Need Help Badly from Payday Loan Nightmare!!!!!

janine - Post the loans so that it shows the loan amount (principle only) and then what you paid. What they "say" you owe is not actually true. So, put the amount borrowed (principle only) and how much you paid towards each one. Then we can get your state law and figure out how much you've probably overpaid. Or if you still owe anything. Because of the laws, you more than likely don't owe as much as you think you do. That's why we need to know how much you've paid on each one. Thanks!

Welcome to this forum. If you keep reading you can learn so much. Before you begin please read the sticky notes about closing your bank account...on the top of the first page of the forum. Now...are all of these internet payday loans? or storefronts? There is a big difference, Also can you please tell us how much you have paid on each one?? You may have to check through your bank statements to find out...and try not to get upset when you see what you may have given them. Then you can do a search for the Ca laws on lending...that will tell what you legally owe. Come back then and ask any questions you like...everyone here is very helpful and most of us have been in your shoes...

Welcome Janine77 - you've come to the right place for help. I'm fairly new to all this myself but I sure can relate to the trap you are in. I am up to 15 loans for all the same reasons. I've been working tons of Overtime to try and make enough for all the fees with something left for regular bills. Then one pay week I bounced a $50 dollar pay down to United Cash because all of the other fees had completely taken my entire paycheck. That was the moment I knew I couldn't do this anymore.
Someone with more experience will be by soon I'm sure but one thing that will help is to list what you have paid on all these loans not what you owe to pay them off. You will be surprised how much you've paid in fees against them - it's a real eye opener.

They are all online loans and I will look at my bank acct and see how much I have been paying. I have paid off the loans before and had to borrow the money right back like with CashNet USA.

Hey, I just posted my entire story on here tonight. All I can say is keep your head up. Listen to the people on the board. Make sure you are upfront with your family. It is just too hard to do this alone. I too was at a point my entire paycheck was gone the day it deposited. Once I stopped some of the transactions and actually got a check again was awesome. Good luck to you.

Guest, why not register?? Stick around for awhile...

janine, when you post all your loans and the amount paid, break down the ones you had a loan with and paid - include the amount you paid. If you've had 3 loans with one pdl, put all three separately and put what you borrowed and what you paid. Don't lump them all together. You may have overpaid on the ones that you paid off (I'm sure you did).

Well I looked up how much I have paid and here are the details.
CashNetUSA - $250 (owe 294.13)

I borrowed $250 on 7/7/07 and they make me pay back the loan in full for the amount of $294.13. So then I have to renew the loan after every payday.

United Cash Loans - $400 ($520)

I borrowed $400 on 5/1/07 and I have paid back $500 so far.

Cash Net 500/Payday - Loan Yes $300 (owe $390)

I borrowed $300 on 4/6/07 and I have paid $715 so far.

Tremont Financial - $500 (owe $650)

This is a new loan that I did last payday. I have paid $250 as of today. The last loan I had from them I borrowed $400 and I paid back $803.

FashCash/Payday Today - $300 (owe $390)

I borrowed $300 on 6/25/07 and I have paid back $180.

PayCheck Today - $400 (owe $520)

I have paid them $650 so far.

CashAdvance Now - $200 (owe $250)

I have paid them $350 so far.

Can someone please post the pdl state law for California?? I can not for the life of me find it.

I found it on 2 different sites so I will post both of them

Quote:

janie - Here is what kscornell posted in anther thread when I posted for help with CA law. She apparently is a good source for advice regarding CA!
Quoting:
I can also sum up in a nutshell the following:
No criminal prosecution for defaulting on a PDL
Legal interest rate is 15 percent.
Max PDL loan amount is $300
Voluntary repayment plan
No rollovers

This is California PDL law as I know it and have dealt with it personally--hope it helps!

Welcome janine77-you have found the best site of your life! I was extremely distressed when I found this place and everyone was so helpful. I started with 10 payday loans and am down to 3 left!!!!! You can do this with the support of everyone here. First thing you need to do is CLOSE YOUR BANK ACCOUNT! These people will not stop just because you ask them to, trust me. Ask questions, have faith and most of all get determined to WIN!

janine, if you still need help figuring out your next steps, please go ahead and post. We can help you.

Hello all,

I'm back. I have been so busy I haven't had a chance to read the replies. Well I closed my bank account and I do need advice on what to do next. So far no one has called me about owing the money but I'm sure iI will get harassing calls soon. Should I send them all letters or just call and try to make arrangements? I'm not sure what to even say. Can someone please help?

First off, which ones are legal to do business in your state? Have you checked to see? See if they are licensed in your state. I can tell by looking that I'm sure some of them are not licensed at all, but you need to check just to be positive. And just by glancing (not calculating) it looks like you've paid or overpaid some of these. Some it looks like you still owe. You got your bank account closed, so that's the first step in the right direction. Now, see if they are licensed to do business in your state. Then we can figure out what you've paid/overpaid and then work on sending out letters.

I am confused about CA law. Is it 15% per 31 days max or is it 15% per year max? What is the time period on the 15% maximum rate? If it is 15% per month then you are overcharged every pay period from CashNetUSA. I would also figure out how many times you paid them even though it????????s a new loan each time to determine if you pad back more than 250 in interest. You overpaid United Cash Loans. You way overpaid Cash Net 500. I would combine both loans from Tremont Financial and say you way overpaid them. You overpaid Paycheck today. You overpaid CashAdvanced Now. If the max rate is 15% per year then you way overpaid all of the above.

You probably only owe FastCash/Payday Today assuming they are legal in your state.

dollars, you go! :D Way to calculate! You're always such a great help to everyone here! I hope your post helps out the member!

Well I just got a call at work from Paycheck Today telling me they did not get there payment of $170 because my bank account is closed. They said I need to pay the amount. I told them I would call them back in the morning. They also sent me an email. I have no idea what to do. On a $400 loan I have already paid them $480 of finance charges I'm guessing. All I know is I have paid them $480 and I still owe the original amount which is $400 but to pay it off they want $520 (hence the $120 x 4=$480 charge). Help Help Help. I want to call them in the morning so they don't call my job again.

Send out our pdl letters and file those complaints. You do not have to call these people if you don't want to. You can tell them to contact you via email/USPS only. If you have an email address for them, I would email them and tell them not to contact you via telephone. They might try to continue to call you. Tell them you can not take calls at work and hang up. Honestly. They will contact you on your home phone or email eventually.

Where are the pdl letters? And I don't want to call them at all. When I email them what should I say? I need help, sorry.

Never be sorry! Never be afraid to ask questions! That's what we're here for! Please! Okay, pdl letters - you can use the links here on the site for example letters you can use to send to each pdl. Or you can type up your own and put it all together in one big letter. Whichever you prefer. I chose to do "one big letter". Basically, you state your "story". Tell them your loan amount (principle only), how much you've paid on it. State your state law regarding pdl's, state if you've overpaid/paid in full/still owe towards principle, revoke any further debit authorization from your bank account, revoke any wage assignment you may have signed. If you've overpaid, tell them you demand a refund. If you've paid your principle amount, demand a PIF letter, if you still owe towards your principle amount, tell them you will pay that amount ONLY. If they are illegal, tell them that also. Inform them that you will be filing complains with the government agencies. Also include in there (for your own peace of mind) that you revoke their privilidge of contacting you via telephone. Tell them to only contact you via email or USPS. You need to keep documentation of EVERTHING. I know this is a lot, so post with any questions! Don't be afraid to ask! We're here to help!

janine,

Do pay them anything. The max loann amount is $300. Stop paying the lenders who gave you more than $300, at least. Stop paying al of them and Send them a letter entitled "Revocation of Authorization to Debit Acount." There was no need to close your bank account. Tell them that you have paid them what you legally ow them and that's it.

Hello all,

I just logged on again today. I have been so busy at work. Well the latest with me is the pdl's have all been calling me at work wanting their money. I usually just tell them to either call me back at home or I will call them. I am planning on calling every one of them tomorrow afternoon when I have free time at work. Some know my bank account is closed and they want the new account number. I told them I don't have one. They all just keep asking for their money and its driving me crazy. I really need to do some researching tonight to find out how much I really have paid them all. I did not know CA had a $300 limit on loans.

There is absolutly a need to have closed your account. You did the right thing. You are on the road to pdl freedom!

If the pdl's actually stopped trying to debit when you tell them not to, then things would be a lot easier. Reality is they don't. The bank account has to be closed.

Well I called most of the pdl's and told them I was not going to pay them. I left messages for 3 of them and 2 of them I talked to. Of the 2 I talked to I think I owe CashNetUSA since they did the rules of CA law. I talked to CashNet500 and they are pissed since I told them I was not paying them. I told them my original loan was $200 and I have already paid them $350 back so I think I am paid in full and they owe me money. Well the girl I talked to was so made and yelled at me saying I am bouncing checks and I'm a fraud and she wants her money. then she hung up on me. I can say that all of them have been calling me at work and harassing me. I also get emails saying they are going to send me into collections if I don't pay them off by next month. Can they do that?

janine, if your pdl's are illegal, that's why they're screaming at you. They know they can't legally collect their money. And now they can't debit your account any longer. Too bad for them. You are correct in telling them you overpaid your loan. Do not let them scare you. If they do "send you to collections", it's almost always either an "in house" collections (them) or an illegal collection company. How else are they going to collect an illegal debt? They're not. If the continue to call you at work, try hard not to take the calls if at all possible. If you get stuck with them on the phone, tell them to only contact you via email or USPS and hang up. Each time they call, send them an email instructing them to only contact you via email or USPS - no telephone calls will be permitted. Do it every single time. Do not let these people scare you. They will use illegal tactics just to try to scare money out of you. Please, try not to take the calls at all if possible. Email them every time stating you will not speak with them on the telephone and you will only respond via email/USPS. Eventually they will tire of you and move on to the next person. Please don't be afraid. They all pull the same thing. And, if you're feeling really brave - ask them "Could you please tell me what name and license number your company is operating under?" That usually makes them hang up. Send them an email asking that question. It usually makes them go away for a little bit anyway.

Well I am new here as I just found this site last monday.

I will tell you to follow the advice from the experienced posters and stick to the law. My experiecne so far is that California scares some of these companies as they are pretty tight on the law and have gone after companies and charge 2500 per offense.

In a period of 7 days I have had 4 lenders send me PIF emails and stopped debiting. 1 was MTE and another SJM who I here are nightmares.

I have 2 other lenders pending but have blocked all activity from them with my bank. I have also filed fraud claims against starlight FS and AIP with my bank and they are going to at least try and recover the last 60 days of debits from them.

Hi. I have 8 PDLs so far, and I can't deal with this anymore. I've been paying every payment on time, but total amount doesn't go down!! I talked to Langhorne debt solutions in PA today, and they advised me to close or freeze my account. I did it today. Now I am wondering how this company will work for my case... They are in PA, I'm in California. Can anybody tell me if this company is good? I have PDL with CashnetUSA.com, Cash Central, Fastbucksnow, MTE, JD, Power Funding, 1800899cash.com, Cashtransfer.

california, you signed up with Langhorne already? You got your bank account closed? Did they assure you that it would not be "forced" open by any pdl debits? It takes a little bit of time for anything to "start rolling" when using a company to handle your pdl's, from what I've read. I've personally not used one. I chose the "do it yourself" route. However, I read good things about Langhorne. I'm just asking about your bank account because the pdl's may continue to try to hit it and I see a couple of illegal ones on your list. They will be the worst ones to deal with. So, just wanted to make sure your bank assured you that the account would not be forced open if any debits come strolling through. :D