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payday loan trouble in FL, what should I do?

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Hello everyone, unfortunately i found myself in the payday loan trap. I am currently trying to resolve issues with two companies. B.I.G and Cashnetusa. I have actually paid B.I.G over 600.00 on a 250.00 loan that i obtained in dec. of 2007. Last month i borrowed 600.00 from cashnet usa, which "was" registered as a cso until earlier this week when they informed me that i would not be able to get an extension because my state of FL "just" mandated a law that does not allow for rollovers. And then they proceeded to tell me that i would have to pay them 669.00 in FULL on tue. aug 5th 2008, I DEFINITELY CANNOT AFFORD THIS!!! So i decided to call since it has been my intention all along to pay them, to set up an affordable payment plan, well my plan was not good enough and they insisted on trying to force me into a payment plan that was way outside of my budget. Also, if they are starting to go by FL law now, it states that a florida resident can not borrow more than 500.00 and they let me borrow 600.00. I am just lost, should i just close my bank account? thanks in advance for everyone's help!




Hang in there! Someone with allot of knowledge will be here soon to help you. Take the advice of the good people on this site. They helped me in ways you can not imagine.

The one thing I will suggest is close you account NOW!!! There is an article on this site on how to do it and the warnings to watch for. Once you contact them they can and some will try to debit immediately since they know you can not pay, regardless if the money is there. I started with over nine PDL's in June and am now down to one and the storefronts. The advice works just follow it!

Sub: #1 posted on Sat, 08/02/2008 - 06:14

mjj0613 mjj0613

(Posts: 37 | Credits: 9.52)

I am in no way an expert on this subject but other's will be around to guide you, but I would think that your pdl's that you have already taken out would be grandfathered in so to speak under the old law. Other's will be along to advise you further and good luck.

Sub: #2 posted on Sat, 08/02/2008 - 09:20

ladybug ladybug

(Posts: 2757 | Credits: 282.44)

please read the article on the front page of this section about closing your account before doing so.

I don't know anything about the two PDLs but I've seen people discussing them here. Anyone know if theyr'e licensed anywhere>

Sub: #3 posted on Sat, 08/02/2008 - 09:24

jt jt

(Posts: 101 | Credits: 12.43)

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