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Help getting rid of payday loans

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Please help me with getting out of this payday loan trap. I've tried everything that I could to find a loan to wipe them out. Now I have ten of these blood-sucking loans. I can't pay my bills and I'm working overtime just to pay their financing fees not even reducing the actual amount. I know I've paid them ten fold. I have only one store front here in Tampa, FL all the other ones are internet. I feel so awful that I have got myself into this mess. Do debt consolidators help? Everytime I search the internet I get more of those offers instead of help.




WHEREAMI?
Posts: 5266
Credits: 73181.1

Sub: #1 Are these internet payday loans or storefront, or both? You need
Sun, 03/04/2007 - 10:43

Are these internet payday loans or storefront, or both? You need to close your account and open a new one to start. This will help you gain control back over your finances and you can start paying your basic living expenses (utilities, housing, food, etc..) Also what state are you in? If these are internet pdls then more than likely they are not licensed to loan in your state. You will need to file a complaint with your AG's office as well as the AG's office in the state where each company is located.




lrhall41
Posts: 245
Credits: 6478.7

Sub: #2 mkrewal I am from Tampa also and have experience with both inter
Sun, 03/04/2007 - 11:22

mkrewal I am from Tampa also and have experience with both internet and storefronts. You will find a lot of information on this website. Everybody is really helpful. FYI- in Florida PDLs are not allowed to rollover, so if you can figure out how much you have paid to each company, you might be able to call them back and start negotiating. I have heard here that peole are even getting refunds.




2nband

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Sub: #3 It will be ok. There is a lot of good information here on this
Sun, 03/04/2007 - 13:00

It will be ok. There is a lot of good information here on this site. Knowledge is your best weapon and this site is full of you and you will find that there at many of us that either are or have been in your same situation. Welcome and I wish you luck in your journey.




fedupinpa

Posts: 1512
Credits: 22475.25

Sub: #4 mkrewal Your first step is what brittany said, close your bank
Sun, 03/04/2007 - 14:12

mkrewal
Your first step is what brittany said, close your bank account and open a new one then at least you can regain control over your financial life, eat and pay your living expenses. I have compiled alot of good information in one spot for new people coming on to the forums. Just click the one stop shop in my signature, it will take you to my page, you can pull the information on letter templates to use and your state law information there. Please continue to use the forum, it is a good source of knowledge on how to deal with the individual companies.
what companies do you have loans with? you will need to get your state information, write down how much your loan was, how much you have paid, how much you should have paid according to your state, etc. You can use the templates on my page to address the issues in contacting them. So combine it with the forums to get the most benefit.
Hope this helps, please let me know if the page was beneficial or not? It is a work in progress. thanks




Unregistered

Sub: #5 payday loans
Sun, 03/04/2007 - 18:47

Thanks so very much for all of your kind support. I'm going to calculate the charges but I know I have paid at least double, if not triple the amount. I have Amscot (storefront), the rest are internet PDLs Cash Transfer Center, ePayday Loans, Paycheck Today, Little Loan Shoppe, Quick Cash/MTE, BIG, Cash Net USA, Payday Select, Payday Services.I appreciate all of your help because I have a 12 year old daughter and not able to provide her with even money for her lunch. What are these companies capable of doing to me? I will close my bank account tomorrow and stop my paycheck from direct deposit.




fedupinpa

Posts: 1512
Credits: 22475.25

Sub: #6 I know that dreadful useless feeling, been there and the pdl's d
Sun, 03/04/2007 - 19:09

I know that dreadful useless feeling, been there and the pdl's dont give a crap, but we do, hang in there and let us help you through it.




2nband

Posts: 2282
Credits: 46918.776020618

Sub: #7 There are plenty of people on this forum that can guide you thro
Mon, 03/05/2007 - 08:53

There are plenty of people on this forum that can guide you through what you need to do. Follow their advice and you should be able to get yourself back on track. Hang in there!!




Unregistered

Sub: #8 drowning in payday loans
Mon, 03/05/2007 - 12:44

Is there anyway to calculate the correct amount that I should have paid and what is the best way to inform them of my intentions? I contacted my bank and they won't let me close it, yet. I have stopped my direct deposit and I have a different bank account that my deposits will go. This is so frustrating but I'm going to get started after I get off of work. I'm still working the 12 hour shifts. Should I send both letters Listed on one stop shop) to each one of them?




goudah2424

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Credits: 122486.2

Sub: #9 Yes, there is a way to calculate the interest you should legally
Mon, 03/05/2007 - 13:18

Yes, there is a way to calculate the interest you should legally have to pay . . . . You are in Florida, right? If you list the amounts borrowed/paid back for each company I can help you calculate . . .




fedupinpa

Posts: 1512
Credits: 22475.25

Sub: #10 Merita, You will definately want to send the revocation letters
Mon, 03/05/2007 - 15:02

Merita,
You will definately want to send the revocation letters for wage assignment and for ACH so they quit debiting your checking and don't debit your paycheck, they will try.

In the case of the refund, do your math, Looks like goudah has offered to help you, then send the request for refund. Plug in all your state information, I used Pa in my examples because I am from Pa. You can send these email, fax, snail mail, whatever suits you.

Hope this helps, we will walk you through the process.




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