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I have taken out tons of payday loans in which to pay my bills. It was not for extra spending.. however, right now I dont have the funds to pay them back... my phone is getting blown up day and night and they are even calling my employer. How the heck do you get them to stop calling my work and my cell phone?

What options are out there for me? I did mostly online pdl and 2 storefront. total debts? No idea. but it's alot! Over 1k. :(
Im so embarassed please dont bash me.




Hi there and welcome, would you mind listing the names of these pdl's, amount borrowed, amount paid back so far, and which are Internet or store front? Thank you. :)

Sub: #1 posted on Tue, 08/26/2008 - 00:53

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.88)

Washington requires internet based pdl's to be licensed by your state.
You can check at the link below to see if they are licensed in your state, please be aware that some companies go by different names.
https://fortre ss.wa.gov/dfi/licquery/dfi/licquery/

Quote:
Washington State Information

Legal Status: Legal (Lender must have a small loan endorsement to their check casher license in order to make payday loans)

Citation:
Wash. Rev. Code Ann. ???? 31.45.010 et seq.

Loan Terms:
Maximum Loan Amount: $700
Loan Term: Max: 45 days
Maximum Finance Rate and Fees: 15%: first $500; 10%: remaining portion of the loan in excess of $500 up to the $700 maximum
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: A company cannot hold a check or checks in an aggregate face amount of more than $700 plus allowable fees from any one borrower at any one time.
Rollovers Permitted: None (cannot repay loan with proceeds of another)
Cooling-off Period:
Repayment Plan: A company and a borrower may voluntarily enter a payment plan at any time. A borrower, however, has a right to convert a small loan to a statutory payment plan after four successive loans and prior to default on the last loan.

Collection Limits:
Collection Fees: $25 NSF fee (one time per instrument); collection costs (excluding attorney's fees, interest and damages)
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Washington Department of Financial Institutions
Address: Division of Consumer Services, PO Box 41200 Olympia WA 98504
Phone: (360) 902-8700
Fax: (360) 725-7827

Sub: #2 posted on Tue, 08/26/2008 - 00:58

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.88)

Money tree 700, check into cash 500, cash net usa 350 , first bank of delaware 700, advance america 700.. and many more..

I would say about that.. I can't think of anymore plus Im embarass.

Sub: #3 posted on Tue, 08/26/2008 - 01:20

Unregistered


Well Candy you've come to the right place for help, please don't feel embarrassed, we understand how easy it is to fall into the payday trap, it's a vicious circle that seems not to have an end. Later, I will do some research on some of these companies to see if they're lending legally in your state, so please check back every now and then. Also, could you list how much you have actually paid these companies so far? Do you have your bank account secured? I think your first step is to take care of the store front loans as they are the ones most likely to take action against you first. Meanwhile, if you click on the link in one of my above posts you can search the data base to see if any of your pdl's are licensed to lend in Wa. :)

Sub: #4 posted on Tue, 08/26/2008 - 02:09

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.88)

Please provide all of the info that shazzers is asking for and please do not be embarrased. I have been there and so have many others here. We need to know how much you have paid on them and how much they were for. Read the article in my signature, escaping the payday loan trap. It is helpful also.

Sub: #5 posted on Tue, 08/26/2008 - 02:16

Frogpatch Frogpatch
Moderators Cum Industry Expert
(Posts: 5381 | Credits: 652.52)

Candy, as others have asked, are they storefront or internet? I am in washington and will gladly help

Sub: #6 posted on Tue, 08/26/2008 - 03:19

jj jj
Moderators
(Posts: 1057 | Credits: 107.78)

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