i need help. i have all of theses pay day loans and i want to know how to pay trhem back. my credit is not good enough for a personal loan what can i do
If they are on you credit report then their contact infomation should be as well, just give them a call. If not, go to the place you got the loan from? Never had a payday loan, is there somthing im missing?
Pay day loans are irksome. I dont understand the reasoning behind opting for this filthy system of lending.
Missb291,
I would suggest you to do some serious calculations on how much you earn and how much you spend. I am sure once you save enough money you will be able to pay them back. Which state do you belong to? Are PDL's legal there? Are these online PDL's or store front ones?
None of your information was helpful! the writer did not ask about payday loans or how he got in trouble! He asked how to get help. There are companies out there that work on negoiating with paydal loans exclusively. The way they work is they will ask you to submit to them paperwork on how many payday loans you have, and how much you owe. They work like this - You give them the list, they know most of them and what they are willing to take. They will then tell you how much you need to have in a checking account to pay these people a monthly amount. They base this on your income/expenses. They will suggest you close your current account out to prevent money going out and open one for them and one for you. They contact the lenders, and arrange an negoiation settlement and then, you provide the money in the checking account - they pull it and they pay the payday loan companies. MOst of the payday loan companies are willing to work with them.
Thanks a lot Janice for your exclusive help here. Hope to see more of your treasured posts, specially for PDL's. Could you please let us know about some of these companies with whom the PDL's work? Any specific that you know?
Good info Janice. You will need to let us know if there are any reliable agencies like you speak of. I thin k alot of people run scared of agencies like this because there are so many out there that aren't looking to help but collect money. People who have good outcomes with these places should help by listing them. It would help a person who wants to go this route but is too nervous too.
I really must know how these companies you speak of stay in business. I guess all of the employees are full time volunteers, I also bet their cars run on love and peace. -Oh wait, I figured it out. Those great companies you are referring to charge ppl who are already in debt over their heads to call the PDL companies and tell them "okay, this person can afford to give you x dollars a month, here's a promise to pay"
Nothing in this life is free and ppl are better off calling their creditor themselves and being honest about their abilities. If you cant pay your bills how can you afford to pay someone else to pay them?
Now, that I beat that dead horse into the ground...
missb291,
Listen to Justin. Sit down and look at your checking account and figure out what you spend monthly. Yes, your bills probably equal x amount of dollars if you sit down and say 'lets see 150 electric, 725 rent...etc" but, you really need to see where your money is really going. You might be shocked to find that you spend 200 a month on cigarettes or, 100 on coffee etc. Once you know where your cash is going cut back where you can. Then give yourself a cushion each week for the unexpected. You should never budget away all of your money. Once you do this take a look at what you have left over each month. Then tally up your debt and take a look at the companies you owe money too. You are going to want to give more money to the companies that are more likely to go to court or, have higher fees or interest. Call each of the companies and tell them what you can afford to give them monthly. Don’t let them try to tell you what you can afford,be honest and firm with them. Once you reach an agreement ask them to send you a letter with the terms you agreed on.
Then stick to your agreements. if you have extra money at the end of the month pay whatever company has the highest fees. It wont happen overnight but, its the best way to go.
WOW!! I have to say that was no 'sugar coating' about that!! Sometimes people HAVE to hear it that way. I know I do sometimes. Just getting back to the 'reality thing', I think. responsibilty is the key to take care of your debts..no matter how big or small.
I thought the PDL's, THEMSELVES, could not report to the CB's. I thought it was the CA's, that 'represent' the PDL's that report. I've never seen an ACTUAL PDL on my CR. ....just CA's on it. But.if ALOT of the PDL's are illegal, how can ANY CA 'represent' them? Can get confusing sometimes. It's like a 'Catch 22'.
Yes I am. I just can't see how they can represent something that is illegal. If it was taken to court how could the judge honor the debt knowing that it was an illegal act? It would be like me taking you to court because we both stole a bunch of stuff from Wal Mart and you were suppose t6o sell it and give me half and you don't. That is why I wonder how they can even seek legal action.
The collection agencies always focus on the maximum amount of the pending debt they can collect from you. Most of them don't even bother what is legal and what is illegal. If you get a mail from a CA asking you to pay back your debt, all you can do to justify their demand is to ask for a debt validation letter. If they validate your debt and you agree with their validation, pay off the debt. Else dispute it with the credit bureaus. If they sue you without properly validating your debt, the judgment may go in your favor.
If PDL's are illegal, for certain states?..I mean, if I received a PDL ( I live in PA) and it's illegal for that PDL in my state, can the CA ( or whoever is representing the PDLin collections) come to my state and sue? Or.can they just do it through paperwork, etc? Hope the question is clear.
I am from Pa too, I would think that anyone could file a civil suit against you, but since they have loop holes like cashnet found to lend through Nevada, I am not real sure how this would be handled.
Pay day loans are actually legal in PA. I hope everyone read my post where they were passing new l;aws in PA that will limit how much interest internet payday lenders and out of state lenders can charge. It goes into effect this coming Feb. They are also requiring them to be licensed.
I have 2 pay day loans and they telling me that they will bring me to court if i don't pay then in full can they really do that? i want to pay then but i RESENTHLY LOST MY job my house and everything I hade. can they really make me pay in full? they also said that i will be charge and go to jail b/c i did that over the internet
I would check and see if they are entitled. Some internet payday loans are illegal. I am not real familiar with them. I am guessing they may be able to make you pay but have you explained your situation to them? Are they not willing to work anything out? Let us know a little more so we can help yolu. Aslo how old are these loans and when was your last payment?
I just called the department of banking the other day, they said to watch the state banking website for restitution. It is in the process but a decision has not been made yet. So if anyone sees it, YELL, really loud.
Hi fireyone
What I know is that payday loans are illegal in Pennsylvania. But since the payday lenders use different loopholes to continue their business and there are numerous payday lending centers in Pennsylvania, I think these new laws have come out to regulate these payday loan companies so that they cannot charge high rates.
Justin, Yes I seen that they are about to change the way payday lenders do business. Isn't it crazy that they are actually illegal but yet there are centers everywhere in PA? I understand the loopholes. I justn think it shows how shady they are.
GN, If I were you I would be diligent in checking that State Banking Website. If it was my money I would want it back too.If you let me know the websites address I also will watch being as I have had some free time. I will post when I hear so that people may be reimbursed.
the payday loans are a pain, but in a time when the lightbill is taking priority over groceries they are something like a blessing and a curse in the same breath. I too was in that rut more than once, and this is my advice to you.Step 1 you need to speak with each one of them about your situation and tell them that you are unable to pay them.Secondly do not agree to redo the loan and only pay the interest, and do not rob peter to pay paul. They will at this point negotiate with you .Sometimes they will even offer to take a lesser amount to avoid not getting paid at all. The truth is they can do anything they want to when it comes to settling the debt , i paid 1 off at a time 50.00 a week i did 2 at 20.00 a week then so on. I got on the cycle again and once again i stuggled to get out of it take it from in the end that is the biggest addiction/money scam out there i hope that you will go and stand your ground and close your account if you have too by law if you are willingly paying on a debt they can not touch you, but if you ignore your obligations they get you w/o the vaseline lol
Robin, I am sure we all our faced with situations like you were. I did the samething but My curse/blessing was a credit card. They to me are the same demon. Good advice for the OP. Glad you put in your advise.
Payday loans come with very high interest rates and so I think we should all avoid these loans as far as possible. There are some states which do not allow pay day loan companies to conduct business. Pennsylvania is one such state. Recently the Commonwealth Court of Pennsylvania has issued judgment against Advance America, a payday loan company to close its operations in Pennsylvania because they did not have proper license to conduct its business there and moreover, they were charging very high interest rates.
They are really worse than any cc you can have and I would avoid them too. I can just understand the situation Robin was explaining. Soemtimes we do what we know we shouldn't but sometimes life gives no choices.
i like how all of you would like to blaim the PDL companys whey YOU took out the loan... YOU agreed to the terms... and now you want them to cut you a break...? how irresponsible. thats like buying a car then when you realize you dont have the meens to make the payment you think they should extend it and still let you drive the car!
like all loans when it comes down to it its on YOU if YOU dont know how to budget your self.
Yes, it is true that a person should take all responsibility toward paying off his debts. However, in case of payday loans people generally get harassed by many such companies that are not at all legal. Thus, it is better ti first check out your state laws on PDL and the legality of the company before going to get help from them.
Ok you want the 411 on payday loans here it is. Because I used to work for one. 1st if you cant pay your bill. Close your bank acct. call the payday loan company and make them aware you have closed the acct and are going to make pymts towards the total bill. They will in turn deposit the chk to the closed acct one time. They will then work out pymt arrgmts. Do not under any circumstances let them tell you, you will go to jail. This is not true. It is a credit arrangement so therefore at most its civil litigation and most the times not even that. If you use payday loan assistance companies you are paying someone to do something you can do yourself and you are a fool. Make either monthly or bi weekly pymts depending on how you get paid. Most payday loans do not report to credit, but If you dont pay it back they will sell the acct to another company that collects debts..that company has the right to report it to your credit..dont go that route most payday loan companies will work with you the ones that wont just tell them they can accept the payments and if they dont then when they sell the acct the company they sell it to will get the money.
The repayment amnout of money is the absolute amnout plus a fee,which when worked out directly onto an APR (Annual Percentage Rate) definitely is very high.These may be short term school loans that are payable in 14-30 a few days and depending onthe lender; this one can be very long to few evenings.
By paying off the small one it may give you a liltte boost since you have that much additional money on a monthly basis to put towards your other debts and other expenses. For me, I paid off my smallest student loan as quick as possible, within four years of graduating so that I could free up more monthly income to tackle other expenses including credit card debt.Considering you still have the large one, ignore the people that say you need to keep both. You only need one monthly reoccurring payment to show that you can handle monthly payments.
Real cash for real people in need is exactly what we offer at Cash Advance Loans. Tough economic times mean that most of us are short on cash at some time or another, whether this is due to an unforeseen circumstance or just rising prices. Whether you need cash for groceries, an unexpected repair, medications and medical bills, or any other reason we can offer assistance at Cash Advance Loans, no matter what your credit score is. We scour the best cash advance lenders, so that you get the benefit of approval and cash in hand to meet your financial needs.
If they are on you credit report then their contact infomation should be as well, just give them a call. If not, go to the place you got the loan from? Never had a payday loan, is there somthing im missing?
Pay day loans are irksome. I dont understand the reasoning behind opting for this filthy system of lending.
Missb291,
I would suggest you to do some serious calculations on how much you earn and how much you spend. I am sure once you save enough money you will be able to pay them back. Which state do you belong to? Are PDL's legal there? Are these online PDL's or store front ones?
Payday Loans
None of your information was helpful! the writer did not ask about payday loans or how he got in trouble! He asked how to get help. There are companies out there that work on negoiating with paydal loans exclusively. The way they work is they will ask you to submit to them paperwork on how many payday loans you have, and how much you owe. They work like this - You give them the list, they know most of them and what they are willing to take. They will then tell you how much you need to have in a checking account to pay these people a monthly amount. They base this on your income/expenses. They will suggest you close your current account out to prevent money going out and open one for them and one for you. They contact the lenders, and arrange an negoiation settlement and then, you provide the money in the checking account - they pull it and they pay the payday loan companies. MOst of the payday loan companies are willing to work with them.
Thanks a lot Janice for your exclusive help here. Hope to see more of your treasured posts, specially for PDL's. Could you please let us know about some of these companies with whom the PDL's work? Any specific that you know?
Janice
We would definitely like to know. Did you work with any of them?
Good info Janice. You will need to let us know if there are any reliable agencies like you speak of. I thin k alot of people run scared of agencies like this because there are so many out there that aren't looking to help but collect money. People who have good outcomes with these places should help by listing them. It would help a person who wants to go this route but is too nervous too.
please what agencies?
Janice ,
I really must know how these companies you speak of stay in business. I guess all of the employees are full time volunteers, I also bet their cars run on love and peace. -Oh wait, I figured it out. Those great companies you are referring to charge ppl who are already in debt over their heads to call the PDL companies and tell them "okay, this person can afford to give you x dollars a month, here's a promise to pay"
Nothing in this life is free and ppl are better off calling their creditor themselves and being honest about their abilities. If you cant pay your bills how can you afford to pay someone else to pay them?
Now, that I beat that dead horse into the ground...
missb291,
Listen to Justin. Sit down and look at your checking account and figure out what you spend monthly. Yes, your bills probably equal x amount of dollars if you sit down and say 'lets see 150 electric, 725 rent...etc" but, you really need to see where your money is really going. You might be shocked to find that you spend 200 a month on cigarettes or, 100 on coffee etc. Once you know where your cash is going cut back where you can. Then give yourself a cushion each week for the unexpected. You should never budget away all of your money. Once you do this take a look at what you have left over each month. Then tally up your debt and take a look at the companies you owe money too. You are going to want to give more money to the companies that are more likely to go to court or, have higher fees or interest. Call each of the companies and tell them what you can afford to give them monthly. Don’t let them try to tell you what you can afford,be honest and firm with them. Once you reach an agreement ask them to send you a letter with the terms you agreed on.
Then stick to your agreements. if you have extra money at the end of the month pay whatever company has the highest fees. It wont happen overnight but, its the best way to go.
Good luck
debt
WOW!! I have to say that was no 'sugar coating' about that!! Sometimes people HAVE to hear it that way. I know I do sometimes. Just getting back to the 'reality thing', I think. responsibilty is the key to take care of your debts..no matter how big or small.
missb921
How is it going, any updates on your situation for us???? I would like to know.
We all would and if their is anything we can help you with let us know.
pdl
I thought the PDL's, THEMSELVES, could not report to the CB's. I thought it was the CA's, that 'represent' the PDL's that report. I've never seen an ACTUAL PDL on my CR. ....just CA's on it. But.if ALOT of the PDL's are illegal, how can ANY CA 'represent' them? Can get confusing sometimes. It's like a 'Catch 22'.
Pretty good questions SD. I wonder how ca can represent pay day lenders. That will be an interesting answer.
I am amazed at the power that collection agencies have, aren't you?
Yes I am. I just can't see how they can represent something that is illegal. If it was taken to court how could the judge honor the debt knowing that it was an illegal act? It would be like me taking you to court because we both stole a bunch of stuff from Wal Mart and you were suppose t6o sell it and give me half and you don't. That is why I wonder how they can even seek legal action.
If the contract they drafted is illegal they will not win in court. You are right when you say that the courts will not uphold an illegla agreement
At least that is good to hear.
The collection agencies always focus on the maximum amount of the pending debt they can collect from you. Most of them don't even bother what is legal and what is illegal. If you get a mail from a CA asking you to pay back your debt, all you can do to justify their demand is to ask for a debt validation letter. If they validate your debt and you agree with their validation, pay off the debt. Else dispute it with the credit bureaus. If they sue you without properly validating your debt, the judgment may go in your favor.
PDL
If PDL's are illegal, for certain states?..I mean, if I received a PDL ( I live in PA) and it's illegal for that PDL in my state, can the CA ( or whoever is representing the PDLin collections) come to my state and sue? Or.can they just do it through paperwork, etc? Hope the question is clear.
I am from Pa too, I would think that anyone could file a civil suit against you, but since they have loop holes like cashnet found to lend through Nevada, I am not real sure how this would be handled.
Pay day loans are actually legal in PA. I hope everyone read my post where they were passing new l;aws in PA that will limit how much interest internet payday lenders and out of state lenders can charge. It goes into effect this coming Feb. They are also requiring them to be licensed.
PDL
I have 2 pay day loans and they telling me that they will bring me to court if i don't pay then in full can they really do that? i want to pay then but i RESENTHLY LOST MY job my house and everything I hade. can they really make me pay in full? they also said that i will be charge and go to jail b/c i did that over the internet
I would check and see if they are entitled. Some internet payday loans are illegal. I am not real familiar with them. I am guessing they may be able to make you pay but have you explained your situation to them? Are they not willing to work anything out? Let us know a little more so we can help yolu. Aslo how old are these loans and when was your last payment?
I just called the department of banking the other day, they said to watch the state banking website for restitution. It is in the process but a decision has not been made yet. So if anyone sees it, YELL, really loud.
Hi fireyone
What I know is that payday loans are illegal in Pennsylvania. But since the payday lenders use different loopholes to continue their business and there are numerous payday lending centers in Pennsylvania, I think these new laws have come out to regulate these payday loan companies so that they cannot charge high rates.
Justin, Yes I seen that they are about to change the way payday lenders do business. Isn't it crazy that they are actually illegal but yet there are centers everywhere in PA? I understand the loopholes. I justn think it shows how shady they are.
GN, If I were you I would be diligent in checking that State Banking Website. If it was my money I would want it back too.If you let me know the websites address I also will watch being as I have had some free time. I will post when I hear so that people may be reimbursed.
pay day loans
the payday loans are a pain, but in a time when the lightbill is taking priority over groceries they are something like a blessing and a curse in the same breath. I too was in that rut more than once, and this is my advice to you.Step 1 you need to speak with each one of them about your situation and tell them that you are unable to pay them.Secondly do not agree to redo the loan and only pay the interest, and do not rob peter to pay paul. They will at this point negotiate with you .Sometimes they will even offer to take a lesser amount to avoid not getting paid at all. The truth is they can do anything they want to when it comes to settling the debt , i paid 1 off at a time 50.00 a week i did 2 at 20.00 a week then so on. I got on the cycle again and once again i stuggled to get out of it take it from in the end that is the biggest addiction/money scam out there i hope that you will go and stand your ground and close your account if you have too by law if you are willingly paying on a debt they can not touch you, but if you ignore your obligations they get you w/o the vaseline lol
Robin, I am sure we all our faced with situations like you were. I did the samething but My curse/blessing was a credit card. They to me are the same demon. Good advice for the OP. Glad you put in your advise.
Payday loans come with very high interest rates and so I think we should all avoid these loans as far as possible. There are some states which do not allow pay day loan companies to conduct business. Pennsylvania is one such state. Recently the Commonwealth Court of Pennsylvania has issued judgment against Advance America, a payday loan company to close its operations in Pennsylvania because they did not have proper license to conduct its business there and moreover, they were charging very high interest rates.
They are really worse than any cc you can have and I would avoid them too. I can just understand the situation Robin was explaining. Soemtimes we do what we know we shouldn't but sometimes life gives no choices.
pay back pay day loan
your information in not full..you have to generate more income source so that you can pay back pay day loans..
payday loans
i like how all of you would like to blaim the PDL companys whey YOU took out the loan... YOU agreed to the terms... and now you want them to cut you a break...? how irresponsible. thats like buying a car then when you realize you dont have the meens to make the payment you think they should extend it and still let you drive the car!
like all loans when it comes down to it its on YOU if YOU dont know how to budget your self.
paday loans
Hi baylen,
Yes, it is true that a person should take all responsibility toward paying off his debts. However, in case of payday loans people generally get harassed by many such companies that are not at all legal. Thus, it is better ti first check out your state laws on PDL and the legality of the company before going to get help from them.
Thanks,
Aaron
RvadgdTeKpY
Paying multiple pdl.. May I repost it? :)
PAYDAY LOANS
Ok you want the 411 on payday loans here it is. Because I used to work for one. 1st if you cant pay your bill. Close your bank acct. call the payday loan company and make them aware you have closed the acct and are going to make pymts towards the total bill. They will in turn deposit the chk to the closed acct one time. They will then work out pymt arrgmts. Do not under any circumstances let them tell you, you will go to jail. This is not true. It is a credit arrangement so therefore at most its civil litigation and most the times not even that. If you use payday loan assistance companies you are paying someone to do something you can do yourself and you are a fool. Make either monthly or bi weekly pymts depending on how you get paid. Most payday loans do not report to credit, but If you dont pay it back they will sell the acct to another company that collects debts..that company has the right to report it to your credit..dont go that route most payday loan companies will work with you the ones that wont just tell them they can accept the payments and if they dont then when they sell the acct the company they sell it to will get the money.
dxIkKAtEmYYCRIDh
The repayment amnout of money is the absolute amnout plus a fee,which when worked out directly onto an APR (Annual Percentage Rate) definitely is very high.These may be short term school loans that are payable in 14-30 a few days and depending onthe lender; this one can be very long to few evenings.
ZhHsfqckXYTYL
By paying off the small one it may give you a liltte boost since you have that much additional money on a monthly basis to put towards your other debts and other expenses. For me, I paid off my smallest student loan as quick as possible, within four years of graduating so that I could free up more monthly income to tackle other expenses including credit card debt.Considering you still have the large one, ignore the people that say you need to keep both. You only need one monthly reoccurring payment to show that you can handle monthly payments.
Real cash for real people in need is exactly what we offer at Cash Advance Loans. Tough economic times mean that most of us are short on cash at some time or another, whether this is due to an unforeseen circumstance or just rising prices. Whether you need cash for groceries, an unexpected repair, medications and medical bills, or any other reason we can offer assistance at Cash Advance Loans, no matter what your credit score is. We scour the best cash advance lenders, so that you get the benefit of approval and cash in hand to meet your financial needs.