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Pay day loan problems. Please help!

Date: Sat, 08/11/2007 - 17:44

Submitted by anonymous
on Sat, 08/11/2007 - 17:44

Posts: 202330 Credits: [Donate]

Total Replies: 9

Pay day loan problems. Please help!


My hubby and I have 6 pay day loans. We had health problems with my daughter and was unable to pay rent and other bills, so we took out the payday loans. Now we cant pay them. The keep calling my husbands work, comming to the house, calling all day long, and we are now being told, that my husband will go to jail for check fraud. We have tried to work out payment arrangements, but they are still too high for us to pay on. I dont know what to do anymore. Somebody please give me some answers!


Deanna can you please tell us where you are located and then please list the following information:
Are these internet or store front loans? The amount borrowed from each, and the amount you have paid back so far...doesn't matter if they are fees or not just how much you have paid for each one....Then we can try to give you some ideas and direction.


lrhall41

Submitted by Morningstarr430 on Sat, 08/11/2007 - 18:55

( Posts: 2329 | Credits: )


Well I am in Colorado. They are all storefront stores. Honestly, I could not tell you how much I have paid in if you include fees. I know one loan that is only 250 I have paid at least over 350 in fees. AT LEAST. I will have to get all that info on Monday and post. Thanks for your response.


lrhall41

Submitted by anonymous on Sat, 08/11/2007 - 22:23

( Posts: 202330 | Credits: )


In the meantime I will post your state laws...store fronts have to be handled differently as they are legal in your state. You might also register and accepted the free call from the couseling service. There are also a couple of places that can run a debt settlement service for you also..I have heard that usually when you default the interest at least is stopped making it easier to pay off the balance. Good Luck...and please post any other questions you may have:

Quote:

Legal Status:
Legal

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 40 days
Maximum Finance Rate and Fees: 20%: $0-$300 + 7.5%: $301-$500
Finance Charge for 14-day $100 loan: $20
APR for 14-day $100 loan: 520%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: One (renewal)

Collection Limits:
Collection Fees: One $25 NSF fee; Court Costs; Reasonable Attorney's Fees not to exceed loan amount
Criminal Action: Prohibited (Unless the consumer's account was closed before the agreed upon negotiation date)


lrhall41

Submitted by Morningstarr430 on Sun, 08/12/2007 - 06:10

( Posts: 2329 | Credits: )


deanna - I already responded to your post under Pay Day Loan help. Apparently you posted under this forum and also the forum for pay day loan help. Please look under pay day loan help for your post and read. :D


lrhall41

Submitted by cannr on Sun, 08/12/2007 - 06:30

( Posts: 9317 | Credits: )


luke, how can you not love them??? :D


lrhall41

Submitted by cannr on Sun, 08/12/2007 - 06:35

( Posts: 9317 | Credits: )


No. I don't find that strange, actually! I wish you could have pets. But, love your stuffed one! He's your friend!


lrhall41

Submitted by cannr on Sun, 08/12/2007 - 07:00

( Posts: 9317 | Credits: )