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I currently have 7 payday loans right now. I need help with paying them off. I have other bills to pay and it's hard since i am the only one working a fulltime job in my house.




What state do you live in so we can post your pdl laws. Are these loans store fronts or internet or both? How much did you borrow and paid back. This will give us a good start on helping you.

Sub: #1 posted on Wed, 07/30/2008 - 22:29

ladybug ladybug

(Posts: 2757 | Credits: 282.45)

Also list the names of the companies so that we can search to see if they are legally operating in your state.

Sub: #2 posted on Wed, 07/30/2008 - 22:30

ladybug ladybug

(Posts: 2757 | Credits: 282.45)

I am in Virginia. the thing is I will pay them and then I take out another loan on the same day. I have 4 that are store fronts and 3 are internet.

Sub: #3 posted on Wed, 07/30/2008 - 22:32

sweet_ebony82 sweet_ebony82

(Posts: 4 | Credits: 0.76)

We need more information in order to help you, there is a way of getting out of this cycle, if you would like some advice, please list the information requested above and someone would be most hapy to assist you. :)

Quote:
Virginia State Information

Legal Status: Legal

Citation:
Va. Code Ann. ???? 6.1-444 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 7 days
Maximum Finance Rate and Fees: 15%
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: Not Specified
Rollovers Permitted: None (cannot refinance, renew, or extend)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $25 NSF fee; Court Costs; Reasonable Attorney's Fees (not to exceed $250)
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Virginia Bureau of Financial Institutions
Address: State Corporation Commission, 1300 East Main Street, Suite 800 Post Office Box 640 Richmond VA 23218
Phone: (804) 371-9657
Fax: (804) 371-9416
Regulatory Contact: Susan E. Hancock,, Deputy Commissioner, Consumer Finance


Sub: #4 posted on Wed, 07/30/2008 - 22:38

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

allied cash advance $400, ace cash express $390, check into cash $150, check n' go $405; internet sites are : payday loan yes $350, 1000 cash overnight $300 and EZ payday cash $250.

Sub: #5 posted on Wed, 07/30/2008 - 23:06

sweet_ebony82 sweet_ebony82

(Posts: 4 | Credits: 0.76)

Quote:
allied cash advance $400
ace cash express $390
check into cash $150
check n' go $405

internet sites are
payday loan yes $350
1000 cash overnight $300
EZ payday cash $250


I am assuming this is the amount you borrowed? Would you mind posting how much you have actually paid back? I can tell you right now that Payday Yes is illegal/unlicensed.

If you haven't defaulted on the store fronts yet, and they are members of the CFSA, you can ask for the EPP (Extended payment plan), that will allow you to pay these off in four equal payments on each payday. The Internet loans are a different story, depending on how much you have paid them and whether they are licensed to lend, we can then figure out what your best course of action is. :)

Sub: #6 posted on Wed, 07/30/2008 - 23:11

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

By the way, I am going to move this topic to the payday loan section so it will receive more attention. :D

Sub: #7 posted on Wed, 07/30/2008 - 23:12

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

i haven't begun to anyone of them back because I haven't had the money to do so. all i keep paying is the finance charges.

Sub: #8 posted on Wed, 07/30/2008 - 23:33

sweet_ebony82 sweet_ebony82

(Posts: 4 | Credits: 0.76)

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