need help or info on payday loans, have 7 combined

Welcome to the forum. Can you please give us a little more info??
State you live in?
Please list the name of the loans and tell us if they are store front or internet.
Also list how much the loan was for and how much has been paid out..not neccessarily just the fees but the amount given to the loan. Also on store fronts are they roll overs or re-loans.

dreamrob - as morningstarr stated - welcome! :D You're new, you'll learn a lot! As she stated, we'll need to know what state you reside in. That way we can look up your state pdl law. Also, break down your loans. List them by name, identify store front or internet, put the amount borrowed (principle only) and the amount paid back so far (total, don't break it down). We can help you. :D

ok we live in iowa
2 internet: paydayok-principal=500, 400 left
paydaymax-300, 300 left

5 storefront:
check into cash=500
wife check into cash=340
EZ money =500
wife EZ money =450
wife paydayexpress =172



need more info plz let me know.....ty

btw all storefronts are re-loans

OK..here are your laws for your state...can I ask...on your internet ones you list an amount as due: can you tell us how much has been taken out of your pay?? All monies paid even if it was listed as fee's...thanks...and no rollovers are allowed in your state so your store fronts are following the laws by making you pay it off and then re-loaning it to you. Store fronts have to be handled differently because they are legal.

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

ok paydayok was paid 293.93 so far for this loan period and paydaymax hasnt been paid anything yet, due to the new loan not being due till aug 31st.

and i read what you all were talking about the criminal charges stating unspecified and was wondering same thing myself, this might be helpful
There are also restrictions on collection in Iowa. Licensee may not use or threaten to use criminal process to collect a payday advance debt. Iowa Department of Justice Informal Advisory Opinion No. 87A dated February 18, 1999. ??????? Iowa????????s ???????mini-FDCPA??????? applies to first-party collection activity. ????357.7102 -????357.7103 of the Iowa Consumer Credit Code.

NOw look up your internet loans and see if they are licensed...probably not but you should check. You will have to call your store fronts to make arrangements with them before doing anything with your bank account. The internet ones you will be able to stop but not the SF.

dreamrob, when I posted the question regarding criminal action not specified, it was decided that the best thing for an individual to do is contact your state Department of Finance. They can clarify exactly what the law means in your state. Because each state is different. One member is in a state that says "unspecified", but yet could still close her bank account since it wasn't considered fraud. However, some states consider it "criminal" if you close your bank account while having checks out. Since you have store fronts, I would certainly try to contact your state DFI. I just emailed mine. I went to the website, found a contact, emailed my questions,and the next day had a response. Clealy stated. That was all I needed. See if you can go to your DFI website and email. Ask exactly what "unspecified" means in regards to criminal action if you have checks out and close your account. Just ask a "general" question. Don't go into detail. If you don't get an answer via email, call them. Someone will answer you. It will only take them two minutes. Most of the time they are referring to "fraud", but I'd rather be safe than sorry and hear it from the actual state DFI before I assumed anything.

also i read somewhere last night but cant find it again now that they can prosecute and possibly revoke a license

dreamrob, prosecute who? And revoke license of who? The illegal pdl's?

it said something about suspension or revoking the consumers drivers license and criminal charges, but i emailed the department of finance like you said to get the exact scoop. i'll let you know what the result was so you can alert other iowans if it arises again.....tyvm.....will be in touch

i have been thinking....lol i know thats dangerous, but what is the difference between internet payday loans and storefront ones other than the obvious like reloans instead of rollovers. how do you know if they are licensed in your state and why are they illegal cuz the paydaymax one said previously seems like a very high finance charge than the rest i have.

paydaymax says this in the first paragraph of their legal statement if it helps:

JURISDICTION. The transactions related to loans will be deemed to have taken place in the offices of PayDayMax.com Inc.???? and according to the laws of Grenada, regardless of where you may be viewing or accessing this site.

dreamrob, first off, I don't believe that about prosecution and revoking consumers drivers licenses. However, if you've got a call in to the state agency, keep us updated regarding their reply! Might prove to be very interesting. In regards to your pld paragraph. To hell with them! All the pdl's claim their state law applies. This particular pdl you're speaking of is actually located overseas on some island. I'm not lying. We looked them up the other day to find out where they hell they are. It's the biggest joke! They are illegal overseas pdl companies. What they put in the paragraph of "governing laws" is about as good as toilet paper. Sorry to be so blunt!

can you suggest a good company that combines payday loans into one so that they are not taking all of my money and the interest rates seems to continue to go up