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Debt Consolidation Forums Payday Loan help

What happens if you default on payday loans?


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Credits: 1087.8
Sub: What happens if you default on payday loans?
Thu, 04/09/2008 19:02

I currently have four payday loans and my bank account is negative $400 how can i stop this vicious cycle? one of the loans I have is with cashadvancenetwork, the ACH was returned unpaid because of NSF, but they keep sending it through Everyday! and every day its another $30 fee from my bank it never ends if I revoke ACH authorization,can they print a check on my behalf and submit it for payment? should i close my bank account? I also have payday loans with 500fastcash,unitedcashloans (all internet loans) and i have one with FASTCASH (storefront) i borrowed 500 and have paid 85 week for the past 3 months! i dont know what happens if i default with them because when i initally got the loan per their policy, i gave them 2 personal checks one for the loan amount and one for the finance fee in all they totaled about 800 can they do this? what was i thinking ?? i hope someone can answer some of my questions by the way i live in Texas what are the laws for these payday loan Co in my state?

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Posts: 15420
Credits: 135164.5791265

Sub: #1 umTue, 12/10/2013 - 05:38

if the only debt you have a problem with pdl debt then go to the sticky in SOAPLADY'S signature on dealing with illegal has the ACH revocation letter as well section E on revoking ACH' have to keep on nned to see a manager to get the ACH'S to summarize you don't need a counseling group for pdl's,or your can handle this yourself.

giving hope to the hopeless,help to the helpless,and hap to the hapless.


Sub: #2 pay day loan hellMon, 12/09/2013 - 19:28

Hi everyone,
This website is awesome and so informative. We have been drowning in pay day loans and have just had enough. It has been going on for a few years now. We recently moved from CA to OR. I was so sick and tired of all our pay day loans and barely scraping by, that when we moved we switched bank accts. and set up a new one. We emailed our old bank, b of a to block the eft's from coming out but they did not so we just keep getting dinged. We have missed two months of payments. We have decided to join a consumer debt counseling group, but haven't had the funds to pay them. My question is, what is the best choice to make for this mess? Thank you for reading.


Sub: #3 Default In TexasThu, 11/07/2013 - 20:45

Sorry, both of my loans are online loans with these Pdl's


Sub: #4 CashNetUSAFri, 10/25/2013 - 17:26

I had my bank put a hard block on the ACH withdrawl. I have paid almost 2000 on a 2200 loan. Should I send something to CashNet or just wait for the phone calls? I am in SC.


Debt Samaritan
Posts: 1426
Credits: 16849

Sub: #5 Report to your state's AG andFri, 10/25/2013 - 11:13

Report to your state's AG and the FTC.


Sub: #6 Arrow One LendingThu, 10/24/2013 - 12:43

Arrow One Lending ripped me off on a PDL. This company is not even a licensed PDL banker. What do I do?


Sub: #7 HelpThu, 09/26/2013 - 12:31

I have 4 online loans out. Risecredit acecashexpress checkngo and cashnetusa I am in ohio. I know I will have to pay them back but I can not keep going like this. What is the best action to take


Debt Samaritan
Posts: 17139
Credits: 454555.83410341

Sub: #8 REGISTER WITH THE FORUMS!!!!!Tue, 09/03/2013 - 10:50


They are a DE based lender and probably illegal. Use the link in my signature line for full information on how to deal with them.

How to Deal with Illegal Loans..OhioGal's Primer
PDL's are ILLEGAL in the following states...
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states


Sub: #9 Is Greensight Funds anTue, 09/03/2013 - 10:12

Is Greensight Funds an illegal PayDay Loan company? I live in South Carolina

Also, where can I find a template of what I can send to an illegal PDL Company regarding me not paying and/or paying only the principle owed?


Sub: #10 ThanksFri, 08/30/2013 - 10:23

Thanks for your reply. I just contacted them to get a mailing address to send a C and D to. The address they gave me though is to a UPS store in Colorado. When I asked what name I needed to put on this I was informed I didn't need to put a name that with just the address it would get to them. Do I need to call them back and get more information?


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