you are going to feel so good after that account is
Pinkcowluva, you are going to feel so good after that account is closed! Congratulations on putting an end to the cycle for yourself. :-)
Thanks everyone. Here are the loans we have, and what we have p
Thanks everyone.
Here are the loans we have, and what we have paid so far:
PayDayOK - $500 principle. I don't know how much I have actually paid out..we often pay it down some, then refinance it back up. On average, I pay about $120 a month in interest. This has been open for a year.
PayDaySelect - $300, recently opened..paid $135 interest only.
United Cash Loans - $300, pay $90 each month, interest only. Paid $270 interest only to date **Filed complaint due to rollover laws and interest rates
PayDayOne - $500, pay about $65 each month, have made one interest only payment so far
Geneva Roth - $300, pay $90 every two weeks, interest only...have paid $90 **Filed complaint due to high interest rates
CMG Group - $300, pay $90 every two weeks, interest only...have paid $90 **Filed complaint due to high interest rates
MyCashNow - $420, pay about $60 interest every two weeks, in addition to $50 pay down. Have made 4 payments, one was a rollover. The principle is down to $270, but have paid over $430 in interest and principle to date **Filed complaint on this one
