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Payday Loan Debt Consolidation

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Hello, I have about 6 payday loans (online and locally) that are almost all in default. Some are threatening garnishment and others are harrassing me at work and home. I don't know where to start to dig myself out of this hole I have dug for myself.
I am worried everymonth if I will be able to pay rent and basic expenses. I need help and quick!




Hello and Welcome to the forums. What state are you in? What are the online companies? Give us a little info and see if any one can help. KYSIDE38

Sub: #1 posted on Tue, 11/28/2006 - 08:48

KYSIDE38 KYSIDE38

(Posts: 2478 | Credits: 398.52)

Colorado

Sub: #2 posted on Tue, 11/28/2006 - 08:51

skamperdan skamperdan

(Posts: 9 | Credits: 0.45)

Online
Cashnetusa - $700.00
Paydayavenue - $575.00
Oneclickcash - $575.00
Local
Checkmate - $555.00
Money Tree 0 $350.00

Sub: #3 posted on Tue, 11/28/2006 - 09:24

skamperdan skamperdan

(Posts: 9 | Credits: 0.45)

Colorado requires licensing. Check to see if your internet lenders are licensed. CO sued and settled successfully with a unlicensed lender.

CO has a 20% cap interest on the first 300, and 7.5% on the excess.

Sub: #4 posted on Tue, 11/28/2006 - 09:29

polly polly

(Posts: 1709 | Credits: 253.21)

Do these companies have to offer re-payment options? I've had a couple that said I had to pay w/in 45 days or they were going to garnish...

Sub: #5 posted on Tue, 11/28/2006 - 09:35

skamperdan skamperdan

(Posts: 9 | Credits: 0.45)

The storefronts can garnish you after they sue you and obtain a court order.

The internet guys may have tricked you into signing a wage assignment. You can send a letter revoking authorization.

Do they have to offer repayment options? No, but if they are not operating within the laws of your state and/or their state of incorporation, they will often settle with you.

Sub: #6 posted on Tue, 11/28/2006 - 09:40

polly polly

(Posts: 1709 | Credits: 253.21)

So I just did a chat w/ paydayavenue.com, this was the conversation

Quote:
Please wait for a site operator to respond.
Chat InformationYou are now chatting with 'Darryl'
Darryl: Good evening, thank you for visiting Customer Care. How may I help you?
beth armani: hello, just checking to see if you are licensed in colorado?
beth armani: hello?
Darryl: What do you mean by licensed?
beth armani: are you licensed to produce loans in Colorado?
Darryl: Yes, Ms. Armani, we are able to produce loans in Colorado.
Darryl: May I have your first and last name along with your social security number please?
beth armani: that's all I needed to know... thanks!
Darryl: Thank you for chatting with us. We look forward to assisting you in the near future.
Chat InformationChat session has been terminated by the site operator.

Sub: #7 posted on Tue, 11/28/2006 - 09:45

skamperdan skamperdan

(Posts: 9 | Credits: 0.45)

Do you know of a good debt consolidation company that works w/ payday loans?

Sub: #8 posted on Tue, 11/28/2006 - 09:47

skamperdan skamperdan

(Posts: 9 | Credits: 0.45)

Ahhh that sounds like Sonic....they are bad news. They operate under a few different names. Their main offices are in Canada.

Sub: #9 posted on Tue, 11/28/2006 - 09:48

polly polly

(Posts: 1709 | Credits: 253.21)

How much have you paid the internet guys in principal & interest?
You can typically settle with them. Langhorne seems to be pleasing people in the settlement process though.

The storefront guys you will want to work out some sort of arrangements.

Sub: #10 posted on Tue, 11/28/2006 - 09:50

polly polly

(Posts: 1709 | Credits: 253.21)

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