helpless in PA Posted July 14, 2007 Report Share Posted July 14, 2007 Due to Payday loans, I screwed my life up. I have 3 that have just rolled over, can't pay anymore. What can they do to me in PA, legally? Can they sue for bad checks? One is Cashnet USA, online lender. One is National Check Exchange, and one is Advance America. PA is suing Advance America. Is it best to go to magistrate, and explain how I paid 300 percent over original loans?I defaulted on all three. What steps can I take to protect myself. Thanks to corporate mergers and outsourcing, my company payroll moved, and my direct deposit to new checking account failed. Waiting on paper check, but just can't afford to pay these without jeopardizing mortgage.LADY IN RED, so helpful last time i posted, what can I do? SHould I just pay them each $25/mo. via money order? Filed complaints with PA dept of banking. The PA dept of banking not totally consistant in answering if these companies fall under consumer discount companies, which then have usuary laws. Any help is appreciated. Link to comment Share on other sites More sharing options...
Amerikaner83 Posted July 14, 2007 Report Share Posted July 14, 2007 The 300 percent is ANNUALLY - just so you know.since you already wrote them a check (post dated right?), as far as I know that means they can electronically repost to your account....but I just caught that you moved to a new account.....hmm interesting.I mean I would try and pay as much as you can, and know that PAYDAY LOANS ARE BAD! I took out a couple but luckily didn't get inot the deep hole that a lot of folks get into with this.Good luck with whatever you do. Link to comment Share on other sites More sharing options...
momof5 Posted July 14, 2007 Report Share Posted July 14, 2007 helpless,Please don't post the same question in multiple forums. Thanks. Link to comment Share on other sites More sharing options...
helpless in PA Posted July 14, 2007 Author Report Share Posted July 14, 2007 Sorry. Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted July 14, 2007 Report Share Posted July 14, 2007 in NC they are not even legal... there is a reason for that.. I think you get better rates from the mob. Link to comment Share on other sites More sharing options...
rebsgrl Posted July 20, 2007 Report Share Posted July 20, 2007 I am having a problem with payday loans too. I have 6. I had to get them to stop an eviction. I live in PA and legally I don't think we are allowed to have more than 1 loan at a time and I read somewhere that they can't be higher than $500. My first loan was $650 which is a violation on their part and the 5 other companies are obviously breaking PA law because they asked me if I had any outstanding loans and I said yes but they gave them to me anyway. They are also not allowed to charge more than something like .17 per $1.00 and they are charging me at least $30 per $100.When I was reading over my contracts they say that I agree that the governing law is the state that they are in and not where I live and PA law is irrelevant. There is no way that I can pay them right now and I am closing my checking acct. on Monday. Does anyone have any advice? I don't know what they can do legally. If they sue me does it have to be in my home state or can they do this anywhere? Link to comment Share on other sites More sharing options...
rebsgrl Posted July 20, 2007 Report Share Posted July 20, 2007 I am totally confused right now. One site I found told me what I stated above but credit.com says PA has no payday loan laws at all. Help!!! Link to comment Share on other sites More sharing options...
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