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I have about 7 payday loans, 3 of them are just fine, but 4 of them are horrible. I have been paying the fees on them over and over, which Arizona law says that legally they are only allowed to roll over the loan a total of 3 times. I have paid these loans back. I closed my account, but I am worried about the phone calls and legal actions. I want to pay them back but I feel I already have with all the fees I have paid.

Here are the loans

Big--loan amount $200. I have paid fees since March 2008, started at $80 ever pay check but lowered every month until it was $40. So I have more then paid it back

LoanShop--loan amount $300--i have been paying a $90 fee every payday since March 7th 2008

FTR--Loan was $200, I have been paying a $60 fee every payday since Dec 2007. no pay down option

247advances.com--loan amount $200-- i have been paying $74 every payday since March 2008--doesnt offer pay down

I know these companies are not following AZ laws, but I dont know what to do to get them taken care of. Do I sit back and wait for the calls to start since I already have closed my account and spoke to my bank. Who do I file complaints with my state or the state the loan company is in? There are a few that I dont even know where they are located. Can someone please give me any information they have on any of these companies.

Thank you!




You need to file complaints with your state's ag's office, ftc, bbb.

Someone from Arizonia or someone that is familiar with your state laws will be around to post them for you. I just wanted to make sure that your post was acknowledged.

Sub: #1 posted on Mon, 08/18/2008 - 16:47

ladybug ladybug

(Posts: 2757 | Credits: 282.44)

I created a template letter long ago. It is only old blog http://pollyandsay.yesdebtfree .org

Feel free to use that as a guide.

Sub: #2 posted on Mon, 08/18/2008 - 17:13

polly polly

(Posts: 1709 | Credits: 253.2)

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