Help me get out of these PayDay Loans! Please

The laws in Wisconsin do not seem to be too consumer friendly when it comes to payday loans..I am listing the laws here for you and hopefully someone from Wisc. or who understands the law better will be here soon...can you tell us how much each loan was for and how much you have paid on the fee's and all so far??

your state info here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I live in Wisconsin. I've dealt with CashNetUsa, who are licensed in WI, and Geneva Roth, who are unlicensed. Unfortunately, the best way to work with these is to close your bank account because even if you do stop payments, they will try multiple times to debit your account, thereby holding up any available funds you have until the stop payment procedure is processed. When they realize your account is closed, Cashnetusa will try to make you make 2-3 large payments, but I've been sending them money orders for $20-25, and they do cash them.

I would contact the DFI, BBB, and FTC about the other two, Geneva Roth and Interim Cash. This is useful information as well:

The Department of Financial Institutions (DFI) is a state agency that licenses and regulates companies that make consumer loans in Wisconsin where the interest rate is over 18% per annum. This includes the payday loan companies.

You can contact DFI Licensed Financial Services at 608-261-9555 and they also have an online dispute center. I had emailed, faxed and sent complaints to Geneva Roth and they haven't done much collection activity at all, and they never responded to the BBB either.

Also, I know in Wisconsin, the lending law are sketchy when it concerns internet payday lenders because if they solicit you, then they have to be licensed in WI. But if you search for them, or your information is sold as a lead to them, then they really don't have to abide by WI laws. HOWEVER, I had success with a couple internet lenders that claimed they got my info via "leads" and they marked me pif anyway, and one even issued a refund after I had submitted my complaints to the DFI and BBB. So definitely it is worth a shot.

Hi, I live in Texas and I have 4 payday loans and I feel like I can't get them paid down. Can you help?
The loans are with Payday Ok- 500.00
8/4/2007 ($75.71)
7/26/2007 ($91.79)
7/13/2007 ($125.00)
Payday One-500.00 Loan
Paid 78.00
Authorized Payday-300.00
Paid-90.00 Refinance fee each 2 weeks
Clearwater Loan-150.00
Paid 45.00 Each 2 week loan

joshua, Wisconsin pdl laws BITE! Excuse me for being blunt, but, my gosh, everything says "not specified". I'm amazed you knew what the heck to do! I have to have everything spelled out for me. Your pdl law is sooooooo vague. What does it mean? That the lenders have to be licensed in their own state, like some other states? Just trying to gain knowlege here! :D

Here's what I got:
CashNet USA - $800.00 - I've paid $540.00
Interim Cash - $285 - I've paid $455.00
Geneva-Roth - $300.00 - I've paid $ 360.00

msgooch, I don't think I like WI pdl law! Pay attention to the above post by joshua, who also resides in WI. Apparently Cash Net is licensed, so you'll have to deal with them. Make payment arrangement? You haven't even paid the principle on that one. Geneva Roth, according to joshua is not licensed. And from what I've read, they're kind of ugly to deal with. And I checked and didn't see Interim listed as licensed in WI, unless I missed something. But, WI law states "no limit" to so many things like "fees", ect. Totally loses me! They're kind of saying pdl's can do whatever they want, in my opinion! I don't like that! If I were you, I would send joshua a pm (click on the pm button under joshuas post and it'll send joshua a direct message) and ask what you should do regarding the unlicensed ones. Joshua also posted regarding your bank account. Please pm joshua and see how you can go about doing everything and getting these pdl's straightened out in your state. Joshua has been there and dealt with them. It's best to get the advice from someone in your state, who understands the law, and also has dealt with the same companies.

Yeah, WI laws suck. Puddlejumper is also another WI resident who has been through this mess. I think she has a contact person at the WI DFI that maybe she can post or PM you too.

WI has no limits on anything. You need to close that bank account asap. Here is a thread with some information you need to know before you close your bank account:

http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please read that before you go to the bank.

Since Cash Net USA is a legally operating company, you should see if you can make some sort of affordable payment arrangements with them. Other members here have said that they can be very difficult, but that if you just send them whatever you can every month they will cash it.

goudah, WI has no limits on anything? Does this basically mean that a WI resident would have to abide by the state law the pdl is located in? If that is the case, what if the pdl is not licensed in their own state?

What it means is that a legally operating company in WI can charge whatever it wants to, rollover as many times as it wants to, etc.

For internet companies it depends. If the company solicits you they have to be licensed by WI and follow WI "laws". But if you go to them, or your lead is sold to them, they would only have to be licensed by another state, and would be able to follow those laws. Not like it would matter, because WI has such lax laws anyways. The pdl doesn't have to be licensed in the state they are located in, just any state.

If they are not licensed anywhere then they are operating illegally. They must have a license from a US state.