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Debt Consolidation Forums Payday Loan help

Need Payday / Installment Loan Advice



Unregistered

Sub: Need Payday / Installment Loan Advice
Tue, 02/10/2012 12:20

I am new and joining this community in hopes that I may receive advice and be able to support others in their quests to eliminate debt.

I never wanted to utilize payday loans, but due to various situations I had to and now it is just out of control. My bank is account is currently in the red from these loans and bank fees. My goal is to rid myself of these loans by December. I live in Texas and here are the loans I have:

1. Great Plains Lending
Amount Borrowed: $600.00
Payments made as of 09/30/12: $376.11 ($125.37 every two weeks)
I have used this tribal lender earlier in the year and since perusing the
forum, I have learned they are illegal. What do I need to do? What do I
need to send to them as I don't want them debiting my account any lon-
ger

2. Plain Green Loans
Amount Borrowed: $1,200.00
Payments made as of 09/30/12: $688.70 ($137.74 every two weeks)
I have used this tribal lender before earlier in the year. Now I know they
are illegal as well.

3. Shoreline Online
Amount Borrowed: $300.00
Payments made: $810.00 ($90 finance charge every two weeks)
I really need to make this one go away, it is a thorn. Are they legal?

4. Spot Loan
Amount Borrowed: $500.00
Payments made: $73.48 (to be paid every two weeks)
Is this one legal?

5. Check n Go (online) - $594.22 defaulted

6. Speedy Cash (online) - $631.36 defaulted

7. USA Web Cash
Amount Borrowed: $300.00
Payments made: $92.70 ($30.90 every week)

I can't pay all the lenders at one time any longer. I'm trying to get a part time job to pay this off. Any advice (nonjudgmental) is welcome.

Thank you



Article Rating: 
waffles
waffles


Posts: 1678
Credits: 30978.197782844

Sub: #1 Dear Spot Loan, I am not screwing around with you debating thisTue, 10/02/2012 - 12:20



Dear Spot Loan,

I am not screwing around with you debating this over email. Take the payments to return the principal or stick it.

Your friend,

Is my payday lender illegal in my state?

How to deal with illegal lenders, courtesy of OhioGal

How to write a proper debt validation request, courtesy of SOAPLADY

How to deal with a Collection agency contacting you for PDLs


Unregistered

Sub: #2 Spotloan's ResponseTue, 10/02/2012 - 08:46



Spotloan is not cooperating, what do I do next? They sent me this email response:

We recently received your email questioning the legality of loaning in your state, revoking your prior ACH authorization and refusing to pay your installment loan like you promised to do when you agreed to the terms of the loan agreement. I would like to take a moment to address your concerns.

Spotloan is owned and governed by the Turtle Mountain Band of Chippewa Indians, a federally recognized Indian Tribe. As a tribal entity, we comply with applicable Tribal lending laws and federal laws that do not conflict with our Tribe???s sovereignty. Spotloan is not, however, required to obtain state lending licenses. When you took out the loan, you agreed in the terms of the loan agreement that the loan would be governed by applicable federal and Tribal law (not state law) and you continue to be obligated to repay your loan as you promised.

Spotloan has thoroughly researched this area and there is no federal law that requires a tribal lending authority to be licensed in the state of Texas. Spotloan is not a payday lender.

On August 23, 2012, you received $500 in your bank account from Spotloan in exchange for your promise to repay that amount plus interest over your chosen loan term of 8 months. When you took out the loan, you received and agreed to the complete terms and conditions of the loan, including a payment schedule and breakdown of principal and interest. You also authorized us to auto-debit your account for your scheduled payments.

We understand that you have revoked your consent to ACH withdrawals and you are absolutely permitted to do this. We have noted your revocation of consent in your file and we will not attempt to auto-debit your account again. You are, however, still obligated to repay your loan according to the loan terms. This means you are legally obligated to repay both principal and interest.

Since you have opted to no longer permit ACH withdrawals, you may make your payments using a credit or debit card, a prepaid debit card, or by mailing us a money order. To make a credit, debit or pre-paid card payment, please call Julie B at 888-681-6811. To make a payment by money order, please mail it to:


Spotloan

P.O. Box 720

Belcourt, ND 58316.

We expect you to live up to your promise to repay your loan as agreed. Please contact your account manager, (removed name) at (removed phone number) or by e-mail at (removed email) to resolve this account balance and pay back the loan because when you miss a payment, interest continues to accrue and the loan balance gets bigger (which is not in your best interests - or ours!).

Spotloan is committed to offering financial transparency and helping hard working Americans meet their financial obligations. We would like to resolve this issue and are willing to work with you. Please contact (removed name) today to get your loan back on track.


Unregistered

Sub: #3 I sent my email to Plain Green Loans, but they haven't respondedMon, 10/01/2012 - 19:37



I sent my email to Plain Green Loans, but they haven't responded. When I log into my account, this message shows up. What does it mean and what are my next steps? Same message from Great Plains Lending. Should I just submit money orders certified mail and call it a day?

Your PlainGreenLoans account is currently flagged as having an invalid bank account number. Without a valid bank account number, we are unable to electronically process your payments or refinance.

Please contact Account Services toll free at (866) 614-7103 to update your bank information and have this flag removed or to make other payment arrangements.

Once we have updated your PlainGreenLoans account information you can return here and process a payment.

Also, Shoreline sent me a snarky response. They said they marked my account paid in full but they will not give me refund. I overpaid by $510. I want my money! That $510 can help me pay off Check n Go.


Unregistered

Sub: #4 Okay, I emailed my letters to both Plain Green Loans and Great PMon, 10/01/2012 - 03:40



Okay, I emailed my letters to both Plain Green Loans and Great Plains Lending. I hope it goes well. I'm really nervous about sending letter to Shoreline. Has anyone had any dealings with them - did they send you a refund and mark your account paid in full?


SOAPLADY
SOAPLADY


Debt Samaritan
Posts: 17124
Credits: 401875.79821716

Sub: #5 Quote:In my letter, should I request that they take that overpaSun, 09/30/2012 - 21:38



Quote:
In my letter, should I request that they take that overpayment and apply it to the principal of this loan? This would then make me morally obligated to pay about $12.32.


Dont request...demand. And make sure any payment is sent by money order only.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


Unregistered

Sub: #6 Thank you so much for the response, SOAPLADY! I just calculatSun, 09/30/2012 - 20:16



Thank you so much for the response, SOAPLADY!


I just calculated the loan I had with Great Plains Lending for the period of 3/22/12 thru 7/3/12 for $200.00 and I overpaid them $211.57. In my letter, should I request that they take that overpayment and apply it to the principal of this loan? This would then make me morally obligated to pay about $12.32.


SOAPLADY
SOAPLADY


Debt Samaritan
Posts: 17124
Credits: 401875.79821716

Sub: #7 1. Great Plains Lending ILLEGAL Amount Borrowed: $600.00 PaymenSun, 09/30/2012 - 19:51



1. Great Plains Lending ILLEGAL
Amount Borrowed: $600.00
Payments made as of 09/30/12: $376.11

2. Plain Green Loans ILLEGAL
Amount Borrowed: $1,200.00
Payments made as of 09/30/12: $688.70

3. Shoreline Online ILLEGAL TRIBAL....YOU HAVE OVERPAID
Amount Borrowed: $300.00
Payments made: $810.00

4. Spot Loan
Amount Borrowed: $500.00
Payments made: $73.48 (to be paid every two weeks)
Is this one legal? NOPE....ILLEGAL TRIBAL LOAN

5. Check n Go (online) - $594.22 defaulted LEGAL

6. Speedy Cash (online) - $631.36 defaulted LEGAL

7. USA Web Cash PRETTY SURE LEGAL

For your illegal loans you need to follow the link in my signature line for information on how to deal with them. Pay them back at your convenience and by money order only. Work on paying back your legal loans first..,.that and cleaning up your bank accountl
Amount Borrowed: $300.00
Payments made: $92.70 ($30.90 every week)

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


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