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Established Contributor
Breakthecycle2
Posts: 786
Registered: ‎09-15-2008
0

Re: PayDay Loans--Help!

No you are not liable in any way shape or form, aside morally paying back the principle. Believe me, I was in the same position as all of you. I did MUCH research and I have cut ALL ties with these companies and CA. They have threatened me to know end. ALL false.

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sunshyne4u
Posts: 53
Registered: ‎07-22-2008
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Re: PayDay Loans--Help!

i live in VA and I have been a user of payday loans.  One suggestion:  If you really don't need the money, don't get it because they are highly addicted and that is when you will find yourself 3 -4 loans in debt.

 

Anyway, last Xmas was the last time I took out a pay day loan, two of them $500 each.  Of course it was the holidays and I couldn't pay it back.  So I ignored it for a little while a few weeks well into January.  So I mailed a money order for $75 to both PDL.  Then a few weeks later I mailed another $75.  A few weeks later I called and told them what I was doing.  Paying a little at a time.  Really what could they do but accept it?

 

I am still about $200 in debt, but I don't worry about them calling my job or my friends.  So try that if you can.  Just pay what you can.  I wouldn't ignore it because you really don't want them to take you to court.  

 

BTW my aunt works at one of these places and it has been times where she has gone to people's homes and jobs looking for money.  So  try to work out something with the PDL.  Always be nice and act as if you really need them to help you. Ask what they can do for you.   I know it sucks but sometimes you have to suck it up.

 

I haven't dealt with those out of the country.  I always went to Advance America and Check into Cash. 

Established Contributor
Breakthecycle2
Posts: 786
Registered: ‎09-15-2008
0

Re: PayDay Loans--Help!

If they are not legal, they cannot take you to court 95% on internet pay day loan companies are illegal to start with.


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New Contributor
kt_scarlett007
Posts: 63
Registered: ‎02-07-2008
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Re: PayDay Loans--Help!

Just an idea for everyone---I have filed complaints with the BBB online and also with my Attorney General's office in Colorado--  I think this is a good idea so we can stop this predatory lending the payday lenders are doing.  At least it's a start. 
Established Contributor
Breakthecycle2
Posts: 786
Registered: ‎09-15-2008
0

Re: PayDay Loans--Help!

Exactly. It won't do much, but the AG of Virginia has taken a personal stand against these idiots and has filed numerous lawsuits against some.

 

I cannot stress it enough, just pay back what you borrow and do not have any further contact with these people. If they are illegal and unlicensed, you are liable for NOTHING. They will trheaten you and tell you anything they can to get you to pay. DO NOT talk to them.


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New Visitor
beyondangry2
Posts: 2
Registered: ‎11-06-2008
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Re: PayDay Loans--Help!

Scum of the Earth??? I'll bet you didn't think that when you took out the loans! I think the root of predatory lending is really the Banks, that charge up to $50.00 for every bounced check or overdraft, even if you only were overdrawn by $2.00, because you forgot to log an ATM fee. Then they charge you about $5.00 for every day that you don't pay it back. A payday loan saved over $200.00 in overdraft charges, and only cost $45.00. Don't you think a little personal responsibility is in order here? Nobody twisted your arm to take out a ridiculous number of loans. I'm sure a contract was signed that clearly spelled out the fees. There was a clear free choice whether to use a payday loan or not. Call the lenders. Arrange for repayment. Don't let this go to collections. It will stay on your credit report for seven years. Try getting a job, car, cell phone, apartment, with a bad score. These days, even a score of 700 isn't enough to get you a good rate.
Moderator Emeritus
fused
Posts: 16,373
Registered: ‎03-12-2007
0

Re: PayDay Loans--Help!

[ Edited ]

beyondangry:

 

Please remember to be friendly and supportive when posting.

Message Edited by fused on 11-06-2008 01:35 PM
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All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Established Member
priest680
Posts: 13
Registered: ‎10-16-2008
0

Re: PayDay Loans--Help!

I did some research, because i had some pay day loans out with b.i.g int, and oneclickcash , and one other (i can't remember the name. the last straw with me is when I called to make other arrangements besides them raiding my checking account they basically told me to pay up or face criminal charges for passing a bad check. what they did not know is that i know the law like the back of my hand, and i knew enough to tell them to stick it because they loaned the money on a post dated check , and that more then likely the funds at the time would not be available to them until said date as written on the check long story short I defaulted on them, typed up a cease and dissist letter barring them from calling my place of employment and also notified my payroll department to not honor a wage assignment unless it is accompanied by a judgement from small claims court. I kew that i was filing chapter 7 and so I included them in my bankruptcy and they are discharged . i know that there will be some bashers on here that won't agree with my method but it was well within the letter of the law . besides that internet lenders if they are not licensed by your state to provide loans then they have no basis to collect on said loan.
Member
M43882
Posts: 9
Registered: ‎12-13-2008
0

Re: PayDay Loans--Help!

I've gotten myself into quite a mess with payday loans.  I live in PA & I'm just wondering if anyone knows if the following companies are legit.  Unfortunately I'm going to have to default on them & I'm not sure what will happen next, can they take me to court, garnish my wages, will my loans be sent to collection agencies or will there just be constant harrassing calls? 

 

500FastCash

USFastCash

Biggest Cash Payday

Payday Services

CASHBACK PAYDAY

Sagamore BB Proc

LOANSHOP/NOBLE

CENTRUION FUND LOAN

CashNetUSA

 

I'm planning on contacting my bank Monday to try & close my acct before my next due date of 12/26.

 

Thanks for any help & advise.

Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
0

Re: PayDay Loans--Help!

I would suggest you checking your state statutes by clicking the link in my signature titled "State Resources".

 

This is going to be your best source of information on how payday loans are regulated in your state and what they can/can't do.

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