Want to settle with payday loan agencies. Stopped

Want to settle with payday loan agencies. Stopped all ach withdrawls on my account. now what do I do? Send letters of intent to pay over 12 month period or settlement offer letters?

5 Answers

I borrowed from Advance America in Tallahassee on South monroe. Now they are trying to take me to court; is there anything that I can do about this?

 


First of all try to find out if the payday loans are legal in your state.


And if your payday loans are illegal and you find it difficult to repay the entire outstanding balance, you can opt for payday loan settlement.


Give reply of the questions that have been asked by Soaplady. Settlement is possible only when your lenders are licensed in your state. As far as the illegal lenders are concerned, you can get rid of them by paying back only the principal amount.


What state do you live in and who did you borrow from?  Are the loans even 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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