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Posted: Thu Jul 28, 2005 8:32 pm Subject: Trouble with Payday loans

I am in need of desperate help.
I currently have 8 payday loans outstanding and when I get paid next Friday they will be taking their chunk of my paycheck. My husband is out of work and I am the sole provider for us right now. I am also looking for part time work.
My question is how can I prevent them from debiting my checking account next week without closing my bank account. If I stop the automatic deposit on my check then I will be hit with bounced check fees. I am at wits end with this nightmare.
I have signed up for the debt mgmt program and someone will hopefully call me tomorrow or later, but meanwhile if someone can let me know what to do.

Posted: Fri Jul 29, 2005 3:39 am Subject: Trouble with payday loans

Hi snakeayes
Welcome to the forums

You have already enrolled in the debt management program. This suggests that you are very much conscious about your financial health. You have taken the right step towards leading a debt free life. Please wait as the consultant from the debt management company will guide as to what your course of action will be.

In case they do not call you up then you can call them up and ask them about the possible solution. Please do not stress yourself out. Further ask the payday loan companies that you have registered yourself in the debt management program and you will be paying off the payday loan gradually through debt management plan and not to debit your checking account.

Hope you will find this information useful

Regards
Peter

Posted: Thu Aug 04, 2005 7:44 pm Subject:

When I signed into this website, I got a call the next day from United Christian Financial. Today I talked to someone again regarding payday loans and they do not handle these types of bills. The man I spoke to suggested I apply for a loan to pay them off.
The last thing I need right now is another loan.
Is this company affiliated with your programs or should I call the number listed in the website.

Posted: Fri Aug 05, 2005 6:51 am Subject:

Snakeayes,

Contact this company. BHR&Assoc. 1-949-786-9020. United Christian put me in touch with them. Not sure why they didnt do that for you. They are handling my payday loans, and got me a settlement for 50% of what I owed on 2 of them.

Also, call your bank and tell them that you want to put stop payments on the pay day loans. That will keep them from coming out. It will probably cost you money as it would be like putting a stop payment on check, but that should give you some breathing room until you can get in touch with BHR.

The way BHR works is you dont pay anything upfront. They will negotiate with the loan companies, and if they get a settlement that you like, you pay them 35% of what you SAVE. So if you had a $500 pay day loan and they negotiated it down to $250. You owe BHR $87.50. They are great to work with!

Posted: Fri Aug 05, 2005 6:58 am Subject:

I will definitely call them today and I will work with my bank for my next payday.
Thanks for the information.

Posted: Wed Aug 17, 2005 12:04 am Subject: BHR&Assos

I have called the number you listed but can only get a recording. Please help.

Posted: Wed Aug 17, 2005 10:36 am Subject:

You can contact them in the business hours. Hope that they will be available at that time.

RWILKINS · Posted: Thu Aug 18, 2005 1:17 pm Subject: PAY DAY LOANS

I CURRENTLY HAVE 6 WHAT CAN I DO BEFORE MY NEXT PAY DAY TO STOP THEM FROM ACH MY ACCOUNT

Posted: Thu Aug 18, 2005 2:04 pm Subject:

Hi RWILKINS

Welcome to the forums. You can take care of your payday loans by putting them in the consolidation program.

This program will combine all the multiple debts into one loan amount and you will be offered easy monthly installments at lower rate of interest.

The consultant working in this program will negotiate with your creditors to reduce all the financial charges, late fees from the total amount of your debt.

You will be offered easy monthly installments that will suit to your present financial situation and help you in achieving a debt free life quicker.

Regards
Roxette

Patrice · Posted: Sat Feb 18, 2006 7:32 am Subject: payday loans

how much does bhr&assoc charge for their services in getting help with payday loans?

Posted: Sat Feb 18, 2006 10:18 am Subject:

Patrice, every company has their own specific policies. It will be better to discuss the charges with their consultant individually. I have heard some people saying the charges to be quite higher. But you should take their counseling and see if it suits to your situation.

Patrice · Posted: Sun Feb 19, 2006 4:51 pm Subject: payday loan

David, thanks. Right now one of the payday loans contacted my employer with wage garnish. Is there anything I can do to avoid wage garnish? Thanks

Posted: Mon Feb 20, 2006 3:45 am Subject:

Patrice,

I would first double check the contract you signed with the company. May I ask who the company is? I am currently getting myself out of the payday loan trap and I have faced this issue before. If it is a voluntary wage assignment, then you can send a letter to the original creditor revoking the wage assignment. This is especially true with online payday loan companies. Feel free to register yourself with the forum. It's free and easy to sign up. This is a great place to get advice and to talk about our financial problems.

GRAMMY · Posted: Mon Feb 20, 2006 6:46 am Subject: TO SNAKEEYES

Be carful when putting stop payments, i tried that, but the stop payment must be for specific amount, the payday loan company's know the way around this (for example, your payment is $100.00 and you put a stop payment for $100.00, the payday loan company then puts thru 2 debits (50.00 and 50.00, 80.00 and 20.00 so on and so on) it is very difficult to stop payments) my only solution was to close my bank account, with the help of my understanding banker who also reversed any fess that went thru my account) i then filed bankruptcy (which is not the solution for everyone) but i was in too deep. Be careful and god bless you!

Posted: Mon Feb 20, 2006 9:27 am Subject:

Patrice, read the link below and have the complete knowledge about voluntary wage assignment. As per the rule, the company must mention the wage assignment in the contract clearly. Also, you need to sign the paper in person. Most of the payday loan companies make their customers sign the contract digitally. This is not a legal process and if done, you can revoke the assignment.

http://www.debtconsolidationcare.com/forums/wageassign-legal.html

Grammy, I have also seen the companies making the debits from the account using different amounts. In such a case, you have to suggest your bank to block the ID code of the company. Doing this, the company won't be able to make debits with any amounts.

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