I have lots of pay day loans. Had company work on

I have lots of pay day loans. Had company work on for me. They only paid on one at a time, havent done second yet..today i got calls from 4 others wanting me to pay them as they waited couple months so far. I dont know if i can do this myself. They are demanding in Louisiana and they want their $50 payments every two weeks i imagine. Is it wrong to offer 25 a month to each or go with company, who says they can try to stop judgments, but i know its coming to that for all of mine soon... ugh. help

4 Answers

Have you informed the company about this? If not, then do it. The company with whom you are working should handle your creditor calls. I think it is better to go with the company.


I agree with Anna. The contact detail of the Louisiana Office of Financial Institutions is as follows:
# Address - P.O. Box 94095 Baton Rouge LA 70804
# Phone - (225) 925-4660
# Fax - (225) 925-4548
 


You should contact the Louisiana Office of Financial Institutions in order to find out whether or not your payday lenders are licensed to operate in your state. If they are not licensed to operate in your state, then you won't be liable for paying any interest charges or other fees. You can simply pay them the principal amount and get rid of the debt. It will be against law if the illegal payday lenders come after you in order to recover the interest charges or other fees.

However, if you find that they are legal in your state, then you will be liable for paying off the debt in full along with the interest rate and other charges. In such a situation, you may take help of a debt relief company in order to settle or consolidate your debts and pay it off.


PDL's are legal in Louisiana.  Who did you borrow from?  Were those loans legal???

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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